美国博彩公司金沙集团传正计划分拆旗下澳门资产在香港上市，并已委请高盛集团安排此项交易。
路透社昨日引述消息人士透露，上述首次公开售股（IPO）计划目前尚处于初期阶段，拟上市的资产包括澳门威尼斯人度假村。
该名消息人士表示，上个月金沙决定放弃出售澳门赌场和酒店的交易，原因是竞购方的出价均偏低。
昨日，金沙未对有关报道置评。
由于全球经济陷入低迷，金沙早前公布，2008年第四财季集团出现净亏损1亿1100万美元，上年同期则实现净利润3990万美元。
金沙拟再裁4000人
金沙因此已经搁置了它在澳门的一些开发项目。日前，金沙集团证实，计划在澳门进一步裁员4000人，相当于整体人手的两成，以应对生意放缓。
发言人表示，裁员行动在几个星期前已展开，预计在几个月内完成，会透过自然流失及裁减职位，削减员工数目。
金沙亚洲区总裁韦建宏接受香港传媒查询时补充，当中千名员工会“过档”至将于下月开幕的另一博企旗下酒店新濠天地。
对此，澳门劳工局局长孙家雄表示，当局未收到金沙集团的通知，稍后会主动接触金沙。
澳门另一家博彩公司美高梅金殿总裁简博贤接受传媒访问则表示，在现今情况下，美高梅不会大规模裁员，深信澳门经济将好转。
他相信，澳门特区政府会和业界一起面对金融海啸带来的挑战，向市民承担责任。
何鸿燊：无意裁员
由澳门“赌王”何鸿燊持有的澳门博彩控股有限公司也表示，虽然同业金沙计划在澳门裁员4000人，但集团目前无意裁员。由于今年还有一至两个新项目落成，集团会在不增聘人手下，进一步提高工作效率应付业务需求。
澳博控股执行董事兼行政总裁苏树辉透露，今年首四个月，集团的收入及业务录得5%增长，在现金流及除息、税、摊销及折旧前盈利（EBITDA）也有10%增长，中场赌桌营运效率则提升10%，市场占有率更升至30%，为市场首位。
他称，相比去年同期，澳博在澳门博彩业市占率已较去年同期上升3%至4%。
对于澳门博彩业前景，投行瑞信发表报告，预计第三季度开始，博彩类上市公司利润有望高于上年同期水平，博彩业毛收入可能恢复增长。
瑞信在报告中指出，多数澳门博彩类上市公司要么再融资，要么调整贷款合同，大大降低破产风险。因此，博彩类股前期大幅上涨，过去三个月涨幅达50%至200%。预计有关业绩的利好消息，将推动股价进一步走高。
报告预期，澳门新一届行政长官选举结束后，中国政府可能会松绑自由行政策。另外，佣金费率趋稳。多数博彩类企业已采取降低劳动力成本的措施（成本削减规模相当于毛收入的8%至9%）。
Source
Showing posts with label Las Vegas Sands. Show all posts
Showing posts with label Las Vegas Sands. Show all posts
Sunday, May 17, 2009
Sunday, April 12, 2009
NEW YORK (Dow Jones)--The recent winning streak for two beaten-down casino stocks was a classic case of what some traders suspect happened on a grander scale during the 28% rally for the Standard & Poor's 500: a short squeeze.
Shares of Strip giants MGM Mirage and Las Vegas Sands, owner of the Venetian casino, are both more than 90% from their peaks in 2008. During recent boom times, both loaded up with debt to build glistening developments that helped Vegas transform from seedy "Sin City" to a desert Monte Carlo. Now, Vegas's premium-price reputation makes it anathema to recession-struck tourists, and the casinos' debt loads are threatening to bust the companies.
This week, money manager Colony Capital LLC has broken off talks about an investment with MGM Mirage. The casino operator must come up with alternative financing for its $13.5 billion in debt, and to fund payments on its City Center project, an $8.6 billion development on the Las Vegas Strip.
Gambling, like liquor and cigarettes, was once thought to grow in popularity when times got tough. But gambling is no longer the only game in town. Data from the Nevada Gaming Commission shows that non-gaming revenue - think breakfast buffets and top-dollar suites - exceeded gaming revenue on the Strip in 2007.
Betting on red for Vegas is almost as dangerous as betting it will be in the black, however. Indeed, action in Sands and MGM Mirage has come to resemble a high-stakes game of "All-In" poker. Las Vegas Sands has more than tripled in value (to $4.44) and MGM more than doubled (to $5.30) from their March lows, when investors had effectively priced in a bust. Some short-sellers likely lost their shirts during those rallies.
Roughly 23% of Las Vegas Sands' float and 30% of MGM's were recently on loan to short sellers who borrowed it in the hopes of a fall, according to shortsqueeze.com. When an event - such as MGM's tentative deal with Colony Capital on April 1, when it closed at $2.63 - causes a stock with a large portion on loan to tick up, it can cause a stampede of buyers. That's because short-sellers lose money every time the stock ticks a little higher. Every tick prompts another short-seller to cut their loss by buying the stock. And every purchase of the stock causes another tick higher.
Outstanding short positions in New York Stock Exchange issues rose by 11% in the first half of March, suggesting that short-sellers buying back stock played some role in the recent rally beyond the action in the casinos. That's one reason some investors expect another dip for the market once the short covering is done.
One reason people may not be flocking to Vegas: they can have the same thrills and spills just watching their stock investments.
Source
Shares of Strip giants MGM Mirage and Las Vegas Sands, owner of the Venetian casino, are both more than 90% from their peaks in 2008. During recent boom times, both loaded up with debt to build glistening developments that helped Vegas transform from seedy "Sin City" to a desert Monte Carlo. Now, Vegas's premium-price reputation makes it anathema to recession-struck tourists, and the casinos' debt loads are threatening to bust the companies.
This week, money manager Colony Capital LLC has broken off talks about an investment with MGM Mirage. The casino operator must come up with alternative financing for its $13.5 billion in debt, and to fund payments on its City Center project, an $8.6 billion development on the Las Vegas Strip.
Gambling, like liquor and cigarettes, was once thought to grow in popularity when times got tough. But gambling is no longer the only game in town. Data from the Nevada Gaming Commission shows that non-gaming revenue - think breakfast buffets and top-dollar suites - exceeded gaming revenue on the Strip in 2007.
