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Macao Studio City Looking For Cash (Try the Couch)

I've been pretty skeptical about Macao Studio City's chances for meeting their opening date in 2009. From the slew of photos that readers have sent us, they have little chance of progressing from pilings to phase 1 of the resort in a year or so.

They have been busy updating their website though, so at least they are making virtual progress on the property.

It was announced this week however that eSun Holdings, the folks who own the project, have floated some kooky stock offering whatchamacallit to current investors which they hope will raise HK$1.03B in financing. For those interested in riding the rails of the Hong Kong Stock Exchange, eSun's ticker is HK:571

If any Macau trippers are headed to Cotai anytime soon, please please please snap a coupla photos of the Macao Studio City plot (and everything else :)) so we can share em with the group. I ain't too proud to beg!

Speaking of... Galaxy (HK:27) is now farting around the HK$6 range. Looks like investors are scared of that debt load... better open Galaxy MegaResort pronto gents!

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Comments & Discussion:

Hey, Chuck. Thought you'd like to know that Macau Studio City is now scheduled to open not prior to 2010. This is according to a MelcoPbL investor presentation slide. (You can find this at their website for verification.)

Thanks for the tipoff macauman. The eSun stock float coupled with the sale of the retail to taubman really makes me question if 2010 is even possible. These guys don't have the capital to build or run this thing, nor the infrastructure to hit the ground running as far as a player network or name recognition. They're noobs.

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