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ISSUE 118 - Feb 2014
What are your expectations for the gross gaming revenue growth of Macau’s gaming industry in 2014?
Growth above 10 percent
Growth from 0 to 10 percent

Shun Tak spends RMB721 mln on Hengqin land

Posted: 8/1/2013 12:28:17 PM
Rating:     0% ( votes)

Shun Tak Holdings Ltd says it will build a mixed-use development on a parcel of land at Hengqin Island.

The company told the Hong Kong Stock Exchange about the land deal yesterday. It paid RMB721 million (MOP939 million) for the site.

Shun Tak said it would build a hotel, offices, serviced apartments and commercial space on the 2.38-hectare plot with a maximum gross floor area of 131,089 square metres.

Shun Tak managing director Pansy Ho (pictured) said: “The location and strategic value of this Hengqin project naturally complement our existing hospitality business in Macau.”

The Hong Kong company, founded by gaming mogul Stanley Ho Hung Sun, runs ferries between Macau and Hong Kong, and has substantial real estate and hospitality interests here.

Other Macau Latest News

Macau Foundation hands out MOP510 mln in Q2

Educational foundations get the lion’s share for facilities or scholarships

Macau H1 hotel guests increase 1 pct to 5.3 mln

But June guests decrease 4 pct, reducing hotel occupancy rate to 86 pct

H1 cross-border trade drops 7.2 pct to US$1.66 bln

Despite 6.9 pct rise in value of June’s mainland-Macau trade to US$290 mln

June motorcycle sales rise 57 pct to 907

Over half the motor vehicles newly registered that month were motorbikes

Wynn Resorts boss says Wynn Palace to open on time

Steve Wynn aims to open the Cotai casino-resort at Lunar New Year in 2016

Wynn Resorts Q2 EBITDA in Macau US$307 mln

Casino operator’s VIP business dips while its mass-market business leaps

Nomura detects strong mass-market gaming trends

But thinks below-average win rate curbed VIP revenue in week ended July 27

Academic sceptical about economic diversification

Macau Polytechnic Institute teacher says city too small for greater variety

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