2007-10-24 12:35 (New York)
PokerStars.net Asia Pacific Poker Tour Brings Poker to Macau
MACAU, Oct. 24, 2007 (PRIME NEWSWIRE) -- PokerStars(http://www.pokerstars.net/), the world's largest online poker site, today announced the first ever real money No-Limit Texas Hold'em poker tournament to be held in the People's Republic of China. The'PokerStars.net Asia Pacific Poker Tour Macau: Asian Poker Open' $2,500 buy-in Main Event, which is being run in conjunction with the Galaxy Entertainment/Grand Waldo Casino group and First Impression Ltd., takes place from November 22-27 at the Grand Waldo Hotel and Casino on the historic Chinese island of Macau.
The luxurious Grand Waldo Hotel and Casino is one of Macau's newest five-star hotel resorts and will offer APPT players and their friends and families an opportunity to explore one of Asia's most fascinating locations. With its wealth of Chinese temples, Portuguese monuments and beautiful gardens, Macau's historic centre has been designated a World Heritage site.
"The Asia Pacific Poker Tour is honoured to be bringing the sport of tournament poker to Macau," said Jeffrey Haas, president of the APPT."Macau is already the world's gaming capital and this historic event diversifies its global attraction by including the APPT's unique brand of poker tourism. It's a significant step forward, not only for theAPPT, but for the growth of poker in Asia."
Several of the most well-known and celebrated poker players are slated to attend the 'APPT Macau: Asian Poker Open' including the high profileTeam PokerStars ambassadors and several of the world's top online players. In addition to the $2,500 Main Event of the APPT Macau, there will also be a $15,000 High Rollers Event and a selection of smaller satellites and side events available. Players from across the world can qualify for all APPT events free at http://www.pokerstars.net/, with online satellite tournaments running daily.
"Poker is experiencing tremendous growth in Asia and we are very excited to be a part of this growth, particularly as the first casino to host live poker in Macau," said Gary Woollard, general manager of Galaxy Grand Waldo Casino. "We are very honored to work with the PokerStars Asia Pacific Poker Tour and First Impression Ltd. to make this a successful event."
"PokerStars is committed to the growth of poker as an international sport," said Sarne Lightman, director of marketing for PokerStars AsiaPacific. "Through our association with poker events such as the European Poker Tour and the APPT, we are able to offer players a unique chance to play and travel across much of the world. Adding Macau to the APPT schedule is a very exciting step forward. There is global interest in the 'Las Vegas of Asia' and we are very proud we can offer players this amazing experience."
The APPT launched this August in Manila, Philippines, with a second event in Seoul, Korea in September. Season 1 will conclude in Decemberwith the Grand Final in Sydney, Australia. All APPT events are filmed for television with the programs distributed globally. More informationon the APPT can be found at http://www.appt.com/.
About PokerStars:
PokerStars (http://www.pokerstars.com/) is the world's largest and most innovative online poker site with more than eleven million players worldwide. PokerStars was the first site to introduce features that became the industry standard and offers the highest levels of security and customer support in the online poker world. To date, PokerStars has dealt out over twelve billion hands and run more than 50 million poker tournaments, awarding well over $7 billion in prize money. PokerStars is the world's largest poker tournament room running over 50,000 tournaments every day. In February 2006, PokerStars.com entered theGuinness Book of World Records as the first poker website ever to reach the 100,000 simultaneous player mark. The PokerStars Sunday Millionweekly event is the largest weekly tournament on the planet with a $1 million guaranteed tournament prize pool.
PokerStars is the title sponsor of the European Poker Tour(http://www.ept.com/) and the PokerStars Caribbean Adventure. Each fall, PokerStars hosts the world's largest online tournament, the World Championship of Online Poker (WCOOP), which last year featured a record prize pool of over $18 million. PokerStars also sponsors major events around the globe, such as the World Cup of Poker and other exciting tournaments. WSOP Champions Chris Moneymaker, Greg Raymer and Joe Hachem lead Team PokerStars and prove the PokerStars credo as the Place Where Poker Players Become World Champions (tm). For more information, go to http://www.pokerstars.com/.
The PokerStars logo is available athttp://www.primenewswire.com/newsroom/prs/?pkgid=3169
CONTACT:
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Showing posts with label Asia Gaming. Show all posts
Showing posts with label Asia Gaming. Show all posts
Thursday, October 25, 2007
High workloads drive top hotel managers back from Macau
2007-10-23 17:13 (New York)
Poor working conditions and heavy work pressure have encouraged senior Hong Kong hotel management personnel, who were lured to Macau with attractive pay packages at the start of the hotel and casino boom there, to return to the territory.
According to the Federation of Hong Kong Hotel Owners, up to 40 percent of these executives - mostly from four- or five-star hotels who were hired to train hotel employees in the former Portuguese enclave - are now back here. The backflow has put a further strain on Macau's hunt for experienced hotel personnel as the casino boom continues. Most of the executives left Hong Kong hoping to cash in on the boom in Macau, which began shortly after casino magnate Stanley Ho Hung-sun's empire lost its gaming monopoly in 2002 and triggered an invasion by world-renowned casino operators such as Las Vegas Sands, Wynn Resort and Malaysia's Genting Group.
"When the exodus from Hong Kong began around 2004, it was estimated that about 1,000 senior management executives from leading local hotels had left. Now, between 30 and 40 percent of them have returned," federation deputy chairman Clarence Shun Wah said yesterday.
"Despite the attractive salaries offered, many of them found it hard to cope with the extremely heavy workload and some were forced to quit after being on the job for only a few months, while others resigned despite having signed long-term contracts with their employers," he said.
Shun Wah said Macau is now facing an acute shortage of qualified hotel workers to cope with the growing number of hotel rooms available. He said the main grievances of the Hong Kong professionals are that they have to put up with long working hours and extreme work pressure in Macau and, although their salaries are high - usually double that of what they earned in Hong Kong -they have to pay for their own accommodation.
Michael Li Hon-sing, executive director of the federation, said the rate of wastage of hotel workers in Hong Kong has doubled in the past year. According to Shun Wah, the cost of hotel operations has risen by more 5 percent since last year as they fight to retain workers with better pay and work conditions.
Hotel owners said they are highly aware of the threat from Macau, but Hong Kong's quality of services and infrastructure remain far superior to those of Macau.
"Macau hotels are hiring people from everywhere," Shun Wah said. "If you walk into a hotel, you don't know whether you should speak to the workers in Cantonese, English or Mandarin." He said guests were sometimes unable to check in at some of the top hotels after 4 pm because there are just not enough people to make up and clean a room which normally takes about 90 minutes.
Commenting on a proposal by Hong Kong Tourism Board chairman James Tien Pei-chunto conduct courses for hotel professionals in Guangdong for Hong Kong and Macau, the federation said this could be a problem as the demand for qualified hotel personnel in the mainland itself is high.
"Importing mainland talent is also not a simple task," Chan Shuk-fong, federation assistant executive director, said." Our hotels have a lot of quotas left for the Quality Migrant Admission Scheme,"he said. "The screening process is just too tight for them."
Some Hong Kong tertiary institutions, such as the Hong Kong Polytechnic University, offer programs in hotel management, but Chan said they need to be more practical rather than research intensive.
Shun Wah said hotel industry workers need to start with frontline duties and work their way up, but many graduates would prefer to work in the marketing or sales departments, or decline to enter the trade.
Poor working conditions and heavy work pressure have encouraged senior Hong Kong hotel management personnel, who were lured to Macau with attractive pay packages at the start of the hotel and casino boom there, to return to the territory.
According to the Federation of Hong Kong Hotel Owners, up to 40 percent of these executives - mostly from four- or five-star hotels who were hired to train hotel employees in the former Portuguese enclave - are now back here. The backflow has put a further strain on Macau's hunt for experienced hotel personnel as the casino boom continues. Most of the executives left Hong Kong hoping to cash in on the boom in Macau, which began shortly after casino magnate Stanley Ho Hung-sun's empire lost its gaming monopoly in 2002 and triggered an invasion by world-renowned casino operators such as Las Vegas Sands, Wynn Resort and Malaysia's Genting Group.
"When the exodus from Hong Kong began around 2004, it was estimated that about 1,000 senior management executives from leading local hotels had left. Now, between 30 and 40 percent of them have returned," federation deputy chairman Clarence Shun Wah said yesterday.
"Despite the attractive salaries offered, many of them found it hard to cope with the extremely heavy workload and some were forced to quit after being on the job for only a few months, while others resigned despite having signed long-term contracts with their employers," he said.
Shun Wah said Macau is now facing an acute shortage of qualified hotel workers to cope with the growing number of hotel rooms available. He said the main grievances of the Hong Kong professionals are that they have to put up with long working hours and extreme work pressure in Macau and, although their salaries are high - usually double that of what they earned in Hong Kong -they have to pay for their own accommodation.
Michael Li Hon-sing, executive director of the federation, said the rate of wastage of hotel workers in Hong Kong has doubled in the past year. According to Shun Wah, the cost of hotel operations has risen by more 5 percent since last year as they fight to retain workers with better pay and work conditions.
Hotel owners said they are highly aware of the threat from Macau, but Hong Kong's quality of services and infrastructure remain far superior to those of Macau.
"Macau hotels are hiring people from everywhere," Shun Wah said. "If you walk into a hotel, you don't know whether you should speak to the workers in Cantonese, English or Mandarin." He said guests were sometimes unable to check in at some of the top hotels after 4 pm because there are just not enough people to make up and clean a room which normally takes about 90 minutes.
Commenting on a proposal by Hong Kong Tourism Board chairman James Tien Pei-chunto conduct courses for hotel professionals in Guangdong for Hong Kong and Macau, the federation said this could be a problem as the demand for qualified hotel personnel in the mainland itself is high.
"Importing mainland talent is also not a simple task," Chan Shuk-fong, federation assistant executive director, said." Our hotels have a lot of quotas left for the Quality Migrant Admission Scheme,"he said. "The screening process is just too tight for them."
