Tag Archives: Macau

Wynn Doesn't Need Zynga Or Online Gaming: Las Vegas Casino Revenues Surge

By Agustino Fontevecchia, Forbes Staff

It’s a good time to be in the casino and hotel business, it seems, as posted solid underlying numbers in their second quarter earnings before the bell on Monday.  Interestingly, Wynn’s strength was derived from Las Vegas, which helped pushed margins even higher, as the Macau operations lagged.  Rising casino revenues in the City of Sin suggest Wynn doesn’t have much to lose from Zynga, with which the company was reportedly in talks with, bowing out of online poker and gambling. …read more

Source: FULL ARTICLE at Forbes Latest

Las Vegas Sands Scores In Macau And Singapore As Sin City Lags

By Agustino Fontevecchia, Forbes Staff

derived revenue growth from Macau and earnings power from Singapore in the second quarter.  Delivering a profit beat, the company run by billionaire Sheldon Adelson failed to top bottom-line expectations, and saw declining revenue in its Las Vegas operations, sending the stock down in post-market trading on Wednesday. …read more

Source: FULL ARTICLE at Forbes Latest

Zou Shiming's American dream

China’s two-time Olympic boxing champion Zou Shiming says it is his dream to make it big in the United States, ahead of just his second bout as a professional fighter.

The 32-year-old Zou, who is also a three-time amateur world champion, is attempting to become the first Chinese to make a name for himself on the global stage in a sport that was once banned in his country.

His US promoters Top Rank are hoping the flyweight’s fame in China will open the door to a lucrative and untapped market. But Zou, Olympic gold medallist in 2008 and 2012, is looking in the opposite direction.

“When I first started practising boxing, I saw from television that a lot of fights were held in the US, so it’s my dream to fight there,” he told AFP ahead of his fight on July 27 in Macau against Mexico’s Jesus Ortega (3-1, 2 KOs).

“In recent years, China is paying more attention to boxing. I will start by fighting in Macau or Asia first, and then hope finally I will have the chance to fight in the US.”

The softly spoken Zou, who is from Guizhou province, in southwestern China, says that he wants to be challenging for a world title “within one or two years”. But he admits that it is a steep learning curve.

He defeated the unknown Eleazar Valenzuela on points on his pro debut, in Macau in April, failing to deliver the knock-out that the 15,000-capacity CotaiArena was baying for.

“I think in the first fight I was very inexperienced,” he said at a promotional event in Hong Kong, speaking through a translator.

“Though I have been boxing for many years, it was mainly in the Olympics. I showed many shortcomings in the first fight, but I think that I will be more mature after more bouts.”

Zou has been hard at it in Hollywood with the highly respected trainer Freddie Roach, trying to iron out the habits he has picked up after so many years as an outstanding amateur.

“At the Olympics you can win the fight in a short time. But for the prizefight there are more rounds, so it is more demanding physically. The way you use your strength to punch — or be punched — makes it much more intense.”

Roach, who has trained some of the best in the business including Manny Pacquiao, admitted that he had been disappointed by Zou’s debut.

With the fight later this month set to be shown again live on state television in China, meaning a potential audience of hundreds of millions, Roach hopes Zou will showcase his speed to pull off a convincing win.

“I’ve seen an improvement in the last few months, but then I saw that last time and it didn’t show in the fight obviously. The crowd got to him,” said Roach.

“He didn’t perform as well as I thought he would. But we’ve had another great training camp and the sparring has been going well.

“I have told him that he needs to give the crowd what they want, …read more

Source: FULL ARTICLE at Fox World News

China's Secret Billion-Dollar Money Laundering Scheme

By Travis Hoium, The Motley Fool

Filed under:

The tiny Chinese enclave of Macau is the largest gambling region in the world, accounting for more than six times the gaming revenue of the Las Vegas Strip. Over the past decade it’s gone from a seedy mob-infested region to a glitzy entertainment capital. But beneath the shining lights, there’s a secret world of money laundering.

The downside of wealth in China
China is notoriously controlling over its currency; for example, citizens are allowed to take only $50,000 outside the country every year. For people looking to buy real estate overseas or even emigrate from China, that’s not a lot of money, so they need to find other ways to get money out. The result is money laundering, and it’s big business in Macau. The 2013 International Narcotics Control Report highlights that the gaming industry is highly dependent on loosely regulated gaming promoters and collaborators, known as junket operators, which allow for anonymity and create vulnerabilities for money laundering. The Macau government has indicated that the gaming industry is one of the primary sources of laundered funds in the region.  