Betting on red for Vegas is almost as dangerous as betting it will be in the black, however. Indeed, action in Sands and MGM Mirage has come to resemble a high-stakes game of "All-In" poker. Las Vegas Sands has more than tripled in value (to $4.44) and MGM more than doubled (to $5.30) from their March lows, when investors had effectively priced in a bust. Some short-sellers likely lost their shirts during those rallies.
Roughly 23% of Las Vegas Sands' float and 30% of MGM's were recently on loan to short sellers who borrowed it in the hopes of a fall, according to shortsqueeze.com. When an event - such as MGM's tentative deal with Colony Capital on April 1, when it closed at $2.63 - causes a stock with a large portion on loan to tick up, it can cause a stampede of buyers. That's because short-sellers lose money every time the stock ticks a little higher. Every tick prompts another short-seller to cut their loss by buying the stock. And every purchase of the stock causes another tick higher.
Outstanding short positions in New York Stock Exchange issues rose by 11% in the first half of March, suggesting that short-sellers buying back stock played some role in the recent rally beyond the action in the casinos. That's one reason some investors expect another dip for the market once the short covering is done.
One reason people may not be flocking to Vegas: they can have the same thrills and spills just watching their stock investments.
Source
Thursday, April 2, 2009
Las Vegas Sands says to resume Macau projects in 2009
HONG KONG, April 2 (Reuters) - Las Vegas Sands said on Thursday it aims to resume construction of its stalled Macau projects by year-end with talks now ongoing with potential new investors to restart the half-finished Cotai strip projects.
"We are certainly looking to resume in this calender year, keeping in mind that when we suspended these works, we were only about nine months off from opening the first phase," Stephen Weaver, the firm's Asia President told reporters.
Weaver, however, wouldn't give specifics on who the investors might be though said it was not the Macau government.
The debt-straddled Sands said late last year it was halting any further casino expansion in Macau and laid off most of the 11,000 or so construction workers working on phase one of two plots of land on the Cotai strip.
Sands has said since last November it was in talks with a syndicate of banks to secure funding of around US$1.5 to 2 billion to finance its stalled projects, which are a stone's throw from its gargantuan Venetian Macau casino resort, the world's largest casino, also on the stretch of reclaimed land in Macau called the Cotai Strip fashioned after Las Vegas' famed neon alley.
Sands also said they were on track to open the first phase of its US$5.4 billion Marina Bay Sands in Singapore by the end of this year, and there was no risk with regard to funds drying up.
"The company has funds available at the parent level which if needed, could be used to complete the project. I think you should rest assured that this would be financed," said Weaver.
Source
"We are certainly looking to resume in this calender year, keeping in mind that when we suspended these works, we were only about nine months off from opening the first phase," Stephen Weaver, the firm's Asia President told reporters.
Weaver, however, wouldn't give specifics on who the investors might be though said it was not the Macau government.
The debt-straddled Sands said late last year it was halting any further casino expansion in Macau and laid off most of the 11,000 or so construction workers working on phase one of two plots of land on the Cotai strip.
Sands has said since last November it was in talks with a syndicate of banks to secure funding of around US$1.5 to 2 billion to finance its stalled projects, which are a stone's throw from its gargantuan Venetian Macau casino resort, the world's largest casino, also on the stretch of reclaimed land in Macau called the Cotai Strip fashioned after Las Vegas' famed neon alley.
Sands also said they were on track to open the first phase of its US$5.4 billion Marina Bay Sands in Singapore by the end of this year, and there was no risk with regard to funds drying up.
"The company has funds available at the parent level which if needed, could be used to complete the project. I think you should rest assured that this would be financed," said Weaver.
Source
Thursday, March 12, 2009
Singapore's first casino complex takes shape
The tiny city state of Singapore at the tip of the Malay Peninsula currently boasts what is probably Asia's largest construction site. Despite the global economic downturn, workers toil here around the clock, seven days a week, to build Singapore's first casino complex.
The Marina Bay Sands is scheduled to open in December and apart from the casino proper it will comprise a convention and exhibition centre, some 300 shops and luxury boutiques, a museum and three hotel towers, each of them 200 metres high, with a combined 2,600 beds.
"We are of course fully aware of the current economic crisis, but this is simply a unique project," said Bradley Stone, who not only oversees the Singapore property but is also responsible for other projects around the world for the US-based casino operator Las Vegas Sands Corp.
"Singapore is already well known as a (tourist) destination and has a world class infrastructure, thus we are very bullish that there is lots of interest (in the casino)," Stone added.
The financial crunch had almost bankrupted Las Vegas Sands at one point, but overhead slashing, debt consolidation and selling off some properties saved the day for the firm.
While the company froze some projects in Macau, the Singapore project will go ahead as planned, costing an estimated $5.5 billion.
The complex is being erected on a piece of reclaimed land on the shoreline of Singapore.
The hotel towers with 59 storeys are about half erected, and the view from the 21st floor of the construction is already magnificent, with Singapore's skyline in the north and across the ocean in the south.
"Some 7,500 workers are employed on the construction site every day," explained Austrian national Rudy Betschoga, senior construction manager for Marina Bay Sands.
Although the foundations were only laid in 2007, the four-storey casino building as well as the convention centre, which incorporates a rooftop ballroom that can accommodate 6,600 guests, will soon receive their roofs.
The three hotel towers will be linked by a massive glassed-in atrium. "It is so high that it could easily hold the Statue of Liberty," explained Betschoga.
But the masterpiece of architect Moshe Safdie is without doubt the open-air sky park that will straddle the roofs of the hotel towers.
It will harbour some 600 palm and other trees and a 146-metre-long swimming pool. On the western side, the platform will protrude a full 65 metres over thin air, theoretically enough to park an A380 Airbus.
For the small city state of Singapore the project has created public enthusiasm because of the 30,000 new jobs it will create.
The 40-year ban on casino gambling was lifted in 2005, and Marina Bay Sands will become the first of two planned casinos.
The government is to charge high entry fees in an attempt to keep locals away, but guests from the Middle East, Russia and the rest of gambling-crazy Asia will be welcomed with open arms.
"When the going gets tough we all go gambling, it's the Chinese way," said an ethnic-Chinese newspaper reporter, who has no doubts about the success of the casino.
