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Dover Downs Gaming & Entertainment Inc. Message Board

  • grahamanddodd1000 grahamanddodd1000 Dec 18, 2004 12:17 AM Flag

    Macau casino

    Here's the beef on MACAU...........

    Stanley Ho used to have monopoly over gaming in macau. Since 2 years 2 other master licensees have been invited: Galaxy, a HK non-listed investor) and Wynn. Galaxy used to partner with Sands but they broke up the partnership. To save face Macau govnm granted Sands a special permit. Net, 2 master licensees and one unofficial master. All other are sublicensees to these.

    Sands as you know just listed as LVS. Their first casino in Macau opened this Spring and is already on track to earn back the US$260 mn investment IN ONE YEAR.

    NASDAQ-listed WYNN will open several casinos in Macau during 06-08.

    Melco, which is controlled by Stanley Ho's son Lawrence, code 0200.hk, just entered into a joint venture with Casino tycoos Parker of Crown Casino in Australia (PBL group, Australias biggest gaming/media co). They will operate the Park Hyatt gaming ops in Macau, as well as the Mocha slots "casual gamblers" retail chain of slot machines. They also intend to seek licenses for casinos in Singapore, Thailand and Vietnam.
    This JV will be listed on NASDAQ in 2005 (at least thats their intention). Melco is today priced at US$900 million on the HK stock exhange. Compare to LVS at US$18 billion and it might be worthwhile to open a HK trading account with Schwab, and profit from the asset gain when the subsidiary is listed on NASDAQ.

    Melco is up 600% since August this year, and is still good value. The Macau concept didnt catch until sep 04 in HK. Since then all Macau themed stocks are on fire and every week there is a new deal announced.

    Other HK companies with Macau gaming connection:

    code 0242.hk. Stanley Hos flagship company Shun Tak. Possibility they too seek to list assets on NASDAQ. They have virtual monopoly on jet ferry travel from HK to Macau (terminals, ships) and own the 4-5 biggest hotels with gaming ops in Macau. Big company, big plans. Also owns 5% of the former monopoly, STDM.

    Others

    code 0959.hk A-max owns 8% of a casino and hotel. Currently way overvalued. Potentially a scam.

    codes 0035.hk, 0036.hk, 0037.hk belong to the same groups and have real estate interests in buinding casinos and hotels in Macau. Serious cos, but no gaming.

    etc, there are plenty of other stock. check out www.quamnet.com for more daily info on deals.

    What not a lot of people realise is that next year Macaus gaming square feet area will exceeed Atlantic city's and by 2007, Macau will have 80% of Las Vegas gaming area (even taking into account expansion in LV, wynn resorts etc). Macau gaming revenue already exceeds Atlantic City.

    Real estate priced in macau are up 150% in 12 months and still rising.

    I live in HK. With Macau gaming deregulation and Disneyland opening next year, these are exciting times for these two cities.

    I will post this message on other boards too.

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