CASINO

Melco Crown preparing new finance; Wynn shareholder dispute gathers pace; APT Cebu satellites announced

TAGs: asian poker tour, Macau, melco crown, Wynn Resorts

melco crown entertainmentAsian-facing casino business Melco Crown Entertainment is preparing to take on more debt in order to finance its newest project in Macau. Various reports state the firm will try to raise $2billion in debt to fund its Macau Studio City project on the Cotai strip. Funding will be in the shape of a loan-cum-bond with the loan portion taking up $2.5bn and bond the rest. Union Gaming Research warned that the firm has great potential over the next year, stating: “Our fair share/market share approach suggests that Melco Crown should experience 15 percent gross gaming revenue growth in 2012, assuming the market as a whole grows at 18 percent.”

Wynn Resorts’ largest shareholder nominated three candidates to the company’s board as the dispute between the two rolls on. Kazuo Okada, owner of Aruze USA Inc, made the regulatory filing earlier this week in relation to seats that will be put up for election during the firm’s 2012 shareholder meeting. Okada, chair of Aruze parent company Universal Entertainment Corp, has been involved in a bitter dispute with Wynn over information that he’s being denied access to.

Asian Poker Tour’s (APT) upcoming Asian Series event in Cebu has announced a string of new pre-event satellites for prospective players. DonkRoom has an online promotion where users winning a Value Added Satellite running every Tuesday (9:30pm HK time) get a Main Event package. Players competing in the site’s Rake Promotion have a chance to win the same package, that promotion ending on January 25th. All In Poker Club Cebu has the last of its 3-Seat Guaranteed Mega Satellite’s for the Main Event this coming Monday, January 30th. Play starts at 5pm and the buy in of PHP 3,300 allows re-entry up to the 4th level and there are three seats up for grabs at the Main Event, taking place between February 1st and 7th at the Waterfront Cebu City Hotel and Casino.

Comments

views and opinions expressed are those of the author and do not necessarily reflect those of CalvinAyre.com