Sands Corp's Bradley Stone admitted that he also gambles occasionally.
"After all, I have to know what kind of thrills our future customers are going to seek," he said.
Source
The Marina Bay Sands is scheduled to open in December and apart from the casino proper it will comprise a convention and exhibition centre, some 300 shops and luxury boutiques, a museum and three hotel towers, each of them 200 metres high, with a combined 2,600 beds.
"We are of course fully aware of the current economic crisis, but this is simply a unique project," said Bradley Stone, who not only oversees the Singapore property but is also responsible for other projects around the world for the US-based casino operator Las Vegas Sands Corp.
"Singapore is already well known as a (tourist) destination and has a world class infrastructure, thus we are very bullish that there is lots of interest (in the casino)," Stone added.
The financial crunch had almost bankrupted Las Vegas Sands at one point, but overhead slashing, debt consolidation and selling off some properties saved the day for the firm.
While the company froze some projects in Macau, the Singapore project will go ahead as planned, costing an estimated $5.5 billion.
The complex is being erected on a piece of reclaimed land on the shoreline of Singapore.
The hotel towers with 59 storeys are about half erected, and the view from the 21st floor of the construction is already magnificent, with Singapore's skyline in the north and across the ocean in the south.
"Some 7,500 workers are employed on the construction site every day," explained Austrian national Rudy Betschoga, senior construction manager for Marina Bay Sands.
Although the foundations were only laid in 2007, the four-storey casino building as well as the convention centre, which incorporates a rooftop ballroom that can accommodate 6,600 guests, will soon receive their roofs.
The three hotel towers will be linked by a massive glassed-in atrium. "It is so high that it could easily hold the Statue of Liberty," explained Betschoga.
But the masterpiece of architect Moshe Safdie is without doubt the open-air sky park that will straddle the roofs of the hotel towers.
It will harbour some 600 palm and other trees and a 146-metre-long swimming pool. On the western side, the platform will protrude a full 65 metres over thin air, theoretically enough to park an A380 Airbus.
For the small city state of Singapore the project has created public enthusiasm because of the 30,000 new jobs it will create.
The 40-year ban on casino gambling was lifted in 2005, and Marina Bay Sands will become the first of two planned casinos.
The government is to charge high entry fees in an attempt to keep locals away, but guests from the Middle East, Russia and the rest of gambling-crazy Asia will be welcomed with open arms.
"When the going gets tough we all go gambling, it's the Chinese way," said an ethnic-Chinese newspaper reporter, who has no doubts about the success of the casino.
Sands Corp's Bradley Stone admitted that he also gambles occasionally.
"After all, I have to know what kind of thrills our future customers are going to seek," he said.
Source
Thursday, March 5, 2009
疯狂扩张耗尽现金 博彩巨头金沙市值跌去96%
开赌场就好比印银纸（钞票），哪有可能会穷。”被誉为澳门赌王的何鸿燊，2月8日向媒体如此回应《福布斯》杂志指其身家因金融海啸缩水九成的判断。
一度与何鸿燊隔空对骂的谢尔登·阿德尔森（SheldonAdelson），未必能欣赏前者的幽默。
阿德尔森一手创办的美国博彩业旗舰——拉斯维加斯金沙集团（NYSE：LVS，下文简称“金沙集团”），在寰球博彩业的景气高峰时，分别于中国澳门、新加坡与美国本土启动了耗资巨大的项目投资。但当银行于2008年9月后停止拆借，金沙集团宏伟的三地扩张计划顿时陷入融资困境，一路下滑的股价更令其信贷违约率大幅飙升。
豪赌狮城金沙集团只能收缩战线
1月28日，澳门金光大道，除了熙熙攘攘、前往澳门威尼斯人与落成不久的澳门四季酒店的游客外，伫立在威尼斯人这幢亚洲第二大单体建筑物对面的金光大道第五、第六期工程，也让人无法忽视。
这个庞大的建筑工程，是为容纳喜来登、香格里拉等四家五星级酒店而兴建的，外观看来已经封顶。但自去年11月，随着近一万名建筑工人被解雇，这个半成品便没有任何变化，只留下灰色的水泥钢筋外表。
金沙集团的负责人对记者表示，停工是“暂时”安排，但没有给出复工时间表。在2008年11月澳门项目停工后，金沙集团亚洲总裁StephenWeaver表示，若要继续发展澳门威尼斯人第五、第六期工程，需另外再融资15亿－20亿美元，但额外的资金何时到位难以估计。他强调，集团目前虽已完成21.4亿美元融资，但有关资金仅用于继续支持新加坡项目。新加坡滨海湾金沙于2006年4月宣布奠基时，计划耗资36亿美元。
现金耗尽流动性危机显现
金沙集团一手酝酿的危机，与违反巴菲特所谓“恐惧与贪婪”原则的房地产商并无二致。即在经济景气高峰时，在“贪婪”的驱动下，大肆跑马圈地，同时发展数个大规模项目，但当市况逆转，却缺乏足够的“恐惧”，无法全身而退。
美国经济衰退对拉斯维加斯的酒店、博彩业的打击，金沙的股价也上演高台跳水，从2008年9月30日的36美元，下滑至10月28日的4.95美元。与2007年的股价峰值相比，金沙集团跌去了96%的市值。
标普与穆迪均迅速表示，金沙集团在澳门的现金已经耗尽，而在资产缩水的情况下，金沙的违约风险大大提升。
取舍逻辑为何牺牲澳门金光大道
新加坡则拥有更值得下注的基本面。“澳门只有54万人口，但新加坡有460万人口，而且54%的新加坡人承认在过去12个月曾经进行赌博，在2007年有100万新加坡人前往马来西亚云顶赌场，新加坡赛马俱乐部拥有超过7000名VIP会员，他们在每个赛马日的人均下注额高达6.5万美元。”此外，澳门的赌牌数目为6个，而新加坡只有两个，澳门的赌场多达31个，新加坡只有两个。
