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Melco Crown Entertainment Limited Message Board

grftt 209 posts  |  Last Activity: 15 hours ago Member since: Jan 20, 2007
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  • Reply to

    Going for Osaka

    by grftt 20 hours ago

    MANILA, Philippines – A Japanese owned gaming company bent on building a casino complex in Manila Bay can't operate until they find a Philippine partner as required by law, according to the head of the Philippine Amusement and Gaming Corp (PAGCOR).

    Okada is set to open its US$2-billion integrated hotel and casino resort within the PAGCOR-sponsored Entertainment City by March 2015.

    “Even if they finish it they still cannot open it if they do not have a local partner. Before opening they should abide by all Philippine laws,” said PAGCOR chairman Cristino Naguiat Jr.

    Laws require a 60-40 ownership in favor of Filipino investors when a firm acquires a land in the country.

    Okada's project, dubbed Manila Bay Resorts, will stand on 44 hectares of land within the Entertainment City complex.

    Naguiat said that Okada's Tiger Resorts Leisure and Entertainment Inc is already in talks with possible local partners in order to proceed as planned.

    But the Japanese company had already ended joint venture agreements with two local property companies, specifically, Century Properties Group Inc and Robinsons Land Corp.

    Okada is owned by billionaire gaming tycoon Kazuo Okada. He has been accused of bribing PAGCOR officials to obtain the Manila Bay Resorts contract and maintain his Philippine businesses.

    The scandal has resulted in investigations by the Nevada gaming body and the US Federal Bureau of Investigation (FBI). Naguiat has threatened to strip Okada of its license if evidence of bribery is found.

    Manila Bay Resorts is envisioned to be world class casino resort complex with luxury hotels and restaurants, commercial facilities, residences, Vegas-style water fountains and an enormous indoor pool.

    Company officials say it can create 15,000 direct and indirect jobs.

    Sentiment: Strong Buy

  • Reply to

    Going for Osaka

    by grftt 20 hours ago

    Yep I agree ......check out Okada's problems in Manila they are mounting and may delay opening of his mega project in Manila.

    Sentiment: Strong Buy

  • Just as I thought and hoped for Osaka is the best site for mpel .....LVS would be good there also, big convention town without the assize hassle and bustle of Tokyo...This looks promising.

    Representatives from Melco Crown Entertainment Ltd have met with authorities from Osaka, in Japan, to discuss building a casino resort in the city. Japanese authorities are currently considering legalising casino gambling in the country.

    The Sydney Morning Herald reports on Thursday that company director Todd Nisbet recently met with Osaka governor Ichiro Matsui to discuss the matter. The report did not clearly state when the meeting took place.

    Mr Nisbet told the newspaper in emailed correspondence that some of the topics discussed included the competitive vantages of Osaka to host a casino resort, including the nearby 24-hour international airport and cheaper land costs compared with other Japanese cities. According to media reports, there are at least six prefectural authorities vying to host casino complexes: Osaka, Tokyo, Hokkaido, Nagasaki, Miyazaki and Okinawa.

    The executive said Melco Crown representatives had been meeting local government representatives and businesses to discuss the benefits of integrated resorts to Japan.

    The results of an online survey released earlier this week by Japanese advertisement and public relations agency Hakuhodo Inc show Osaka was considered by respondents the third most attractive location for a casino resort in Japan. Hakuhodo forecast that a casino resort in the city could attract around 13 million domestic visitors a year, generating sales of JPY1.9 trillion (US$18.5 billion), excluding shopping spending.

    Melco Crown chief executive Lawrence Ho Yau Lung (pictured) said in September last year the company was ready to invest US$5 billion in a casino resort in Japan. The gaming operator currently operates two casino properties in Macau and is building a third one. It is one of the main investors in casino resort City of Dreams Manila, scheduled to open later this year in the Philippine capital.

    Mr Nisbet however told the Sydney Morning Herald: “It is still very early and until the parliamentary debate is completed it is important we respect the Japanese processes.”

    Casino legalisation in Japan will be a two-statute process. After an enabling bill legalising casino resorts at the conceptual level, a second piece of legislation would detail the specifics, including how they are administered and regulated.

