Nov

24

Cotai Strip might get new financing

Filed Under Macau, Macao, Las Vegas Sands, Cotai Strip® | Leave a Comment

Reuters is reporting that Goldman Sachs could be working on a $1 billion loan for Las Vegas Sands’ Cotai Strip, and the article indicates that sources speculate that the loan could be used for recently suspended sites 5 and 6. A $1 billion loan is a far cry from the $5 billion plus loan they had been previously hoping for, but you’ve got to start somewhere I suppose.  Read more

Oct

22

Cotai Strip condos for sale

Filed Under Macau, Macao, Las Vegas Sands, Real Estate, Four Season's Hotel Macao, Cotai Strip® | Leave a Comment

cotai strip real estate condos

Las Vegas Sands Corp. announced today that the government of the Special Administrative Region of Macao has approved the legal separation of the company’s Four Seasons apartment hotel tower from the other components of its Four Seasons parcel on the Cotai Strip®. The legal separation of the property will allow the company to transfer the apartment hotel building into a separate cooperative holding company and to sell cooperative interests in the tower in a manner similar to the way apartment units are sold in New York City and other international locations. In addition, the approval from the Macao government clears the way for the company to monetize the cash flow generated by The Shoppes at Four Seasons, its 200,000 square foot luxury retail mall, which is also located on the Four Seasons parcel. Read more

Oct

19

MPEL Provides an Update of Construction Progress and Financing at City of Dreams

Filed Under Macau, Macao, Cotai, Melco PBL, City of Dreams | Leave a Comment

Melco Crown Entertainment Limited seeks to update the status of progress at City of Dreams, its flagship integrated casino hotel resort development in Macau, in response to recent turbulence in global financial market conditions and certain press reports.City of Dreams remains fully on target to open to the public during the first half of 2009. Construction activity will be maintained at maximum capacity through the end of 2008 to deliver the construction timetable to completion. Our projected budget for phases one and two of City of Dreams also remains unchanged.  Read more

Oct

15

Cotai Strip shopping assets may be sold

Filed Under Macau, Macao, Las Vegas Sands, Shopping, Cotai Strip® | Leave a Comment

From Reuters:

Las Vegas Sands Corp might spin off billions of dollars of Macau retail assets into a property fund, but is under no pressure for a quick sale despite problems funding ambitious casino expansion, an executive said.

The company, which runs the giant Venetian Macao casino and is building more hotels and casinos in the territory, floated the idea of selling its shops into a listed property trust a couple of years ago.

But with stock markets tanking in the last year, hitting real estate investment trusts (REITs) hard, Las Vegas Sands is now considering packaging the property into a fund for institutional investors.

“It’s something we’ll look at, whether it’s a wholesale fund or a REIT,” David Sylvester, the company’s head of retail in Asia, told Reuters in an interview.  Read more

Aug

28

More Cotai Strips

Filed Under Las Vegas Sands, Cotai Strip® | Leave a Comment

Sheldon Adelson hopes to spend another $12 billion on a new Cotai Strip like development.  Read all about it at Global Casino BOOM.

Aug

25

LVS sets terms on Cotai Strip financing

Filed Under Macau, Macao, Cotai, Las Vegas Sands, Cotai Strip® | Leave a Comment

Bloomberg is reporting that LVS is closing on a loan to help fund its Cotai Strip hotel casino expansion.  The article reports that LVS is paying more then it had to pay for a loan it took out in 2006, which shouldnt be surprising considering the state of the credit markets.  Even if costs a little more this time around, LVS and its investors should be relieved that financing is in place to continue with the Cotai Strip expansion, which would explain why LVS’ stock was actually up today when the rest of the market was down about 2%.
From Bloomberg:  Read more

Aug

5

LVS 2nd quarter conference call

Filed Under Macau, Macao, Cotai, Las Vegas Sands, Cotai Strip® | Leave a Comment

Theres been a lot of volatility in LVS’ stock price over the past few months, so I couldnt wait til they held their conference call to discuss everything happening in Macao.  The financing of the Cotai Strip, Macau travel restrictions, plans for the parcels, it was all in the call.  I found a transcript of the call, but unfortunately Im only allowed to copy 400 words or I get sued.  So if you want to read it all, and I recommend that you do, click here.

Heres the intro:   Read more

Jul

23

Interview: Pansy Ho comments on MGM Cotai

Filed Under Macau, Macao, Cotai, MGM & Pansy Ho, MGM Cotai | Leave a Comment

From Bloomberg:

Pansy Ho, daughter of gaming tycoon Stanley Ho and managing director of Shun Tak Holdings Ltd., talked with Bloomberg’s Bernard Lo in Macau on July 19 about Macau government measures to curb a gambling expansion in the city, the potential impact on the second casino venture with MGM Mirage, and SJM Holdings Ltd.’s trading debut in Hong Kong last week.

Click on link on right hand side of the Bloomberg page under “Related Videos and Graphs” for her interview.  Read more

Jul

14

Quick look into SJM’s public IPO filing

Filed Under Macau, Macao, Wall Street, SJM | Leave a Comment

We’ve all read quite a bit over the past days, weeks, months and years(?) about the SJM IPO. There was some good stuff in the press, although it seems like the headlines were more about whether or not SJM can pull the IPO off, or can Winnie derail it, rather than the juicy details of the company’s actual operations. I want to know what the new competition has done to SJM, what are the company’s plans, what are its risks, etc. What has been really surprising to me is that we really have not seen this type of reporting in the press. Read more

Jul

11

Crazy day for Wynn Resorts

Filed Under Macau, Macao, Cotai, Wynn | Leave a Comment

What a crazy and contradictory day for Wynn Resorts yesterday.

First, the day started off with rumors that Wynn Resorts was planning on raising anywhere between $500 million to $3 billion in a secondary stock offering on the Hong Kong Stock Exchange to help finance its Wynn Cotai Development. The reports were pretty detailed, even naming the investment banks the company had lined up to help.

When I read this, I thought a few things: Read more

Jul

10

Welcome #6

Filed Under Macau, Macao, SJM | Leave a Comment

With Winnie out of the way, it looks like SJM will have its stock listed next week on the HK Stock Exchange, making it the sixth and final of the six Macau casino concessionaires to be a public company.  This will give us all one more public company to scrutinize and should answer some of the burning questions we’ve had, like how has SJM fared with the opening of all the new casinos Read more

Jul

8

Macao casino companies looking for billions

Filed Under Macau, Macao, Las Vegas Sands, SJM | Leave a Comment

The two Macao heavyweights, SJM and LVS, have been in the market looking for billions of dollars.  First, LVS is trying to secure a loan to help finance the remaining construction on its Cotai Strip® project.  This seems to be new news since I could only really find one article on it.  Second, everyone knows SJM has recently been talking to potential investors to try and pull off its IPO, and now it looks like it finally got done.  Unfortunately Read more

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