Asia News - Page 61

Sun Innovation Holdings Ltd. Reports that intends to focus on entertainment related property development projects in Macau.

International News Brief: Chinese consumers and gaming liberalization have made Macau one of the fastest-growing economies globally.

International News Brief: Macau's position as the No1 casino destination will not be threatened by Singapore or other parts of Asia, an executive from tycoon Stanley Ho Hung-sun's firm.

nternational News Brief: More than 100 casinos along China's borders have been forced to close thanks to a major crackdown on their operations, Chinese state media says.

nternational News Brief: The world's top casino operators are jockeying for a stake in a vast but untapped market as Japan moves closer to an overhaul of its strict gambling laws to lure rich Asian tourists and boost its economy.

International News Brief: Work has recently begun on Vietnam Casino City, Vietnam's first luxury gaming resort, featuring five Vegas themed casinos in southern Vung Tau resort city.

International News Brief: The Singapore government on April 16 gave gambling firm Genting International Plc the go-ahead to build a casino, following extended probity checks after the group announced links with Macau tycoon Stanley Ho.

International News Brief: “Foreign investors are vying to build Macau-style luxury gambling and hotel complexes in a beachside resort area close to Vietnam's buzzing southern commercial hub of Ho Chi Minh City.

MGM Mirage has signed a definitive agreement with Mubadala Development Company, an investment and development vehicle established and wholly owned by the Government of the Emirate of Abu Dhabi, U.A.E.

International News Brief: Macao says it has overtaken the Las Vegas Strip as the world's biggest casino draw, raking in more than $7 billion in 2006.

MGM Mirage has signed a definitive agreement with the Diaoyutai State Guesthouse in Beijing, People's Republic of China aimed at creating a strategic relationship to pursue non-gaming business opportunities.

International News Brief: Publishing & Broadcasting Ltd's Asian casino joint venture has played down fears the construction of its $2.1 billion City of Dreams complex in Macao has got off to a rocky start, after reporting a $73.5 million full-year loss.

The organizers of Global Gaming Expo Asia report a sold-out show floor and an 80 percent increase in exhibitor participation.

Las Vegas Sands Corp., the National Basketball Association and the Chinese Basketball Association reports that The Venetian Macao will serve as the host of the first NBA event to be played in Macao.

International News Brief: Genting International said on late on March 27 it would buy sister firm Star Cruises's 25% stake in their joint Singapore casino project for S$255 million.

Nevada gaming commissioners said they had questions and concerns going into Friday's suitability hearing on the relationship between MGM Mirage and its Chinese business partner in a $1.1 billion casino under construction in Macau.

International News Brief: Officials are studying the possibility of ending the ban on casinos to boost the tourism industry, a Council for Economic Planning and Development spokeswoman said yesterday.

nternational News Brief: Wynn Resorts said it is pursuing investment opportunities in the Philippines, one of which is a hotel casino similar to its Macau facility.

While regulators hope Las Vegas-based casino operators will help flush out corrupt influences in the Chinese gambling enclave of Macau, they're not holding their breath.

It has come to the attention of Shun Tak Holdings Limited than third parties are using the Shun Tak name as part of a scam.