In Macau, the very setup of gambling has made money laundering extremely easy. Gamblers borrow renminbi, China‘s currency, from a junket in Mainland China, and the junket gets chips from Macau casinos for the player to gamble with. Once the chips are played, the winnings are paid out in Macanese patacas, not the renminbi the player borrowed. A quick trip to a jewelry store, a pawn shop, or Hong Kong, and the money can be transferred into Hong Kong dollars and leave Macau.

No one knows how often this happens or how big the market is, but it’s estimated to be in the billions of dollars. Why would casinos need junkets at all if it weren’t for money laundering? In the rest of the world, casinos will lend money directly to a player, giving discounts or other benefits, instead of paying a junket a percentage of gaming revenue to bring in players.

Picking off easy targets
Chinese and Hong Kong law-enforcement officials have had a hard time bringing cases against major players, but there have been some recent convictions. Reuters recently reported the story of the conviction of Luo Juncheng, a 19-year-old high school dropout who opened a bank account in Hong Kong and began laundering money. Eight months later, he had moved $1.7 billion through, with 5,000 deposits and 3,500 withdrawals.

Reuters also tells the story of Lam Mei-Ling, an illiterate 61-year-old who suddenly began moving money through Hong Kong banks in 2002. By 2005, she had moved $876 million through the region, and she also ended up in jail.  

These are two low-level players in a vast money-laundering scheme. Advocacy organization Global Financial Integrity estimates that $2.83 trillion flowed out of China illegally from 2005 to 2011, and most of it went through Hong Kong, in Macau‘s backyard.

Even the U.S. Department of State has taken notice, calling for

From: http://www.dailyfinance.com/2013/04/13/chinas-secret-billion-dollar-money-laundering-sche/

Las Vegas Sands Continues to Fight Lawsuits

By Travis Hoium, The Motley Fool

Filed under:

Las Vegas Sands continues to fight off lawsuits, and a $328 million claim from a Hong Kong businessman is the latest to hit headlines. The Fool’s Erin Miller sat down with analyst Travis Hoium to see if this is a concern for the company going forward or something investors can look past. 

For many companies, successfully capitalizing on a booming Chinese economy is like winning the jackpot. That’s indeed the case for Las Vegas Sands, which made a big bet on Macau gaming about a decade ago that’s paid off in spades. The company is now looking to spread its empire further, but will it be able to replicate its prior successes? Learn about all these opportunities, and the risks they pose, in our premium report on Las Vegas Sands. Be sure to claim your copy today by clicking here.

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From: http://www.dailyfinance.com/2013/04/11/las-vegas-sands-continues-to-fight-lawsuits/

Macau Gaming Continues Rapid Growth

By Travis Hoium, The Motley Fool

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Macau gaming grew another 25% in March, keeping up the torrid rate of growth in the Chinese enclave. So who are the winners from this growth? Erin Miller sat down with analyst Travis Hoium to find out.

For many companies, successfully capitalizing on a booming Chinese economy is like winning the jackpot. That’s indeed the case for gaming company Las Vegas Sands, which made a big bet on Macau gaming about a decade ago that’s paid off in spades. The company is now looking to spread its empire further, but will it be able to replicate its prior successes? Learn about all these opportunities, and the risks they pose, in our brand new premium report on Las Vegas Sands. Be sure to claim your copy today by clicking here.

var FoolAnalyticsData = FoolAnalyticsData || []; FoolAnalyticsData.push({ eventType: “TickerReportPitch”, contentByline: “Travis Hoium“, contentId: “cms.31444”, contentTickers: “NASDAQ:WYNN, NYSE:MGM, NASDAQ:MPEL, NYSE:LVS”, contentTitle: “Macau Gaming Continues Rapid Growth“, hasVideo: “True”, pitchId: “9”, pitchTickers: “NYSE:LVS”, pitchTitle: “LVS Ticker Report”

Source: FULL ARTICLE at DailyFinance

Regional Gaming Expansion Comes With Risks

By Travis Hoium and Erin Miller, The Motley Fool

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Wynn Resorts  Caesars Entertainment , and Foxwoods are battling over a new gaming license in Boston. But is this the right move, considering the competition in regional gaming across the U.S.? In the following video, Erin Miller sat down with Travis Hoium to see who’s making the right moves in Boston and who’s biting off more than they can chew. 

