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Macau daily gambling news

TAGs: Cotai, Galaxy Entertainment Group, melco crown, MGM China, sands cotai, SJM Holdings, union gaming research, wynn macau

sjm holdings ltsSJM Holdings has warned people to be vigilant after they learned of a website pretending to be them to defraud the public. A stock market filing from the Macau-based casino firm told how it had become aware of a fraudulent website operating at http://www.sjm-holdings.com and using certain pieces of company information. It included the company logo; images of their casinos and directors; as well as various company details that have helped give the site legitimacy. The release states the illicit site has used SJM’s name to “attempt to defraud members of the public (mostly overseas) of money by offering purported prizes in lucky draws or competitions”. It was also pointed out “SJM does not operate any gaming operations online and does not organise any telephone or online competition or lucky draw offering prize money”.

Wynn Macau has approached a number of banks to try and secure a $1 billion loan to finance its Cotai project. Bloomberg quotes three people familiar with the matter who state the company will hold meetings with Hong Kong banks tomorrow in order to seek feedback on the application. Wynn has so far not come forward with comment. It has also been reported that Capital Research and Management Company reduced its stake in Wynn from 5.01 percent down to 4.92 percent. It did so by selling 4.738 million shares at HK$19.36 on the country’s stock exchange.

Sands Cotai is accounting for the most walk-in visitors amongst Cotai’s casino business properties. Union Gaming Research analysts Grant Govertsen and Felicity Chiang used the method to calculate which firm is leading the strip’s mass market and found that Sands had “65 percent” of the walk-in visitors – despite only owning 55 percent of the tables. The analysts used a count of casino shuttle bus passengers to estimate the numbers for the whole of Macau and found that Sands had a weighted share of customers equal to 34.6 percent. SJM came up second with 28.9 percent, then Galaxy Entertainment Group (19.1 percent), Wynn Macau (6.6 percent), Melco Crown (6 percent) with MGM China bringing up the rear (4.9 percent).

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