Some Hong Kong tertiary institutions, such as the Hong Kong Polytechnic University, offer programs in hotel management, but Chan said they need to be more practical rather than research intensive.
Shun Wah said hotel industry workers need to start with frontline duties and work their way up, but many graduates would prefer to work in the marketing or sales departments, or decline to enter the trade.
Genting Unit Seeks Record Loan for Singapore Casino (Update 1)
2007-10-23 01:38 (New York)
By Denise Kee
Oct. 23 (Bloomberg) -- Genting International Plc, a unit of Asia's biggest casino operator by market value, is seeking to borrow a record S$3.2 billion ($2.2 billion) to fund a casino resort in Singapore, three people with knowledge of the transaction said.
The overseas unit of Kuala Lumpur-based Genting Bhd. is adding to S$2.17 billion raised in a rights offer in August, andS$450 million of convertible bonds it sold in April to partly fund the resort.
Genting International's loan will push lending to Asia's casino industry to about $9.1 billion, more than double the total for last year, according to data compiled by Bloomberg. Lending to the region's industry is set to grow as countries including Japan consider joining Singapore in lifting bans on casinos.
``There are quite a few countries in Asia where gambling is banned,'' said Harsh Agarwal, a credit analyst with LehmanBrothers Holdings Inc. ``If more countries legalize gambling, we should see an increase in bank lending for casinos.''
Las Vegas Sands Corp., the world's largest casino operator by market value, hired eight banks last month to arrange a loanof about S$5 billion for its Singapore gaming resort.
Genting International's loan will be a record for the Singapore-listed company. The gaming operator has yet to pick arrangers, said the people, who declined to be identified because the information is private.
Tan Hee Teck, chief executive officer of Resorts World at Sentosa Pte, Genting International's S$5.2 billion casino project in Singapore, didn't return calls to his office today.
`History in Casinos'
The regulated gambling market in the Asia-Pacific region is expected to expand 15.7 percent a year to $30.3 billion in 2011, according to PricewaterhouseCoopers LLP. The region will replace Europe, the Middle East and Africa as the second-biggest gaming market after the U.S. by 2011, PricewaterhouseCoopers says.
Genting International will be building the casino on Sentosa island, known for its golf courses and beaches. The resort will include Southeast Asia's first Universal Studios theme park. Singapore's government lifted a four-decade ban on casinos two years ago and issued licenses to GentingInternational and Las Vegas Sands.
The Malaysian company said last year that its planned resort in Singapore could draw 10 million tourists a year by2015.
``Bankers will take a lot of comfort in that Genting does have a history in casinos,'' Hong Kong-based Agarwal said in a phone interview. ``Its Malaysia casino is doing quite well. Theywill also draw comfort in how well Macau is doing and howMalaysia is doing well.''
The parent company of Genting International, runs casino-resorts in Malaysia. Genting International also owns the U.K.'s biggest casino-operator, Stanley Leisure Plc. The Kuala Lumpur-based gaming operator has a credit rating of BBB+ from Standard& Poor's Corp., and Baa1 from Moody's Investors Service, the third-lowest investment grade.
--Editor: Unwin (net/lcc/phl/net/lcc)
To contact the reporter on this story:Denise Kee in Singapore at +65-6212-1514or Dkee2@bloomberg.net
To contact the editor responsible for this story:Netty Ismail in Singapore +65-6212-1106 ornismail3@bloomberg.net.
By Denise Kee
Oct. 23 (Bloomberg) -- Genting International Plc, a unit of Asia's biggest casino operator by market value, is seeking to borrow a record S$3.2 billion ($2.2 billion) to fund a casino resort in Singapore, three people with knowledge of the transaction said.
The overseas unit of Kuala Lumpur-based Genting Bhd. is adding to S$2.17 billion raised in a rights offer in August, andS$450 million of convertible bonds it sold in April to partly fund the resort.
Genting International's loan will push lending to Asia's casino industry to about $9.1 billion, more than double the total for last year, according to data compiled by Bloomberg. Lending to the region's industry is set to grow as countries including Japan consider joining Singapore in lifting bans on casinos.
``There are quite a few countries in Asia where gambling is banned,'' said Harsh Agarwal, a credit analyst with LehmanBrothers Holdings Inc. ``If more countries legalize gambling, we should see an increase in bank lending for casinos.''
Las Vegas Sands Corp., the world's largest casino operator by market value, hired eight banks last month to arrange a loanof about S$5 billion for its Singapore gaming resort.
Genting International's loan will be a record for the Singapore-listed company. The gaming operator has yet to pick arrangers, said the people, who declined to be identified because the information is private.
Tan Hee Teck, chief executive officer of Resorts World at Sentosa Pte, Genting International's S$5.2 billion casino project in Singapore, didn't return calls to his office today.
`History in Casinos'
The regulated gambling market in the Asia-Pacific region is expected to expand 15.7 percent a year to $30.3 billion in 2011, according to PricewaterhouseCoopers LLP. The region will replace Europe, the Middle East and Africa as the second-biggest gaming market after the U.S. by 2011, PricewaterhouseCoopers says.
Genting International will be building the casino on Sentosa island, known for its golf courses and beaches. The resort will include Southeast Asia's first Universal Studios theme park. Singapore's government lifted a four-decade ban on casinos two years ago and issued licenses to GentingInternational and Las Vegas Sands.
The Malaysian company said last year that its planned resort in Singapore could draw 10 million tourists a year by2015.
``Bankers will take a lot of comfort in that Genting does have a history in casinos,'' Hong Kong-based Agarwal said in a phone interview. ``Its Malaysia casino is doing quite well. Theywill also draw comfort in how well Macau is doing and howMalaysia is doing well.''
The parent company of Genting International, runs casino-resorts in Malaysia. Genting International also owns the U.K.'s biggest casino-operator, Stanley Leisure Plc. The Kuala Lumpur-based gaming operator has a credit rating of BBB+ from Standard& Poor's Corp., and Baa1 from Moody's Investors Service, the third-lowest investment grade.
--Editor: Unwin (net/lcc/phl/net/lcc)
To contact the reporter on this story:Denise Kee in Singapore at +65-6212-1514or Dkee2@bloomberg.net
To contact the editor responsible for this story:Netty Ismail in Singapore +65-6212-1106 ornismail3@bloomberg.net.
Tuesday, October 23, 2007
Genting Founder Lim Goh Tong Dies Age 90 After Short Illness
2007-10-23 03:00 (New York)
By Stephanie Phang
Oct. 23 (Bloomberg) -- Lim Goh Tong, who built a hilltop casino in Malaysia and turned it into Asia's biggest publicly traded gaming company, died today. He was 90.
The founder of Kuala Lumpur-based Genting Bhd. and Malaysia's third-richest person, died peacefully after a short illness, his grandson, Justin Leong, said by phone.
Lim, who started out selling vegetable seeds in China, built Malaysia's only licensed casino, risking his life and facing bankruptcy along the way. He created what is now Malaysia's eighth-largest listed company, with interests in gaming, hotels and cruise lines from the U.K. to Hong Kong.
``He's a legend,'' Tan Kai Hee, group managing director atHai-O Enterprise Bhd. and a council member of the Associated Chinese Chambers of Commerce and Industry of Malaysia, said in an interview in February. ``He's an impressive entrepreneur who went through very difficult and challenging times in building his business.''
The tycoon was born in the mountainous Anxi county in China's Fujian province. He was named after the parasol tree, considered auspicious among Chinese, by his maternal grandfather,who hoped the name would bring him good fortune, Lim said in his 2004 autobiography. Forbes in May put his wealth at $4.3 billion.
His father's death forced Lim to leave school and start selling vegetable seeds to support his family at the age of 16. In 1937, he left China for British-controlled Malaya, as the country was then known, where he became a building contractor.
Vegetable Farmer
During the Japanese occupation of Malaya from 1941 to 1945, Lim survived on vegetable farming and petty trading, before switching to dealing in hardware and scrap metal trading, on which he started to build his fortune. Lim, who narrowly escaped being killed by the Japanese during the occupation, said in his biography his brushes with death made him drive himself harder.
After the British returned to Malaya at the end of WorldWar II, Lim benefited from the post-war reconstruction. He bought used machinery tendered after public projects were completed and sold them at higher prices.
Lim, who didn't speak English and had no knowledge of engineering, also ventured into mining and construction. His experience ``and a little layman common sense'' helped him succeed, he wrote in his autobiography.
Enjoying the cool mountain air of a hill station while working on a hydroelectric project in 1963, Lim came up with the idea of building a hilltop resort nearer to Malaysia's capital of Kuala Lumpur. The plan stunned friends and fellow contractors,who warned Lim, then 45 and a successful businessman, against it.
`Against All Odds'
``The Genting project basically fitted my idea of an ideal business,'' Lim wrote. ``No one was interested in it, which meant no competition. I took the plunge against all odds and held on steadfastly.''
He spent seven years developing Genting, laying a road and building a hotel on a 1,800-meter (5,900-foot) hill outside the city. Failing to lure others to join, Lim invested all his money in the project without getting any returns in the seven years it took to build. `
`At one stage, I was teetering on the brink of bankruptcy,'' he wrote.
Lim had support from the government of Malaysia, which gained independence from British rule in 1957. The Malaysian government permitted him to pursue the project and subsidized the road. It also gave Genting a casino license, renewable every quarter, and a six-year tax break for the resort business.
During construction, Lim almost lost his life at least six times from falling trees, driving mishaps and a landslide, according to his autobiography.
`Virgin Jungle'
Genting, which means ``atop the clouds'' in Mandarin, is a complex of hotels, themed casinos, amusement parks, shops and restaurants. The resort attracts more than 18 million visitors a year.
``Besides being a tremendous individual achievement, Lim's success in developing Genting Highlands from virgin jungle into a world-class resort reflects Malaysia's economic progress in the last four decades,'' former Malaysian Prime Minister Mahathir Mohamad said in his foreword to the tycoon's biography.``Even without the advantages of higher education, he has proven that nothing is impossible.''
