Archive for January, 2008

Crown Macau Winning With VIP Junkets Deals

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

SJM Says Grand Lisboa Hotel Will Be Succesful

Ambrose So, managing director of SJM, said that despite the current global financial crises which has forced the suspension of several construction projects in the SAR, he is confident in the success of Grand Lisboa's hotel. Speaking on the sidelines of the seminar on the chances of implementing the opening of the gaming industry, held at

Las Vegas Sands Shares Continue to Drop

Another bad day for Las Vegas Sands (LVS) and gaming shares in general. The stock is down again quite dramatically, off by $3.53, or 3.70%, to $91.84 as another piece of the bull case for the stock is coming undone. It wasn't weak numbers from Macau today, but rather it was a lousy and decidedly

New York Times Interviews Galaxy's Frances Lui

This is an interesting interview listening to a local about the Macau casino business from a Chinese perspective, after all this is their home turf! Q. Naysayers back in the 1990s said the same about Las Vegas — that few would splurge on fancy meals or expensive hotel rooms. But the big casinos in Las Vegas

Macau's Pataca To Remain Pegged to US Dollar

We think this may have a lot to do with the heavy billions of USD casino investments in Macau! Despite rising inflation and a weakening US dollar, the value of the pataca(8 Patacas = 1USD) will continue to remain indirectly tied to the once dominant American currency, the chairman of the Monetary Authority of Macao said