THE M3: MGM CHINA IPO PRICING; WYNN COMMENTS; ARISTOCRAT/GALAXY MACAU; CENTRAL SAVING ACCOUNTS

The Macau Metro Monitor, May 17, 2011

 

 

MGM CHINA SETS PRICE RANGE FOR $1.5 BILLION HONG KONG IPO BusinessWeek

MGM China will offer 760MM shares at HK$12.36 to HK$15.34 a piece.  MGM China received orders covering all the stock offered to institutional investors on the first day of marketing the IPO, two people with knowledge of the matter said.  MGM China will hold a press conference for the share sale on May 19.


WYNN SEES STRONGER MACAU REVENUES AFTER GALAXY LAUNCH Reuters, Strait Times

Steve Wynn said he is confident Macau's gaming revenue growth for 1Q (+43% YoY) will be exceeded this year with the launch of Galaxy Macau.  Wynn added, "We just have a lot of VIP business, but we also have the best win per table in the general casino in Macau. Of all 33 casinos, the best general casino is the one you are standing on top of.  We are always looking for new opportunities. We feel that we are an Asian company and we are now mature. We are all grown up, we have a capital structure and balance sheet that allows us to go anywhere and do any project of any size easily."  Asked about losing market share to rivals, Wynn said he was not worried as the company's share of the money had grown.  Moreover, Wynn remarked that after seeing Galaxy Macau, it has made him rethink some of the designs for a new casino his company is planning to build.

 

ARISTOCRAT SECURES OVER 60% OF SLOTS AT GALAXY MACAU macaubusiness.com

Aristocrat announced it has well over 60% of the slot installations at Galaxy Macau.

 

CENTRAL SAVING ACCOUNTS TO GET MOP 6,000 IN SEPTEMBER Macau Daily Times

The government will inject MOP 6,000 into the saving accounts of ~320,000 qualified permanent residents.


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