MGM Raises $5.1 Billion in Vegas Resorts Sale

MGM Raises $5.1 Billion in Vegas Resorts Sale

12 YEARS A-CHANGIN’ Double Down! ADVERTISING HERE Kowie Geldenhuys Paulo Coutinho www.macaudailytimes.com.mo +853 287 160 81 FOUNDER & PUBLISHER EDITOR-IN-CHIEF THURSDAY T. 23º/ 29º Air Quality Good MOP 8.00 3396 “ THE TIMES THEY ARE A-CHANGIN’ ” N.º 17 Oct 2019 HKD 10.00 THE DEVELOPER AND PROMOTER NEW PHILANTHROPY THE MACAU PASSPORT IS OF THE 13 HOTEL IS WORKING GETTING AN UPDATE WITH HARD TO DISPOSE OF SHARES IN GROUP SEES IMPROVED SECURITY MEASURES THE TROUBLED PROJECT OPPORTUNITY IN MACAU TO COMBAT COUNTERFEITS P2 P2,18 P7 AP PHOTO CARRIE LAM THWARTED China Tech giant Huawei P8-9 yesterday reported a double-digit gain in sales despite U.S. sanctions IN POLICY ADDRESS that threaten to disrupt AP PHOTO its smartphone and network equipment businesses. Huawei Technologies Ltd. said its sales rose 24.4% in the first nine months of 2019 to 610.8 billion yuan. USA-China President Donald Trump said a trade deal with China probably will not be signed until he meets with Chinese President Xi Jinping at the APEC summit next month in Chile. Philippines A strong and shallow earthquake struck a southern Philippine province and outlying areas yesterday night, damaging a small college building in one city and prompting residents to dash out of homes and shopping malls in panic, officials said. Thailand The Supreme Court has ordered three leaders of the Red Shirt political movement to pay USD691,000 compensation to business owners whose commercial buildings were set on fire at the climax of two months of aggressive street protests in 2010. AP PHOTO Japan Amid concern about the expected searing heat in Tokyo, the International Olympic Committee wants to move the 2020 Olympic marathons 800 MGM raises $5.1 billion kilometers north to find cooler and safer race conditions. in Vegas resorts sale More on backpage P6 GAMING page 2 www.macaudailytimes.com.mo MACAU 澳聞 17.10.2019 thu MACAU’S LEADING NEWSPAPER Three fined for Kong-listed “e-logistics” and publicizing others’ mining company called CST Group Ltd said on Tuesday it personal data BLOOMBERG had an agreement to acquire Three violators have been fined a 10-percent equity interest between MOP4,000 and MOP10,000 in an entity that owns The 13 each by the Personal Data Protection Hotel, in exchange for a cash Office for posting other people’s consideration of HKD150 personal data on social media million. websites. Aiming to exact retribution CST Group said in its own for a friend, a user posted a picture filing that the acquisition and texts depicting the allegedly would help the company to indecent romantic life of another user. diversify its investment port- The violator was fined MOP10,000. folio and open the door to the In another case, an Internet store Macau property market. customer accused the owner of poor In August 2019, South Sho- service. The shop owner then posted re announced that it was in their text message communications, discussions to dispose of a which included the complainant’s phone 60% stake in the subsidiary number, in defense. The Office ruled with an associate of a subs- against the disclosure of the phone tantial shareholder of the number, and fined the owner MOP4,000. company. Finally, a user was fined MOP10,000 for The 13 Hotel held a partial publicizing someone’s car plate number online. opening in late August last year without a casino. The troubled property was origi- Police discipline nally scheduled to open by commission member GAMING the end of the first quarter of praises restructure 2017, but the operating firm postponed its opening several Vong Hin Fai, a lawmaker and member South Shore selling 40% times. of the 15-year-old Disciplinary South Shore previously in- Commission for Security Forces, dicated that it wanted to open approves of the changes taking place stake in The 13 Hotel a casino in the first quarter of within the authority as he believes HE developer and promo- valued at HKD750 million, de- 40% stake, but it is believed 2019, but it has not struck a the measures will help improve its ter of The 13 Hotel said it veloper South Shore Holdin- to be the same investor who formal agreement with a Ma- independence. Vong said the main T has an agreement that could gs said in a filing to the Hong signed a memorandum of un- cau gaming concessionaire or progress relates to the inauguration lead to the disposal of a 40% Kong Stock Exchange on Tues- derstanding with South Shore sub-concessionaire. of a secretariat, which will be led by a secretary general. The restructured interest in the subsidiary that day. in January of this year. South Shore reported a net commission, meanwhile, will have owns the hotel project in sou- The filing did not identify Meanwhile, according to loss of HKD5.84 billion