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  • July 31, 2014
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  1. Business - Companies - GAMING

    Sands China profit hit by rising costs for Macau casino staff

    Posted Jul 18th 2014, 02:57am by TIFFANY AP

    ... Tiffany Ap tiffany.ap@scmp.com Sands profit hit by rising costs of Macau casino staff Macau casino operator Sands China fell 1.24 per cent after the firm reported second-quarter results ... also declined, with Wynn Macau dropping 2.52 per cent, followed by MGM China falling 2.03 per cent and Galaxy down 1.2 per cent at yesterday's trading close. The Hang Seng Index eased ...

    http://www.scmp.com/business/companies/article/1555920/sands-china-profit-hit-rising-costs-macau-casino-staff
  2. Business - Companies - GAMING

    Weak VIP growth squeezes casino revenues in Macau

    Posted Jul 16th 2014, 01:15am by TIFFANY AP

    ... Tiffany Ap tiffany.ap@scmp.com Analysts downgrade expectations for growth this year, but look to pick-up from new venues Weak VIP growth squeezes Macau casino revenues Fitch Ratings and Barclays cut their estimates for full-year gaming revenue growth in Macau to 10 per cent yesterday due to weakness in the VIP segment of the market. Fitch had previously forecast full-year growth ...

    http://www.scmp.com/business/companies/article/1555035/weak-vip-growth-squeezes-casino-revenues-macau
  3. Business - Companies - MONEY MATTERS

    Odd silence as casino chips fall

    Posted May 02nd 2014, 11:52am by Shirley Yam

    ... fall on rumours of missing billions At the best of times, Macau's gaming stocks are not for the faint-hearted. But even by their standards, what happened last week was frightening. About ... between HK$8 billion and HK$10 billion. The same day, the Macau Daily Times reported that the wife of Cheong Chi-tai, an owner of listed junket company Neptune Group, had been detained by Hong ...

    http://www.scmp.com/business/companies/article/1502397/odd-silence-casino-chips-fall
  4. Business - Companies - GAMING

    Macau under threat as mainland China gamblers cut spending

    Posted Jul 09th 2014, 05:19am by Bloomberg

    ... Bloomberg Gambling hub needs to broaden appeal as mainlanders bet less amid cooling economy and corruption crackdown, says casino boss Macau urged to diversify from gambling roots Macau ... roots. Pansy Ho Chiu-king, co-chairman of MGM China, said the economic slowdown and “the fact that … foreign destinations might become competitors” were the biggest risks to Macau’s growth. ...

    http://www.scmp.com/business/companies/article/1550040/macau-under-threat-mainland-china-gamblers-cut-spending
  5. Business - Money - GAMING

    Macau casinos feel heat of World Cup fever as gamblers bet elsewhere

    Posted Jul 01st 2014, 11:38pm by TIFFANY AP

    ... Tiffany Ap tiffany.ap@scmp.com Macau gaming revenues see first decline in five years as gamblers turn attention to soccer and authorities tighten restrictions on visitors Casinos feel heat of World Cup fever World Cup betting dented Macau's gaming intake last month, with gross revenue dropping 3.7 per cent year on year to 27 billion patacas, the first decline in five years, ...

    http://www.scmp.com/business/money/article/1544523/macau-casinos-feel-heat-world-cup-fever-gamblers-bet-elsewhere
  6. Business

    A bet on Hengqin zone's potential comes with risks

    Posted Jul 28th 2014, 04:26am by Ray Chan

    ... with risks A few minutes by ferry from Macau, the world’s biggest gambling hub, the mainland island of Hengqin is dotted with heavy machinery, trucks, and thousands of construction workers busy ... foreign investment from Macau residents and enterprises given its proximity to the former Portuguese enclave, which is in need of land for economic development. Even the University of Macau ...

    http://www.scmp.com/business/article/1560702/bet-hengqin-zones-potential-comes-risks
  7. Business - Banking & Finance - MACAU

    State-run banks implicated in multibillion-dollar cash-for-gambling racket in Macau

    Posted Jun 04th 2014, 05:08am by Toh Han Shih, Niall Fraser

    ... Toh Han Shih and Niall Fraser Documents detailing how UnionPay is used in Macau casinos to evade currency controls raise questions about the involvement of large banks State-run banks implicated in card racket A multibillion-dollar cash-for-gambling racket in Macau casinos that subverts China's strict currency controls is being run by a sophisticated cross-border syndicate ...

    http://www.scmp.com/business/banking-finance/article/1524883/state-run-banks-implicated-multibillion-dollar-cash
  8. Business - Companies - GAMING

    Tony Fung gambles A$8.5b on Macau-like gambling resort in Cairns

    Posted Jun 06th 2014, 12:38am by BLOOM

    ... Macau in Cairns Cairns was once a stop on the hippy trail and is now a popular destination for backpackers and diving enthusiasts. By 2019, Tony Fung Wing-cheung predicts it will be a gambling destination to rival Macau. The Hong Kong property developer last week won early-stage government backing for his plans to build an A$8.15 billion (HK$58.6 billion) casino resort on a former sugarcane ...

    http://www.scmp.com/business/companies/article/1526213/tony-fung-gambles-a85b-macau-gambling-resort-cairns
  9. Business - Companies - GAMING

    Share prices of Macau casino operators fall after bad month

    Posted Jun 04th 2014, 05:08am by TIFFANY AP

    ... Tiffany Ap tiffany.ap@scmp.com Macau casinos' share prices fall after bad month The month of May was less than merry for Macau as gross gaming revenue reached just 32.4 billion ... dropped 1.42 per cent, Wynn Macau fell 1.24 per cent and MGM ended the month down 0.56 per cent. Analysts said the drop-off was likely because of a slowing VIP gaming segment, but said mass-market ...

    http://www.scmp.com/business/companies/article/1524849/share-prices-macau-casino-operators-fall-after-bad-month
  10. Business - Companies - GAMING

    Galaxy Entertainment earnings surge as Chinese descend on Macau

    Posted May 21st 2014, 01:11am by BLOOM

    ... Bloomberg Galaxy earnings surge as Chinese descend on Macau Galaxy Entertainment Group reported a 38 per cent increase in first-quarter earnings as the Macau casino operator with the most ... for "mass-premium" gamblers after adding shopping centres, cinemas and restaurants at their resorts in Macau's Cotai area, Asia's answer to the Las Vegas Strip. An improved rail connection ...

    http://www.scmp.com/business/companies/article/1516790/galaxy-entertainment-earnings-surge-chinese-descend-macau

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