Preview

Casino Industry

Powerful Essays
Open Document
Open Document
1668 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
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More on the Macau opportunity, this may be a little outdated: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

You May Also Find These Documents Helpful

  • Good Essays

    Cash Flows Case

    • 417 Words
    • 2 Pages

    The agreement includes certain covenants and provides for various events of termination. The agreement also requires that proceeds from securitization be used to pay down Company debt. During the current year, $11 million of receivables generated from sales of the Company’s inventory were sold under the agreement, and, therefore, are not reflected in the accounts receivable balance in the Company’s balance sheet. 3. Acquisition of Property, Plant, and Equipment on…

    • 417 Words
    • 2 Pages
    Good Essays
  • Best Essays

    Ldr 531 Week 5

    • 2421 Words
    • 10 Pages

    The late Don Ruiz was the former CEO who was responsible for setting the goal of 40% annual growth. Ruiz was excited about the IPO move, and saw the change as an opportunity to develop new strategies (University of Phoenix Scenario, 2005). Ruiz’s successor and siblings, together with the board of directors are strongly supporting the former CEO’s ideas, as both the board and the current ownership have a personal interest in the move. Both will gain a large sum of money if the IPO becomes a reality.…

    • 2421 Words
    • 10 Pages
    Best Essays
  • Satisfactory Essays

    Nevada Policy Scenarios

    • 451 Words
    • 2 Pages

    Suppose you had the opportunity to develop a new casino in Nevada. Write a 350- to 400-word…

    • 451 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    “Examining the effects of casinos after at least four years of operation. I find that positive change include : young adults moving back to the reservation fueling an 11.5 percent population increase ; adult employment increasing by 26 percent ; and a 14 percent decline in the number of working poor.In countries with or near a casino, the the employment-to-population ratio has increased and mortality has declined”.…

    • 548 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Foxwoods (Gambling)

    • 1401 Words
    • 6 Pages

    Foxwoods resort casino, the largest of its kind in North America and most profitable casino in the world, got its start with the advent of a bingo hall in 1987. At this time the Mashantucket Pequots secured a $4 million loan from the Arab American Bank. The bingo hall netted $13 million in gross sales and yielded $2.6 million in profits in its first year of operation. Today, the Pequots are one of the most respected Indian Nations in Native America because of the way they have used the success of Foxwoods Resort Casino to reconstruct their infrastructure and tribal homeland.…

    • 1401 Words
    • 6 Pages
    Good Essays
  • Best Essays

    Wynn Resorts is engaged in the design, development, financing, construction, and operation of hotel and casino resorts. The Company owns and operates two destination resorts: Wynn Las Vegas, on the Strip in Las Vegas, Nevada, and Wynn Macau, located in the Macau Special Administrative Region of the People’s Republic of China (Macau). Wynn Las Vegas is located on the north-east corner of the intersection of Las Vegas Boulevard (the strip) and Sands Avenue. It offers a nightclub, an ultra-lounge, a spa and salon, a Ferrari and Maserati automobile dealership, wedding chapels, an…

    • 4374 Words
    • 18 Pages
    Best Essays
  • Satisfactory Essays

    Swot Analysis Wynn, Ltd.

    • 388 Words
    • 2 Pages

    Opportunities: Because the majority of the United States’ gambling territories are dominated by its competitors Steve Wynn decided to take his newest venture and add on to China. The city of Macao was chosen as the new location for two Wynn gambling resorts, and in the first quarter of operation Wynn Macao outperformed both of the hotels located in Las Vegas with nearly 500m in revenue. The increasing amount of wealth in China will only prove to create more…

    • 388 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    With the subprime and the resulting global crisis, the revenue in the sector went down to 4.7% in 2008, with a continuous tendency for year 2009. Indeed, the gross gaming revenues compared to 2007 have kept decreasing since February 2008. Consequently the monthly revenue decreases became much more important as the crisis in the USA and the rest of the world had negative effects.…

