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WYNN RESORTS Ltd. agreed to pay a total of $2.4 billion to settle a lawsuit with Universal Entertainment Corp. over the forced redemption of the Japanese pachinko-machine maker’s 20% stake in the casino operator six years ago. (3-0)
Universal's 24.5m shares are worth $4.4b, a markedly lower number than the settlement. The market likes it here, hates it in Japan. (3-0)
If there was ever a sporting event that gets people involved with their money, it’s the NCAA Basketball Tournament, which is right around the corner. March Madness draws millions of Americans into pools, and it also draws them from far and wide into America’s casinos to place their bets on who they think will be this year’s champion. The sheer size of the tournament, and the number of games played, make it a favorite at all the top sports books. (12-0)
Galaxy Entertainment Group, one of the six major casino operators in Macau, reported better-than-expected earnings for 2017, thanks to rapid growth in its VIP and mass segments amid a gaming market recovery in the city.
Having reached near our PT of $80, we now see LVS as moving to new highs over the fallout of the Wynn black swan events. (3-0)
China is drafting a proposal to allow gambling on Hainan Island, people familiar with the talks said, in what would be an unprecedented move that could reshape gaming in China's territories and transform the economy of a strategic southern province. (1-0)
Welcome to Seeking Alpha's Stocks to Watch - a preview of key events scheduled for the next week. Follow this account and turn the e-mail alert on to receive this article in your inbox every Saturday morning. (2086-5)
A month has gone by since the last earnings report for Wynn Resorts, Limited (WYNN - Free Report) . Shares have lost about 15.4% in that time frame, underperforming the market. (3-0)
The company is betting big on its newly opened MGM Cotai to lure premium mass market consumers
The separation deal, which came into effect on February 15, comes a week after Wynn agreed to relinquish control of a minority stake in Wynn Resorts held by his ex-wife, ending a six-year court battle (3-0)
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. (4-0)
Grant Bowie says the new resort complements MGM’s existing Macau property, allowing the company to cater to the full range of travellers (5-0)
Macau: MGM Resorts opened its $3.4 billion casino resort in the Chinese-controlled territory of Macau on Tuesday, just days ahead of the Lunar New Year holiday, hoping to ride a boom in business in the world’s biggest gaming hub.
MACAU (Reuters) - MGM Resorts opened its $3.4 billion casino resort in the Chinese-controlled territory of Macau on Tuesday, just days ahead of the Lunar New Year holiday, hoping to ride a boom in business in the world’s biggest gaming hub.
Image of MGM Cotai in Macau from YouTube.MACAU, Feb 13 — MGM Resorts opens its US$3.4 billion (RM13.4 billion) casino resort in the Chinese-controlled territory of Macau today, just days ahead of the Lunar New Year holiday, hoping to ride a boom in business in the world's biggest gaming hub.