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Sales increased 20.2% to $825.2 million. Its earnings included a deferred tax benefit of $140.7 million. The adjusted earnings without the tax benefit were $1.11 per share. Analysts surveyed by Thomson Financial had expected 93 cents per share on revenues of $828.1 million.

Investors were clearly expecting the worst since shares dropped 8.2% to close at $91.59. Its shares continued to drop after hours, sliding 2.5%, or $2.29, to $89.30.

Wynn Macau generated revenues of $529.9 million, up from $352.5 million in the year-ago period. The property’s adjusted earnings before interest, taxes, depreciation, and amoritization (EBITDA) were $155.2 million as compared with $92.7 million to the year-prior quarter. In December, the Wynn Macau’s expansion was completed, with the addition of approximately 75,000 square feet of gaming space and 20,000 square feet of retail space including 11 new boutiques.

Meanwhile, Wynn Las Vegas had a property adjusted EBITDA of $81.8 million, as compared with $115.3 million in the second quarter of 2007. Revenue fell from slot machines and table games.

Casino magnate Steve Wynn is planning a secondary listing in Hong Kong, aiming to raise $3 billion to finance the expansion of his complex in Macau. (See “Wynn Resort Plan Not Yet A Winner In Macau”) The construction of Encore at Wynn Macau began in 2007 and is expected to be completed in the second half of 2010.

Now that the Filipino Poker Tour is on its last leg as I speak, the Asian Poker Tour is lingering on the sides. The whopping 1 million dollar even is sure to call all kinds of poker enthusiasts.

Buy-in for the said event is $2,500 with a guaranteed $1 Million in the bank. Participating countries are (Korea) Seoul, (China) Macau, (Philippines) Manila and Singapore. Surely all the top dogs in poker will represent their country with patriotic intensity.

One of the most successful Filipino poker players/ Promoter is also awaited in this colossal tournament would be the Philippines own Nick Galan. Being seen in all over the Philippines’ top poker tables and casinos, this poker juggernaut would surely test all the competitors.

Incase you can’t wait to play, there’s always an online service that is sure to cater to your needs. If you want to play against the best or just play try to visit Pokerstars.com, it sure would supply you with every possible poker game you can think of.

Galaxy Entertainment Group is understood to be making moves to capitalise on an eventual legalising of internet gaming in mainland China.

The Macau Daily cited Galaxy’s deputy director Francis Lui as stating: “Galaxy is very excited by this business opportunity…and we have established a foundation through an agreement with an internet cafe operator in China.”

Most forms of gaming – including online betting – remain illegal in mainland China, but Lui suggested the Chinese propensity for gaming could eventually merit a change in position from the government.

The companies said they stopped taking the ads years ago. The settlement was announced by Catherine L. Hanaway, the United States attorney for eastern Missouri, who said the investigation, conducted by her office, the Internal Revenue Service and the Federal Bureau of Investigation, dated to 2000. Negotiations have been going on for 12 to 18 months, she said.

Microsoft’s $21 million portion of the settlement includes a $4.5 million forfeiture, $7.5 million to be paid to the International Center for Missing and Exploited Children and $9 million in public service ads over a three-year period, starting next year.

The public service campaign will aim the message that online gambling is illegal at those of college age and younger.

“We’re hopeful that our educational campaign will stop young people from gambling before they start,” the company said. Yahoo’s $7.5 million share of the settlement includes a $3 million forfeiture and $4.5 million in public service ads over three years.

Google will pay $3 million. A spokesman, Jon Murchinson, said the ads were in sponsored links at Google.com and other Web sites that belong to its ad network. “While we did not admit any wrongdoing, the Department of Justice has advised that online gambling is illegal in the United States, and ads to promote it are improper,” he said.

Las Vegas Sands was the first foreign gambler allowed into China three years ago, and since its arrival Macau has exploded to become the world’s top casino destination.

The $2.4 billion Venetian aims transform Macau from a gambling stop for Chinese tourists to a vacation and business convention destination where a range of visitors can shop, watch shows and roll the dice.