    The Cabinet Committee of Japan’s lower parliamentary chamber started discussions last month on the enabling bill. However, the Japanese parliament is now in recess.

    GGRAsia has obtained a note of the main topics already discussed by the cabinet committee. In it, lawmakers give the clearest indication yet that they are interested in having foreign gaming operators involved in casino resorts. Japanese Prime Minister Shinzo Abe has said his party will seek to pass the enabling law to legalise casinos in the next session of parliament.

    Sentiment: Strong Buy

  • Reply to

    a few conference calls ago

    by drjackcar Jul 31, 2014 8:45 AM

    Ok ;)

  • Reply to

    a few conference calls ago

    by drjackcar Jul 31, 2014 8:45 AM
    grftt grftt Jul 31, 2014 10:14 AM Flag

    And more importantly the first casino they run in to coming over the bridge is...

    MSC

    The hotels that are on the drawing boards are 20-30k rooms for Henqin alone. I think we will see a few more casino operators getting in to the hotel business in a big way on Henqin like Galaxy to steer folk to their own casinos on Cotai.

    Sentiment: Strong Buy

  • Reply to

    MPEL and VIP

    by toast22342000 Jul 30, 2014 9:21 AM
    grftt grftt Jul 30, 2014 11:44 AM Flag

    Pushing VIP to Manila from COD for less taxes is basically a wash as Mpel takes 50% of the profits from Manila. Pushing VIP from MSC once it is running is more practical.
    Trust me there will be much much more VIP from Korea and Japan by far from Mainland anyways.

    Solaire (entertainment city) or resort world (genting) at Aquino airport have basically little to offer high end VIP. COD Manila is what VIP Korea/Japan have been craving for a long time and will make up IMHO 70-80% of all VIP play, maybe more. Personally as I have said before I cannot wait for earnings to lift the cloud off MPEL and send the stock North....Good Luck!

    Sentiment: Strong Buy

  • Reply to

    grftt (OT)

    by tfberynell Jul 29, 2014 6:27 PM
    grftt grftt Jul 29, 2014 8:18 PM Flag

    Ok will do.

    Sentiment: Strong Buy

  • Reply to

    VIP betting by phone in to Macau

    by grftt Jul 28, 2014 8:21 PM
    grftt grftt Jul 29, 2014 12:42 PM Flag

    But 10% of all VP betting is enormous wouldn't you say.

    Sentiment: Strong Buy

  • This is new to me like.....I have never heard this was so popular and took up 10% of VIP betting.

    Macau Casinos Allow High Rollers To Bet By Phone, With Plenty Of Hang-Ups
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    When New York City pioneered legalized off track betting on horse races in 1971, in addition to OTB parlors, it also established phone betting services. An ad from those days touted the ease of phone betting, with the satisfied customer explaining the simple steps to a friend, then in conclusion declaring, “…and boom, I get my action from over the phone!”

    Macau is another place where, boom, you can get your action from over the phone, not on horses but on baccarat. Tony Tong, a Macau junket promoter investor and adviser with Pacific Financial Services, estimates phone betting accounted for 10% of VIP revenue, about $3 billion, last year. Perhaps more amazing, the technology for phone betting is largely straight out of 1971. Sure people use mobile phones now, but a land line or pay phone would work just as well.

    If your road doesn’t lead to the casino, just pick up the phone. (Photo credit: Wikipedia)

    Legal phone betting in Macau – more on that point below– takes place exclusively in VIP rooms, usually through a junket promoter. A player that can’t go to the casino, say a mainland China high roller waiting to be eligible for the next visa or just has to be elsewhere, can call the VIP room to place phone bets. The practice is also known as telebetting or proxy betting, because betting is done by a proxy in the room, talking by phone with the player, who will already have an account with the room and/or junket promoter, making settlement simple.

    Because the proxy needs to talk to the player, the VIP room requires phone bettors to have their own table, often in a side room, to minimize the nuisance for other players. To get a private table, the player (or players on the same call so they know the betting on table) needs to roll at least HK$3 million (US$385,000) in the session.

    As with most regular VIP play in Macau, the game is baccarat. The player tells the proxy their bet(s), chips go on the table, the cards are dealt, the proxy tells the player the cards on the table and the results, then process repeats. Obviously, a trusted proxy is a key link in the chain.