    • 6574 Words
    • 27 Pages
    Powerful Essays
  • Good Essays

    The overall risk is low. Our company is a gaming equipment provider, which is really profitable for us because Macau is a regional gaming center with a strong tourism industry. Macau is the country that boasts her affluent gambling cultures. There are many people who go to casinos simply due to their desire to earn a lot of money while others have specific business-relevant reasons. Obviously, those places are vulnerable to natural disasters like typhoons and earthquakes since those catastrophes result in vast economic loss not only because it costs a lot to build casinos but also many people…

    • 916 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    Jimmy Fu and Moog, Inc

    • 660 Words
    • 3 Pages

    The proceeds of the sale are $89.125 million. This would increase stockholder’s equity and assets by the same amount. The company uses $84.5 million of…

    • 660 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    Gambling is the betting of money on a random outcome. It includes bingo, lotteries, some card games, slot machines and of course many other games that are played in casinos. It is what people consider a personal choice and a form of entertainment. People should not be denied an activity that they enjoy, legalizing gambling would bypass that statement; as for the regulating, addition to the age restriction, government should prevent fraudulent acts from taking place and protect the players.…

    • 681 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    n modern English, a casino is a facility which houses and accommodates certain types of gambling activities. Casinos are most commonly built near or combined with hotels, restaurants, retail shopping, cruise ships or other tourist attractions. There is much debate over whether or not the social and economic consequences of casino gambling outweigh the initial revenue that may be generated.[1] In the United States, many states are grappling with high unemployment and budget deficits and are now turning to legalizing casinos, often in places that are not tourist destinations. Some casinos are also known for hosting live entertainment events, such as stand-up comedy,concerts, and sporting events. Use of the word in the past, and modern use in some countries, does not necessarily involve gambling. The term "Casino" is of Italian origin, the root word being "Casa" (house) and originally meant a small country villa, summerhouse or pavilion. The word changed to refer to a building built for pleasure, usually on the grounds of a larger Italian villa or palazzo. Such buildings were used to host civic town functions – including dancing, music listening, and gambling.…

    • 1538 Words
    • 7 Pages
    Powerful Essays
  • Good Essays

    Venetian Macau

    • 594 Words
    • 4 Pages

    G I L L E S P I E case study Venetian, Macau architect Aedas (Macau) Ltd main contractor Hsin Chong Engineering (Macau) Ltd casino creation As a key contributor to the spectacular decorative theming of the Venetian Sands Casino complex in Macau, Gillespie has earned widespread acclaim for problem solving, professionalism and flawless workmanship in producing vast areas of the highest quality interior GRG decorative finishes.…

    • 594 Words
    • 4 Pages
    Good Essays
  • Better Essays

    International pressure group: Macau Govt. has set the 1:1 employment ratio between local and imported labor. This ratio requirement has prevented some large scale projects to accelerate their construction and operation program. The visit by the top US diplomat in last month indicates that they are pressuring Govt. to change the ratio and to assist them in hiring necessary workers to build and run the casinos.…

    • 1486 Words
    • 6 Pages
    Better Essays
  • Satisfactory Essays

    Genting

    • 471 Words
    • 2 Pages

    The history of Genting Highland’s casino is intertwined with the famous resort and the sole casino owner in Malaysia. Genting’s founder, Tan Sri Lim Goh Tong had a dream of building a world-class hill resort, and a part of that dream was the establishment of a casino that would rival any in Asia. On 28th April 1969, he submitted an application for a casino license to the Prime Minister Tunku Abdul Rahman. By sheer providence, a cabinet meeting was being held that very afternoon, and Tan Sri Lim Goh Tong’s application approved. To this day, the Casino de Genting is the first and only casino in Malaysia. Although the gambling license is issued by Finance Ministry, Casino de Genting still has to renew every three month since the license grant in year 1969 to a state gambling license under Pahang Entertainment Enactment Art.…

    • 471 Words
    • 2 Pages
    Satisfactory Essays