Boston would be a nice addition, but Macau has grown to five and a half times the size of the Las Vegas Strip, and Wynn Resorts is perfectly positioned to capture the opportunity in the region. Is that reason enough for investors like yourself to consider investing in Wynn right now? The Motley Fool answers this question and more in our most in-depth Wynn Resorts research available for smart investors like you. Thousands have already claimed their own premium ticker coverage, and you can gain instant access to your own by clicking here now.

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Source: FULL ARTICLE at DailyFinance

iCAD Expands Global Distribution of the Xoft Electronic Brachytherapy System with Agreements in Asia

By Business Wirevia The Motley Fool

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iCAD Expands Global Distribution of the Xoft Electronic Brachytherapy System with Agreements in Asia and Russia

First Breast Cancer Patient Treated in Taiwan with Xoft’s Intraoperative Radiation Therapy

NASHUA, N.H.–(BUSINESS WIRE)– iCAD, Inc. (NAS: ICAD) , a leading provider of advanced imaging and radiation therapy technologies for the detection and treatment of cancer, today announced that the company has entered into strategic distribution agreements for its Xoft® Axxent® Electronic Brachytherapy System®with Chindex Medical Limited, in China, and with Medvio in Russia. The company also announced that the first breast cancer patient was treated with Intraoperative Radiation Therapy (IORT) using the Xoft System in Taiwan.

“We are delighted to expand our global reach through these agreements with Chindex and Medvio as they represent a significant growth opportunity for Xoft,” stated Ken Ferry, President and CEO of iCAD. “As we continue to expand our reach into key international markets like Europe and Asia, we are seeing growing interest in IORT among surgeons and radiation oncologists who want to offer patients advanced radiation therapy treatment options. We expect increased international demand will strengthen our global commercial strategy.”

“We are pleased to welcome iCAD’s Xoft System into the Chindex family of premium healthcare offerings,” said Elyse Beth Silverberg, Chief Operating Officer of Chindex Medical Limited. “Breast cancer is predicted to be the most common cancer in Chinese women over the next 20 years. The availability of the Xoft System in China, including Hong Kong and Macau, will provide our customers access to the most advanced cancer treatments, including Intraoperative Radiation Therapy for early stage breast cancer.”

The Xoft System is a mobile and flexible therapy option that can dramatically reduce treatment times. When used for IORT, the Xoft System delivers a single, prescribed, targeted dose of isotope-free radiation directly to the tumor cavity during surgery, thereby minimizing radiation to healthy tissue and organs and eliminating the need for a shielded treatment environment.

“The Xoft System is transforming the way radiation oncologists are treating cancer, significantly reducing treatment time which can lead to improved compliance. In Russia there is a significant patient population that has difficulty accessing care. With the Xoft System, physicians will be able to use advanced technology to treat many more patients with breast, endometrial and cervical cancer,” saidLori Woods, Principal,Medvio. “We’re excited to bring this breakthrough technology to physicians and patients in this rapidly growing market.”

…read more

Source: FULL ARTICLE at DailyFinance

Jacobs Receives Contract from Shell in Hong Kong

By Business Wirevia The Motley Fool

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Jacobs Receives Contract from Shell in Hong Kong

Expanding Delivery of Oil and Gas Expertise in Asia

PASADENA, Calif.–(BUSINESS WIRE)– Jacobs Engineering Group Inc. (NYS: JEC) announced today it has been selected by Shell Hong Kong Limited to provide detailed design for its Transformer Oil Project located at its Tsing Yi installation in Hong Kong.

Officials did not disclose the contract value, but noted that the work is being performed from Jacobs’ China operations in Hong Kong and Shanghai.

Under the terms of the contract, Jacobs is providing detailed design engineering services for modifications to Shell’s existing terminal facility to enable the processing of transformer oil. Shell’s 47-acre Tsing Yi installation supplies Hong Kong and Macau with a wide range of oil, gas and chemical products.

Jacobs Group Vice President Tom Quinn stated, “We are pleased to bring our oil and gas experience to this project, and to extend our global relationship with Shell in Hong Kong. Jacobs’ long-term relationship with Shell enables us to share best practices across their projects and geographies, and we look forward to leveraging these strengths to continue delivering value on this project and throughout the region.”