Lim married Lee Kim Hua in 1944. They had three daughters, three sons and 19 grandchildren, according to his biography. His second son, Lim Kok Thay, is Genting's chief executive officer.
The Genting group now includes Resorts World Bhd., which operates the casino in Malaysia. The group owns casinos in theU.K. and is building Singapore's second casino resort. Genting also has interests in oil palm plantations and power generation.
Kok Thay succeeded his father as president and CEO in 2002, before becoming chairman in December 2003. Genting needed to become a ``global corporation,'' Kok Thay said when he replaced his father as chairman in 2003.
--With reporting by Angus Whitley in Kuala Lumpur. Editor:T.Jordan (lcc)
To contact the reporter on this story:Stephanie Phang in Washington at +60-12-268-5530 or sphang@bloomberg.net
To contact the editor responsible for this story:Tony Jordan at +65-6212-1150 or tjordan3@bloomberg.net.
By Stephanie Phang
Oct. 23 (Bloomberg) -- Lim Goh Tong, who built a hilltop casino in Malaysia and turned it into Asia's biggest publicly traded gaming company, died today. He was 90.
The founder of Kuala Lumpur-based Genting Bhd. and Malaysia's third-richest person, died peacefully after a short illness, his grandson, Justin Leong, said by phone.
Lim, who started out selling vegetable seeds in China, built Malaysia's only licensed casino, risking his life and facing bankruptcy along the way. He created what is now Malaysia's eighth-largest listed company, with interests in gaming, hotels and cruise lines from the U.K. to Hong Kong.
``He's a legend,'' Tan Kai Hee, group managing director atHai-O Enterprise Bhd. and a council member of the Associated Chinese Chambers of Commerce and Industry of Malaysia, said in an interview in February. ``He's an impressive entrepreneur who went through very difficult and challenging times in building his business.''
The tycoon was born in the mountainous Anxi county in China's Fujian province. He was named after the parasol tree, considered auspicious among Chinese, by his maternal grandfather,who hoped the name would bring him good fortune, Lim said in his 2004 autobiography. Forbes in May put his wealth at $4.3 billion.
His father's death forced Lim to leave school and start selling vegetable seeds to support his family at the age of 16. In 1937, he left China for British-controlled Malaya, as the country was then known, where he became a building contractor.
Vegetable Farmer
During the Japanese occupation of Malaya from 1941 to 1945, Lim survived on vegetable farming and petty trading, before switching to dealing in hardware and scrap metal trading, on which he started to build his fortune. Lim, who narrowly escaped being killed by the Japanese during the occupation, said in his biography his brushes with death made him drive himself harder.
After the British returned to Malaya at the end of WorldWar II, Lim benefited from the post-war reconstruction. He bought used machinery tendered after public projects were completed and sold them at higher prices.
Lim, who didn't speak English and had no knowledge of engineering, also ventured into mining and construction. His experience ``and a little layman common sense'' helped him succeed, he wrote in his autobiography.
Enjoying the cool mountain air of a hill station while working on a hydroelectric project in 1963, Lim came up with the idea of building a hilltop resort nearer to Malaysia's capital of Kuala Lumpur. The plan stunned friends and fellow contractors,who warned Lim, then 45 and a successful businessman, against it.
`Against All Odds'
``The Genting project basically fitted my idea of an ideal business,'' Lim wrote. ``No one was interested in it, which meant no competition. I took the plunge against all odds and held on steadfastly.''
He spent seven years developing Genting, laying a road and building a hotel on a 1,800-meter (5,900-foot) hill outside the city. Failing to lure others to join, Lim invested all his money in the project without getting any returns in the seven years it took to build. `
`At one stage, I was teetering on the brink of bankruptcy,'' he wrote.
Lim had support from the government of Malaysia, which gained independence from British rule in 1957. The Malaysian government permitted him to pursue the project and subsidized the road. It also gave Genting a casino license, renewable every quarter, and a six-year tax break for the resort business.
During construction, Lim almost lost his life at least six times from falling trees, driving mishaps and a landslide, according to his autobiography.
`Virgin Jungle'
Genting, which means ``atop the clouds'' in Mandarin, is a complex of hotels, themed casinos, amusement parks, shops and restaurants. The resort attracts more than 18 million visitors a year.
``Besides being a tremendous individual achievement, Lim's success in developing Genting Highlands from virgin jungle into a world-class resort reflects Malaysia's economic progress in the last four decades,'' former Malaysian Prime Minister Mahathir Mohamad said in his foreword to the tycoon's biography.``Even without the advantages of higher education, he has proven that nothing is impossible.''
Lim married Lee Kim Hua in 1944. They had three daughters, three sons and 19 grandchildren, according to his biography. His second son, Lim Kok Thay, is Genting's chief executive officer.
The Genting group now includes Resorts World Bhd., which operates the casino in Malaysia. The group owns casinos in theU.K. and is building Singapore's second casino resort. Genting also has interests in oil palm plantations and power generation.
Kok Thay succeeded his father as president and CEO in 2002, before becoming chairman in December 2003. Genting needed to become a ``global corporation,'' Kok Thay said when he replaced his father as chairman in 2003.
--With reporting by Angus Whitley in Kuala Lumpur. Editor:T.Jordan (lcc)
To contact the reporter on this story:Stephanie Phang in Washington at +60-12-268-5530 or sphang@bloomberg.net
To contact the editor responsible for this story:Tony Jordan at +65-6212-1150 or tjordan3@bloomberg.net.
Macau firm bags pachinko partner
2007-10-21 17:13 (New York)
Gambling business operator Macau Success (0487) plans to step into ventures outside the city after engaging Maruhan Corporation, a Japanese pachinko parlor operator, as a strategic partner in its casino business."We will look at business opportunities in Japan and elsewhere with Maruhan, but our focus will still be Macau," Sonny Yeung Hoi-sing, chairman and controlling shareholder of Macau Success, told The Standard.
Macau Success, operates the casino cruise ship MV Macau Success, which accounted for 90.7 percent of turnover in the six months to March. Kyoto-based Maruhan has agreed to buy an 18.2 percent stake in Macau Success as well as a direct 5 percent interest in the Ponte 16 casino- hotel project, jointly-developed with,and 51 percent-owned by, casino mogul Stanley Ho Hung-sun's Sociedade de Jogosde Macau. The total consideration amounted to HK$796.1 million in cash and loans. Maruhan will have 13 percent interest in Ponte 16."
The cash injection will create synergies for the two companies," Yeung said. "I especially like Maruhan's management ideals."Maruhan is equally confident of Macau Success's capability.
"Las Vegas people do not necessarily know the Chinese mentality well, but I trust Macau Success will make them feel happy," said Han Chang Woo, chairman and chief executive of Maruhan."
We are expanding our entertainment business in Southeast Asian countries such as Cambodia and the Philippines, and [Macau Success] is welcome to join."Macau Success will also consider investing in Zhuhai in ventures such as golf clubs and property together with Maruhan.
Maruhan is one of Japan's largest operators of pachinko parlors, or pin ball machine halls and also runs bowling alleys, golf driving ranges and cinemas.The tie-up with Macau Success is Maruhan's first investment in casino operations, and also marks the first entry by Japanese into Macau's gambling turf. "The relatively small investment is a trial towards further expansion in Macau," Han said.
Yeung said , Ponte 16, situated O Porto Interior (Inner Habour), would draw visitors, as it is surrounded by Wold Heritage sites.The casino is due for completion in December, while the 404-room hotel and shopping center will begin operations in mid-2008. Macau Success closed on Thursday at HK$1.10, down 1.79 percent.
Gambling business operator Macau Success (0487) plans to step into ventures outside the city after engaging Maruhan Corporation, a Japanese pachinko parlor operator, as a strategic partner in its casino business."We will look at business opportunities in Japan and elsewhere with Maruhan, but our focus will still be Macau," Sonny Yeung Hoi-sing, chairman and controlling shareholder of Macau Success, told The Standard.
Macau Success, operates the casino cruise ship MV Macau Success, which accounted for 90.7 percent of turnover in the six months to March. Kyoto-based Maruhan has agreed to buy an 18.2 percent stake in Macau Success as well as a direct 5 percent interest in the Ponte 16 casino- hotel project, jointly-developed with,and 51 percent-owned by, casino mogul Stanley Ho Hung-sun's Sociedade de Jogosde Macau. The total consideration amounted to HK$796.1 million in cash and loans. Maruhan will have 13 percent interest in Ponte 16."
The cash injection will create synergies for the two companies," Yeung said. "I especially like Maruhan's management ideals."Maruhan is equally confident of Macau Success's capability.
"Las Vegas people do not necessarily know the Chinese mentality well, but I trust Macau Success will make them feel happy," said Han Chang Woo, chairman and chief executive of Maruhan."
We are expanding our entertainment business in Southeast Asian countries such as Cambodia and the Philippines, and [Macau Success] is welcome to join."Macau Success will also consider investing in Zhuhai in ventures such as golf clubs and property together with Maruhan.
Maruhan is one of Japan's largest operators of pachinko parlors, or pin ball machine halls and also runs bowling alleys, golf driving ranges and cinemas.The tie-up with Macau Success is Maruhan's first investment in casino operations, and also marks the first entry by Japanese into Macau's gambling turf. "The relatively small investment is a trial towards further expansion in Macau," Han said.
Yeung said , Ponte 16, situated O Porto Interior (Inner Habour), would draw visitors, as it is surrounded by Wold Heritage sites.The casino is due for completion in December, while the 404-room hotel and shopping center will begin operations in mid-2008. Macau Success closed on Thursday at HK$1.10, down 1.79 percent.
Melco, Partners Will Inject Lottery Assets Into Wafer Systems
2007-10-22 00:51 (New York)
By Kelvin Wong
Oct. 22 (Bloomberg) -- Melco International Development Ltd., the investor in Macau casinos and gaming technology, and two partners will inject HK$668 million ($86 million) of lottery assets into Hong Kong's Wafer Systems Ltd.
