EvenBob
EvenBob
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June 19th, 2012 at 4:37:30 PM permalink
Didn't the Sands owner/CEO/Whatever just give $10,000,000
to the Romney campaign, with more to follow? If Romney does
win and releases the stranglehold Obama has on business,
Sands could see a lot of new customers.
"It's not enough to succeed, your friends must fail." Gore Vidal
pacomartin
pacomartin
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June 19th, 2012 at 4:54:20 PM permalink
Quote: EvenBob

Didn't the Sands owner/CEO/Whatever just give $10,000,000 to the Romney campaign, with more to follow? If Romney does win and releases the stranglehold Obama has on business, Sands could see a lot of new customers.



Sheldon Adelson gave $10 million to a Super Pac that supports Romney. It is illegal to give that much money to a candidate, Mr. Adelson has told friends that he intends to give at least $100 million to conservative causes and candidates this election cycle.But he has also told his friends and colleagues that he would prefer to keep his contributions under wraps in order to avoid controversy, and will likely focus donations mostly on non-profits affiliated with political PACS, which donít have to disclose the names of donors.

Sands Corporation is making such an overwhelming percentage of their business overseas, that he may be almost immune to business conditions inside the USA. He seems equally concerned with the US position on the state of Israel. He sees Obama as too soft on the enemies of Israel.

I would think that right now the financial health of Spain would be a bigger concern to Adelson than the USA. His intention is to invest more money in the European Vegas than he has in the USA right now.
Pando
Pando
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June 19th, 2012 at 5:43:04 PM permalink
This stunning photo is the hotel and is typical of the sparkling new development in Marina Bay. The hotel building is 52 stories I think, with the rooftop accessible to visitors to eat and drink and take in the view. But the casino itself is unspectacular, with most of it burried underground in another building and not visible in the photo.

The casino entrance level from the road is into the middle floor (the non smoking floor) and then punters descend down into the main gaming floor (smoking allowed), or up a level to the VIP and members rooms. Its interesting that smoking is strictly banned in public places in Singapore, but not in the two casinos.

Having visited Marina Bay Sands, and Sands Macau on many occasions, as well as the Venetian Macau, in my view, Sands Macau and the Venetian are much better casino's than Marina Bay Sands. However, as Singapore has only 2 casino's, Marina Bay is clearly very, very successful. I doubt however that it is drawing significant numbers of Chinese punters who would otherwise go to Macau, unless they are whales. In my experience the punters are locals, Malaysians, Thais and Indonesians.

As can be seen from the stats in this post, slots are really not favoured by the Chinese in Macau, so this suggests that the high proportion playing the slots in Marina Bay Sands are not mainland Chinese visitors.

Yes, it is correct that Marina Bay Sands now has craps on offer.

The entrance fee is payable only by locals, so visitors must present a passport or ID (in the case of Malaysians) to enter free of charge.
pacomartin
pacomartin
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July 26th, 2012 at 1:54:59 AM permalink
Quote: pacomartin

Resort Square Feet Tables Slots Table/day Slot/day Tables/day Slots/day Casino/day
Marina Bay Sands 165,000 607 2,479 $12,975 $665 $7,875,825 $1,648,535 $9,524,360
Venetian Macao: 550,000 570 2,282 $14,334 $334 $8,170,380 $762,188 $8,932,568
Sands Macao: 229,000 399 1,093 $10,733 $295 $4,282,467 $322,435 $4,604,902
Four Seasons intimate 165 176 $26,933 $740 $4,443,945 $130,240 $4,574,185
Las Vegas, NV 225,000 227 2,417 $7,085 $188 $1,608,295 $454,396 $2,062,691
Bethlehem, PA 139,000 119 2,995 $2,784 $279 $331,296 $835,605 $1,166,901



On comparison you can do is to compare 2012 2nd quarter with 2012 1st quarter. This comparison in many ways is not fair since you are looking at the quarter with Chinese New Years vs a quarter without.

But I am trying to hypothesize an explanation for this massive drop in stock price over the last few weeks. Adelson must have lost $10 billion.