Shell is a global group of energy and petrochemicals companies operating in more than 80 countries and territories. Shell Hong Kong Limited is involved in a wide range of businesses, including retail, LPG, commercial fuel, lubricants, bitumen, aviation, marine and chemicals.

Jacobs is one of the world’s largest and most diverse providers of technical, professional, and construction services.

Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management’s current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our 2012 Form 10-K, and in particular the discussions contained under Items 1 – Business, 1A – Risk Factors, 3 – Legal Proceedings, and 7 – Management’s Discussion and Analysis of Financial Condition and Results of Operations. We do not undertake to update any forward-looking statements made herein.

…read more

Source: FULL ARTICLE at DailyFinance

Asia Entertainment & Resources Ltd. Announces 2012 Annual Cash Dividend

By Business Wirevia The Motley Fool

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Asia Entertainment & Resources Ltd. Announces 2012 Annual Cash Dividend

HONG KONG–(BUSINESS WIRE)– Asia Entertainment & Resources Ltd. (“AERL” or the “Company”) (NAS: AERL) , which operates through its subsidiaries and related promoter companies that act as VIP room gaming promoters, previously announced that its Board of Directors had authorized a regular semi-annual dividend of $0.12 per outstanding ordinary share each year after the release of the Company’s financial results for the six months ending June 30, and, for each year after the release of the Company’s year-end financial results, an amount per outstanding ordinary share equal to (i) 15% of the Company’s non-GAAP net income for the most recently completed fiscal year less the amount paid pursuant to the six month dividend, divided by (ii) the number of ordinary shares outstanding on the record date for such dividend (the “Annual Dividend”).

The Company today announces that the 2012 Annual Dividend will be $0.1024 per ordinary share. The dividend will be distributed to shareholders of record as of April 16, 2013, and payable on April 26, 2013.

About Asia Entertainment & Resources Ltd.

Asia Entertainment & Resources Ltd. is a holding company which operates through its subsidiaries and related promoter companies as a VIP room gaming promoter, and is entitled to receive all of the profits of the VIP gaming promoters from VIP gaming rooms. AERL‘s VIP room gaming promoters currently participate in the promotion of four major luxury VIP gaming facilities in Macau, China, the largest gaming market in the world. One VIP gaming room is located at the top-tier 5-star hotel, the Star World Hotel & Casino in downtown Macau, and another is located in the luxury 5-star hotel, the Galaxy Macau™ Resort in Cotai, each of which is operated by Galaxy Casino, S.A. Additional VIP gaming rooms are located at the Sands Cotai Central and City of Dreams Macau, both in Cotai.

Forward Looking Statements

This press release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. Forward looking statements are statements that are not historical facts. Such forward-looking statements, based upon the current beliefs and expectations of AERL‘s management, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements.

…read more

Source: FULL ARTICLE at DailyFinance

A Look At Singapore's Value To Las Vegas Sands

By Trefis Team, Contributor

The Singapore casino gaming market constitutes a little over 20% to Las Vegas Sands’ value making it the second biggest value driver for the company according to our estimates. The highest contribution comes from Macau while Las Vegas strip holds little value for the casino gaming giant. …read more
Source: FULL ARTICLE at Forbes Latest

Asia Entertainment & Resources Ltd. Announces Rolling Chip Turnover of US$1.53 Billion for March 201

By Business Wirevia The Motley Fool

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Asia Entertainment & Resources Ltd. Announces Rolling Chip Turnover of US$1.53 Billion for March 2013

HONG KONG–(BUSINESS WIRE)– Asia Entertainment & Resources Ltd. (“AERL”) (NAS: AERL) , which operates through its subsidiaries and related promoter companies that act as VIP room gaming promoters, today announced unaudited Rolling Chip Turnover (as defined below) for the month of March 2013 at the company’s VIP rooms in Macau was US$1.53 billion, down 13% year-over-year, compared to US$1.77 billion for the month of March 2012. This compares with a year-over-year increase in overall gross gaming revenue for Macau of 25% for March 2013. Win rate for the month of March 2013 was 2.19%.

For the first three months of 2013, AERL’s Rolling Chip Turnover was US$4.08 billion (an average of $1.36 billion per month), down 24% year-over-year, compared to US$5.38 billion (an average of $1.79 billion per month) for the first three months of 2012. Macau gross gaming revenue increased 15% for the first three months of 2013.