The group, comprised of Melco, Taiwan-listed Firich Enterprises Co. and Singapore-listed Lott Vision Ltd., will inject its Asian lottery business into Wafer Systems, a Hong Kong-listed company, Melco said in a statement to the city's stock exchange yesterday. Wafer will pay for the assets with new shares and convertible bonds.
After the transaction, the three companies will collectively hold 19.5 percent of Wafer Systems, the statement said. Melco will own 55 percent of that stake, Firich 27 percent and Lott Vision 18 percent, it said.
Wafer Systems, suspended since Oct. 8, soared as much as 39 percent on resuming trade today after announcing the deal, which will give it control of companies that make and sell lottery machines in China, South Korea and India. The stock traded atHK$2, up 21 percent, at the 12:30 p.m. lunch break in Hong Kong.
Melco, controlled by Macau gaming magnate Stanley Ho's son Lawrence Ho, had its biggest drop in more than seven months inHong Kong trading today. The shares fell 7.9 percent to HK$14.26, after falling as much as 9.4 percent earlier.
--Editor: Fellman (frl)
To contact the reporter for this story:Kelvin Wong in Hong Kong at +852-2977-6441 or kwong40@bloomberg.net
To contact the editor responsible for this story:Tom Kohn at +852-2977-6610 or tkohn@bloomberg.net
By Kelvin Wong
Oct. 22 (Bloomberg) -- Melco International Development Ltd., the investor in Macau casinos and gaming technology, and two partners will inject HK$668 million ($86 million) of lottery assets into Hong Kong's Wafer Systems Ltd.
The group, comprised of Melco, Taiwan-listed Firich Enterprises Co. and Singapore-listed Lott Vision Ltd., will inject its Asian lottery business into Wafer Systems, a Hong Kong-listed company, Melco said in a statement to the city's stock exchange yesterday. Wafer will pay for the assets with new shares and convertible bonds.
After the transaction, the three companies will collectively hold 19.5 percent of Wafer Systems, the statement said. Melco will own 55 percent of that stake, Firich 27 percent and Lott Vision 18 percent, it said.
Wafer Systems, suspended since Oct. 8, soared as much as 39 percent on resuming trade today after announcing the deal, which will give it control of companies that make and sell lottery machines in China, South Korea and India. The stock traded atHK$2, up 21 percent, at the 12:30 p.m. lunch break in Hong Kong.
Melco, controlled by Macau gaming magnate Stanley Ho's son Lawrence Ho, had its biggest drop in more than seven months inHong Kong trading today. The shares fell 7.9 percent to HK$14.26, after falling as much as 9.4 percent earlier.
--Editor: Fellman (frl)
To contact the reporter for this story:Kelvin Wong in Hong Kong at +852-2977-6441 or kwong40@bloomberg.net
To contact the editor responsible for this story:Tom Kohn at +852-2977-6610 or tkohn@bloomberg.net
Friday, October 19, 2007
Maruhan buys into Macau Success
Neil Gough
Updated on Oct 19, 2007
VIP gaming hall operator Sonny Yeung Hoi-sing's Macau Success
yesterday said major Japanese pachinko parlour operator Maruhan
Corp would pay HK$796.14 million for a minority stake in the company
and its increasingly expensive Ponte 16 casino hotel project.
Maruhan becomes the first Japanese gaming firm to buy into a Macau
casino and will acquire 18.2 per cent of Macau Success and a direct 5
per cent stake in Ponte 16 which is being developed in partnership with
gaming magnate Stanley Ho Hung-sun's Sociedade de Jogos de Macau
(SJM).
The deal is the second time in the past week that a foreign investor has
bought a stake in a Macau gaming firm. Last week, British private equity
giant Permira Advisers agreed to pay HK$6.5 billion for a 20 per cent
interest in property and construction tycoon Lui Che-woo's Galaxy
Entertainment Group.
Macau Success yesterday announced that the total investment for
Ponte 16, which opens in phases from next month and includes a 404-
room Sofitel hotel, was HK$3.1 billion, a 29 per cent increase over the
previously announced building cost of HK$2.4 billion.
Management said the increase was not the result of construction cost
overruns but due to revised budgeting to include the cost of gaming
equipment, start-up capital and related expenses.
Maruhan is one of Japan's largest pachinko operators, with sales of
HK$120 billion and an operating profit of HK$2 billion in the year to
March. The Kyoto-based firm employs 9,000 people and operates 209
retail outlets across the country with a total of 118,451 pachinko and slot
machines.
Macau Success earlier this month agreed to sell 220 million new shares
or 9.1 per cent of enlarged share capital to the Japanese company at
HK$1.062 per share for a total of HK$233.64 million. Maruhan
subsequently purchased an additional 220 million existing shares or 9.2
per cent of the Macau firm on the open market for HK$1.08 per share, a
total HK$237.6 million.
In addition to buying shares in Macau Success, privately held Maruhan
will pay HK$324.9 million in cash and loans for a direct 5 per cent stake
in the Ponte 16 project. Following the deals, Ponte 16 will be 51 per
cent owned by SJM, with Macau Success' stake reduced to 44 per cent
and Maruhan's at 5 per cent. The Japanese firm's attributable interest in
the project rises to 13 per cent when its 18.2 stake in Macau Success is
factored in.
Mr Yeung's private Success Universe Group retains a 40.8 per cent
stake in Macau Success, with the remaining 41 per cent held by public
and institutional investors.
Macau Success management said the first phase of Ponte 16 would
open next month with 120 mass market gaming tables, 10 high-limit
tables and 340 slot machines in its main casino hall. More than 100 of
the 404 hotel rooms will be ready upon opening, with the rest coming on
stream by the end of the year as fitting-out work is completed.
___________________________________________________________________
Copyright © 2007 South China Morning Post Publishers Ltd. All right reserved
Updated on Oct 19, 2007
VIP gaming hall operator Sonny Yeung Hoi-sing's Macau Success
yesterday said major Japanese pachinko parlour operator Maruhan
Corp would pay HK$796.14 million for a minority stake in the company
and its increasingly expensive Ponte 16 casino hotel project.
Maruhan becomes the first Japanese gaming firm to buy into a Macau
casino and will acquire 18.2 per cent of Macau Success and a direct 5
per cent stake in Ponte 16 which is being developed in partnership with
gaming magnate Stanley Ho Hung-sun's Sociedade de Jogos de Macau
(SJM).
The deal is the second time in the past week that a foreign investor has
bought a stake in a Macau gaming firm. Last week, British private equity
giant Permira Advisers agreed to pay HK$6.5 billion for a 20 per cent
interest in property and construction tycoon Lui Che-woo's Galaxy
Entertainment Group.
Macau Success yesterday announced that the total investment for
Ponte 16, which opens in phases from next month and includes a 404-
room Sofitel hotel, was HK$3.1 billion, a 29 per cent increase over the
previously announced building cost of HK$2.4 billion.
Management said the increase was not the result of construction cost
overruns but due to revised budgeting to include the cost of gaming
equipment, start-up capital and related expenses.
Maruhan is one of Japan's largest pachinko operators, with sales of
HK$120 billion and an operating profit of HK$2 billion in the year to
March. The Kyoto-based firm employs 9,000 people and operates 209
retail outlets across the country with a total of 118,451 pachinko and slot
machines.
Macau Success earlier this month agreed to sell 220 million new shares
or 9.1 per cent of enlarged share capital to the Japanese company at
HK$1.062 per share for a total of HK$233.64 million. Maruhan
subsequently purchased an additional 220 million existing shares or 9.2
per cent of the Macau firm on the open market for HK$1.08 per share, a
total HK$237.6 million.
In addition to buying shares in Macau Success, privately held Maruhan
will pay HK$324.9 million in cash and loans for a direct 5 per cent stake
in the Ponte 16 project. Following the deals, Ponte 16 will be 51 per
cent owned by SJM, with Macau Success' stake reduced to 44 per cent
and Maruhan's at 5 per cent. The Japanese firm's attributable interest in
the project rises to 13 per cent when its 18.2 stake in Macau Success is
factored in.
Mr Yeung's private Success Universe Group retains a 40.8 per cent
stake in Macau Success, with the remaining 41 per cent held by public
and institutional investors.
Macau Success management said the first phase of Ponte 16 would
open next month with 120 mass market gaming tables, 10 high-limit
tables and 340 slot machines in its main casino hall. More than 100 of
the 404 hotel rooms will be ready upon opening, with the rest coming on
stream by the end of the year as fitting-out work is completed.
___________________________________________________________________
Copyright © 2007 South China Morning Post Publishers Ltd. All right reserved
Melco PBL Entertainment Plans to Offer Shares in U.S. (Update 1)
2007-10-18 14:27 (New York)
By Charles W. Stevens
Oct. 18 (Bloomberg) -- Melco PBL Entertainment (Macau)
Ltd., a casino venture between Lawrence Ho and Australian
billionaire James Packer, plans to raise as much as $800 million
in an offering of American depositary shares.
Proceeds from the sale will be used for its Macau Peninsula
project, the Hong Kong-based company said today in a Securities
and Exchange Commission filing.
Each share will represent three ordinary shares and trade
on the Nasdaq Global Market, Melco said.
Melco operates the Crown Macau Hotel Casino.
--Editor: Stevens (cmm)
To contact the reporter on this story:
Charles W. Stevens in New York +1-212-617-2652 or
cstevens@bloomberg.net.
To contact the editor responsible for this story:
Michael Nol at +1-212-617-2384 or mnol@bloomberg.net.
By Charles W. Stevens
Oct. 18 (Bloomberg) -- Melco PBL Entertainment (Macau)
Ltd., a casino venture between Lawrence Ho and Australian
billionaire James Packer, plans to raise as much as $800 million
in an offering of American depositary shares.
Proceeds from the sale will be used for its Macau Peninsula
project, the Hong Kong-based company said today in a Securities
and Exchange Commission filing.
Each share will represent three ordinary shares and trade
on the Nasdaq Global Market, Melco said.
Melco operates the Crown Macau Hotel Casino.
--Editor: Stevens (cmm)
To contact the reporter on this story:
Charles W. Stevens in New York +1-212-617-2652 or
cstevens@bloomberg.net.
