Asia News - Page 63

International News Brief: Backed by growing economic affluence, Asia has room for eight to 10 Las Vegas-style strips offering gaming and entertainment facilities, US casino tycoon Sheldon Adelson said yesterday.

Las Vegas Sands Corp. formally broke ground on a $3.6 billion Marina Bay Sands on Thursday on the island-nation of Singapore, but company officials said construction costs might rise.

Singapore’s Minister for National Development and senior executives of Las Vegas Sands will mark the rising of the LVS Singapore integrated resort project onsite with guests and media.

News Brief: The Malaysian Court of Appeal will hear today an application by two foreign casinos to recover the RM7.1mil gambling debts owed by former Sabah Chief Minister Datuk Seri Osu Sukam.

International News Brief: Hong Leong group's Tan Sri Quek Leng Chan has grabbed 25 of the 89 casino licences awarded in Britain in the past two years.

Nevada gaming regulators have tentatively set Feb. 27 for a public hearing in Las Vegas to determine the suitability of MGM Mirage's partnership in an under-construction $1 billion hotel-casino in Macau.

International News Brief: Genting International plc has increased its investment in the joint venture Resorts World At Sentosa Pte Ltd.

PGMI, Inc. reports the grand opening of the newly completed Gyoda store in the Saitama Prefecture.

International News Brief: Richard Branson's Virgin Group is in talks with Australian wagering firm Tabcorp Holdings Ltd. and other firms on developing a 1.5 billion pound casino in Macau, sources familiar with the matter said Monday.

International News Brief: Sir Richard Branson's Virgin Group is close to securing a 20-hectare site in Macau to build a $3 billion casino complex which could add to the city's rise as the world's gambling capital, a newspaper reported on Friday.

nternational News Brief: Singapore's government is questioning a tie-up between Genting International, which won one of the two casino licences in the city-state, and casino mogul Stanley Ho.

Asian gaming analysts said Tuesday Macau's gambling win of $6.95 billion during 2006 means the Chinese enclave as surpassed the Strip as the world's largest gaming market.

International News Brief: Gaming and gambling activities in Macau posted gross revenues of US$6.985 billion in 2006, a rise of 22 percent against the figures for 2005, according to the Gaming Inspection and Coordination Bureau.

The Singapore government last year asked CB Richard Ellis Executive Vice President John Knott and his Global Gaming Group team to affix values to the two land parcels the city-state proposed as casino destinations.

International News Brief: Thanks to new competition, the Seoul, South Korea, casino market has exploded.

International News Brief: The Cambodian Ministry of Finance and Economy in 2006 collected about $17 million in tax revenues from the gambling industry.

International News Brief: The rapid influx of tourists from China pushed gaming revenue in Macau to $6.4 billion in the first 11 months of 2006, according to Standard & Poor's.

International News Brief: Nepal's casino industry, a major draw for Indian tourists, faces an uncertain future with the threat of closure hanging over two gaming centres.

International News Brief: Property developers have launched a new resort project in Macau combining gaming, hotels, shopping and film-production studios.

The Chinese government has now established a Project Coordination Committee specifically related to Las Vegas Sands proposed development of The Venetian Hengqin International Convention and Resort Project in Zhuhai.