China’s anti-corruption campaign hit hard last year: sales of Maotai liquor are down, luxury sales are on the slide, and the number of high-end clubs and restaurants shrank. Everything, it seems – except Macau’s casinos.
With the start of the Year of the Horse, a new influx of mainland gamblers will rush into the former Portuguese colony, now the only legal place to gamble in China. The turnaround from a year ago is remarkable. Read more
By Michael Beer of Citigroup
As Bloomberry Resorts‘ new $700m Solaire Resort and Casino nears completion, Manila Bay will finally showcase its potential within the regional gaming arena. Reflecting the heightened enthusiasm around the project launch as well as continued interest in gaming in east Asia, Bloomberry’s shares have risen over 30 per cent in just the past five months. Read more
When it comes to investing in the Asian consumer, you can always try betting on betting.
MGM China, a joint venture between MGM Resorts International and the daughter of casino mogul Stanley Ho, got a 7 per cent boost in its shares after announcing that it had received approval to build a second resort in Macau. Read more
Is the new leadership in Beijing going to crack down on the billions in illicit funds long believed to be bank-rolling Macau’s spectacular rise as the Las Vegas of the East?
That’s the question investors were asking as they sold down Macau gaming shares on Tuesday, following new reports that a handful of junket operators had been arrested for suspected money laundering. Read more
Galaxy Entertainment Group, which runs one of Macau’s biggest and brashest casino resorts, saw strong demand for its stock when UK private equity firm Permira decided to sell off another big chunk of its holdings on Tuesday.
One big US investor, Waddell & Reed, accounted for the lion’s share of the 7 per cent stake, according to market sources, although the Kansas-based mutual fund company is thought to have bought less than 5 per cent, which means it will not have to declare its stake. Read more
- “I started it”
Environmentalists and nature lovers in Asia, look away now.
Looking at Sheldon Adelson’s projects in Macau’s Cotai Strip, you get the sense that the chairman of Sands China is not in the “green” camp. All the plants in his new, greenhouse-themed Cotai Central resort are plastic, and he just announced a plan to turn an area designated a “tropical garden” on planning maps into a massive shopping mall. Read more
Here we go again. Another sharp sell-off of Macau gaming shares on China slowdown fears. Industry forecasts have always underestimated Chinese high-rollers’ propensity to gamble, so are the latest prediction of gloom to be trusted? Read more
Hengqin Island used to be known for one thing, and one thing only: oysters. But today, its many oyster shacks and fish farms are being demolished to make way for highways and skyscrapers.
The Chinese island located next to the casino town of Macao is being transformed into a special economic zone offering business concessions not found anywhere else in the country. Read more