Rolling Chip Turnover for March 2013 improved 19.5% on a sequential basis compared to the $1.28 billion per month average for the first two months of 2013. Furthermore, Rolling Chip Turnover for the fourth quarter of 2012 averaged $1.34 billion per month, further indicating an improving trend from the trailing five month average.

The decline in Rolling Chip Turnover was attributable to the Company’s self-directed tightening of credit to agents due to its conservative view on the Chinese economy.

The Company’s VIP rooms are primarily focused on high stakes baccarat. Baccarat accounts for approximately 88% of total Macau casino winnings according to the Macau Gaming Inspection and Coordination Bureau (DICJ). In Macau, two remuneration methods are used to compensate VIP room gaming promoters. On a fixed commission basis, VIP room gaming promoter revenues are based on an agreed percentage of Rolling Chip Turnover. On a win/loss split basis, the VIP room gaming promoter receives an agreed percentage of the “win” in the VIP gaming room (plus certain incentive allowances), and is required to also bear the same percentage of losses that might be incurred. Compared to the fixed commission basis, the win/loss split basis subjects the VIP room gaming promoter to the risk of losses from the gaming patron’s activity and greater volatility.

As of September 1, 2012, all AERL VIP rooms are on a revenue sharing remuneration model.

Definition of Rolling Chip Turnover
…read more
Source: FULL ARTICLE at DailyFinance

One Stock to Sell Today

By Matt Thalman, The Motley Fool

Filed under:

Today, the Motley Fool‘s Consumer Goods Analyst Isaac Pino, and Motley Fool contributor Matt Thalman discuss one sock to sell today.

Shares of Caesars Entertainment are up more than 56% in just the last month. The likely culprit for the massive run-up is the increased attention the company has received due to the legalization of gambling online in certain states over the past few months.

While Caesars could possibly see increased revenue from online gambling, the company has a massive pile of debt, and limited growth options besides online.

Some of the casinos that have also aligned themselves to benefit from online gambling, but have better growth opportunities than Caesars, are MGM Resorts International and WYNN Resorts . One casino which hasn’t laid any bets on the Internet, but still has solid growth ahead of itself, is Las Vegas Sands .

More foolish insight

For many companies, successfully capitalizing on a booming Chinese economy is like winning the jackpot. That’s indeed the case for gaming company Las Vegas Sands, which made a big bet on Macau gaming about a decade ago that’s paid off in spades. The company is now looking to spread its empire further; but will it be able to replicate its prior successes? Learn about all these opportunities, and the risks they pose, in our brand new premium report on Las Vegas Sands. Be sure to claim your copy today by clicking here.

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Source: FULL ARTICLE at DailyFinance

Wynn Takes Another Swing at Boston Gaming

By Travis Hoium, The Motley Fool

Filed under:

Wynn Resorts is taking another swing at the Boston gaming market, proposing a $1.5 billion resort in Everett, Mass. The lot is an old Monsanto Chemical site on the river just north of downtown Boston. What we know right now is that the resort would be called Wynn Everett, it would have about 550 hotel rooms, water taxis to the airport and downtown, and according to Steve Wynn it will be family-friendly.  

This isn’t the first attempt at gaming in greater Boston for Steve Wynn. A plan to build near Foxboro Stadium was shot down by residents and he had to quickly regroup to submit an application for this new resort by the Jan. 15 deadline.

The other big competing bid is coming from Suffolk Downs and Caesars Entertainment . The group wants to build a casino at Suffolk Downs in East Boston, a similar distance to downtown as Wynn’s proposal. Like Wynn, this is partly a revitalization project to bring more traffic and excitement to Suffolk Downs.  

A third bid for Boston gaming will come from the owners of Foxwoods Resort & Casino and David Nunes. The project would be located in Milford, but little else is known publicly at this point.

A big market waiting to be tapped?
The expansion of gaming in the U.S. has piqued the attention of Las Vegas‘ normal residents. Las Vegas Sands built a casino in Bethlehem, Pennsylvania that has helped drive the state into the No. 2 position nationally, making a tidy profit in the process. Boston may be even more lucrative the proposed sites so close to the city.

The state gambling commission isn’t expected to award the casino license until February, so it’ll be a long wait for those who applied. For Wynn, the resort would be an incremental positive, but the big prize is in Macau. At Caesars, this would be a highlight in the company’s expansive non-Las Vegas properties, but I’m not sure how the company will fund another billion-dollar project with its current debt load.

