So that whole press release from Wynn Macau that strongly implied (if not straight up said) that their Cotai project was moving forward? Yeah, I guess someone forgot to tell the government.
Today in the Macau Daily Times, Secretary for Economy and Finance, Francis Tam Pak Yuen unceremoniously bursts that balloon. His quote?
"Companies may release their news, and the news should correspond to reality. Anyhow these news release won't affect the process"
Despite the fact that local officials seem to be back-pedaling on Wynn's go-go attitude, the piece also goes on to say that it's likely the project will be approved (it was filed before the 2008 cut-off) - it's just a matter of when.
Must be fun doing business in China, huh? If this happened in the US, my guess is that The Steve would be bellowing from the mountaintops about the 'unstable business climate'.
Personally, I can't wait for Cotai construction to start - if it's as magnificent as the principals have been hinting, it will certainly be something to see.