I have shares in LVS and MPEL and I am in Macau right now as I have pointed out on the MPEL board all last week, SCC especially in the Pacifica room has not looked busy all last week. I know only a few days left from the date of the market share was updated, but Sunday and last night the Venetian was absolutely packed out. You could hardly walk through the the place, they must have done a amazing amount of business as it was much busier than even Saturday night.
Lets not forget the 29-30% upside of GGR over last year, these truly are amazing numbers, the future is Cotai. The Paris casino is working at a feverish pace and hamering in all the pilings right now. They have huge billiboards advertising the Pacman fight next month all down one of the outside Venetian towers which is going to bring in amazing numbers, something that SJM or Galaxy can compete with.
The Tapai Permanent ferry has now been delayed again for another 9 months, opening June/July 2014....This is by a construction companly closely aligned with Stanley Ho, IMHO this is a calculated stall tactic to hold market share a little more longer on the penninsular.
The terminal should have been fully completed over 2 years ago, so go figure. Once the terminal is complete the goverment have already said they want it to be the main ferry hub for Macau instead of over the bridge on the peninsular. We should see cheaper rates from HK instead of the ridiculous one hour crossing for $25.00 each way that the fare now.
You can see all the building going up on nearby Hengqin Island as you go by the new MSC property which is out of the ground and has rebar up over 3-4 floors now waiting for concrete pour. Hengqin will be amazing for allCotai stripoperators, 20,000 rooms plavved and nextmonth Chimelong ocean park opens up over there, the first stage anywayandwill bring in amazing business all the hotelsare fully aligned. Keep the faith guys ....Leaving for Manila tonight.
I was there 3 weeks ago and the same thing. Odd. I did not realize the delay on the terminal. Interesting. While I don't own MPEl. Now, I did when the damn thing was at 5.5 and announced bad numbers and I sold at loss.. Stupid me.. I was impressed with city of dreams. I ate at hard rock. Nice place. I've missed buying in I think
Thx, grftt. It will be interesting to see if Studio City gets a gaming license...
... and if they do, how close to the resort's completion date they will secure it.
It used to be a foregone conclusion that they would get a gaming license, but after what Sands experienced with Cotai sites 7 and 8, that is debatable. Remember that the assurances that Sands got on 7 and 8 were the same kind of non-binding verbal promises from Edmund Ho years ago that Studio City was getting...
... and that was before the Studio City ownership structure got all shaken up and Melco emerged with what they got out of the deal.
BJSPOK The gaming approval will be given in my opininion a few months before MSC opening, LVS was crucified on site 7 and 8 for not playing ball with the goverment and setting up MBS in their opinion to compete with Macau. When the announcement comes for the approval of table games at MSC it will add another $5 to the stock instantly.
I want to touch on table caps what a joke that is, they are building a huge resort a fishermans wharf right now and they are claiming they have special approval from the goverment to set up 75-100 gaming tables there and will be unaffected and not counted towards the table cap limit. This was approved a long time ago, because they revitalized a historic spot in Macau and it uplifts tourism in the area right next to Macau outer ferry terminal.
The fact of the matter is, TAM is in Ambrose So back pocket and dances to his tune, just as long as money is going in to his Swiss bank account every month.
At the end of the day, all Cotai operators are going to rake it in, they have already buily a lot of the concrete pillars for the overhead light rail system......leaving for Manila tonight...laters