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Daily Archives: April 14, 2009

Hengqin’s Ocean World construction to start in December

The construction of a 143-hectare Zhuhai Ocean World in Hengqin island, near Macau, is due to begin in December after  passed its preliminary environmental impact assessment,  according to a report from Ou Mun Daily.
The Macau newspaper said that preparation work is under way for a more detailed environmental study before construction begins in December. The project is expected to be completed in 2012.
A Zhuhai Chime-Long investment company plans to invest up to 430 million US dollars in the park.
The environmental impact assessment was posted Friday on the website of the Ministry of Environmental Protection's South China Institute of Environmental Science.
The investment company belongs to Chime-Long Group, a theme park conglomerate based in Guangzhou's  Panyu district.
The group runs a water theme park, a night-time zoo, a crocodile park, a wildlife park and several hotels in Guangdong.
The future Ocean World, the largest in Asia, will have an ocean circus, night safari, convention centre, hotels and residential buildings, according to Ou Mun Daily.
It will apparently be developed in several phases, with the first one entirely on land.
The park will be built on Zhuhai's Hengqin Island, which Beijing has designated as a base for the diversification of Macau's economy.
Just a few hundred metres from Macau, Hengqin is three times the size of Macau but has fewer than 7,000 residents. The place is well known for oyster breeding.
Oyster restaurants in the neighbourhood of the future Zhuhai Ocean World said the city government had told them to move before the end of this year, to pave way for the theme park's construction.

Wynn Resorts may have soft first quarter

Wynn Resorts Ltd. may have a soft first quarter on weaker-than-expected Encore results and some struggles in Macau, an analyst said yesterday.
Encore, which opened in Las Vegas in December, did push some gamblers into Wynn Las Vegas in January, but there was a significant drop-off in traffic as soon as February, Majestic Research's Matthew Jacob said in a client note.
The new casino's layout may also be turning off some customers.
"We believe, furthermore, that some players prefer Wynn's more traditional casino setup — one large room rather than Encore's more unique chambered setup — and are choosing to gamble at Wynn Las Vegas instead of Encore," Jacob wrote.
Wynn Macau, which debuted in September 2006 and expanded in December 2007, may also be hitting a rough patch. The first quarter marked the property's first year-over-year game usage decline since its expansion, according to the analyst.
Jacob predicts Wynn Resorts will report first-quarter revenue of 692 million US dollars to 773 million US dollars.
Analysts surveyed by Thomson Reuters expect revenue of 752.9 million US dollars.