To contact the editor responsible for this story:
Michael Nol at +1-212-617-2384 or mnol@bloomberg.net.
Friday, October 12, 2007
Galaxy Announces US$1 Billion Transaction
2007-10-11 08:17 (New York)
Permira Funds to Acquire a 20% Stake in Galaxy For HK$6.5 Billion (US$840 Million)
Leading International Private Equity Firm's First Greater China Investment
Hong Kong, Oct. 11 /Xinhua-PRNewswire/ -- Galaxy Entertainment Group Limited ("Galaxy" or "the Company") (stock code HKSE 0027), a leading operator of casinos, hotels and entertainment facilities in Macau, today announced that funds advised by Permira, one of the world's leading private equity firms, have entered into agreements to acquire an approximate 20% equity stake inGalaxy for a total consideration of HK$6.5 billion (US$840 million), representing HK$8.42 per Galaxy share, subject to certain shareholders'approvals. Galaxy will also raise an additional HK$1.3 billion (US$163 million) through an institutional placement of new shares.
Highlights:
-- Galaxy's vision and strategy to build one of Asia's leading gaming and entertainment groups is clearly endorsed by the Permira Funds' US$840million investment.
-- Permira's international gaming and consumer expertise will be of great value to Galaxy as it continues to develop its position as a leading casino, hotel and entertainment group in Macau, the world's largest and fastest growing gaming market.
-- Founding shareholder, Dr Che-woo Lui and members of the Lui family (and related interests), will retain approximately a 52% controlling interest in Galaxy. -
- Transaction provides the foundations for the future development of phases 2, 3 and 4 of the Cotai Mega Resort, Macau.
-- Transaction substantially strengthens Galaxy's capital structure, resulting in a net cash injection of HK$2.7billion (US$344 million), a reduction in debt of approximately HK$2.6 billion (US$339 million), and a net annual interest benefit of approximately HK$250 million (US$32 million).
-- The Permira Funds will have the right to appoint two non-executive directors to the Galaxy Board; Permira partners Dr. Martin Clarke and Mr. Guido Paolo Gamucci will be appointed to support the growth of the business and the realization of its vision.
With its deep understanding of Asian gaming, Galaxy has become a leader in Macau, and has captured a substantial market share in less than three years.The Company operates a number of highly successful casinos in Macau including its flagship StarWorld, which recently announced record results and accelerating market share in the prized VIP segment, the largest and fastest growing segment in the Macau gaming market. For the half year ended 30 June 2007, Galaxy recorded revenues of HK$6,332 million and an EBITDA of HK$737million, representing year-on-year increases of 385% and 300%, respectively.
Galaxy's rapid and sustained growth in Macau has also been supported by Dr Che-woo Lui and the Lui family's 30 year history in real estate development inGreater China and significant experience of international hotel operation, as well as the Company's proven focus on sound capital management and ROI. On completion, the 2,500 room, suite and villa Cotai Mega Resort in Macau will feature the world's second largest casino. Galaxy also has a further 10 million sq.ft. of approved gross floor area for future expansion in areas 2, 3 and 4 of its Cotai site.
Permira is a leading international private equity firm with a track record of more than twenty years of helping to build outstanding businesses. Over this time, Permira has raised 19 funds totaling approximately EUR22 billion(US$30 billion). This is the Permira Funds' first investment in Greater China, giving them an important stake in Galaxy, a leader in the world's largest gaming market, as well as a strong platform for future growth across Asia.
Galaxy and Permira believe that there are significant benefits to be gained from combining their expertise. The leisure, retail and consumer sectors represent 40% of the investments made by the Permira Funds over the last decade, with portfolio companies including Cortefiel, Ferretti, Hugo Boss, and Valentino. In particular, Permira has deep expertise in the international gaming sector through its investments in Gala Coral, Europe's largest gaming company, and in Sisal, the second largest lotto operator in Italy.
Dr. Che-woo Lui, Chairman of Galaxy, said: "We are delighted that Permirahas chosen to join us in continuing to build Galaxy's future in Macau and Asia. I look forward to welcoming Dr. Martin Clarke and Mr. Guido Paolo Gamucci as non-executive Directors to the Board and to working with them to realize our vision for Galaxy. We believe that this investment not only endorses our strategy but further enables us to deliver on our mission to be one of Asia's leading gaming and entertainment groups, to the benefit of all ourstakeholders."
Dr. Martin Clarke, Partner at Permira, commented: "We have been deeply impressed by the success of Galaxy and the vision of the Lui family and look forward to partnering with one of Asia's leading gaming and entertainment groups. Galaxy has a unique blend of high quality project development and gaming expertise and an unrivalled understanding of the Asian culture and the Chinese market. With the Permira Funds' financial strength and its successful track record of investing in gaming, retail and hospitality businesses we look forward to working with Galaxy, and in the process helping it to realize its clear vision in Asia."
Mr. Francis Lui, Vice Chairman of Galaxy, added: "We are excited to welcome such a prestigious shareholder to Galaxy and delighted to be Permira's first major investment in Greater China. I look forward to working closely with Permira and with Dr. Martin Clarke and Mr. Guido Paolo Gamucci, to leverage the opportunities this transaction brings and to realize our shared vision for Galaxy's exciting developments in Cotai and beyond."
Terms of the transaction
The Permira Funds are acquiring HK$3,800 million worth of existing ordinary Galaxy shares currently held by K. Wah International Holdings Limited, and are subscribing for an additional HK$2,700 million of new ordinary shares in Galaxy. Of the new subscription, approximately HK$1,300 million will be applied to redeem approximately half of the existing Fixed-Rate Notes, with the balance of HK$1,400 million being a cash injection into Galaxy. Separately,the existing noteholders will convert the balance of the Fixed-Rate Notes of approximately HK$1,300 million into approximately 157 million ordinary shares in Galaxy, taking the total debt reduction to HK$2,600 million and cancelling all Fixed-Rate Notes.
Galaxy will also raise a minimum of HK$1.3 billion (US$163 million) through an institutional placement, under the terms of which Merrill Lynch has been mandated to place 150 million new ordinary Galaxy shares, at a minimum share price of HK$8.42.
Following the completion of the transaction, and the share placement:
-- Members of the Lui family will collectively retain a controlling interest in Galaxy of approximately 52%.
-- Galaxy's cash reserves will increase from $6.5 billion to $9.2 billion -- up by 41%
-- Galaxy's total outstanding debt will reduce from $9.2 billion to $6.5 billion -- down by 29%.
The transaction is subject to shareholders' approvals at an Extraordinary General Meeting of Galaxy and a Special General Meeting of K. Wah International Limited, to be held within 21 days of the dispatch of the transaction circulars.
Galaxy and K. Wah Group were advised by Merrill Lynch and Galaxy was also advised by Skadden, Arps, Slate, Meagher and Flom.
Permira was advised by Deutsche Bank, Global Leisure Partners, CliffordChance and Price Waterhouse Coopers.
This announcement should be read in conjunction with the joint Galaxy and K. Wah International Holdings Limited Hong Kong Stock Exchange announcement.
SOURCE Galaxy Entertainment Group Limited
CONTACT:
For Galaxy: Nigel Morrison, Chief Financial Officer, +852-3150- 1111; Diana Footitt, FD, +852-3716-9800, or Diana.Footitt@fd.com; Alastair Hetherington, FD, +852-3716-9800, or Alastair.Hetherington@fd.com;
For Permira: Chris Davison, Director of Communications, +44-207-632-1132; Richard Barton of Gavin Anderson & Company, +852-2523-7189, or barton@gavinanderson.com.hk; Jessie Hsieh of Gavin Anderson & Company, +852-2523-7189, or jhsieh@gavinanderson.com.hk
Oct/11/2007 12:17 GMT
Permira Funds to Acquire a 20% Stake in Galaxy For HK$6.5 Billion (US$840 Million)
Leading International Private Equity Firm's First Greater China Investment
Hong Kong, Oct. 11 /Xinhua-PRNewswire/ -- Galaxy Entertainment Group Limited ("Galaxy" or "the Company") (stock code HKSE 0027), a leading operator of casinos, hotels and entertainment facilities in Macau, today announced that funds advised by Permira, one of the world's leading private equity firms, have entered into agreements to acquire an approximate 20% equity stake inGalaxy for a total consideration of HK$6.5 billion (US$840 million), representing HK$8.42 per Galaxy share, subject to certain shareholders'approvals. Galaxy will also raise an additional HK$1.3 billion (US$163 million) through an institutional placement of new shares.
Highlights:
-- Galaxy's vision and strategy to build one of Asia's leading gaming and entertainment groups is clearly endorsed by the Permira Funds' US$840million investment.
-- Permira's international gaming and consumer expertise will be of great value to Galaxy as it continues to develop its position as a leading casino, hotel and entertainment group in Macau, the world's largest and fastest growing gaming market.
-- Founding shareholder, Dr Che-woo Lui and members of the Lui family (and related interests), will retain approximately a 52% controlling interest in Galaxy. -
- Transaction provides the foundations for the future development of phases 2, 3 and 4 of the Cotai Mega Resort, Macau.
-- Transaction substantially strengthens Galaxy's capital structure, resulting in a net cash injection of HK$2.7billion (US$344 million), a reduction in debt of approximately HK$2.6 billion (US$339 million), and a net annual interest benefit of approximately HK$250 million (US$32 million).
-- The Permira Funds will have the right to appoint two non-executive directors to the Galaxy Board; Permira partners Dr. Martin Clarke and Mr. Guido Paolo Gamucci will be appointed to support the growth of the business and the realization of its vision.
With its deep understanding of Asian gaming, Galaxy has become a leader in Macau, and has captured a substantial market share in less than three years.The Company operates a number of highly successful casinos in Macau including its flagship StarWorld, which recently announced record results and accelerating market share in the prized VIP segment, the largest and fastest growing segment in the Macau gaming market. For the half year ended 30 June 2007, Galaxy recorded revenues of HK$6,332 million and an EBITDA of HK$737million, representing year-on-year increases of 385% and 300%, respectively.
