Posts Tagged ‘Wynn Resorts’

Macau goes French, 2016 hot for Manila, India

January 5, 2016

Sands China’s Parisian Macao being a big hit tops predictions for Asian gaming in 2016. A move up for Manila, Indians as a target market, Asian operators moving into Europe and Disney Shanghai as a travel disruptor are other stories to watch as this year unfolds.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

Macau analysts differ after Golden Week gains

October 20, 2015

Macau casino revenue for the early October Golden Week exceeded expectations, but analysts disagree on whether that signals an end to 16 consecutive months of declines.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

Japan Billionaire Okada Crafts Philippine Casino Comeback

October 18, 2015

Pachinko king Kazuo Okada’s $2 billion Philippine casino dream looked like a nightmare. But the Japanese billionaire’s Manila Bay Resorts is now on track to open next year as the largest property in the Entertainment City casino district.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

Japan vote could boost casino hopes

December 13, 2014

Prime Minister Shinzo Abe wants to legalize casinos for Japan as part of his economic revival plan known as Abenomics. In Sunday’s vote, his Liberal Democratic Party’s expected landslide victory could give new momentum to casino legalization, but only if Abe and his allies begin convincing the Japanese public that casinos are a good idea.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

Macau casinos take record fall in October

November 7, 2014

With mainland China’s enduring anti-corruption drive spooking high rollers and mass market players facing a smoking ban in the same old casinos, Macau gaming revenue fell 23.2% in October from a year earlier, the largest drop on record. Third quarter casino company earnings held up, but gaming revenue appears heading its first down year since the industry was opened to competition in 2002.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

Rough September, worse October for Macau

October 10, 2014

Macau casino revenue took its worst tumble in five years in September. The outlook for October, traditionally one of the most lucrative months on the calendar due to China’s Golden Week holiday, is an even bigger fall.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

Activist/author Pisani sees a place for corruption

September 17, 2014

At TEDx Ubud earlier this month, author and activist Elizabeth Pisani highlighted how corruption fits into social and political contexts, a vexing issue for US companies doing business overseas. Pisani, who will also appear next month’s Ubud Writers and Readers Festival, also noted that corruption isn’t always about self-enrichment.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

Investors demand more from Macau

June 5, 2014

Macau’s gaming revenue rose 9.3 percent year-on-year in May to more than $4 billion, the fifth highest monthly total ever. That news sparked a brutal selloff in Macau casino shares, as investors expected even better numbers. Some analysts insist sellers are missing Macau’s big picture.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

Macau stocks: expect a wild ride

May 7, 2014

Wells Fargo Securities analyst Cameron McKnight forecasts a “choppy” year ahead for Macau casino stocks. But for true believers, sharp drops represent buying opportunities.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

Casino billionaires risk all in brawl

February 26, 2013

When elephants fight, the grass gets trampled, according to an Asian proverb. Most animals know how far to take a confrontation without lasting consequences, but occasionally, one or both elephants gets gored.

For more than a year, Wynn Resorts chairman and CEO Steve Wynn and Kazuo Okada, his one-time largest shareholder and key financier, have dueled publicly. Last week, Wynn shareholders voted to remove Okada from the company board of directors, a day after Okada, the chairman of Japan’s largest pachinko machine maker, resigned amid leveling a blistering attack on Wynn.

Behind the boardroom drama, billionaire casino developers Wynn and Okada have traded allegations of numerous shady dealings in Macau and Manila. Bribery accusations, in dollar amounts ranging from the hundreds to the hundreds of millions, figure prominently in their charges. As I wrote in Asia Times, inviting regulators to scrutinize the casino business is a risky bet. That’s especially true in this confrontation, where neither elephant seems inclined to back off.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.


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