Macau

Sands China posted a 16.1 percent decline in profit for the full-year 2016 to $1.2 billion, down from $1.5 billion in 2015, according a preliminary announcement of its annual results.

Melco Crown Entertainment posted a 13 percent gain in Q4 revenue as an improved performance at Studio City and City of Dreams Manila offset declines at its older properties.

MGM China reported an improvement in Q4 profit and said revenue edged up, helped mainly by a higher VIP hold.

The newest casino hotel in Fisherman’s Wharf has been granted 15 new mass market gaming tables from the Macau government.

Melco International Development Ltd. has acquired an additional US$1.1 billion worth of shares in Melco Crown Entertainment (MCE), bringing its ownership to 51.3 percent.

The Macau government has reportedly proposed amendments to the smoking bill which would allow the establishment of smoking lounges in the city’s casinos.

Macau’s economy will continue to remain at risk to Mainland policy changes, read a report from the IMF.

More than 50 percent of gaming employees in Macau are in favor of smoking lounges, according to a survey commissioned by the city’s gaming concessionaires.

Macau’s gaming industry performed better than expected in the week ended Feb. 12, with ADR of MOP 814 million (US$101.9 million).

Casino operator Melco Crown Entertainment (MPEL) will likely post strong results for 16Q4 as a result of Studio City ramp up and a rebound of City of Dreams, said a note from Morgan Stanley on Sunday.

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