降低债务金沙策略是资产变现
金沙集团的总裁兼COOWilliamWeidner，在2月11日的分析师会议上介绍，集团拟定以保存和创造流动性为出发点的三大战略。“策略之一，现金流最大化策略，从拉斯维加斯与澳门的业务获得现金流；之二，在进度内完成新加坡与宾州项目，确保不超支；之三，出售非核心资产。”
他承认，公司正快速推进澳门威尼斯人以及澳门四季的商铺物业、澳门四季酒店公寓的销售。“我们明白现时的市况不是销售物业的好时机，但回笼现金是我们的重要策略。资产出售有助于降低澳门的债务，令公司降低杠杆。”
Source
一度与何鸿燊隔空对骂的谢尔登·阿德尔森（SheldonAdelson），未必能欣赏前者的幽默。
阿德尔森一手创办的美国博彩业旗舰——拉斯维加斯金沙集团（NYSE：LVS，下文简称“金沙集团”），在寰球博彩业的景气高峰时，分别于中国澳门、新加坡与美国本土启动了耗资巨大的项目投资。但当银行于2008年9月后停止拆借，金沙集团宏伟的三地扩张计划顿时陷入融资困境，一路下滑的股价更令其信贷违约率大幅飙升。
豪赌狮城金沙集团只能收缩战线
1月28日，澳门金光大道，除了熙熙攘攘、前往澳门威尼斯人与落成不久的澳门四季酒店的游客外，伫立在威尼斯人这幢亚洲第二大单体建筑物对面的金光大道第五、第六期工程，也让人无法忽视。
这个庞大的建筑工程，是为容纳喜来登、香格里拉等四家五星级酒店而兴建的，外观看来已经封顶。但自去年11月，随着近一万名建筑工人被解雇，这个半成品便没有任何变化，只留下灰色的水泥钢筋外表。
金沙集团的负责人对记者表示，停工是“暂时”安排，但没有给出复工时间表。在2008年11月澳门项目停工后，金沙集团亚洲总裁StephenWeaver表示，若要继续发展澳门威尼斯人第五、第六期工程，需另外再融资15亿－20亿美元，但额外的资金何时到位难以估计。他强调，集团目前虽已完成21.4亿美元融资，但有关资金仅用于继续支持新加坡项目。新加坡滨海湾金沙于2006年4月宣布奠基时，计划耗资36亿美元。
现金耗尽流动性危机显现
金沙集团一手酝酿的危机，与违反巴菲特所谓“恐惧与贪婪”原则的房地产商并无二致。即在经济景气高峰时，在“贪婪”的驱动下，大肆跑马圈地，同时发展数个大规模项目，但当市况逆转，却缺乏足够的“恐惧”，无法全身而退。
美国经济衰退对拉斯维加斯的酒店、博彩业的打击，金沙的股价也上演高台跳水，从2008年9月30日的36美元，下滑至10月28日的4.95美元。与2007年的股价峰值相比，金沙集团跌去了96%的市值。
标普与穆迪均迅速表示，金沙集团在澳门的现金已经耗尽，而在资产缩水的情况下，金沙的违约风险大大提升。
取舍逻辑为何牺牲澳门金光大道
新加坡则拥有更值得下注的基本面。“澳门只有54万人口，但新加坡有460万人口，而且54%的新加坡人承认在过去12个月曾经进行赌博，在2007年有100万新加坡人前往马来西亚云顶赌场，新加坡赛马俱乐部拥有超过7000名VIP会员，他们在每个赛马日的人均下注额高达6.5万美元。”此外，澳门的赌牌数目为6个，而新加坡只有两个，澳门的赌场多达31个，新加坡只有两个。
降低债务金沙策略是资产变现
金沙集团的总裁兼COOWilliamWeidner，在2月11日的分析师会议上介绍，集团拟定以保存和创造流动性为出发点的三大战略。“策略之一，现金流最大化策略，从拉斯维加斯与澳门的业务获得现金流；之二，在进度内完成新加坡与宾州项目，确保不超支；之三，出售非核心资产。”
他承认，公司正快速推进澳门威尼斯人以及澳门四季的商铺物业、澳门四季酒店公寓的销售。“我们明白现时的市况不是销售物业的好时机，但回笼现金是我们的重要策略。资产出售有助于降低澳门的债务，令公司降低杠杆。”
Source
Wednesday, March 4, 2009
Sands Singapore resort on track for December open
Sands Singapore resort on track for December open
Las Vegas Sands Corp., which suspended construction last year at two sites in Macau, said Wednesday it's on schedule to open a $5.4 billion Singapore casino resort in December.
The casino operator said most of the 2,500-room Marina Bay Sands will be ready by the end of the year. It will be Singapore's first casino.
In addition to gambling facilities, the resort will feature an art and science museum, 300 retail stores, and three 55-story hotel towers connected at the top with a pool, restaurant and observation deck.
Last Vegas Sands is counting on the Marina Bay Sands to help boost its overall revenue and avoid a debt default. Sands, which owns the Palazzo and Venetian resorts in Las Vegas, had to shut down building in Macau after financing dried up.
"What happened in Macau certainly won't happen here in Singapore," said Bradley Stone, the company's president of global operations and construction. "This project is fully-funded."
The resort is part of Singapore's effort to develop a marina area next to downtown into an entertainment and tourist attraction. But the city-state expects tourism revenue to plunge as much as 19 percent this year as a global economic slowdown undermines spending on travel.
"We know the economic situation," said Nigel Roberts, president of Marina Bay Sands. "But we have a product that's going to be stupendous and will override that."
Source
Las Vegas Sands Corp., which suspended construction last year at two sites in Macau, said Wednesday it's on schedule to open a $5.4 billion Singapore casino resort in December.
The casino operator said most of the 2,500-room Marina Bay Sands will be ready by the end of the year. It will be Singapore's first casino.
In addition to gambling facilities, the resort will feature an art and science museum, 300 retail stores, and three 55-story hotel towers connected at the top with a pool, restaurant and observation deck.
Last Vegas Sands is counting on the Marina Bay Sands to help boost its overall revenue and avoid a debt default. Sands, which owns the Palazzo and Venetian resorts in Las Vegas, had to shut down building in Macau after financing dried up.
"What happened in Macau certainly won't happen here in Singapore," said Bradley Stone, the company's president of global operations and construction. "This project is fully-funded."
The resort is part of Singapore's effort to develop a marina area next to downtown into an entertainment and tourist attraction. But the city-state expects tourism revenue to plunge as much as 19 percent this year as a global economic slowdown undermines spending on travel.
