TITLE

DOWNTURN IN FORTUNE

AUTHOR(S)
Streib, Lauren
PUB. DATE
January 2009
SOURCE
Forbes Asia;1/12/2009, Vol. 5 Issue 1, p72
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports on the efforts of Lawrence Ho, chief executive officer at Melco PBL Entertainment Ltd., to address the financial crisis in Macau, China. He plans to slash costs by sending staff on unpaid leave, cutting capital expenditures by $25 million, and taking a 35% pay cut. It reveals that the city's casino industry is expected to shrink by 3% in 2009 due to the country's new travel restrictions on tourists from the mainland, stalled construction projects, and financing woes.
ACCESSION #
36271614

 

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