Hints and tips:
...Macau’s gambling licences for current operators Sands China, Wynn Macau, MGM China, Galaxy Entertainment, SJM Holdings and Melco Resorts will expire at the end of the year....
...Matt Maddox, head of Wynn Resorts casinos, also announced that he planned to depart in January....
...On that list are former Goldman executives Gary Cohn and Harvey Schwartz, former JPMorgan banker Matt Zames and current JPMorgan chief financial officer Marianne Lake....
...poorly positioned to respond creatively to the challenge, for example, by enriching the casino experience with shopping, dining or entertainment options in the manner of Las Vegas operators such as Steve Wynn...
...He bought Picasso’s ‘Le Rêve’ from casino mogul Steve Wynn last year for $155m, only after it was repaired following an incident when Mr Wynn put his elbow through the canvas....
...Gary Silverman is the FT’s US national editor. To comment on this article, please email magazineletters@ft.com...
...Steve Wynn, in a hurry to expand his mega-casino Wynn Resorts empire across North America and Macau, has an ambivalent attitude to online gambling....
...That work was subsequently revealed to have been bought by gambling mogul Elaine Wynn, ex-wife of Wynn Resorts’ Steve Wynn....
...Then, early this spring, casino magnate Steve Wynn paid $70m for an almost 11,000 sq ft penthouse duplex at the top of the Ritz-Carlton Hotel at 50 Central Park South....
...Gary Pinge, analyst with Macquarie, questions whether people able to afford a bet of HK$1,000-$2,000 per hand are really part of the premium mass market....
...“A $4bn investment on a VIP-centric property that opens its doors four years from now is a big bet on China’s VIP market and the fact that it will continue its strong growth rate,” said Gary Pinge, regional...
...Vegas (via the Wynn Resorts group)....
...Wynn Macau got off relatively lightly with a less than 6 per cent drop....
...Gary Pinge, an analyst at Macquarie, says Asian regulators are paying more attention to Singapore – and not the bigger Chinese territory of Macao – as it has showed that the industry can coexist with tight...
...Gary Taylor, of Citigroup, said Medicare-exposed companies could suffer revenue squeezes as healthcare spending becomes a target of government spending cuts....
...Steve Wynn, the gaming mogul who reshaped Las Vegas in the 1980s, ushering in the era of vast, resort casinos, briefly formed an alliance with PokerStars to push for legalisation....
...One had gone to Mr Ho’s Sociedade de Jogos de Macau, the others to MGM Mirage’s US rivals, Las Vegas Sands and Wynn Resorts....
...“The substantial acceleration [after the] Wynn opening has been exclusively driven by VIPs,” Grant Chum and Gary Ngan, UBS analysts, wrote in a research report on Tuesday....
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