“Gross gaming revenue in Macau for 2011 will be increased by around 20%”

We expect the Galaxy Mega Resort in Cotai to open in May, which should bring in more options to the visitors in their selection of casinos, hotels, restaurants and entertainment. In addition, it is estimated that the Parcel 5 & 6 in the Cotai Strip will open at the end of this year or if not, by early next year.

The current goal of the Macau Government is to stabilize the casino operations with the purpose to maintain an orderly and steady development in the industry.

It is estimated that the gross gaming revenue of 2011 will be increased by around 20%, compared with last year.

For the next three years until 2013, the Macau Government will impose an upper limit of 5,500 on the gaming tables for sustaining a healthy development in the gaming industry. At the same time, the Macau Government will continue to encourage diversification in other economic sectors, such as in MICE and hospitality industry.

To further strengthened our supervision on the gaming industry, on top of the existing gaming laws and regulations, such as the Credit Law, Junket Law and Anti-money laundering Law etc., several new gaming laws will also be launched in not a distant future, which include but not limited to provisions related to slot machine, responsible gaming, self exclusion program and minimum age to be in a casino etc..

As the anti-smoking law is under the drafting stage by the Macau Health Bureau that is still subject to amendment, we are unable to provide further comment on the impact on casinos until the law is being enacted.

The decision to whether other Chinese regions will be allowed to open casino will be subject to the strategic policy of the Central Government of China