Galaxy's rapid and sustained growth in Macau has also been supported by Dr Che-woo Lui and the Lui family's 30 year history in real estate development inGreater China and significant experience of international hotel operation, as well as the Company's proven focus on sound capital management and ROI. On completion, the 2,500 room, suite and villa Cotai Mega Resort in Macau will feature the world's second largest casino. Galaxy also has a further 10 million sq.ft. of approved gross floor area for future expansion in areas 2, 3 and 4 of its Cotai site.
Permira is a leading international private equity firm with a track record of more than twenty years of helping to build outstanding businesses. Over this time, Permira has raised 19 funds totaling approximately EUR22 billion(US$30 billion). This is the Permira Funds' first investment in Greater China, giving them an important stake in Galaxy, a leader in the world's largest gaming market, as well as a strong platform for future growth across Asia.
Galaxy and Permira believe that there are significant benefits to be gained from combining their expertise. The leisure, retail and consumer sectors represent 40% of the investments made by the Permira Funds over the last decade, with portfolio companies including Cortefiel, Ferretti, Hugo Boss, and Valentino. In particular, Permira has deep expertise in the international gaming sector through its investments in Gala Coral, Europe's largest gaming company, and in Sisal, the second largest lotto operator in Italy.
Dr. Che-woo Lui, Chairman of Galaxy, said: "We are delighted that Permirahas chosen to join us in continuing to build Galaxy's future in Macau and Asia. I look forward to welcoming Dr. Martin Clarke and Mr. Guido Paolo Gamucci as non-executive Directors to the Board and to working with them to realize our vision for Galaxy. We believe that this investment not only endorses our strategy but further enables us to deliver on our mission to be one of Asia's leading gaming and entertainment groups, to the benefit of all ourstakeholders."
Dr. Martin Clarke, Partner at Permira, commented: "We have been deeply impressed by the success of Galaxy and the vision of the Lui family and look forward to partnering with one of Asia's leading gaming and entertainment groups. Galaxy has a unique blend of high quality project development and gaming expertise and an unrivalled understanding of the Asian culture and the Chinese market. With the Permira Funds' financial strength and its successful track record of investing in gaming, retail and hospitality businesses we look forward to working with Galaxy, and in the process helping it to realize its clear vision in Asia."
Mr. Francis Lui, Vice Chairman of Galaxy, added: "We are excited to welcome such a prestigious shareholder to Galaxy and delighted to be Permira's first major investment in Greater China. I look forward to working closely with Permira and with Dr. Martin Clarke and Mr. Guido Paolo Gamucci, to leverage the opportunities this transaction brings and to realize our shared vision for Galaxy's exciting developments in Cotai and beyond."
Terms of the transaction
The Permira Funds are acquiring HK$3,800 million worth of existing ordinary Galaxy shares currently held by K. Wah International Holdings Limited, and are subscribing for an additional HK$2,700 million of new ordinary shares in Galaxy. Of the new subscription, approximately HK$1,300 million will be applied to redeem approximately half of the existing Fixed-Rate Notes, with the balance of HK$1,400 million being a cash injection into Galaxy. Separately,the existing noteholders will convert the balance of the Fixed-Rate Notes of approximately HK$1,300 million into approximately 157 million ordinary shares in Galaxy, taking the total debt reduction to HK$2,600 million and cancelling all Fixed-Rate Notes.
Galaxy will also raise a minimum of HK$1.3 billion (US$163 million) through an institutional placement, under the terms of which Merrill Lynch has been mandated to place 150 million new ordinary Galaxy shares, at a minimum share price of HK$8.42.
Following the completion of the transaction, and the share placement:
-- Members of the Lui family will collectively retain a controlling interest in Galaxy of approximately 52%.
-- Galaxy's cash reserves will increase from $6.5 billion to $9.2 billion -- up by 41%
-- Galaxy's total outstanding debt will reduce from $9.2 billion to $6.5 billion -- down by 29%.
The transaction is subject to shareholders' approvals at an Extraordinary General Meeting of Galaxy and a Special General Meeting of K. Wah International Limited, to be held within 21 days of the dispatch of the transaction circulars.
Galaxy and K. Wah Group were advised by Merrill Lynch and Galaxy was also advised by Skadden, Arps, Slate, Meagher and Flom.
Permira was advised by Deutsche Bank, Global Leisure Partners, CliffordChance and Price Waterhouse Coopers.
This announcement should be read in conjunction with the joint Galaxy and K. Wah International Holdings Limited Hong Kong Stock Exchange announcement.
SOURCE Galaxy Entertainment Group Limited
CONTACT:
For Galaxy: Nigel Morrison, Chief Financial Officer, +852-3150- 1111; Diana Footitt, FD, +852-3716-9800, or Diana.Footitt@fd.com; Alastair Hetherington, FD, +852-3716-9800, or Alastair.Hetherington@fd.com;
For Permira: Chris Davison, Director of Communications, +44-207-632-1132; Richard Barton of Gavin Anderson & Company, +852-2523-7189, or barton@gavinanderson.com.hk; Jessie Hsieh of Gavin Anderson & Company, +852-2523-7189, or jhsieh@gavinanderson.com.hk
Oct/11/2007 12:17 GMT
MGM Mirage to Build $5 Billion Atlantic City Casino
2007-10-10 19:10 (New York)
By James Temple
Oct. 10 (Bloomberg) -- MGM Mirage, the world's second-largest casino company, plans to spend as much as $5 billion on a new resort in Atlantic City, New Jersey, a bet some supporters believe will help stem the city's declining gambling revenue.
The 3,000-room MGM Grand Atlantic City hotel and casino will be adjacent to the Borgata Hotel Casino & Spa, the company said today. The facility, which may open in 2012, is the latest in a line of proposed Atlantic City casinos.
Revel Entertainment Group LLC said last month that it filed plans to build a $2 billion, 3,800-room resort. Pinnacle Entertainment Inc. said last year that it would build a $1.8billion casino on the site of the Sands. The Borgata, a similar development half-owned by MGM, opened in 2003.
``We think the success at Borgata demonstrates that there is a demand for this type of product in Atlantic City,'' spokesman Gordon Absher said.
The new projects, which include theaters, dining, spas and other non-casino entertainment, will help Atlantic City compete more effectively against the gambling offerings of nearby cities, said Joseph Corbo, president of the Casino Association of New Jersey.
``We're seeing the transformation of Atlantic City, already in progress, from a day trip market to more of a destination resort market'' akin to Las Vegas, Nevada, Corbo said.
New Jersey Investment
MGM is boosting its New Jersey investment even as spending in Atlantic City sinks amid increasing regional competition, principally from combined horse racing and slot machine operations in Yonkers, New York, and Philadelphia. Gambling revenue in the city declined 11 percent in September, according to the New Jersey Casino Control Commission.
MGM, which is majority-owned by billionaire Kirk Kerkorian, posted record profit of $360 million in the second quarter, buoyed by higher spending at its Las Vegas resorts. MGM said its $5 billion Atlantic City budget doesn't include the cost ofacquiring the site.
The company's shares declined $1, or 1 percent, to $98.75at 4:26 p.m. in New York Stock Exchange composite trading.
Harrah's Entertainment Inc. is the world's biggest casino company.
--Editor: Skillman (mno/tlb/ecw/scc/ecw)
To contact the reporter on this story:James Temple in San Francisco at +1-415-743-3588 orjtemple@bloomberg.net
To contact the editor responsible for this story:Michael Nol at 212-617-2384 or mnol@bloomberg.net.
By James Temple
Oct. 10 (Bloomberg) -- MGM Mirage, the world's second-largest casino company, plans to spend as much as $5 billion on a new resort in Atlantic City, New Jersey, a bet some supporters believe will help stem the city's declining gambling revenue.
The 3,000-room MGM Grand Atlantic City hotel and casino will be adjacent to the Borgata Hotel Casino & Spa, the company said today. The facility, which may open in 2012, is the latest in a line of proposed Atlantic City casinos.
Revel Entertainment Group LLC said last month that it filed plans to build a $2 billion, 3,800-room resort. Pinnacle Entertainment Inc. said last year that it would build a $1.8billion casino on the site of the Sands. The Borgata, a similar development half-owned by MGM, opened in 2003.
``We think the success at Borgata demonstrates that there is a demand for this type of product in Atlantic City,'' spokesman Gordon Absher said.
The new projects, which include theaters, dining, spas and other non-casino entertainment, will help Atlantic City compete more effectively against the gambling offerings of nearby cities, said Joseph Corbo, president of the Casino Association of New Jersey.
``We're seeing the transformation of Atlantic City, already in progress, from a day trip market to more of a destination resort market'' akin to Las Vegas, Nevada, Corbo said.
New Jersey Investment
MGM is boosting its New Jersey investment even as spending in Atlantic City sinks amid increasing regional competition, principally from combined horse racing and slot machine operations in Yonkers, New York, and Philadelphia. Gambling revenue in the city declined 11 percent in September, according to the New Jersey Casino Control Commission.
MGM, which is majority-owned by billionaire Kirk Kerkorian, posted record profit of $360 million in the second quarter, buoyed by higher spending at its Las Vegas resorts. MGM said its $5 billion Atlantic City budget doesn't include the cost ofacquiring the site.
The company's shares declined $1, or 1 percent, to $98.75at 4:26 p.m. in New York Stock Exchange composite trading.
Harrah's Entertainment Inc. is the world's biggest casino company.
--Editor: Skillman (mno/tlb/ecw/scc/ecw)
To contact the reporter on this story:James Temple in San Francisco at +1-415-743-3588 orjtemple@bloomberg.net
To contact the editor responsible for this story:Michael Nol at 212-617-2384 or mnol@bloomberg.net.
Wednesday, October 10, 2007
Gaming Standards Association and Macao Polytechnic Institute
2007-10-09 13:06 (New York)
Create Partnership for GSA Standards/Knowledge Exchange in China
GSA Also Welcomes MPI as an Associate Member
LAS VEGAS, Oct. 8 /PRNewswire/ -- Further establishing the global reach of its standards, the Gaming Standards Association has signed a memo of understanding with the Macao Polytechnic Institute. The MOU expresses GSA'sand MPI's mutual commitment in providing education related to the very latest gaming technology and open communication standards.
