Word: macau
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...fold to $20 a share, it's still far below its peak. Wynn Resorts (WYNN) and Las Vegas Sands have seen the biggest gains, with their stocks rising 296% and 842% respectively in the past 52 weeks. But their gains were driven largely by their exposure to the lucrative Macau market, where gaming has been on fire. Indeed, gaming revenue totaled $15 billion in Macau in 2009, which is three times Las Vegas' $5 billion, according to Brashear, and both Wynn and LVS relied on Macau for more than 60% of their earnings in 2009. "The expansion in Asia...
...past decade and where the social stigma of failing to get ahead is exacerbated by glaring income inequality, financial hardship is thought to be the root cause of such tragedies. Two years ago, a study co-authored by the University of Hong Kong and the University of Macau found that a deranged sense of compassion was common - parents killed their offspring to spare them from destitution and believed it their right to do so. "We take our children as our property," says Fernando Cheung, former head of the Hong Kong legislature's welfare panel. "Asian culture dictates that they...
...bill proposed by the local government was defeated after a million people took to the streets in protest. Beijing has not formally made the antisedition law a precondition to democracy, but there have been subtle hints that it may be a factor: in December, Chinese President Hu Jintao praised Macau, China's other SAR, which has passed...
...casino is an important component of our integrated resort, our convention center, entertainment, celebrity chef restaurants and luxury shopping mall will bring tens of thousands of people daily," says Thomas Arasi, CEO of Marina Bay Sands. "Las Vegas Sands has opened and run integrated resorts in Las Vegas and Macau, and we think this is a successful business model that will also work in Singapore...
...Singapore casinos, to be sure, have significant long-term advantages. Unlike the crowded gaming markets of Macau and Las Vegas, they will be operating as a duopoly with no immediate fear of further competition. The gambling tax rates will be significantly lower in Singapore than they are in Macau. And, most important, the casinos sit on perhaps two of the most coveted pieces of real estate in the country, enhancing their appeal to both locals and foreigners. Marina Bay Sands is minutes away from the city's downtown offices on a fringe of sea-facing land overlooking the ship-sprinkled...