Page 84 - Cotai News Today

Operator Welcome to the Wynn Resorts first-quarter 2021 earnings call. [Operator instructions] This call is being recorded. [Operator instructions] I will now turn the conference over to Craig Billings, president and chief financial officer. Sir, you may begin. Craig Billings -- President and Chief Financial Officer Thank you, operator, and good afternoon, everyone. On the call with me today are Matt Maddox and Marilyn Spiegel in Las Vegas. Also on the line are Ian Coughlan, Ciaran Carruthers,...

Macau casino operator Sands China Ltd hopes to launch its Londoner Court facility at its Londoner Macao casino resort on Cotai “in phases” before October Golden Week this year, said the firm’s president Wilfred Wong Ying Wai (pictured) in comments to the media on Tuesday. The Londoner Court is a 370-suite hotel facility on the site of the Londoner Macao, a revamped and rebranded version of the former Sands Cotai Central. The Londoner Macao had its first-phase launch on February 8, ahead o...

52-week low: $67.54 Company Overview Wynn Resorts operates luxury casinos and resorts. The company was founded in 2002 by Steve Wynn, the former CEO. The company operates four megaresorts: Wynn Macau and Encore in Macao and Wynn Las Vegas and Encore in Las Vegas. Cotai Palace opened in August 2016 in Macao, Encore Boston Harbor in Massachusetts opened June 2019, and various Vegas projects are currently under development. Additionally, we expect the company to begin construction on a new buildin...

Macau’s casino gross gaming revenue (GGR) during the recent five-day break encompassing the Labour Day holiday on May 1, was approximately MOP600 million (US$75 million) a day, suggested brokerage Sanford C. Bernstein, and JP Morgan Securities (Asia Pacific) Ltd in respective Monday notes. The period, referred to by some analysts as ‘May Golden Week’, although that term is not used by the Macau authorities, was “surprisingly golden” in GGR terms, said JP Morgan. The city’s estimated...

Macau casino operator SJM Holdings Ltd announced on Thursday that it would raise the equivalent of about US$198.4 million via notes denominated respectively in Hong Kong dollars and Macau’s own currency, the pataca (MOP). The notes will be listed on Macau’s fledgling bond market, the Chongwa (Macao) Financial Asset Exchange Co Ltd, which is also known locally as MOX. According to information on the exchange’s website regarding entities that have used its services, it is the first time an...

May 5, 2021 In Macau and local casino operator SJM Holdings Limited has reportedly announced that it expects to ‘soft launch’ its new Grand Lisboa Palace property before the end of June in advance of conducting a full third-quarter premiere. According to a report from Inside Asian Gaming, the Hong Kong-listed firm began work on the $5 billion Cotai Strip development in February of 2014 and hopes that the finished facility will provide stern competition to a host of nearby rivals including t...

Macau casino operator SJM Holdings Ltd expects to get up to 200 new-to-market live gaming tables for the opening of its HKD39-billion (US$5-billion) Grand Lisboa Palace gaming resort (pictured) on Cotai, a property the firm wants to open before the end of the first half. That is according to a Tuesday note from brokerage Sanford C. Bernstein Ltd, citing commentary from the casino group’s management following its first-quarter earnings filed that day with the Hong Kong Stock Exchange. “SJM h...

Macau casino operator SJM Holdings Ltd plans to raise fresh cash via senior notes denominated in the city’s own currency the pataca (MOP), as well as in Hong Kong dollars, and to list the notes on Macau’s fledgling bond market, the Chongwa (Macao) Financial Asset Exchange Co Ltd. It gave the information in a Wednesday filing to the Hong Kong Stock Exchange, where the group has its public stock listing. Macau – encouraged by China’s central government – has pledged to diversify its eco...

  Grand Lisboa Palace, a $5 billion undertaking, is seen complete on the Cotai Strip. The Macau resort is SJM Holdings’ largest investment ever. (Image: Inside Asian Gaming) During the company’s first-quarter 2021 earnings call this week, executives said they are still waiting on their table games allocation from the Macau Gaming Inspection and Coordination Bureau (DICJ). SJM said it wishes to have approximately 300 table games and more than 1,000 slot machines when it welcomes its first ...

Macau casino operator SJM Holdings Ltd reported a net loss of HKD647 million (US$83.3 million) for the opening three months of 2021, on net gaming revenue that fell by 29.2 percent in year-on-year terms. That compares with a loss of approximately HKD409 million in the prior-year period, according to a filing on Tuesday to the Hong Kong Stock Exchange. Total net revenue for the three months to March 31 was just below HKD2.48 billion, compared with HKD3.48 billion in the prior-y...