Signing the MOU were MPI President Lei Heong Lok and GSA President Peter DeRaedt.
Under terms of the agreement, MPI will act as GSA's office in Asia, establishing a location for GSA on the continent. Additionally, GSA will support MPI in an effort to spread the technical knowledge of GSA's gaming protocol standards to students in Macao and other parts of Asia through MPI.
DeRaedt said, "This is a major step forward for GSA. The industry is keenly aware of the expansion of gaming in Macao and the future development that is to come to Asia. We are very pleased to be at the forefront of that growth, laying the groundwork for what will be an intense adoption and implementation of GSA standards."
Professor Lei said, "The partnership between MPI and GSA which aims at fostering the adoption and implementation of open industrial standards inMacao will certainly create benefits for manufacturers, operators and other stakeholders in the gaming industry. Fulfilling the promise of seamless communication and interoperability, robust and long-lasting open standards can be a solution for greater revenue and decreased costs."
As an initial step, MPI will send a six-member delegation to meet with GSA during the upcoming Global Gaming Expo in Las Vegas this November. The research group, deemed the "Feasibility Study for Setting up a Slot Certification Centre in Macao," will include Professor Chen Qingyun, Deputy Director, Economic and Public Policy Research Centre; Professor Zeng Zhonglu, Researcher, Economic and Public Policy Research Centre; Mr. Siu Ka Meng,Andrew, Chairman, MPI-Melco Gaming and Entertainment Information Technology Research and Development Center; Dr. Lai Tze Meng, Terence, Director, MPI-Melco Gaming and Entertainment, Information Technology Research andDevelopment Center; Dr. Im Sio Kei, Marcus, Head, Division for PedagogicalAffairs; and Mr. Chan Fai Man, Jose, Student Affairs and Career Counseling Office, Macao Tourism and Casino Career Center.
MPI was established in 1991 as a public and forward-looking institute and was formerly a part of the University of East Asia, Macau. In the 10 years since its inception, the Institute grew into a modern and fully equipped teaching and research facility with a team of experienced and dedicated academic staff.
About the Gaming Standards Association (GSA):
The Gaming Standards Association (GSA) is an international trade association that creates benefits for gaming manufacturers, suppliers, operators and regulators. We facilitate the identification, definition, development, promotion, and implementation of open standards to enable innovation, education, and communication for the benefit of the entire industry. Since its incorporation on May 6, 1998, GSA has members representing a wide cross section of the global gaming industry.
GSA's new Game-to-System (G2S) Protocol has been named "BestProductivity-Enhancement Technology" by Global Gaming Business Magazine, one of the "Top Three International Gaming Products" by IGWB Magazine; one ofCasino Journal magazine's "Top 3 Most Innovative Products"; and one of Casino Enterprise Management's "Top 10 Slot Floor Technologies."
Platinum members include Aristocrat Technologies Inc.; Atronic AmericasLLC; Bally Technologies, Inc. (BYI); E-Genting Holdings Sdn Bhd; FutureLogic,Inc; Harrah's Entertainment (HET); International Game Technology (IGT); KonamiGaming Inc.; MEI; MGM MIRAGE (MGM); Progressive Gaming InternationalCorporation (PGIC); Seminole Tribe of Florida; and WMS Gaming Inc. (WMS).
Other members include: 3M Touch Systems (MMM); Ainsworth Game Technology,Ltd.; AGMMA - Australasian Gaming Machine Manufacturers Association; Alliance Gaming Services; American Gaming Systems; Ameristar Casinos, Inc.; Aruze Gaming America, Inc.; Austrian Gaming Industries GmbH; Belatra Co., Ltd.; BMM North America; Bounty Limited; British Columbia Lottery Corporation; CashCodeCompany Inc.; Casino Technology; Cyberview Technology (CYBS); DigiDeal Corp.;Digital Dynamics Software, Inc.; DigiTech Systems Co., Ltd.; Elixir Group,Ltd.; Foxwoods Resort Casino; GameLogic, Inc.; GameTech International; GamingConsultants International; Gaming Laboratories International, Inc; Giesecke &Devrient; GGS-US LTD; Global Cash Access, Inc.; Global Payment TechnologiesInc. (GPTX); GTECH Corporation; Hotel Technology Next Generation; IncredibleTechnologies, Inc.; Inspired Gaming Group plc (INGG); Intralot S.A.; Jofemar,S.A.; Las Vegas Gaming, Inc.; Macao Polytechnic Institute; Money Controls;MotorCity Casino; Multi-State Lottery Association; Multimedia Games, Inc.(MGAM); Nick Farley & Associates; Nidec Sankyo Corporation; NRT TechnologyCorporation; Ontario Lottery & Gaming Corporation; Penn National Gaming, Inc.;PokerTek, Inc.; R. Franco USA; Rocket Gaming Systems; Scientific Games (SGMS); Shuffle Master, Inc.(SHFL); Station Casinos, Inc.; Tabcorp Holdings Limited;Transact Technologies (TACT); Unidesa Gaming & Systems; UNLV InternationalGaming Institute; Video Gaming Technologies, Inc; Viejas Casino and WesternMoney Systems.
For more information, visit http://www.gamingstandards.com/.
SOURCE Gaming Standards Association
CONTACT:Peter DeRaedt, President of Gaming Standards Association, +1-775-829-2336, pres@gamingstandards.com; or Paul Speirs, President of Steinbeck Communications, +1-702-413-4278, paulspeirs@cox.net, for Gaming Standards Association
Oct/09/2007 17:06 GMT
Create Partnership for GSA Standards/Knowledge Exchange in China
GSA Also Welcomes MPI as an Associate Member
LAS VEGAS, Oct. 8 /PRNewswire/ -- Further establishing the global reach of its standards, the Gaming Standards Association has signed a memo of understanding with the Macao Polytechnic Institute. The MOU expresses GSA'sand MPI's mutual commitment in providing education related to the very latest gaming technology and open communication standards.
Signing the MOU were MPI President Lei Heong Lok and GSA President Peter DeRaedt.
Under terms of the agreement, MPI will act as GSA's office in Asia, establishing a location for GSA on the continent. Additionally, GSA will support MPI in an effort to spread the technical knowledge of GSA's gaming protocol standards to students in Macao and other parts of Asia through MPI.
DeRaedt said, "This is a major step forward for GSA. The industry is keenly aware of the expansion of gaming in Macao and the future development that is to come to Asia. We are very pleased to be at the forefront of that growth, laying the groundwork for what will be an intense adoption and implementation of GSA standards."
Professor Lei said, "The partnership between MPI and GSA which aims at fostering the adoption and implementation of open industrial standards inMacao will certainly create benefits for manufacturers, operators and other stakeholders in the gaming industry. Fulfilling the promise of seamless communication and interoperability, robust and long-lasting open standards can be a solution for greater revenue and decreased costs."
As an initial step, MPI will send a six-member delegation to meet with GSA during the upcoming Global Gaming Expo in Las Vegas this November. The research group, deemed the "Feasibility Study for Setting up a Slot Certification Centre in Macao," will include Professor Chen Qingyun, Deputy Director, Economic and Public Policy Research Centre; Professor Zeng Zhonglu, Researcher, Economic and Public Policy Research Centre; Mr. Siu Ka Meng,Andrew, Chairman, MPI-Melco Gaming and Entertainment Information Technology Research and Development Center; Dr. Lai Tze Meng, Terence, Director, MPI-Melco Gaming and Entertainment, Information Technology Research andDevelopment Center; Dr. Im Sio Kei, Marcus, Head, Division for PedagogicalAffairs; and Mr. Chan Fai Man, Jose, Student Affairs and Career Counseling Office, Macao Tourism and Casino Career Center.
MPI was established in 1991 as a public and forward-looking institute and was formerly a part of the University of East Asia, Macau. In the 10 years since its inception, the Institute grew into a modern and fully equipped teaching and research facility with a team of experienced and dedicated academic staff.
About the Gaming Standards Association (GSA):
The Gaming Standards Association (GSA) is an international trade association that creates benefits for gaming manufacturers, suppliers, operators and regulators. We facilitate the identification, definition, development, promotion, and implementation of open standards to enable innovation, education, and communication for the benefit of the entire industry. Since its incorporation on May 6, 1998, GSA has members representing a wide cross section of the global gaming industry.
GSA's new Game-to-System (G2S) Protocol has been named "BestProductivity-Enhancement Technology" by Global Gaming Business Magazine, one of the "Top Three International Gaming Products" by IGWB Magazine; one ofCasino Journal magazine's "Top 3 Most Innovative Products"; and one of Casino Enterprise Management's "Top 10 Slot Floor Technologies."
Platinum members include Aristocrat Technologies Inc.; Atronic AmericasLLC; Bally Technologies, Inc. (BYI); E-Genting Holdings Sdn Bhd; FutureLogic,Inc; Harrah's Entertainment (HET); International Game Technology (IGT); KonamiGaming Inc.; MEI; MGM MIRAGE (MGM); Progressive Gaming InternationalCorporation (PGIC); Seminole Tribe of Florida; and WMS Gaming Inc. (WMS).
