Mr Tracy’s term as president and chief executive officer of the company will now expire on August 26, 2013.

The new contract states that Mr Tracy will receive a base annual salary of US$1.2 million (MOP9.6 million) plus incentives.

Earlier this week, the company had already announced the grant of a total of 260,000 share options to Mr Tracy.

The company is still waiting for government approval, but Mr Bowie told local media that the property will include between 1,800 and 2,000 hotel rooms, and capacity for up to 500 gaming tables.

“We’re very satisfied with the progress we have had and I believe a decision will be eminent,” Mr Bowie was quoted by local media as saying.

The problem, the attorneys say, is that such improper acts never occurred.

Wynn Resorts is the parent company of Wynn Macau Ltd.

Wynn’s attorneys say in a brief filed yesterday to the Nevada court handling the case, that Mr Okada’s latest demand for company documents is a “fishing expedition” that should be rejected, the Las Vegas Sun reports.

Earlier, Mr Okada’s attorneys had requested the gaming operator to turn over records related to, among other things, the company entertaining and spending money on Macau officials in connection with its acquisition of a casino license in 2002.

“There are no such documents because Wynn Resorts does not ‘entertain’ or bribe government officials,” the gaming operators say.

The event is organized by the Macau Sport Development Board and the Volleyball Association of Macau.

This is the eighth consecutive year that the gaming operator has sponsored the Macau leg of the international tournament.

Meanwhile, to celebrate Galaxy Macau’s first anniversary, on Saturday Galaxy Entertainment Group is organizing a special 3D screening of the opera “Carmen” to raise funds for Orbis Macau’s sight-saving mission.

For the upcoming two weekends, Galaxy Macau will host the first international cultural capoeira encounter, which will feature a display of Brazilian dance, music and the unique capoeira martial arts.

English-language newspaper Business Daily reports that some real estate agents predict shop rents will increase, as there will be higher demand for retail stores as more visitors will visit the Ilha Verde neighbourhood.

The report quotes Chinese-language Macau Daily News as saying the new border will have the capacity for 200,000 visitors a day.

Other real estate agents say a 10-fold increase is “too optimistic” and a three or four fold increase would be more realistic. Property experts say the increase will depend on the nature of the border gate as well as when it will be completed.

While the prices of commercial properties are expected to increase, those of residential buildings are expected to remain stable.

According to English-language newspaper Business Daily, the branch will concentrate on corporate loans in Hong Kong and U.S. dollars.

“We will use Macau as a base to provide services to Taiwanese businesses in the neighbouring cities,” the bank’s assistant vice-president Hsin Chun Mei was quoted as saying.

The bank’s efforts to commence operations in Macau began three years ago, and got the go-ahead from the Monetary Authority of Macau last August.

With more than 90 years of history, Taiwan’s oldest bank Hua Nan has 185 domestic branches. Its overseas network includes branches in Hong Kong, Shenzhen and Sydney.

On an annual basis, renminibi credit cards recorded an upsurge of 122.1 percent to over 83,000 by the end of March.

The total number of personal credit cards in circulation stood at 575,000 at the end of March, equivalent to an increase of 3.2 percent since December last year.

For the first quarter of 2012, the credit card turnover in Macau slid 2.2 percent quarter-to-quarter to MOP2.7 billion. The cash advance turnover was MOP148.6 million, accounting for 5.4 percent of total credit card turnover.

Prices of one item surveyed even differed by over 80 percent in different outlets.

The price check covered 26 drugstores last week, surveying six different drugs, including remedies for cold and flu, cough syrup, and stomachache medicine.

The report quotes a source as saying that “the casino permission is just a formality and will happen very soon.”

Melco Crown’s co-chairman Lawrence Ho Yau Lung said during a conference call earlier this month that he is “optimistic” that works at the site can restart within the first half of this year.

In June last year, Mr Ho said that Studio City, located in Cotai, would open with 300 to 400 gaming tables and 1,200 slot machines, pending government approval.

Last December, Melco Crown submitted a formal request to include a casino in the Studio City project, after a statement was made by Secretary for Economy and Finance Francis Tam Pak Yuen that the government had yet to receive any application for including gaming elements in the project.

The Sands China Green Fund will have as its goal the promotion of environmental conservation at local schools, and will offer scholarships to local students.

In order to raise the money which will be donated to the Macau Ecological Society for the fund’s establishment, the charity event will conduct a silent auction, with 10 percent of table sales to be donated as well.

Sands China Ltd is matching dollar-for-dollar all funds raised at the ball.