• It's Here!

    Etf Pro

    Get the big financial market moves right, bullish or bearish with Hedgeye’s ETF Pro.

  • It's Here

    MARKET EDGES

    Identify global risks and opportunities with essential macro intel using Hedgeye’s Market Edges.

THE MACAU METRO MONITOR, SEPTEMBER 18, 2013

GAMING REVENUE EXPECTED TO GROW DURING NATIONAL DAY HOLIDAY Macau Daily News

Gaming operators projected that visitor arrival in the coming National Day holiday will stay flat compared with last year while gaming revenue will go up about one-third compared to normal days.  VIP business operators are holding over a hundred rooms for their clients for the long holiday.  Wednesday is normally the quietest day in a week; gaming operators tend to provide privileges such as hotel accommodation and coupons for high-end guests in the mass market in order to maintain a steady number of guests across the week.

MACAU LEGEND PLANS TO RAISE $300 MILLION THROUGH SHARE SALE Bloomberg

Macau Legend Development Ltd plans to raise about $300 million by selling new shares next year to fund a redevelopment of Fisherman's Wharf.  It expects to spend about $1 billion to revamp its Fisherman’s Wharf and plans to fund that The casino operator expects to spend about $1 billion to revamp its Fisherman’s Wharf gaming complex in the world’s biggest gambling hub. It plans to fund that through the share sale and by raising debt, according to co-chairman Carl Tong. 

The proposed share sale may take place as soon as early 2014 and will raise Macau Legend’s public float to about 25-26% from the current 15-16%, Tong said.  The company is also looking to refinance existing syndicated loans through debt issuance.