Supposed Borgata bidder identified, Macau revenue magnified
When MGM Resorts’ sale of the dirt under Atlantic City’s Borgata Hotel was approved last week, MGM also revealed that it had a bidder for its 50% stake in the actual building. While the true identity of that bidder has yet to be confirmed, sources believe it to be Leonard Green & Partners LP, a LA-based buyout firm which manages about $9B in assets. Boyd Gaming, who own the other 50% stake in the Borgata, have right of first refusal on the sale, and are said to be still considering their options. The sale is expected to generate around $250M, which sounds like a lot, until…
On the other side of the world, Macau’s year-to-date gross casino revenues have risen to almost $16.7B. For those of you keeping score at home, that’s already more than was recorded in all of 2009, representing a year-on-year growth tally of 60.1%. Baccarat and VIP baccarat accounted for some 90% of revenues, slots brought in around 5%, and the sum total of horse and greyhound racing, Chinese and instant lotteries, plus football and basketball lotteries added less than 1% to the bottom line. What can they say? In Macau, baby got baccarat.
If you have any further information related to this story that you would like to share with us privately please click here.
Can't get enough CalvinAyre.com? Follow us on Twitter and Facebook, then you'll never miss out on the latest gaming industry news.
Views and opinions expressed are those of the Author and do not necessarily reflect those of CalvinAyre.com
Loading ...
Pingback: Less staff at Borgata, more tables at Sands Bethlehem