Other members include: 3M Touch Systems (MMM); Ainsworth Game Technology,Ltd.; AGMMA - Australasian Gaming Machine Manufacturers Association; Alliance Gaming Services; American Gaming Systems; Ameristar Casinos, Inc.; Aruze Gaming America, Inc.; Austrian Gaming Industries GmbH; Belatra Co., Ltd.; BMM North America; Bounty Limited; British Columbia Lottery Corporation; CashCodeCompany Inc.; Casino Technology; Cyberview Technology (CYBS); DigiDeal Corp.;Digital Dynamics Software, Inc.; DigiTech Systems Co., Ltd.; Elixir Group,Ltd.; Foxwoods Resort Casino; GameLogic, Inc.; GameTech International; GamingConsultants International; Gaming Laboratories International, Inc; Giesecke &Devrient; GGS-US LTD; Global Cash Access, Inc.; Global Payment TechnologiesInc. (GPTX); GTECH Corporation; Hotel Technology Next Generation; IncredibleTechnologies, Inc.; Inspired Gaming Group plc (INGG); Intralot S.A.; Jofemar,S.A.; Las Vegas Gaming, Inc.; Macao Polytechnic Institute; Money Controls;MotorCity Casino; Multi-State Lottery Association; Multimedia Games, Inc.(MGAM); Nick Farley & Associates; Nidec Sankyo Corporation; NRT TechnologyCorporation; Ontario Lottery & Gaming Corporation; Penn National Gaming, Inc.;PokerTek, Inc.; R. Franco USA; Rocket Gaming Systems; Scientific Games (SGMS); Shuffle Master, Inc.(SHFL); Station Casinos, Inc.; Tabcorp Holdings Limited;Transact Technologies (TACT); Unidesa Gaming & Systems; UNLV InternationalGaming Institute; Video Gaming Technologies, Inc; Viejas Casino and WesternMoney Systems.
For more information, visit http://www.gamingstandards.com/.
SOURCE Gaming Standards Association
CONTACT:Peter DeRaedt, President of Gaming Standards Association, +1-775-829-2336, pres@gamingstandards.com; or Paul Speirs, President of Steinbeck Communications, +1-702-413-4278, paulspeirs@cox.net, for Gaming Standards Association
Oct/09/2007 17:06 GMT
Reality Bites Resorts World at Sentosa
By ARTHUR SIM
Business Times - 10 Oct 2007
MARK Burnett - creator of reality TV shows like Survivor and The Apprentice - has tied up
with Genting International to produce TV and game shows for the region.
Speaking at a tele-conference yesterday, US- based Mr Burnett, president and founder of Mark Burnett Productions, said that filming for the first show could begin as early as next year.
Based at Resorts World at Sentosa, the firm will use the resort's attractions and facilities for
some of its productions.
A joint-venture company called Mark Burnett Productions Asia (MBPA) will be formed,
with the two partners holding equal equity and investing up to US$20 million together.
The two partners were brought together in June by the Singapore Economic Development
Board (EDB).
Manohar Khiatani, assistant managing director of EDB, said: 'This decision underscores the
attractiveness of Singapore as a location where leading media content owners create and
manage their intellectual property assets.'
He said MBPA would reinforce the government's efforts to build Singapore into an
international media hub.
Mark Burnett International and Genting International will team up on a 10-year exclusive
partnership to develop, produce and distribute reality TV series and game shows for the
region. The partnership covers all of Asia except Japan and the Middle East.
Mr Burnett said: 'We've been doing business in and around Asia since our company was
founded and we've been looking at ways to do more in this massive market.'
Besides producing TV for Asia, MBPA will hold an exclusive licence to produce and
distribute these programmes to multiple media platforms that range from broadcast, the
Internet and mobile television.
The company will also develop original TV shows for Asia that will be licensed for format
productions worldwide.
Mark Burnett Productions has already made forays into other markets. Scot Cru, executive
(international), Mark Burnett Productions, said: 'Having recently launched Mark Burnett
Productions France, this is a natural evolution of our worldwide brand.'
He added: 'The fact that this deal was fast-tracked and took a very short time to negotiate is
evidence of both companies' recognition that it is a partnership that both companies felt was a
no-brainer.'
Copyright © 2007 Singapore Press Holdings Ltd. All rights reserved.
Business Times - 10 Oct 2007
MARK Burnett - creator of reality TV shows like Survivor and The Apprentice - has tied up
with Genting International to produce TV and game shows for the region.
Speaking at a tele-conference yesterday, US- based Mr Burnett, president and founder of Mark Burnett Productions, said that filming for the first show could begin as early as next year.
Based at Resorts World at Sentosa, the firm will use the resort's attractions and facilities for
some of its productions.
A joint-venture company called Mark Burnett Productions Asia (MBPA) will be formed,
with the two partners holding equal equity and investing up to US$20 million together.
The two partners were brought together in June by the Singapore Economic Development
Board (EDB).
Manohar Khiatani, assistant managing director of EDB, said: 'This decision underscores the
attractiveness of Singapore as a location where leading media content owners create and
manage their intellectual property assets.'
He said MBPA would reinforce the government's efforts to build Singapore into an
international media hub.
Mark Burnett International and Genting International will team up on a 10-year exclusive
partnership to develop, produce and distribute reality TV series and game shows for the
region. The partnership covers all of Asia except Japan and the Middle East.
Mr Burnett said: 'We've been doing business in and around Asia since our company was
founded and we've been looking at ways to do more in this massive market.'
Besides producing TV for Asia, MBPA will hold an exclusive licence to produce and
distribute these programmes to multiple media platforms that range from broadcast, the
Internet and mobile television.
The company will also develop original TV shows for Asia that will be licensed for format
productions worldwide.
Mark Burnett Productions has already made forays into other markets. Scot Cru, executive
(international), Mark Burnett Productions, said: 'Having recently launched Mark Burnett
Productions France, this is a natural evolution of our worldwide brand.'
He added: 'The fact that this deal was fast-tracked and took a very short time to negotiate is
evidence of both companies' recognition that it is a partnership that both companies felt was a
no-brainer.'
Copyright © 2007 Singapore Press Holdings Ltd. All rights reserved.
Tuesday, October 9, 2007
Casinos in Macau
Casino Ownership Commencement of Operations Website
1 Lisboa SJM 1970 http://www.hotelisboa.com/
2 Grand Lisboa SJM 2007
3 Kam Pek SJM http://www.hotelisboa.com/
4 Fortuna SJM 2005 http://www.hotelfortuna.com.mo/
5 Diamante SJM http://www.macau.holiday-inn.com/
6 Club VIP Legend SJM http://www.landmarkhotel.com.mo/
7 Kingsway SJM http://www.kingsway.com.mo/
8 Golden Dragon SJM http://www.goldendragon.com.mo/
9 Casa Real SJM http://www.casarealhotel.com.mo/
10 Jai Alai SJM
11 Macau Palace SJM
12 Oriental SJM www.mandarinoriental.com/macau
13 Emperor Palace SJM 2006 http://www.emperor.com.hk/
14 Babylon SJM 2006 http://www.fishermanswharf.com.mo/
15 Marina SJM http://www.pousadamarinainfante.com/
16 MJC (Macau Jockey Club) SJM 2005 http://www.grandview-hotel.com/
17 Taipa SJM http://www.macau.hyatt.com/
18 New Century SJM 2004 http://www.newcenturyhotel-macau.com/
19 Waldo Galaxy 2004 http://www.galaxyentertainment.com/
20 Grand Waldo Galaxy 2006 http://www.galaxyentertainment.com/
21 Rio Galaxy 2006 http://www.riomacau.com/
22 StarWorld Galaxy 2006 http://www.starworldmacau.com/
23 President Galaxy 2006
24 Wynn Macau Wynn 2006 http://www.wynnmacau.com/
25 Sands Macau LVS 2004 http://www.sands.com.mo/
26 Crown Macau Melco 2007 http://www.crown-macau.com/
27 Venetian Macau LVS 2007 http://www.venetianmacau.com/
28 Ponte 16 MGM / Pansy Ho 2007 http://www.melco.hk.cn/
29 MGM Grand Paradise MGM Mirage 2007 http://www.mgmmirage.com/
30 Galaxy Cotai Mega Resort Galaxy 2008
31 City of Dreams Melco/PBL 2008
32 Macau Studio City 2009
Note: Number of casinos in Macau @ 2Q07 = 26 (Source: DICJ http://www.dicj.gov.mo/)
Updated : 3/08/2007
1 Lisboa SJM 1970 http://www.hotelisboa.com/
2 Grand Lisboa SJM 2007
3 Kam Pek SJM http://www.hotelisboa.com/
4 Fortuna SJM 2005 http://www.hotelfortuna.com.mo/
5 Diamante SJM http://www.macau.holiday-inn.com/
6 Club VIP Legend SJM http://www.landmarkhotel.com.mo/
7 Kingsway SJM http://www.kingsway.com.mo/
8 Golden Dragon SJM http://www.goldendragon.com.mo/
9 Casa Real SJM http://www.casarealhotel.com.mo/
10 Jai Alai SJM
11 Macau Palace SJM
12 Oriental SJM www.mandarinoriental.com/macau
13 Emperor Palace SJM 2006 http://www.emperor.com.hk/
14 Babylon SJM 2006 http://www.fishermanswharf.com.mo/
15 Marina SJM http://www.pousadamarinainfante.com/
16 MJC (Macau Jockey Club) SJM 2005 http://www.grandview-hotel.com/
17 Taipa SJM http://www.macau.hyatt.com/
18 New Century SJM 2004 http://www.newcenturyhotel-macau.com/
19 Waldo Galaxy 2004 http://www.galaxyentertainment.com/
20 Grand Waldo Galaxy 2006 http://www.galaxyentertainment.com/
21 Rio Galaxy 2006 http://www.riomacau.com/
22 StarWorld Galaxy 2006 http://www.starworldmacau.com/
23 President Galaxy 2006
24 Wynn Macau Wynn 2006 http://www.wynnmacau.com/
25 Sands Macau LVS 2004 http://www.sands.com.mo/
26 Crown Macau Melco 2007 http://www.crown-macau.com/
27 Venetian Macau LVS 2007 http://www.venetianmacau.com/
28 Ponte 16 MGM / Pansy Ho 2007 http://www.melco.hk.cn/
29 MGM Grand Paradise MGM Mirage 2007 http://www.mgmmirage.com/
30 Galaxy Cotai Mega Resort Galaxy 2008
31 City of Dreams Melco/PBL 2008
32 Macau Studio City 2009
Note: Number of casinos in Macau @ 2Q07 = 26 (Source: DICJ http://www.dicj.gov.mo/)
Updated : 3/08/2007
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