Vegas   Macau   AC   Reno   |   Board   Photos

Grain of Salt Dept: Macau Sale Rumors

We've been hearing a rumor that one of the largest joints in Macau is currently being shopped around. Again, this is a rumor, and because of this we're not going to mention any names unless we get a second opinion confirming the matter.

Unlike Las Vegas, selling casino assets in Macau is restricted to current gaming concession holders. Possible scenarios for sale include being bought out by an existing partner, selling to a current concessioner, or selling to an outside buyer who then strikes up an operational deal with a concessioner (a la MPEL's deal to operate Macao Studio City.)

If this sale is to take place, I see it more as selling off the hotel operations but keeping the casino, sorta like selling shopping promenades to independent operators - a la Taubman deal at MCS and various deals for the Grand Canal Shoppes at both Venetians.

If you've got some inside skinny, feel free to drop a dime.


Comments & Discussion:

All that makes sense is the MGM. I think I heard a few months ago that the management shake-up was preparation for a sale.

I hasten to add that its pretty much speculation, but fits even more so in this economy and given TI got sold and the rumors about Bellagio and other MGM properties.

My Stanley Ho World Domination theory is coming true.
Avenida do Infante 50 is his address????
Patsy will buy out MGM - for daddy
Lawrence stuffed up Crown - for daddy
Venetian is also full of Ho's
Soon it will be all his again.

Press Reports from Australia


James Packer sells up family fortune....

JAMES Packer is liquidating his billionaire lifestyle as ongoing financial problems continue to hammer his personal fortune.

The Sunday Telegraph reports that following a rough year in which the value of his personal assets were halved, Mr Packer has put his luxury yacht the Z Ellerston up for sale on the European market, has pushed back the delivery of a $60million private Boeing jet and is yet to finalise the construction of a backyard pool and leisure facility at Ellerston, the family property near Scone......

maybe a few cheap casinos going on the chopping block as well?

it was mentioned in todays Australian Finacial Review p24 the Packer may be looking at getting "Out" of Macau VIA an asset swap with Harrahs....

It didnt say too much more.

Sunday, 08 February 2009
Macau casino tycoon, Stanley Ho, has lost 89 percent of his fortune and now only has around eight billion patacas and is listed as the last billionaire from Hong Kong in the American magazine Forbes, according to the Portuguese News Agency

Lost fortune? We're printing money, claims Macau casino tycoon
3 hours ago

HONG KONG (AFP) — Macau gaming magnate Stanley Ho has ridiculed a magazine article that claimed his personal fortune dropped 89 percent in the past year, insisting his casinos were "printing money," a report said Monday.

Forbes magazine last week said Ho's fortune had dropped from nine billion dollars (64.8 billion Hong Kong) to one billion dollars, mainly due to a disappointing listing of his gaming firm Sociedade de Jogos de Macau.

"Our casinos are the equivalent of printing money. We are printing every day, how could we be getting poor?" Ho said, according to the South China Morning Post.

"I suppose I should thank them (Forbes) for this, since now when you ask me to give donations, I don't have to donate so much," he said. "Those who want to kidnap me also don't need to think about it any more. I have no money."

The nephew of one of Asia's first tycoons, Ho made his first fortune smuggling luxury goods across the Chinese border from Macau during World War II, before securing the only gaming licence in the then-Portuguese colony in 1962.

He went on to run transport businesses and a racetrack, making him one of Asia's richest men. Along the way, the keen ballroom dancer cultivated a playboy lifestyle, taking four wives and fathering at least 17 children.

Who Said MacauTripping isnt Fair and Balanced

Leave a Comment:

Comments are closed