MACAU’S CASINO RECEIPTS RISE 52% IN SEPTEMBER macaunews.com.mo
In September, the casino industry’s gross receipt hit MOP10.8 billion (US$1.35 billion). The figure represents a year-over-year increase of 52% for September. In the first nine months of the year, the casino industry’s gross receipts amounted to approximately MOP83 billion (US$10.38 billion), a year-over-year decrease of 2%.
In terms of market share, SJM remains number one, taking 30% market share in September. LVS had 20% of gross gaming receipts, MPEL had 17%, and Wynn had 15%. Galaxy and MGM took market share of 10% and 8%, respectively.
STANLEY HO WINS BID TO END SISTER’S PLEA OVER SHARE DIVIDENDS scmp.com
Stanley Ho, who remains in hospital following brain surgery, yesterday won in his bid to strike out a petition from his sister over the payment of share dividends from his company, Sociedade de Turismo e Diversoes de Macau. The Court of First Insurance yesterday struck out Winnie Ho Yuen-ki’s petition on the grounds that she had launched her protest via an improper “vehicle”.
Winnie Ho alleged in her petition that they had breached their duties of good faith and loyalty towards Shun Tak Holdings and failed to cause it to pursue STDM for proper payment of dividends. She sought an order to direct Shun Tak to start litigation against STDM to recover dividends. The judge held in her judgment that Winnie Ho should have sued STDM directly as a shareholder of the company.
WYNN DEBUT MAY DEAL INVESTORS A BUM DEAL scmp.com
The South China Morning Post outlines some of the negative sentiment surrounding Wynn’s Hong Kong trading debut tomorrow. Many commentators see the offering as being overly expensive when “compared with other Macau shares”.
In terms of the Macau gaming industry, concerns include “Beijing's fluctuating travel policies” and a risk that the recent revenue boost in Macau has been partly due to “a honeymoon period because Macau's new chief executive takes office in December”.
