Ayre's compiled a list of known VIP room relationships for Neptune late last Fall. Someone send CS "analyst" and the Barron's "journalist" a note that, funny to see, MPEL is the only house NOT on the list.
NEPTUNE GROUP JUNKET PROFITS RISE 26%
OCTOBER 5, 2013
Macau junket operator Neptune Group recently handed in its financial report for the fiscal year ending June 30, and investors in the Hong Kong-listed firm have reason to cheer, Profits rose 26% to HKD 564.5m (US $72.8m), outpacing the 11% growth experienced by Macau’s VIP gambling market in the most recent quarterly figures. Earnings per share came to HK 6.95¢, down 5.5% from fiscal 2012, although this is attributable to dilution following an 8% increase in the ordinary shares issued during the year.
Neptune’s trade receivables – aka unpaid VIP gambling debts – totaled HKD 418m ($53.9m) for the year, up 30% from HKD 321m in fiscal 2012. Some 69% of FY 2013’s receivables have been on Neptune’s books for over 90 days, but the company insists that it didn’t record any impairment loss on these receivables. Neptune has profit sharing deals with five Macau junket firms covering 61 VIP gaming tables at the Venetian Macao, Sands Macao, Galaxy StarWorld and SJM’s Grand Lisboa. Late last month, Neptune let it slip that it had signed a memorandum of understanding for possible investment in a junket operating out of the Galaxy Guangdong VIP Club at the Galaxy Macau.
Neptune has been in one sort of trouble or another for years. Whether it be for illegal activities or over extending credit. They need to have their license revoked to send a message the DICJ isn't going to tolerate this stuff anymore.
First, FY moron. Second, the aritcles I am making fun of were NOT news, they were weak sauce pseudo journalism, but you are too stupid to even understand that. LOL
did I mention you should go F yourself? Yeah, FY putz breath, you and the camel you rode in on.
foggy, you are welcome...
I usually ignore motley putz, seeking dufuses and "the street" articles as a waste of time, but have a look at "the street's" pos article today. Those who know little about Macau, MPEL's operations and the Ho family's history/pride (so likely most momo guys, many retail investors and lots of traders playing short the sector these recent days, and all the pakitrading club tarts), might read that and actually think MPEL is operated by crooks in cahoots with criminal fraudsters and money launderers... what joke these f heads and the CS/barron's tools made it seem like MPEL was somehow in trouble and might have big losses to come from fraud; a shame innocent unawares might have traded out of their MPEL shares today out of fear.
It was a great chance to add... relative to MPEL's huge progress on premium mass, mass and footprint, the stock is cheaper today than it was at $12 in November 2012, or $20 in early July 2013 when all the talking heads and other morons where saying China was in deep economic trouble and VIP was a major problem for all of the companies in Macau.