Asia News - Page 17

It makes sense that the region — the only location in China with casinos — is creating more gaming industry billionaires than Las Vegas.

CEO Keith Smith used a fourth-quarter conference call Wednesday to express Boyd Gaming’s interest in the potential Japanese casino market.

Rolling Chip Turnover for February 2014 at the company’s VIP rooms in Macau was US$1.73 billion, up 34% year-over-year, compared to February 2013.

Casinos in Macau collected $4.8 billion from gamblers attracted to the market for the Chinese New Year celebration in February.

February 2014 was a record month for Macau, with an astonishing 40 percent rise in revenue.

The state Supreme Court ruled Thursday that the Las Vegas Sands, headed by Sheldon Adelson, does not have to give confidential company information to Steven Jacobs, the fired former president of Sands Macau because the matter already was decided in district court.

Adelson says Las Vegas Sands are ready to invest in casino in Japan.

Both markets were far behind Macau, the world’s largest gaming destination, which produced a record $45.2 billion in gaming revenues last year.

The Macau casino market ended 11 straight months of double-digit gaming revenue increases in January and recorded its lowest single-month growth rate since October 2012.

“The numbers as usual speak for themselves,” Steve Wynn, chairman and CEO of Wynn Resorts, told analysts in a conference call.

Buoyed by a 28 percent increase in revenue from its Macau subsidiary during the fourth quarter, the casino operator grew profits by 32.8 percent companywide for the three-month period ended Dec. 31.

Analysts and gaming leaders consider it a foregone conclusion that Japan, after years of toying with legalizing casinos, will finally approve a gaming bill this spring.

A bomb exploded today killing 14 people at an illegal gambling den in China.

Steve Wynn will continue to serve as CEO and chairman of Wynn Macau.

Growth was slightly higher than the 13 to 17 percent estimates of six analysts.

Bally's Titanic video slot wins awards in four categories at Macao Gaming Show.

First Paramount Holdings are rumoured to be close to signing a partnership deal with Okada that would give stake in Manila Bay casino.

Genting plans upgrades to properties that include a theme park.

Analysts predict 20 percent rise in revenue for Macao in 2014.

Wells Fargo Securities gaming analyst Dennis Farrell Jr. said Las Vegas Sands and Wynn Resorts have the best credit profiles of any of the major casino operators, primarily because of their wholly owned Macau operations.