Macau has grown to five-and-a-half times the size of the Las Vegas Strip, with $33.6 billion of gaming revenue in 2011, and Wynn Resorts is perfectly positioned to capture the opportunity in the region. Is that reason enough for investors to consider investing in Wynn right now? The Motley Fool answers this question and more in our most in-depth Wynn Resorts research available for smart investors like you. Thousands have already claimed their own premium ticker coverage, and you can gain instant access to your own by clicking here now.

var FoolAnalyticsData = FoolAnalyticsData || []; …read more
Source: FULL ARTICLE at DailyFinance

More Confirmation That Google Has Won the AdWords Trademark Battles Worldwide

By Eric Goldman, Contributor

I’ve repeatedly asserted that the trademark battles over keyword advertising are near the end.  As further evidence of that, this week Google ($GOOG) liberalized its international trademark policy for advertising via AdWords.   Previously, Google allowed trademark owners to block advertisers from bidding on their trademarks in Australia, Brazil, China, Hong Kong, Macau, New Zealand, South Korea, and Taiwan.  Now, Google has reversed its policy in those countries, meaning that (as Google told me) “Google will no longer restrict advertisers from bidding against trademark keywords, worldwide.”  (Google had previously liberalized its trademark policy in most other countries in 2010).  Google will maintain regional differences in restrictions on when trademark owners can block their trademarks from appearing in the ad copy. …read more
Source: FULL ARTICLE at Forbes Latest

Asia Entertainment & Resources Ltd. to Announce Full Year 2012 Results on Wednesday, March 27, 2013

By Business Wirevia The Motley Fool

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Asia Entertainment & Resources Ltd. to Announce Full Year 2012 Results on Wednesday, March 27, 2013

HONG KONG–(BUSINESS WIRE)– Asia Entertainment & Resources Ltd. (“AERL“) (NAS: AERL) , which operates through its subsidiaries and related promoter companies as a VIP room gaming promoter, today announced that it will report its full year 2012 results before the market opens on Wednesday, March 27, 2013.

AERL will conduct a conference call to discuss the financial results on that day at 10:00AM EDT/10:00PM Macau. To participate, please dial one of the following numbers at least 10 minutes prior to the scheduled start of the call:

1-888-329-8893 (United States/Canada)
10-800-714-0940 (North China)
10-800-140-0915 (South China)
800-968-149 (Hong Kong)
800-101-1739 (Singapore)
0800-404-7655 (United Kingdom)
1-719-325-2491 (Other International)

Interested parties may also access the live call on the Internet at www.aerlf.com (select Events and Presentations). Following its completion, a replay of the call can be accessed on the Internet at the above link or for one week by calling either 1-877-870-5176 (U.S. callers) or 1-858-384-5517 (International callers) and providing conference ID 5824580.

About Asia Entertainment & Resources Ltd.

AERL is a holding company which operates through its subsidiaries and related promoter companies as a VIP room gaming promoter, and is entitled to receive all of the profits of the VIP gaming promoters from VIP gaming rooms. AERL‘s VIP room gaming promoters currently participate in the promotion of four major luxury VIP gaming facilities in Macau, China, the largest gaming market in the world. One VIP gaming room is located at the top-tier 5-star hotel, the Star World Hotel & Casino in downtown Macau, and another is located in the luxury 5-star hotel, the Galaxy Macau™ Resort in Cotai, each of which is operated by Galaxy Casino, S.A. Additional VIP gaming rooms are located at the Sands Cotai Central and City of Dreams Macau, both in Cotai.

Asia Entertainment & Resources Ltd.
James Preissler, 646-450-8808
preissj@aerlf.com
or
ICR
William Schmitt, 203-682-8294
william.schmitt@icrinc.com

KEYWORDS:   Macau  Asia Pacific  Hong Kong

INDUSTRY KEYWORDS:

The article Asia Entertainment & Resources Ltd. to Announce Full Year 2012 Results on Wednesday, March 27, 2013 originally appeared on Fool.com.