"We know the economic situation," said Nigel Roberts, president of Marina Bay Sands. "But we have a product that's going to be stupendous and will override that."
Source
LV Sands says to open S'pore casino-resort in phases
SINGAPORE, Mar 4 (Reuters) - Las Vegas Sands said on Wednesday it will open its Singapore casino-resort in phases starting end-2009.
The company had earlier said the entire project would be up-and-running by that time.
"We are working closely with the government and will provide an update soon," said a spokeswoman for Marina Bay Sands, which is the name of the U.S. operator's $5.4 billion casino-cum-hotel resort that is under construction in Singapore.
George Tanasijevich, general manager of the Marina Bay Sands and executive in charge of the Singapore development, had earlier told reporters during a site tour that the project will be 50 percent completed by year-end.
Singapore legalised casino gaming in 2005 as part of an ambitious plan to make the city more exciting and double annual visitor arrivals to 17 million by 2015. The Marina Bay Sands, located at the edge of the central business district, will be the first of the city-state's two casinos.
The phased opening of the $5.4 billion casino-resort will, however, ease pressure on hoteliers in Singapore, where visitor arrivals fell 12.9 percent in January from a year ago due to the global economic downturn.
The average hotel room rate in Singapore fell 11.7 percent to S$209 ($135) in January, while hotel occupancy plunged to 67 percent from 85 percent a year earlier, the Singapore Tourism Board said last week.
Singapore currently has around 32,000 hotel rooms and the upcoming Marina Bay Sands and Resorts World at Sentosa will add over 4,000 rooms to the total supply next year.
Marina Bay Sands officials said on Wednesday that all 2,600 hotel rooms will be open by next year, while Resorts World has said that four of its six hotels will be ready by the first quarter of 2010.
Resorts World, located on the resort-island of Sentosa, is being developed by Genting International , a unit of Malaysian casino operator Genting Bhd . When ready, the development will have around 1,800 rooms. ($1=1.551 Singapore Dollar)
The company had earlier said the entire project would be up-and-running by that time.
"We are working closely with the government and will provide an update soon," said a spokeswoman for Marina Bay Sands, which is the name of the U.S. operator's $5.4 billion casino-cum-hotel resort that is under construction in Singapore.
George Tanasijevich, general manager of the Marina Bay Sands and executive in charge of the Singapore development, had earlier told reporters during a site tour that the project will be 50 percent completed by year-end.
Singapore legalised casino gaming in 2005 as part of an ambitious plan to make the city more exciting and double annual visitor arrivals to 17 million by 2015. The Marina Bay Sands, located at the edge of the central business district, will be the first of the city-state's two casinos.
The phased opening of the $5.4 billion casino-resort will, however, ease pressure on hoteliers in Singapore, where visitor arrivals fell 12.9 percent in January from a year ago due to the global economic downturn.
The average hotel room rate in Singapore fell 11.7 percent to S$209 ($135) in January, while hotel occupancy plunged to 67 percent from 85 percent a year earlier, the Singapore Tourism Board said last week.
Singapore currently has around 32,000 hotel rooms and the upcoming Marina Bay Sands and Resorts World at Sentosa will add over 4,000 rooms to the total supply next year.
Marina Bay Sands officials said on Wednesday that all 2,600 hotel rooms will be open by next year, while Resorts World has said that four of its six hotels will be ready by the first quarter of 2010.
Resorts World, located on the resort-island of Sentosa, is being developed by Genting International , a unit of Malaysian casino operator Genting Bhd . When ready, the development will have around 1,800 rooms. ($1=1.551 Singapore Dollar)
Tuesday, March 3, 2009
IRs to recruit casino staff Thur
SINGAPOREANS wishing to try their hand at dealing cards at a casino can apply for jobs this week at the two upcoming integrated resorts.
Resorts World at Sentosa (RWS) and Marina Bay Sands will both kick off their first recruitment drive for gaming staff, together with other non-gaming positions, at the Career 2009 & Education 2009 fair starting Thursday.
The gaming positions available include dealers, pit supervisors and surveillance operators.
Ms Seah-Khoo Ee Boon, RWS' senior vice-president for human resources and training said hiring for some positions like the casino and Universal Studios theme park has to start earlier as more training may be required.
She added that up to six months will be set aside to prepare staff for the work at the resorts expected to attract thousands of punters when their doors open.
One fifth of the 800 jobs on offer by RWS will be for the casino with the rest for other areas including technical services, IT, human resource and resort services.
Marina Bay Sands' president Nigel Roberts said it has 'thousands of jobs' on offer but did not specify the total number or proportion of jobs available.
Both IRs said they are looking for people with an 'innate passion and motivation to serve'.
For those who wish to try for a casino job, Marina Bay Sands said it does not require new hires to go through formal casino training as in-house training will be provided.
Source
Resorts World at Sentosa (RWS) and Marina Bay Sands will both kick off their first recruitment drive for gaming staff, together with other non-gaming positions, at the Career 2009 & Education 2009 fair starting Thursday.
The gaming positions available include dealers, pit supervisors and surveillance operators.
Ms Seah-Khoo Ee Boon, RWS' senior vice-president for human resources and training said hiring for some positions like the casino and Universal Studios theme park has to start earlier as more training may be required.
She added that up to six months will be set aside to prepare staff for the work at the resorts expected to attract thousands of punters when their doors open.
One fifth of the 800 jobs on offer by RWS will be for the casino with the rest for other areas including technical services, IT, human resource and resort services.
Marina Bay Sands' president Nigel Roberts said it has 'thousands of jobs' on offer but did not specify the total number or proportion of jobs available.
Both IRs said they are looking for people with an 'innate passion and motivation to serve'.
For those who wish to try for a casino job, Marina Bay Sands said it does not require new hires to go through formal casino training as in-house training will be provided.