    The process would go much more smoothly and likely with far greater bettor confidence if cards were shown live to bettors. But Macau law prohibits broadcast of casino play and results, including streaming via the internet, likely because it doesn’t want to encourage wider remote betting in jurisdictions where it would be illegal. Some VIP rooms have brought the technology into the 1980s with printers and fax machines on the tables, but even then, phone betting in Macau relies on having a proxy the player trusts on the other end.

    Junket promoter Jimei Group chairman Jack Lam has attempted to push the envelope. He tried unsuccessfully to get Macau to allow play to be beamed from Jimei’s small casino in the Grand Lapa Hotel (Macau’s original Mandarin Oriental) to hotel guests. When that failed, Lam set up a proxy betting operation in the Philippines, in essence a studio casino utilizing attractive women with cameras attached to their heads to place bets for Jimei customers who call in or play via internet. Working with its established customers makes the payment process easy for Jimei.

    Not so for other legal casino jurisdictions in Asia, including Vietnam, Cagayan in the Philippines and Cambodia run proxy betting operations streamed over the internet. They face the payment problems common to all online gaming for players in jurisdictions where online casino play is illegal or restricted to certain types of play or locally registered operators. Just ask US online poker players that have had their overseas accounts blocked about that. In some places, there’s no pretense of legality: last year, yakuza in Japan reportedly set up betting rooms taking cash bets on site using play beamed live from overseas studio casinos.

    In Macau, “proxy betting is completely legal,” Tony Tong says. However, it may be illegal in the jurisdiction where the player is placing their bet, for example, mainland China or Hong Kong. So while getting your action from over the phone, if you’re in the wrong place, there’s the risk that, boom, you could wind up behind bars.

    Sentiment: Strong Buy

  • Reply to

    Got a hold of new photos of MSC from my friend

    by grftt Jul 26, 2014 12:53 PM
    grftt grftt Jul 28, 2014 2:36 PM Flag

    Tberry watch the video ;)

    Sentiment: Strong Buy

  • Reply to

    Got a hold of new photos of MSC from my friend

    by grftt Jul 26, 2014 12:53 PM
    grftt grftt Jul 27, 2014 5:01 PM Flag

    That's a real cool video of the new tower 5 at COD also.....swimming pool and design altogether is amazing.

    Sentiment: Strong Buy

  • Reply to

    Got a hold of new photos of MSC from my friend

    by grftt Jul 26, 2014 12:53 PM
    grftt grftt Jul 27, 2014 4:29 PM Flag

    Ok will send in a few mins ....what you think is it going to make it, pictures taken Friday.

    Sentiment: Strong Buy

  • Well it certainly has sprung up, the outer towers are nearing topping out stage but still loads to be done. The project will look magnificent when finished as I showed some of you the completed model from the engineering office. The LVS parisian building site is sitting idle at presen,t maybe we can borrow some workers ;)

    Sentiment: Strong Buy

  • Reply to

    Over 15 million visitors to Macau first 6 months

    by grftt Jul 23, 2014 9:07 PM
    grftt grftt Jul 23, 2014 11:47 PM Flag

    For me people take the PMI to serious if differs a point either here or there
    it is mainly a psychological edge for a lot of people. That is unless it is some kind of to trend 4-5 points either way. The purchases managers index was by far most accurate for years to measure the health of Macau and mainly VIP guidance. Now it is not the mother barometer of GGR. The mass gamers are here to stay and although PMI still has importance the, visitation and mass gamers gets little coverage IMO.
    The stimulus is obviously working in China and what they are spending on the HSR new routes makes day trips to Macau a reality for tens of millions.

  • Just eight of Macau’s 35 casinos made 75.3 percent of the city’s casino gross gaming revenue in the first half of this year, Jornal Tribuna de Macau reports.

    The Portuguese-language newspaper says the eight are the casinos in the Galaxy Macau, the Wynn Macau, the City of Dreams, the MGM Macau, the Venetian Macao, the Grand Lisboa, Sands Cotai Central and StarWorld, which together raked in MOP145.4 billion (US$18.21 billion).

    The Galaxy Macau had MOP24.9 billion in gross gaming revenue, the Wynn Macau had MOP20.3 billion and the City of Dreams had MOP19.6 billion.