Macau’s casinos raked in $6.95 billion in gambling revenue last year, while the Las Vegas strip made $6.69 billion are scattered across the territory, which comprises a peninsula connected to mainland China and the outlying Cotai island.

American billionaire Sheldon Adelson hopes his Venetian Macau Resort Hotel on Cotai will help launch a massive, concentrated resort area he calls the Cotai Strip, after its Las Vegas counterpart.

The Venetian Macau houses 3,400 slot machines with room to expand to 6,000 and more than 800 gambling tables. It has 3,000 rooms, a 15,000-seat sports arena, retail space for 350 stores, 1.2 million square feet of convention space, fine dining and a Cirque du Soleil-produced show.

Tags: The Venetian Macau, Macao Cotai Strip, Macau Casinos

The company’s Board of Directors also approved a program that will allow Wynn Resorts to repurchase up to $1.2 billion of its stocks and convertible bonds, which represents about 11 per cent of total market value.

Chief Executive Stephen Wynn said in a statement: “In light of this uncertainty in the marketplace, we have elected to open only a portion of our Wynn Macau expansion in the third quarter of 2007.”

He added that the company was closely monitoring new Macau developments such as Las Vegas Sands Corp’s Venetian Cotai and the MGM Grand Paradise, a 50/50 joint venture between MGM Mirage Inc. and Pansy Ho Chiu-king, daughter of Asian gambling tycoon Stanley Ho.

Tags: Macau Casino, Cotai Macau

AP, MACAU
Monday, Mar 05, 2007, Page 10

The Las Vegas Sands casino sits behind the Fishermans Wharf in Macau on Feb. 7. More casinos, malls, convention centers, resorts and thousands of hotel rooms are being built in the territory. PHOTO: AP

Chinese businessman Cao Yanglin let his lunch of slow-cooked beef rib with truffle puree and lemon cream sauce go cold as he talked about his gambling spree the night before at the baccarat tables in Macau — the world’s new epicenter for gambling.

The 58-year-old property developer said he won US$3,840 at the Las Vegas-style Wynn Macau casino hotel, where he was enjoying his noon meal. But he said he lost US$7,680 at the new Grand Lisboa, shaped like a giant Faberge egg covered in flashing lights.

The sting of losing so much money seemed to have faded for the smiling Cao, who resembled a TV anchorman with a deep voice, square jaw and dyed black hair. He was busy musing about the amazing changes sweeping China and how Macau would profit from the increasingly

wealthy Chinese who have a reputation for wagering more than Americans. [full story]
“My father was a railroad worker who never left the country,” said Cao, who is from the northern city of Tianjin, near Beijing. “But I’ve been to Macau more than 10 times and I’ve even been to Vegas. They need to have more baccarat tables there.”

Gamblers like Cao have helped the city bump off the Las Vegas Strip last year as the world’s gambling center. It raked in US$6.95 billion in gambling revenue, while the Strip made US$6.69 billion, regulators in both cities said.

Macau — the only place in China where casinos are legal — says it is just getting started. More casinos, malls, convention centers, resorts and thousands of hotel rooms are being built in the city of just over a half million residents.

Investors could be on the dream team of the global casino industry: MGM Mirage Inc, US tycoon Steve Wynn and Las Vegas Sands Corp head Sheldon Adelson. Also involved is James Packer, executive chairman of Australia’s biggest media and gambling company, Publishing & Broadcasting Ltd. For his part, Richard Branson, of Britain’s Virgin Group Ltd, has talked of investing in a casino resort.

The tycoons say they are certain that booming China will get even richer and millions of new gamblers will flood into the casinos. They plan to follow the same blueprint that successfully transformed Las Vegas from a seedy casino town to a global hot spot for dining, shows, conventions and shopping.

“Macau is the safest bet on Earth,” Wynn, who opened his US$1.2 billion casino resort last September, said. [full story]

tags: Macau casino, Macao casino, Wynn Macau Casino

The Grand Lisboa Casino in Macau attracts boards of gamblers from China who take few breaks, leading some to wonder if Las Vegas-style resort facilities hold any attraction to them. — AP

The 58-year-old property developer said he won US$3,840 ($5,800) at the Las Vegas-style Wynn Macau casino hotel, then lost US$7,680 at the Grand Lisboa.

