12, Dec, 2013

Hong Kong-listed CY Foundation group said interim revenue slipped to HK$28.47 million in the six months to the end of September, from $29.72 million a year earlier. The group, which has interests ranging from packaging products to digital entertainment, had a profit from continuing operations of $1.3 million, compared with a loss of $38.2 million reported a year earlier.

 

12, Dec, 2013

Sun Hung Kai analyst Stephen Yang is forecasting that orders from Las Vegas, Australia, Southeast Asia and Macau will fuel a recovery in Paradise Entertainment game sales next year. The company may sell as many at 3,000 live multi-game machines, it said. That’s up from 960 last year and fewer than 700 so far this year.

12, Dec, 2013

Macau’s government stands to reap $85.4 million next year in taxes on commissions paid by casinos to junket operators, according to local media reports. The figure in next year’s budget is 1.9 percent higher than this year’s. A withholding tax of 5 percent is levied on commissions paid by the casinos to the junkets.

 

12, Dec, 2013

JP Morgan says Sands China Ltd has the biggest upside of the territory’s casino operators because of its exposure to mass-market gaming. This means the company will “post attractive growth”. Hotel rooms in the Sands Cotai Central casino resort and an improving yield will drive success.

12, Dec, 2013

Wells Fargo Securities said mass market gaming revenue growth is outpacing that of the VIP sectors, gaining 34.8 percent so far this year, 

compared with just 13.2 percent for the VIP sector. Slot machine revenue growth has been 8.4 percent. That trend was seen in the latest November figures with the mass market growing by 39.4 percent and VIP revenue up 14.8 percent, the firm said.

 

12, Dec, 2013

Macau’s casinos would like to establish smoking rooms, without gaming facilities inside, much in the way airport lounges provide space for smokers, local media said. The Health Bureau said it received a petition from the six casino concessionaires and sub-concessionaires asking for the changes. It now plans to hold talks with the gaming regulator and seek a legal opinion on the matter. However, Health Bureau director Lei Chin Ion indicated support for the idea, telling local reporters, that in this way “most of the casinos’ gaming areas would be smoke free.”

06, Dec, 2013

The Hong Kong Jockey Club is continuing its digital development with a new “Racing Touch” app for the iPad Air and iPad mini. The App provides a graphically-rich horse racing and betting mobile application. 

It allows customers to study information for each race, with life-like horse graphics. Anyone with a registered Hong Kong Apple ID can download Racing Touch free of charge from the App Store via their iPad. Customers who hold a betting account with The Hong Kong Jockey Club will be able to place bets via Racing Touch.

06, Dec, 2013

Goldman Sachs has downgraded Melco Crown from Conviction Buy to Buy, but has upped its price target to $43.00 from $34.10. MGM China replaced Melco on the Conviction Buy list. Analyst Simon Cheung said Melco is unlikely to be able to continue to produce dramatic positive earnings revisions in the next six-to-12 months as it has already strongly outperformed its peers.

06, Dec, 2013

Iao Kun Group Holding Co. says it’s unlikely to meet its non-GAAP income guidance for 2013 because of low win rates in October and November. The VIP room operator said its November rolling chip turnover gained 19 percent to $1.5 billion. The win rate for November was 1.64 percent. The company said the low win rates also caused it to record an operating loss for October and November, but didn’t give details.

06, Dec, 2013

Melco Crown Entertainment is expanding its non-gaming attractions, with a project styled on London’s Soho District, local media cited CEO Lawrence Ho Yau Lung as saying. The attraction at the City of Dreams resort will open next year and will mark the fifth anniversary of the opening of the development. The company will add more non-gaming attractions next year, he said.

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