Try any of …read more
Source: FULL ARTICLE at DailyFinance

Chinese Businessman's Detention May Have Macau Link, Newspaper Says

By Russell Flannery, Forbes Staff

The detention of the chairman of one of China’s largest private-sector businesses may be linked to a gambling-related case in Macau, the Chinese-language 21st Century Daily Business Herald reported today, citing unnamed, knowledgeable people in the company.  It didn’t provide any details. …read more
Source: FULL ARTICLE at Forbes Latest

Las Vegas Sands Winning Bet Comes From Doubling Down In Macau

By Trefis Team, Contributor

A little less than 60% of Las Vegas Sands’ value comes from its operations in Macau, which has a gaming market almost five times the size of Las Vegas and is still growing. The U.S. gaming and casino companies are looking to accelerate their expansion in this region as the Las Vegas strip becomes saturated. Compared to its peers, Las Vegas Sands is doing better in Macau which is evident from its results and the growing contribution of Macau in the company’s overall profits. …read more
Source: FULL ARTICLE at Forbes Latest

A Brief History of the Gaming Industry

By Alex Planes, The Motley Fool

Filed under:

On this day in economic and financial history…

The rich silver mines of Nevada withered as the Great Depression dragged on, leaving the desert state in dire straits as its people picked up and moved in search of elusive opportunities. The Nevada legislature, in a desperate bid to attract fresh capital to its sparsely populated state, finally legalized gambling on March 19, 1931. It was a decision that would have a lasting impact on the state’s character and composition and that continues to affect the global gaming industry to this day.

Within two months, the Meadows Club casino (appropriately named, as “Las Vegas” is Spanish for “the meadows”) opened in Las Vegas. It caught fire and was gone from Vegas by 1942, by which point the city’s famous Strip was taking shape with the construction of the Last Frontier and El Rancho Vegas. After the war, a growing American middle class helped give rise to a number of Vegas gaming icons, including the Sands (opened in 1952 and since replaced by the Venetian Sands flagship casino of Las Vegas Sands after its acquisition by a Sheldon Adelson-led investment group), the Desert Inn (opened in 1950 and the site of Wynn Resorts‘ flagship casino since 2005), and the Riviera (opened in 1955 and still in operation).

MGM Resorts‘ Mirage, which cost more than $600 million to build and which was financed by Wall Street junk bonds at the height of the Drexel Burnham Lambert era, ushered in the era of the modern megacasino when it was completed in 1989. This 100,000 square-foot, 3,000-plus room edifice pushed other casino operators to demolish old landmarks to make way for properly competitive megacasinos of their own. Total room inventory in Las Vegas has more than doubled since the Mirage’s completion to nearly 150,000 rooms as of 2009. That year, despite a deep recession, more than 36 million people visited the Las Vegas region to spend nearly $9 billion on gaming activities — a rate of just more than $240 per person.

Five years after the crash began, Nevada has still not recovered its to pre-recession levels. From 2007 to 2012, the total statewide room inventory increased from 178,000 rooms to 195,000 rooms, but total visitor volume dropped by 5%, airport traffic declined by 13%, and both gross gaming revenue and the average daily rate per person dropped by more than 15%. However, the Las Vegas-based gambling industry had long since expanded internationally, particularly to Macau, which generated a collective $38 billion in gaming revenue across 35 casinos in 2012 versus Nevada’s roughly $11 billion in gaming revenue — much of which comes from more than 100 casinos in Las Vegas alone.

For many companies, successfully capitalizing on a booming Chinese economy is like winning the jackpot. That’s indeed the case for gaming company Las Vegas Sands, which made a big …read more
Source: FULL ARTICLE at DailyFinance

The Philippines Jump Into Gaming

By Travis Hoium, The Motley Fool

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The first of four major resorts has opened in The Philippines, and it’ll be an important indicator of how gaming can grow outside of Singapore and Macau. Japan, Korea, China, and others are looking at expanding gaming, and this will be a look at whether they’ll dilute other gaming markets. 

Alison Southwick sat down with analyst Travis Hoium to see how Melco Crown will be affected (as its resort is built in The Philippines) as well as the impact on Asian rivals. 

Melco Crown is often a forgotten company in gaming, but it has tremendous upside from Studio City and its partnership in the Philippines, which could more than double the company’s revenue base. This being a more speculative investment, is it worth the risk for smaller investors? The Motley Fool answers this question and more in our most in-depth Melco Crown research available for smart investors like you. Thousands have already claimed their own premium ticker coverage, and you can gain instant access to your own by clicking here now.

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Source: FULL ARTICLE at DailyFinance