Source
Monday, November 10, 2008
博彩公司考察韩国投资机会
《南华早报》(South China Morning Post)周一援引韩国政府方面的消息报导，信德集团有限公司(Shun Tak Holdings Ltd., 0242.HK, 简称：信德集团)、美高梅金殿梦幻(MGM MIRAGE, MGM)、拉斯维加斯金沙集团股份有限公司(Las Vegas Sands Corp., LVS)和云顶集团(Genting Group)等博彩运营商被邀前往韩国考察博彩和娱乐场投资机会。
《南华早报》援引Jeju Free International City Development总经理Cha Woo-jin报导称，上述4家公司和其他一些小投资者3个月前被邀前往韩国济州岛进行了实地考察，以评估当地的投资潜力。
但Cha表示，韩国的禁赌法令可能将构成障碍，政府正在考虑取消禁令。
Cha表示，第一家外资赌场最早要到2015年才能开张。
《南华早报》援引Jeju Free International City Development总经理Cha Woo-jin报导称，上述4家公司和其他一些小投资者3个月前被邀前往韩国济州岛进行了实地考察，以评估当地的投资潜力。
但Cha表示，韩国的禁赌法令可能将构成障碍，政府正在考虑取消禁令。
Cha表示，第一家外资赌场最早要到2015年才能开张。
CapitaLand says no casino talks with Las Vegas Sands
SINGAPORE, Nov 10 (Reuters) - Property developer CapitaLand said on Monday it has not held any talks with Las Vegas Sands over its Singapore casino-resort project, but will explore opportunities to invest in distressed assets.
The statement came after brokerage firm CIMB said in a report on Monday that CapitaLand, Southeast Asia's biggest property firm, and the Singapore government may take over the casino-resort if Las Vegas Sands fails to avert loan defaults.
Local newspapers have reported that Las Vegas Sands had held talks with the Singapore government about the project, which is targeted to open at the end of 2009.
"CapitaLand wishes to clarify that no discussion has transpired between itself and Sands," it said in a statement.
"In the present continuing global recessionary environment, it is strategically watching the situation and studying opportunities related to distressed companies or assets, in Singapore and other core markets," CapitaLand said.
CapitaLand is 40 percent owned by Singapore sovereign wealth fund Temasek Holdings.
Last week Las Vegas Sands affirmed its commitment to the Marina Bay project in Singapore as investors became concerned about its fate after the casino operator's auditor said there are doubts about the company's ability to continue as a going concern.
The statement came after brokerage firm CIMB said in a report on Monday that CapitaLand, Southeast Asia's biggest property firm, and the Singapore government may take over the casino-resort if Las Vegas Sands fails to avert loan defaults.
Local newspapers have reported that Las Vegas Sands had held talks with the Singapore government about the project, which is targeted to open at the end of 2009.
"CapitaLand wishes to clarify that no discussion has transpired between itself and Sands," it said in a statement.
"In the present continuing global recessionary environment, it is strategically watching the situation and studying opportunities related to distressed companies or assets, in Singapore and other core markets," CapitaLand said.
CapitaLand is 40 percent owned by Singapore sovereign wealth fund Temasek Holdings.
Last week Las Vegas Sands affirmed its commitment to the Marina Bay project in Singapore as investors became concerned about its fate after the casino operator's auditor said there are doubts about the company's ability to continue as a going concern.
Thursday, October 30, 2008
Singapore's casino opening to be delayed-report
SINGAPORE, Oct 30 (Reuters) - The full opening of one of Singapore's casinos may be delayed due to construction issues and a shortage of labour, a local newspaper reported on Thursday.
The Marina Bay Sands integrated resort, awarded to Las Vegas Sands (LVS.N: Quote, Profile, Research, Stock Buzz) in 2006, is several months behind schedule, the pro-government daily Straits Times said, citing sources. The casino was due to open at the end of 2009.
The newspaper said the foundation work for the casino was delayed three to four months and quoted sources as saying it was "impossible" for all its facilities to be fully operational by the end of 2009.
Marina Bay Sands officials were not immediately available for comment.
Built on reclaimed land from the sea, the project is one of two multi-billion dollar casinos under construction since Singapore legalised casino gaming in 2005 to attract more tourists.
The second casino, Resorts World at Sentosa, is being built by Genting International (GNTG.SI: Quote, Profile, Research, Stock Buzz) and is scheduled for completion in 2010.
Resorts World may also see a delay in the opening of some of its facilities, although a casino spokeswoman said it was "on track" for a "soft opening" in 2010, the paper said.
The two casinos have been hit by higher construction costs since building began, causing Genting International to revise its costs for Resorts World up 15 percent to S$6 billion last year.
(Reporting by Melanie Lee; Editing by Anshuman Daga)
Source
The Marina Bay Sands integrated resort, awarded to Las Vegas Sands (LVS.N: Quote, Profile, Research, Stock Buzz) in 2006, is several months behind schedule, the pro-government daily Straits Times said, citing sources. The casino was due to open at the end of 2009.
The newspaper said the foundation work for the casino was delayed three to four months and quoted sources as saying it was "impossible" for all its facilities to be fully operational by the end of 2009.
Marina Bay Sands officials were not immediately available for comment.
Built on reclaimed land from the sea, the project is one of two multi-billion dollar casinos under construction since Singapore legalised casino gaming in 2005 to attract more tourists.
The second casino, Resorts World at Sentosa, is being built by Genting International (GNTG.SI: Quote, Profile, Research, Stock Buzz) and is scheduled for completion in 2010.
Resorts World may also see a delay in the opening of some of its facilities, although a casino spokeswoman said it was "on track" for a "soft opening" in 2010, the paper said.
The two casinos have been hit by higher construction costs since building began, causing Genting International to revise its costs for Resorts World up 15 percent to S$6 billion last year.
(Reporting by Melanie Lee; Editing by Anshuman Daga)
Source
Thursday, November 29, 2007
Singapore keeps up the tempo to attract new business at EIBTM
Wednesday, November 28, 2007
Capitalising on Singapore’s recent ranking among the world’s top three cities for meetings and as Asia’s top Country and City for meetings by the Union of International Associations, the Singapore Exhibition and Convention Bureau (SECB), a group of the Singapore Tourism Board is attending EIBTM, the global meetings and incentives exhibition in Barcelona, Spain, together with a delegation of 19 Singapore tourism organisations.
The Singapore delegation will share with the European MICE industry the latest developments in Singapore’s business events industry and showcase upcoming landmark projects as it continues to attract and spearhead major tourism investments that will significantly transform the cityscape and enhance Singapore's appeal as a premier and vibrant business destination.
