News

Casinos in Taiwan may generate $3 billion in total annual revenue should the island legislate to legalize the industry, according to Las Vegas-based industry magnate Larry J. Woolf, who manages 13 casinos in North America. / Source: Bloomberg
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Genting Bhd., Asia's largest listed casino operator, rose the most in a month in Kuala Lumpur trading after the company proposed an 807 million ringgit ($239 million) special dividend. / Source: Bloomberg
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Harrah's Entertainment, Inc. said Tuesday it has received approval from the Illinois Gaming Board regarding its proposed $27.8-billion buy-out by affiliates of the private equity firms Apollo Management LP and TPG Capital, formerly Texas Pacific Group. The transaction, announced in December, is scheduled to close late this year or early next year, according to SEC documents. / Source: GlobeSt
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Raptis Group has unveiled plans for a new deluxe hotel to be created in central Surfers Paradise - the Hilton Surfers Paradise Hotel and Residences. The development will house approximately 170 luxury hotel rooms and 340 premier apartments. / Source: Hotel News Resourse
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London and Mumbai tenants paid the most for high-quality offices this year, while Singapore rents grew the fastest as economic growth lured international banks to Asia, said CB Richard Ellis Group Inc., the world's largest commercial real estate broker. / Source: Bloomberg
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Societe Generale SA, France's second- biggest bank by market value, plans to increase its real estate investment in Japan fivefold over the next three years. / Source: Bloomberg
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Bradford & Bingley Plc, the U.K.'s biggest lender to landlords, sold 4.2 billion pounds ($8.7 billion) of home and commercial property loans to improve cash flow as credit costs increase.  / Source: Bloomberg
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OOO Lenta, Russia's third-biggest food retailer, may sell shares next year to fund expansion as sales surge, Chief Executive Officer Sergei Yuschenko said. / Source: Bloomberg
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William Velardo, most recently with the $3-billion Fontainebleau resort project under construction here will head up the multibillion resort project being planned by MGM Mirage and Kerzner International at the north end of the Las Vegas Strip. While few details have been released for the 40-acre development adjacent to MGM’s Circus Circus property, construction is slated to commence in the first half of 2009 and the project is slated to be up and running in the first half of 2012. / Source: GlobeSt
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Oaktree Capital Management LLC and Colonia Real Estate AG bought 12 German offices for 600 million euros ($888 million) to increase their German property holdings. / Source: Bloomberg
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Vastned Retail NV, the Dutch owner of 570 shops across Europe, plans to hold talks with IEF Capital NV about a possible takeover bid. / Source: Bloomberg
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Goodman Group, Australia's biggest industrial real estate investment trust, plans to raise A$400 million ($354 million) by selling hybrid securities to repay debt and fund operations. / Source: Bloomberg
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Through a franchise agreement with Hotels of Ural Ltd., the agreement will involve the conversion of the existing Plaza Olympia hotel to the new Hilton Garden Inn Perm which is scheduled to open in late 2008. / Source: Hotel News Resourse
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British Land Co., the U.K.'s second- largest real estate investment trust, won't follow larger rival Land Securities Group Plc by splitting into smaller units, Chief Executive Officer Stephen Hester said. / Source: Bloomberg
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Banco Santander SA, Spain's biggest bank, sold 10 properties to investment companies controlled by Amancio Ortega, the billionaire owner of clothing retailer Inditex SA, for 458 million euros ($673 million). / Source: Bloomberg
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Land Securities Group Plc, the U.K.'s largest real estate investment trust, plans to split itself in three after a slide in the shares that has cut the company's market value by 3.5 billion pounds ($7.3 billion) this year. / Source: Bloomberg
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SM Prime Holdings Inc., the largest Philippine shopping center operator, agreed to buy the Chinese malls of founder Henry Sy for 10.8 billion pesos ($252 million) of new shares. The stock climbed by the most in a month. / Source: Bloomberg
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Inmobiliaria Colonial SA, Spain's second-largest real estate company, said profit in the first nine months surged on higher rental income and acquisitions. / Source: Bloomberg
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Carlson Hotels Worldwide today announced during the American Hotel & Lodging Association show that the company has added 16 new locations to its portfolio of brands from August through October. / Source: Hotel News Resourse
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Wal-Mart Stores Inc., the world's largest retailer, said quarterly profit rose more than analysts estimated and boosted its full-year earnings forecast after luring customers with holiday discounts. The shares rose the most in more than five years. / Source: Bloomberg
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