    Sentiment: Strong Buy

  • Still over 8% yoy and Chimelong is said to bring in over 3 million alone once fully opened. Macau still on explosive growth.
    ..........................
    In the first half of 2014, visitor arrivals in Macau reached 15,283,847 (an increase of 8% year-on-year) and same-day visitors accounted for 54% of the total number, according to information from the Statistics and Census Service (DSEC).
    Visitors from mainland China (+15%), Taiwan (+2%) and the Republic of Korea (+18%) increased year-on-year, while the number of visitors from Hong Kong (-6%) decreased. Moreover, long-haul visitors from the United States, Australia and the United Kingdom recorded year-on-year increases; however, the number of arrivals from Canada and France registered declines.
    In June, visitor arrivals increased by 5% year-on-year to reach 2,432,041. Same-day visitors accounted for 53% of the total, sitting at 1,297,678.
    DSEC mentions that the “increase in visitor arrivals slowed after the rush during the Easter and Labour Day holidays.” Analyzed by place of residence, visitors from mainland China totaled 1,597,289, an increase of 9% year-on-year, having come primarily from Guangdong Province (667,052), Fujian Province (72,061) and Hunan Province (57,960). Mainland visitors travelling under the Individual Visit Scheme rose by 11%, totaling 672,405. Visitors from Taiwan (85,350), the Republic of Korea (41,786) and Japan (24,208) further increased by 12%, 24% and 25% respectively year-on-year, while visitor numbers from Hong Kong (513,561) decreased by 8%. Long-haul visitors from the United States (15,317) registered a year-on-year increase; on the contrary, the number of arrivals from Australia (6,899), Canada (4,422) and the United Kingdom (3,908) all marked decreases.
    The average duration of a visitor’s stay remained unchanged from the previous year, registering at 1.0 day in June 2014. Overnight visitors and same-day visitors stayed an average of 1.9 days and 0.2 of a day respectively.

    Sentiment: Strong Buy

  • Reply to

    Gambling Law in Japan failed

    by mrtaxxxx Jul 21, 2014 3:39 PM
    grftt grftt Jul 21, 2014 3:48 PM Flag

    The Japanese only account for some 2-3% of the Macau market and has been steadily dropping for the past 3-4 years. I would say the Japanese casinos "if regulated" would be over 90% domestically patronised.

    Sentiment: Strong Buy

  • Reply to

    Anybody have td ameritrade account regarding dividend

    by grftt Jul 19, 2014 12:14 PM
    grftt grftt Jul 21, 2014 3:14 PM Flag

    Td Ameritrade UK ...They taxed me 30% automatically on the dividend because it was on the US board....Never knew they would do that.

    To answer your question "no you do not get taxed twice"

    I will email my broker so I have record proof later.

    Going to ask him if they "automatically" take 30% tax on "profit" on my US stocks when I sell them.

    Sentiment: Strong Buy

  • Reply to

    Japanese goverment to set special unit for gambling

    by grftt Jul 20, 2014 7:19 PM
    grftt grftt Jul 21, 2014 2:47 PM Flag

    That's the one, I guess she had come over at the concessionaires meeting and basically verbally attacked him lol...One word that comes to mind Greed lol.

    I thought the New MGM design for Cotai looked pretty cool. They have the bridge hook up to COD that will be great (confirmed) and possibly the link by (people mover) to SJM to the other Ho property.

    You got a point on those windows though buddy, it will be a nightmare to clean lol and maybe same as the fifth tower COD. I stayed the Luxor not long after it opened 20 years ago. They had a guys running past the window tied to a mountain rope cleaning them suckers.

    It will be good to get some GGR results possibly tomorrow so we can see what's happening. Hopefully we will have a run rate over 10% GGR run rate from when the WC final concluded.

    The earning cannot come fast enough....sick of the BS analysts.....good Luck

    Sentiment: Strong Buy

  • Reply to

    Scottrade customers

    by michsteve09 Jul 11, 2014 5:55 PM
    grftt grftt Jul 21, 2014 7:52 AM Flag

    Youhavetd ameritrade in the statesI presume...mine is td ameritrade UK

    Sentiment: Strong Buy

MPEL
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