Last year Singapore’s Business Travel and Meetings, Incentives, Exhibition and Convention (BTMICE) industry performed strongly, accounting for 3 million visitor arrivals in Singapore, 28% of the total and 35% or €2 billion of total tourism receipts. The performance reflects the SECB’s business strategy focus on securing business events centered on Singapore’s key economic drivers and leveraging its strategic location in Asia-Pacific and pro-business environment.
Some of the new events that Singapore has secured include Games Convention Asia 2007, Imaging Expo Singapore and P.I.X - Photo Imaging X-change 2007, FDI World Dental Federation Congress, International Conference on Thalassaemia and Haemoglobinopathies and the inaugural ITB Asia. These events, being staged or home-based in Singapore, were drawn to Singapore’s effective reach into Asia- Pacific for new markets and networks development as well as the support rendered by SECB and the industry through the “BE in Singapore” incentive scheme designed to help MICE organisers stage a successful event in Singapore.
Mr Aloysius Arlando, Assistant Chief Executive (BTMICE Group), STB said: “Singapore has witnessed sterling results in recent times as we ramp up our efforts to capture a bigger slice of the BTMICE market. However, in today’s competitive environment, it is no longer enough to have an established track record, quality infrastructure, strong transportation, trade and communication connectivity. A dynamic and integrated MICE city also needs the “X-factor” - vibrancy, colour and excitement to draw business events and discerning business travellers from all over the world.”
Construction and development is feverishly underway to realise this ambition and a raft of new projects are planned to come on stream over the next three years which will further enhance the BTMICE experience.
Opening in March 2008, the much anticipated Singapore Flyer, the world’s highest observation wheel, will be Singapore’s most visible attraction, offering visitors a breathtaking view out over the South China Sea. The panoramic views of the glimmering harbour and city skyscrapers will create a visually exciting venue for groups holding private functions and meetings.
In September 2008, subject to final safety approvals, Singapore will host the world’s first ever Formula One night race which will also be the first Formula One street race in Asia, making it perhaps the most spectacular event in the history of the sport.
Opening in 2009, is Marina Bay Sands, a high intensity mixed-use integrated resort located along the vibrant Marina Bay waterfront. It will add more than 100,000 sq m of MICE space and 2,500 hotel rooms to Singapore’s tourism infrastructure along with enhancing Singapore’s entertainment, retail and dining scene.
Mr Arlando said: “Singapore must continue to attract and spearhead major tourism investments and lifestyle attractions that will augment Singapore’s position as a vibrant destination for BTMICE travelers. Iconic projects like these will not only increase Singapore’s MICE space, but enhance the appeal of Singapore as a destination that offers a unique and all-encompassing experience for all business delegates.”
Resorts World at Sentosa, opening in 2010, will further position Singapore as a fun and exciting incentive travel destination. It will offer four major attractions including the very first Universal Studios theme park in Southeast Asia, along with other lifestyle experiences including a plethora of dining outlets, shopping options, outdoor entertainment and six hotels offering some 1,800 rooms.
Other inventive developments in the pipeline that will provide facilities for MICE events include the Gardens by the Bay, a SGD1 billion (€500 million), 94 hectare green oasis in the heart of Singapore’s Central Business District, reinforcing Singapore’s tropical garden city reputation.
Mr Arlando concluded: “Amidst intensifying competition, Singapore is keenly aware of the need to continually re-invent itself to remain a relevant, compelling and appealing MICE destination. We are moving beyond being merely an efficient and effective venue. In addition to offering a full complement of products and attractions, we are able to provide a personalised service that caters for the individual needs of the business traveler and MICE organiser. Through investment and partnerships, we are striving to be a catalyst for business success and an exchange capital of the world where people, technology and ideas converge to create value for both business events and visitors. I’m confident that the buoyant outlook of the Singapore’s MICE industry will continue, especially with the vibrant calendar of business events in the pipeline, and many exciting tourism developments in the coming years.”
Wednesday, November 28, 2007
Capitalising on Singapore’s recent ranking among the world’s top three cities for meetings and as Asia’s top Country and City for meetings by the Union of International Associations, the Singapore Exhibition and Convention Bureau (SECB), a group of the Singapore Tourism Board is attending EIBTM, the global meetings and incentives exhibition in Barcelona, Spain, together with a delegation of 19 Singapore tourism organisations.
The Singapore delegation will share with the European MICE industry the latest developments in Singapore’s business events industry and showcase upcoming landmark projects as it continues to attract and spearhead major tourism investments that will significantly transform the cityscape and enhance Singapore's appeal as a premier and vibrant business destination.
Last year Singapore’s Business Travel and Meetings, Incentives, Exhibition and Convention (BTMICE) industry performed strongly, accounting for 3 million visitor arrivals in Singapore, 28% of the total and 35% or €2 billion of total tourism receipts. The performance reflects the SECB’s business strategy focus on securing business events centered on Singapore’s key economic drivers and leveraging its strategic location in Asia-Pacific and pro-business environment.
Some of the new events that Singapore has secured include Games Convention Asia 2007, Imaging Expo Singapore and P.I.X - Photo Imaging X-change 2007, FDI World Dental Federation Congress, International Conference on Thalassaemia and Haemoglobinopathies and the inaugural ITB Asia. These events, being staged or home-based in Singapore, were drawn to Singapore’s effective reach into Asia- Pacific for new markets and networks development as well as the support rendered by SECB and the industry through the “BE in Singapore” incentive scheme designed to help MICE organisers stage a successful event in Singapore.
Mr Aloysius Arlando, Assistant Chief Executive (BTMICE Group), STB said: “Singapore has witnessed sterling results in recent times as we ramp up our efforts to capture a bigger slice of the BTMICE market. However, in today’s competitive environment, it is no longer enough to have an established track record, quality infrastructure, strong transportation, trade and communication connectivity. A dynamic and integrated MICE city also needs the “X-factor” - vibrancy, colour and excitement to draw business events and discerning business travellers from all over the world.”
Construction and development is feverishly underway to realise this ambition and a raft of new projects are planned to come on stream over the next three years which will further enhance the BTMICE experience.
Opening in March 2008, the much anticipated Singapore Flyer, the world’s highest observation wheel, will be Singapore’s most visible attraction, offering visitors a breathtaking view out over the South China Sea. The panoramic views of the glimmering harbour and city skyscrapers will create a visually exciting venue for groups holding private functions and meetings.
