Entries Categorized as 'Wynn Resorts'
February 13, 2008
Figures due this week are expected to show that Macau is bigger than Las Vegas. The former Portuguese enclave in China raked in US$10.4 billion in gaming winnings in 2007, virtually matching the 2006 take for Clark County, the Nevada jurisdiction that includes Las Vegas and surrounding areas.
If Macau misses in the 2007 data, it’s only a matter of time before it leaves Las Vegas twinkling in its rearview mirror. Macau already far outearns the famous Las Vegas Strip, even though the Strip has a 50% advantage in the number of both visitors and casinos. Minimum bets in the Chinese territory usually set at HK$100 (US$12.85), compared with a less than US$1 in some Vegas locations, allow Macau to take in far more per customer and per table than Las Vegas.
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Posted in Las Vegas Casino, MGM Grand Macau, Venetian Macao, Wynn Macau, Wynn Resorts 
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January 18, 2008
It appears that investors have for the last 3 months have been seriously dumping Macau Casino related stocks, you just have to look at the numbers below to give you some indication. The question remain will they ever recover again to previous highs? It may be a blessing in disguise that Stanley Ho’s IPO has been blocked after all!
Read full story :: Macau Related Casino Stocks Dropping Over 55%
Posted in James Packer, Las Vegas Sands, MGM Mirage, Melco Crown, Sheldon Adelson, Stanley Ho, Wynn Resorts No Comments »
November 25, 2007
He helped Las Vegas shed its image as a sleazy gambling capital and make inroads as a family holiday destination, and his top-notch hotel restaurants have put Sin City on the culinary map.
Now tycoon Steve Wynn has his sights firmly trained on expanding his business in the former Portuguese colony of Macau as he looks to scale the next high point of what has been an already heady career.
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Posted in Cotai Strip, Macau Business, Steve Wynn, Wynn Cotai, Wynn Resorts No Comments »
November 1, 2007
The results from Wynn Resorts’ third quarter were great. Operations in Macau are kicking it up a notch, and the flagship Las Vegas hotel is likewise performing well. Too bad investors were already expecting all that — and more.
The business
Net revenue for the third quarter more than doubled, thanks largely to a full quarter of operations from Wynn Macau. Adjusted property EBITDA (EBITDA adjusted for expenses such as stock-based compensation and pre-opening expenses) grew even faster, and increased as a percentage of revenue from 25.0% to 28.5%.
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Posted in Cotai Strip, Las Vegas Sands, MGM Mirage, Macau Business, Macau Casino, Steve Wynn, Wynn Macau, Wynn Resorts No Comments »
October 31, 2007
Billionaire casino developer Steve Wynn criticized former Chinese leader Mao Zedong, as he told more than a thousand investment advisers at a conference that the communist revolutionary’s Cultural Revolution was “imbecilic” and “almost ruined” the country.
The chief executive of Wynn Resorts spoke during a question & answer session at the Charles Schwab IMPACT 2007 conference.
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Posted in Macau Business, Macau Casino, Steve Wynn, Wynn Macau, Wynn Resorts No Comments »
October 26, 2007
After been in hiding for a while, it looks like Winnie Ho is at it again!
The founder of the Moon Valley Foundation sues STDM again, this time over the transfer of ownership of its bank.
She argued that as more than 70% of the identity of the shareholders have not been verified since the shareholders’ register had been lost in 1993, and therefore should not proceed with any major decisions or transfer of important assets.
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Posted in Macau Business, Macau Casino, STDM | SJM, Stanley Ho, Wynn Resorts No Comments »
October 14, 2007
Galaxy Entertainment Group has sold 20% of its business to the private equity firm Permira for about US$840 million, as it wishes to take a stake in what is now the world’s largest gambling arena.
The equity firm has said it will be paying HK$6.5 billion for a 20 percent stake in Galaxy Casino’s company, which now is building the second largest casino in the world, the GalaxyWorld Resort.
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Posted in Cotai Strip, Galaxy Entertainment, Galaxy Mega Resort, Galaxy Star World, Las Vegas Sands, Macau Business, Macau Casino, Wynn Resorts No Comments »
October 5, 2007
Shares of casino companies with interests in Macau plunged after preliminary data showed growth in Macau gambling revenues were below expectations, analysts said.
Analyst Celeste Mellet Brown said early figures showed September gambling revenue in the southern Chinese gambling enclave grew 55 percent from the previous year, below her forecast for more than 75 percent growth. The official data is due out in about six weeks, Brown, of Morgan Stanley, said.
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Posted in Cotai Strip, Crown Macau, Grand Lisboa, Las Vegas Sands, MGM Grand Macau, Melco Crown, Venetian Macao, Wynn Resorts No Comments »