GAMING REVENUE ONLY

Resort Change Casino/day 1QTR 2012 Casino/day 2nd QTR 2012
Marina Bay Sands -37% $9,524,360 $6,046,154
Venetian Macao: -31% $8,932,568 $6,171,429
Sands Macao: -37% $4,604,902 $2,909,890
Sands Cotai $3,080,247
Four Seasons -42% $4,574,185 $2,635,165
Las Vegas, NV -50% $2,062,691 $1,039,560
Bethlehem, PA 1% $1,166,901 $1,175,824
pacomartin
pacomartin
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July 27th, 2012 at 12:02:20 PM permalink
There seems to be a huge drop in gaming stock across the board.

Stock 52 week high Today Drop
Ceasars Entertainment $17.90 $8.62 -51.8%
Boyd Gaming $9.75 $5.65 -42.1%
Wynn Resorts $161.33 $94.21 -41.6%
Las Vegas Sands $62.09 $36.28 -41.6%
MGM Resorts $15.74 $9.46 -39.9%
Penn Gaming $46.55 $39.58 -15.0%
kewlj
kewlj
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July 27th, 2012 at 12:14:47 PM permalink
Adelson's concerns have more to do with the Justice Department investigation of him for violating the foreign corrupt practices act, basically bribing Macau officials with direct payments. He is simply trying to buy a new Justice Department, which of course will end that investigation. While Mr Adelson has always donated to republican causes, over the lat 12 years the total yearly donations have been between, 100,000 and 200,000 every cycle. This cycle he is over 10 million and presumably going to go much higher. His agenda isn't republican. It is a new Justice department and dropped investigation. lol

http://www.pri.org/stories/politics-society/tt-justice-department-investigating-billionaire-sheldon-adelson-gop-s-biggest-donor-10732.html
pacomartin
pacomartin
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July 29th, 2012 at 8:50:22 PM permalink
Quote: pacomartin

There seems to be a huge drop in gaming stock across the board.




Quote: Sheldon Gary Adelson

At 2nd quarter conference call to Steven E. Kent - Goldman Sachs Group Inc., Research Division
Steve, this is Sheldon. I'd like to point something out. Up until this quarter, we had 11 straight quarters of growth. When you have 11 straight quarters of growth, how do you interpret volatility?



I have to agree with Sheldon Adelson here. Macau revenue at the existing three properties was the same. The new growth was at the new property which had some expenses normally associated with a new opening. Singapore earnings were down by about 5%, and Vegas had a small drop. Overall, this affected profit, which dropped by 40% from last year.

But market share and EBITDA are high. Long term prospects seem decent. The out of control growth is slowing a little.

I don't understand the overreaction in the stock market.
EvenBob
EvenBob
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July 29th, 2012 at 9:16:35 PM permalink
LVS stock has dropped 42% since Ap, thats the kind
of drop you had during the Depression. I visited the
LVS stock forums and investors are pissed. All they can
see is its going to take a long time to get to where they were in
Ap. If its even at the bottom yet.
"It's not enough to succeed, your friends must fail." Gore Vidal
pacomartin
pacomartin
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July 30th, 2012 at 12:37:39 AM permalink
Quote: EvenBob

LVS stock has dropped 42% since Ap, thats the kind
of drop you had during the Depression. I visited the
LVS stock forums and investors are pissed. All they can
see is its going to take a long time to get to where they were in
Ap. If its even at the bottom yet.



I suppose I should finish this table of operator stock prices with Pinnacle and Ameristar. Now there are 8 companies.

LVS stock has tumbled the same as everyone else. I am always surprised when people get pissed. It's not like Macau is a big secret. Billions of people here about it and read about it. It's not as if you had a secret insider stock tip.

Stock 52 week high Today Drop
Ceasars Entertainment $17.90 $8.62 -51.8%
Boyd Gaming $9.75 $5.65 -42.1%
Wynn Resorts $161.33 $94.21 -41.6%
Las Vegas Sands $62.09 $36.28 -41.6%
MGM Resorts $15.74 $9.46 -39.9%
Pinnacle Entertainment $14.91 $10.28 -31.1%
Ameristar Casinos $23.47 $17.06 -31.1%
Penn Gaming $46.55 $39.58 -15.0%
EvenBob
EvenBob
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July 30th, 2012 at 12:40:17 AM permalink
But did anybody else drop 42% in 3 1/2 months?
"It's not enough to succeed, your friends must fail." Gore Vidal

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