In September 2008, subject to final safety approvals, Singapore will host the world’s first ever Formula One night race which will also be the first Formula One street race in Asia, making it perhaps the most spectacular event in the history of the sport.
Opening in 2009, is Marina Bay Sands, a high intensity mixed-use integrated resort located along the vibrant Marina Bay waterfront. It will add more than 100,000 sq m of MICE space and 2,500 hotel rooms to Singapore’s tourism infrastructure along with enhancing Singapore’s entertainment, retail and dining scene.
Mr Arlando said: “Singapore must continue to attract and spearhead major tourism investments and lifestyle attractions that will augment Singapore’s position as a vibrant destination for BTMICE travelers. Iconic projects like these will not only increase Singapore’s MICE space, but enhance the appeal of Singapore as a destination that offers a unique and all-encompassing experience for all business delegates.”
Resorts World at Sentosa, opening in 2010, will further position Singapore as a fun and exciting incentive travel destination. It will offer four major attractions including the very first Universal Studios theme park in Southeast Asia, along with other lifestyle experiences including a plethora of dining outlets, shopping options, outdoor entertainment and six hotels offering some 1,800 rooms.
Other inventive developments in the pipeline that will provide facilities for MICE events include the Gardens by the Bay, a SGD1 billion (€500 million), 94 hectare green oasis in the heart of Singapore’s Central Business District, reinforcing Singapore’s tropical garden city reputation.
Mr Arlando concluded: “Amidst intensifying competition, Singapore is keenly aware of the need to continually re-invent itself to remain a relevant, compelling and appealing MICE destination. We are moving beyond being merely an efficient and effective venue. In addition to offering a full complement of products and attractions, we are able to provide a personalised service that caters for the individual needs of the business traveler and MICE organiser. Through investment and partnerships, we are striving to be a catalyst for business success and an exchange capital of the world where people, technology and ideas converge to create value for both business events and visitors. I’m confident that the buoyant outlook of the Singapore’s MICE industry will continue, especially with the vibrant calendar of business events in the pipeline, and many exciting tourism developments in the coming years.”
Wednesday, November 21, 2007
Las Vegas Sands
Luxury mega-casinos planned to transform Atlantic City by 2012By Wayne Parry, THE ASSOCIATED PRESS
High-end shops can be seen along a street near hotels and casinos in Atlantic City, N.J. THE ASSOCIATED PRESS/Mel Evans
Five years from now, you might not even recognize this place.
A burst of new, luxurious mega-casino projects to be built by 2012 will transform the face of Atlantic City into a more futuristic - and crowded - gambling resort.
At least four companies are betting a combined US$9 billion that the makeover will help Atlantic City catch up with Las Vegas as a place to come - and stay - for more than just gambling.
In early November, Revel Entertainment Group unveiled drawings of its new $2 billion casino-resort, to be called simply "Revel." Due to open in the second half of 2010, at 216 metres, it will be the tallest building in Atlantic City - at least for a while.
It will feature two thin towers standing perpendicular to the ocean, with as many as 3,900 rooms, and even Atlantic City's first casino wedding chapel. The interior complex, between the towers, is curved and rounded so that it looks as if it has been shaped by gentle ocean waves.
Revel is partnering with investment firm Morgan Stanley on the project.
It will become Atlantic City's 12th casino, and the first new one to open since the Borgata Hotel Casino & Spa debuted in 2003 and redefined the public's image of what the Las Vegas experience should look and feel like in New Jersey.
Hot on the heels of "Revel" will be other mega-casinos to be built by Pinnacle Entertainment on the site of the former Sands Hotel Casino, opening in late 2011 or early 2012. The granddaddy of them all, a $5 billion casino resort planned by MGM Mirage in the marina district next to the Borgata, will be the largest project Atlantic City has ever seen when the first dice start tumbling in 2012.
The burst of new investment is the largest in Atlantic City since the start of casino gambling in 1978.
"Since the inception of New Jersey's gaming industry, there has been approximately $12 billion of capital investment to date," said Joseph Corbo, president of the Casino Association of New Jersey. "While that is significant by any standard, what is very encouraging is that about $4 billion of that investment was made in the past four years or so."
Pinnacle has been tight-lipped about its Atlantic City project, other than to estimate its price at between $1.5 and $2 billion. It won't say what it will look like or even what it will be called.
But the company's chairman and CEO, Daniel Lee, said that in addition to its Boardwalk project, Pinnacle might consider joining the scrum of casino operators vying to build on the former Bader Field airport property, a 60-hectare tract whose land alone could fetch $1 billion on the open market.
"We have two in St. Louis; we could have two in Atlantic City," Lee said.
It marked a turnaround for Pinnacle, which had threatened for months to scrap its Boardwalk project if the city and state permitted someone else to build a casino on Bader Field. The company maintained it would be at a competitive disadvantage because the newcomer would not have to buy multiple parcels, knock down buildings and clean up the site - as Pinnacle is doing on the Sands property.
Corbo estimated as many as three new casinos could be built at Bader Field if a city panel determines casino development is right for the area.
Saving the biggest for last, "MGM Atlantic City" will wrest the title from Revel as Atlantic City's tallest building when it opens in 2012. It will have three hotel towers with a combined total of more than 3,000 rooms, the largest casino floor in Atlantic City with 5,000 slot machines, 200 table games and 46,450 square metres of retail space, among other attractions.
MGM is a partner in The Borgata with Boyd Gaming.
A possible fourth new casino to be built on land near the Atlantic City Hilton Casino Resort by Curtis Bashaw, the former Casino Reinvestment chairman, and Wally Barr, the former chief executive officer of Caesar's Entertainment, is also on the drawing board.
The new casinos will join an already-expanding skyline: The Borgata, Trump Taj Mahal Casino resort, and Harrah's Atlantic City are all building second hotel towers. Earlier this year, the Hilton floated the idea of a $1 billion expansion, but company officials won't say if that's still on the table.
The new investment is not only attracting others interested in entering the Atlantic City market, but also forcing those already here to spend more to keep up or risk becoming irrelevant.
"This is exactly the development cycle that Las Vegas has experienced over the past 15 to 20 years, and is what Atlantic City is poised to achieve as well," Corbo said.
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