Sept. 30 (Bloomberg) — Wynn Macau Ltd., the casino company led by billionaire Stephen Wynn, raised HK$12.6 billion ($1.63 billion) in a Hong Kong initial public offering.

Wynn Macau sold 1.25 billion shares, a 25 percent stake, at HK$10.08 each, the company said today in a statement. The IPO values the business at 14.5 times next year’s earnings before interest, tax, depreciation and amortization as estimated by banks involved in the sale, a person with knowledge of the matter said. Read the rest of this entry »

MAKUNG, Taiwan — Taiwan’s Penghu group of islands held a referendum on Saturday on whether it should host a new casino following the repeal of a law banning such gambling facilities.

A total of 73,651 residents of the outlying archipelago in the Taiwan Strait are eligible to vote while the outcome is expected around 1000 GMT, the Penghu county government said.

The vote came after the ruling Kuomintang (KMT) party pushed through a controversial bill in parliament in January to lift the decades-long ban on casinos. Read the rest of this entry »

Las Vegas casino operator Wynn Resorts plans to raise up to $1 billion by listing its Macau assets on the Hong Kong stock exchange, two sources with direct knowledge of the deal said on Friday.

The listed unit, Wynn Macau Ltd, will sell 20 percent of its enlarged share capital, said a source who declined to be identified. The tentative listing date for the IPO is set for Oct 9, the source added. Read the rest of this entry »

Genting Singapore has fuelled speculation over a possible entry into the Macau market after it announced a S$1.63bn (US$1.19bn) rights issue that it said will, in part at least, go towards possible future acquisition and investment plans.

The rights issue was announced to the Malaysian Stock exchange on Wednesday and will see the company issue over 2 billion shares at a price of S$0.80. It has been fully underwritten by lead managers DBS Bank and CIMB Bank. Read the rest of this entry »

NEW YORK, Sept. 8, 2009 (GLOBE NEWSWIRE) — Melco Crown Entertainment Limited (Nasdaq:MPEL - News), a developer and owner of casino gaming and entertainment resort facilities focused on the Macau market, today announced that Grand Hyatt Macau will open on Tuesday, September 29, 2009, marking the next phase of development at City of Dreams. Read the rest of this entry »

Genting Singapore Plc, which is building one of two casinos in the island nation, surged to a record on speculation its $6.6 billion resort casino in the city-state will open ahead of schedule.

The stock surged up to 9.3% to $1.17. It recently traded 7.5% higher at $1.15, set for its highest close since listing in Sept 1991. Read the rest of this entry »

NEW YORK (AP) — Macau gaming revenue climbed about 17 percent in August, an indication that swine flu fears may be waning and visa restrictions easing, an analyst said Tuesday.
It is only the second time this year that the Chinese enclave has reported monthly gaming revenue growth, Janet Brashear of Bernstein Research said. The increase is so dramatic that Brashear said she assumes some visa restrictions are being loosened. Read the rest of this entry »

Crown, which posted a profit of $3.55bn a year earlier on disposals and demergers, said it wrote down the value of its “ill timed’” North American investments by $1.44bn.

“The global financial crisis has had a major adverse impact on the North American casino industry leading to a requirement to write down the carrying value of Crown’s investments in these markets,” chief executive Rowen Craigie said today. Read the rest of this entry »

Twenty-three days after falling in his fourth wife’s home, questions and conjecture along with much concern continue to swirl around what has happened to casino king Stanley Ho Hung-sun, who remains in the intensive care unit at the Hong Kong Adventist Hospital with a head injury.

Although the Ho family has been tight-lipped about his condition, a doctor said that a delay in treatment early on could be a reason why Ho has been in the unit for a relatively long period. Read the rest of this entry »

NEW YORK (AP) — A Las Vegas Sands Corp. subsidiary has submitted an application to the Hong Kong Stock Exchange for a potential listing, according to a regulatory filing on Thursday.

The Sheldon Adelson-led casino operator said in the Securities and Exchange Commission filing that no decisions have been made on the timing or terms of any offering and that there were no guarantees that the subsidiary would follow through with the possible listing. Read the rest of this entry »