But he was more interested in talking about how Macau would profit from the increasingly wealthy Chinese who have a reputation for wagering more than Americans.

‘I’ve been to Macau more than 10 times and I’ve even been to Vegas,’ said Mr Cao. ‘They need to have more baccarat tables there.’

It’s gamblers like Mr Cao who have helped Macau bump off Las Vegas as the world’s gambling centre.

The city raked in US$6.95b in gambling revenue last year, while the Las Vegas made US$6.69b, regulators in both cities said.

Macau says it’s just getting started. More casinos, malls, convention centres, resorts and thousands of hotel rooms are being built in the city, which has a population of just over 500,000.

RISKS

Casino operators say they’re certain that booming China will get even richer and millions of new gamblers will flood into the casinos.

They plan to follow the same blueprint that successfully transformed Las Vegas from a seedy casino town to a global hot spot for dining, shows, conventions and shopping.

‘Macau is the safest bet on Earth,’ US casino tycoon Steve Wynn, who opened his US$1.2b Wynn Macau resort in September.

But some analysts warn of risks.

China could suffer political upheaval an economic meltdown. New gambling resorts in Singapore and elsewhere in Asia could lure away visitors. Or the shoppers, convention attendees and families just might not show up as they did in Las Vegas.

‘I think things could get pretty ugly there pretty fast,’ said Mr Matt Hoult, a portfolio manager at ABN AMRO Asset Management. He predicts Macau is facing a glut in hotel rooms.

Macau’s dreary side is easy to find. Beautiful buildings are far outnumbered by drab apartment blocks. In the old casino district, streets are lined with small stores illuminated with headache-inducing lights crammed with gaudy jewellery.

In the late 1990s, gangs waged turf wars with drive-by shootings, kidnappings and car bombs that scared away tourists.

The violence mostly ended after the 1999 handover.

But the biggest change was the Chinese government ending Mr Stanley Ho’s 40-year monopoly and allowing foreign developers to move in. The newcomers have created a big new buzz that has produced spectacular growth numbers.

Gambling revenue has more than doubled to US$6.95b since 2002. Visitor arrivals hit a record high of almost 22 million last year.

Much of that extra money and tourist traffic is ending up in Mr Ho’s casinos.

‘We have an expression in Chinese,’ said machinist Wu Haihua as he gambled at Mr Ho’s Grand Lisboa.

‘When a business is good, the demand gets even bigger when more join in.’ full story

tags: Macau, Macau casino, Singapore casino

All doubts as to whether regulators in Macau want to embrace interactive gambling have been put to rest. The way to a regulated prosperous I-gaming industry in the special administrative territory is not entirely evident, but Jorge Costa Oliveira’s presentation at the Fifth Annual Pacific Congress on I-Gaming (PCIG) is a clear indication that the will is there . . . and it is strong.

Oliveira, who oversees legal matters for the Macau Gaming Commission, told an audience of 200 PCIG attendees that he is 100 percent behind the passage of I-gaming regulations and that it could happen within the next year or two. He also shared very clear objectives for moving forward with a regulatory model.

For starters, Oliveira sees no reason to reserve concessions for an exclusive licensee (as is the case now with MacauSlot being the sole licensed Internet betting operator). To the contrary, he stressed that they do not wish to impose a limit on the number of licenses issued. They do not, however, intend to ease regulations for the sake of expanding the field of qualified operators.

“We will not do it just to sell licenses,” he stressed in support of the board’s commitment toward a very high level of regulation.

Further to that, they will also employ proactive measures, including the setting of limits, to prevent social harm.

All of this amounts to a potential regime that bears many similarities to the U.K. approach, and Oliveira acknowledged this by crediting England for providing a viable model. Of importance in the international picture is the system’s establishment of an open market that knows no borders. This means Macau, under the plan outlined by Oliveira, would place no restrictions on where its online gambling licensees can offer their services. full story

tags: Macau, Macao, Internet gambling, Gambling license