for the two consultants, instead of the thern Cotai. The stake was the prospective buyer of the a report by GGRAsia, a Hong fiscal year ending March 31. DB original one, and greater oversight authorized by the Chief Executive. The most important change, Vong said, is that the commission now has the authority to proactively conduct Association seeks George Chinnery simple investigations. If a complaint is verified, the Commission can require a to strengthen artworks on Macau report be submitted from the relevant department in 10 days. philanthropy network to be auctioned N association focusing on are some wealthy Chinese people WO rare, large lands- figures in the foregrou- Forex reserves edge Astrengthening philanthropy that are willing to give back to the Tcape artworks by nd,” which costs at least up in September was established in June this year, society,” she added. the British artist George HKD606,000, appears aiming to build Macau into a ne- For de Sousa, Macau could play Chinnery, who settled in to be taken from a high The preliminary estimate of the twork center for discussing philan- a significant role in connecting re- Macau in 1825, will be point above the inner Macau SAR’s foreign exchange thropy projects. gions in both the East and West to displayed at Bonhams harbor looking towards reserves amounted to 171 billion The main focus of Associação promote generosity and humani- Hong Kong from October the Casa Gardens. patacas (USD21.18 billion) at the end Internacional de Filantropia (Ma- tarianism. 21 to November 21. The other artwork is of September 2019, according to cau) is to provide a platform where “I think China has a big role to The artworks will be titled “The Grotto of Ca- an announcement by the Monetary Asian and Western concepts could play in the international agenda offered for sale in London moes, Macau,” and shows Authority of Macao. The reserves be shared on a transcultural basis because there are more and more in February 2020, with an the romantic visitor at- increased by 0.7% from the revised value of MOP169.8 billion for the that leads to a new and innovative wealthy people in China and I think estimated value of arou- traction that still over- previous month. At the end of perspective on philanthropy. it’s also part of the Chinese culture nd HKD520,000 to over looks the western point of September, the foreign exchange “In fact, the concept of philan- [to give back] in a sense of charity,” HKD866,000 each. the peninsula. reserves represented 10 times the thropy that is developed in the U.S. the association head explained. The paintings provide The British bought a currency in circulation. Meanwhile, the and in Western countries is very In the future, Associação Inter- a chance to compare the plot of land within the trade-weighted effective exchange rate different from the ones developed nacional de Filantropia (Macau) Macau of today with the grounds of the Casa from index for the pataca rose 0.59 points in Asia and in China,” said the pre- will hold forums and events that way it looked in the se- Pereira to create a Protes- month-to-month and 2.78 points year- sident of the association, Lurdes de will help boost the SAR’s role in the cond quarter of the 19th tant burial ground. Chin- on-year to 108.3 in September, implying Sousa. philanthropy sector. century. nery himself is buried that, in overall terms, the exchange rate “China is not so much integrated Macau Daily Times is the official “A view of Macau there, and a memorial to of pataca grew against the currencies of in the big network of philanthropy media partner of the association looking towards the gar- him still stands in the ce- Macau’s major trading partners. and we see that nowadays, there (see p18). LV dens of the Casa, with metery. www.macaudailytimes.com.mo EDITOR-IN-CHIEF (DIRECTOR)_Paulo Coutinho [email protected] A MACAU TIMES PUBLICATIONS LTD PUBLICATION MANAGING EDITOR_Daniel Beitler [email protected] CONTRIBUTING EDITORS_Eric Sautedé, Leanda Lee, Severo Portela, Sheyla Zandonai ADMINISTRATOR AND CHIEF EXECUTIVE OFFICER + 4 Million page views Kowie Geldenhuys [email protected] NEWSROOM AND CONTRIBUTORS_Albano Martins, Annabel Jackson, Anthony Lam, Emilie Tran, Irene Sam, OFFICE MANAGER Juliana Cheang [email protected] PER MONTH Ivo Carneiro de Sousa, Jacky I.F. Cheong, Jenny Lao-Phillips, João Palla Martins, Joseph Cheung, Julie Zhu, Juliet ADDRESS Av. da Praia Grande, 599, Edif. Comercial Rodrigues, 12 Floor C, Risdon, Linda Kennedy, Lynzy Valles, Paulo Cordeiro de Sousa, Renato Marques, Richard Whitfield, Viviana Seguí MACAU SAR Telephones: +853 287 160 81/2 Fax: +853 287 160 84 DESIGNERS_Eva Bucho, Miguel Bandeira | ASSOCIATE CONTRIBUTORS_JML Property, MdME Lawyers, Advertisement [email protected]

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