Macau has recently signed an agreement with a large gambling company, which enables the company to build a gambling resort and shopping district. The organization reveled that the price will be almost 1.55 billion patacas for the central location in Chinese city. Annual rent for this property is estimated to be 6.17 million patacas.
This deal helps the company to move on with the plans for a shopping area and for casino. As per Karen Tang, who is industry expert at Deutsche Bank AG, in the year 2015, this facility may open. He pointed out that in near future we may face "downside risks". United States economic problem, impact on China's factories and lack of Europe’s robust growth, all these will unfavorable impact on new casino's success.
The stock valuation for the company has shown an astonishing raise from +3.6 % in the morning of the announcement, to -10 % next day.
September 19, 2011, 10:37 am (2 months ago)
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