Melco stock falls on Stanley Ho’s comments
Written on August 15, 2006 by admin
Well it is interesting to note that Las Vegas Sands, Wynn Resorts and PBL stock hardly moved. Stanley Ho has had a good run for many years, so it is good to know that other casinos’ like Sands Macao have found ways to lure the high-rollers away from SJM. Maybe it is because the give fair and honest service to them. Surely SJM will have to fight back and have to come up with some more innovative ways to get their VIP rollers back.
As reported in The Standard - Macau gaming companies such as Melco International Development fell following news reports quoting gaming tycoon Stanley Ho Hung-sun as saying his casino unit is losing revenue due to competition.
Melco, controlled by Lawrence Ho, son of Stanley Ho, fell 50 HK cents, or 2.7 percent, to HK$17.90. Macau Success, a Hong Kong-based company that is building a hotel and casino in Macau, dropped 1 HK cent, or 1.1 percent, to 93 HK cents.
News reports Saturday cited Stanley Ho as saying one-third of his casino unit’s VIP gaming halls face bankruptcy and thousands of jobs are at risk due to cutthroat competition.
Technorati Tags: las vegas sands, sands macau, melco pbl, wynn resorts, wynn macau, stanley ho, sjm, macau, casino
Technorati Tags: Lawrence Ho, macao, macau, Macau Gaming, Melco Crown, sands macao, Stanley Ho
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