Casino Industry
Find out why the Macau gambling scene is so important
-The company intends to use the proceeds from this sale to pay off part of their debt
-“The stock has traded significantly higher since the announcement of the deal, but we believe that this is a huge missed opportunity for the company in a new, booming market and will hurt the company over the long-term as competition continues to expand in this area” (2).
-Caesars is the largest casino operator in the U.S
-Properties include: Las Vegas, Atlantic City, Indiana, Louisiana, Mississippi, and several other states
More on the Macau opportunity, this may be a little outdated:
-Only major casino company without a location Macau
-“Caesars bought the 175-acre site in 2007 for $578 million, with plans to develop a hotel and casino, but the company did not apply in the early 2000s for one of the limited number of gambling licenses in Macau, and it never gained a gambling concession from the Macau government” (2)
-“As of July 31, 2013, growth in Macau has increased to over 20% on a year over year basis boosted by an increase in the number of Chinese visitors to the country’s only legal casino gambling hub. July’s 29.5 billion patacas ($3.7 billion) revenue was the third strongest figure this year, according to government data, as more middle-class gamblers visited Macau, eclipsing the growth in the number of high rollers. The slowdown in China’s economic growth has kept away some wealthy customers, who often spend 1 million yuan ($160,000) per bet, but it failed to push away Macau’s appeal for China’s rapidly expanding middle-class and their higher disposable incomes” (2)
→what are pacatas
Why Maccau Is Attractive for Casino Industry
-The number of visitors to Macau rose 4.2 percent during the first half of the year (in 2013)
-“Visitors form mainland China, who account for two thirds of the total numbers, soared 20 percent in July year over year numbers. High rollers account for about 70 percent of gaming
-The company intends to use the proceeds from this sale to pay off part of their debt
-“The stock has traded significantly higher since the announcement of the deal, but we believe that this is a huge missed opportunity for the company in a new, booming market and will hurt the company over the long-term as competition continues to expand in this area” (2).
-Caesars is the largest casino operator in the U.S
-Properties include: Las Vegas, Atlantic City, Indiana, Louisiana, Mississippi, and several other states
More on the Macau opportunity, this may be a little outdated:
-Only major casino company without a location Macau
-“Caesars bought the 175-acre site in 2007 for $578 million, with plans to develop a hotel and casino, but the company did not apply in the early 2000s for one of the limited number of gambling licenses in Macau, and it never gained a gambling concession from the Macau government” (2)
-“As of July 31, 2013, growth in Macau has increased to over 20% on a year over year basis boosted by an increase in the number of Chinese visitors to the country’s only legal casino gambling hub. July’s 29.5 billion patacas ($3.7 billion) revenue was the third strongest figure this year, according to government data, as more middle-class gamblers visited Macau, eclipsing the growth in the number of high rollers. The slowdown in China’s economic growth has kept away some wealthy customers, who often spend 1 million yuan ($160,000) per bet, but it failed to push away Macau’s appeal for China’s rapidly expanding middle-class and their higher disposable incomes” (2)
→what are pacatas
Why Maccau Is Attractive for Casino Industry
-The number of visitors to Macau rose 4.2 percent during the first half of the year (in 2013)
-“Visitors form mainland China, who account for two thirds of the total numbers, soared 20 percent in July year over year numbers. High rollers account for about 70 percent of gaming