SJM, which operates 18 of Macau’s 28 casinos, has been trying to list it’s IPO with aims to raise US$1 billion by selling a 25 percent stake. SJM, which once had a monopoly on Macau gambling, accounted for 42 percent of the territory’s gaming revenue at the end of last year. This percentage is expected to drop to around 20 percent next year, apparently during the first two weeks of 2008 SJM’s share has reportedly dropped to 31 percent. On top of this profit for 2007 is expected to have fallen about 50 percent to US$156 million, down from US$312.5 million a year earlier, this surely must hurt them!

So where does this leave Dr Stanley Ho’s empire, well SJM/STDM has plans to over the next three years to spend more than US$1.4 billion on six new projects. This investment compared to what Galaxy, Melco PBL, Las Vegas Sands and Wynn are spending on their casinos is really peanuts! Please tell me more! »

Posted in Macau Business, Macau Casino, STDM | SJM, Stanley Ho No Comments »

Melco PBL continues to lose favour with investors, having lost 50 per cent of its value in the past three months. The slide continued in the US, when the shares fell a further 3.8 per cent to close at $US9.95, slightly above a record low $US9.49 last Tuesday.

The fall has been attributed to various factors including uncertainty surrounding predicted earnings due to a flurry of casino and hotel openings squeezing revenues, a $US400 million ($452 million) shortfall in development funds, and fears of Chinese authorities changing gambling policies arbitrarily, according to the Sydney Morning Herald yesterday. Melco PBL has also delayed the final purchase of the land for the third project on the Macau Peninsula, Trinity, and says it is unlikely to secure the land until the middle of this year.

Please tell me more! »

Posted in City of Dreams, Crown Macau, James Packer, Macau Business, Melco Crown No Comments »

A decision to change where some of Macau’s top junket operators bring their big-spending customers could be troublesome for Las Vegas Sands Corp. and Wynn Resorts Ltd.

Ten Macau gambling representatives signed a new agreement this month to take their high rollers to the Crown Macau, which opened in May. The casino is operated by Melco PBL, a joint venture between Australian tycoon James Packer and Hong Kong businessman Lawrence Ho, son of Macau casino pioneer Stanley Ho.

Please tell me more! »

Posted in Cotai Strip, Crown Macau, Macau Casino, Venetian Macao, Wynn Macau No Comments »

MGM Grand Macau is nearly ready for the 18 December 2007 Grand Opening!

My rough camera video shoot of MGM Grand Macau

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Posted in Arc De Triomph, MGM Grand Macau, Macau Casino, Melco Crown, Trinity Macau, Wynn Macau No Comments »

Shares of Melco PBL Entertainment Ltd. slipped Friday after an agent that planned to steer more business to the casino operator was unable to raise cash to expand its business.A-Max runs a company that packages deals on travel fare and hotel rooms into “junkets,” or paid trips that businesses offer clients. The company has an exclusive deal to offer junkets that send customers to Melco PBL’s Crown Macau casino and was poised to raise $375 million in financing Thursday night, analysts said.

That deal fell through, analysts say. Deutsche Bank analyst Karen Tang in a research report estimated the additional junkets A-Max would bring Melco through the expansion would have added $3 to $4 to Melco’s stock price.

Please tell me more! »

Posted in Macau Business, Melco Crown No Comments »

A strong relationship with the government and a new direction for the Crown Macau is upholding the confidence of Melco PBL Entertainment’s CEO, Lawrence Ho, in the company’s future in Asia’s Las Vegas.

Earlier this month Melco PBL announced a USD142 million loss for the nine months ending September 30. The third quarter saw the company lose USD45.2 million, five times the loss sustained in the same period last year.

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Posted in City of Dreams, Cotai Strip, Crown Macau, Lawrence Ho, Melco Crown, Theatre of Dreams No Comments »

Nine days after registering his presidential exploratory committee last November, Rudolph Giuliani appeared in Singapore to help a Las Vegas developer make a pitch for a $3.5 billion casino resort. Though the bid ultimately failed, and there was nothing illegal about the involvement, it drew Giuliani into a complex partnership with the family of a controversial Hong Kong billionaire who has ties to the regime of North Korea’s Kim Jong Il and has been linked to international organized crime by the U.S. government.

Giuliani’s participation as a security consultant in the Singapore gambling venture illustrates the challenge he faces while attempting to win the Republican presidential nomination with a law-and-order message while maintaining a far-flung, international business portfolio, an unknown portion of which remains in the shadows.

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Posted in James Packer, Lawrence Ho, Macau Casino, Melco Crown, Pansy Ho, Stanley Ho No Comments »

Melco PBL Entertainment (Macau) Limited, a developer and owner of casino gaming and entertainment resort facilities focused exclusively on the Macau market, today reported financial results for the third quarter and nine months ended September 30, 2007. Lawrence Ho, Chief Executive Officer and Co-Chairman of Melco PBL Entertainment, commented, “The third quarter was a transitional period for Crown Macau as the property became fully activated from late July.

Hold adjusted property EBITDA has grown each month during the third quarter, and we are excited by our continued progress in expanding the business. VIP rolling chip volume has shown excellent growth, progressing from US$1.375 billion in July to over US$2.5 billion for the month of October. Based on our estimation for the month of October, Crown Macau’s combined VIP and mass table game market share of the whole market was approximately 8%, continuing the positive growth trend and despite the introduction of a major new entrant into the market.

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Posted in City of Dreams, Crown Macau, James Packer, Lawrence Ho, Macau Casino, Melco Crown, Theatre of Dreams 1 Comment »