• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Sunday 1 June 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Louis XIII Secures Construction Loan

Newsdesk by Newsdesk
Tue 14 Jan 2014 at 03:42
1
SHARES
33
VIEWS
Print Friendly, PDF & Email

Louis XIII Holdings has agreed to terms with a mainland China bank for a HK$3 billion loan (US$385 million) to fund construction of a luxury hotel, presumably with a casino, on Cotai.

The six-year term loan, the subject of an offer letter from the unnamed bank, is described as “good news” by investment brokerage Union Gaming Research Macau which covers the Hong Kong-listed company’s stock (0577.HK).

“As we’ve noted on numerous occasions, we view the announcement of the debt deal as the best indicator—short of a comfort letter—that the project should ultimately receive an allocation of table games at the appropriate time,” the firm said today in a note to investors.

The balance of the project’s total funding, pegged at HK$6.4 billion ($820 million) was secured last year through a sale of new shares and convertible bonds.

The resort is slated to open in 2016 at the far south end of the Cotai Strip with 246 suites and villas, an invitation-only atelier and a branch of France’s famed L’Ambrosie, which will open as Macau’s only Michelin 3-star restaurant.

The 66 VIP and high-limit cash tables planned for the casino portion will require an operating agreement of some form with one of the city’s six gaming concessionaires similar to the numerous third-party-promoted casinos that operate as sub-licensees of SJM Holdings. Progress on that front has not been made public, but UGRM is comfortable that gaming will be part of the mix.

“We think that as part of its due diligence the mainland bank is likely to have sought requisite assurances on the project from the government,” the firm said.

 

 

RelatedPosts

Dr Wilfred Wong

Citi: Spending trends of Macau’s high rollers accelerating in 2024

Mon 23 Sep 2024 at 14:29
Angel to expand Macau presence by developing new US$130 million factory in Cotai

Angel to expand Macau presence by developing new US$130 million factory in Cotai

Thu 12 Sep 2024 at 21:34
A New Macau

A New Macau

Thu 30 May 2024 at 16:50
Light rail station connecting Macau peninsula with Cotai to open on 8 December

Light rail station connecting Macau peninsula with Cotai to open on 8 December

Wed 29 Nov 2023 at 18:17
Load More
Tags: CotaiCotai StripLouis XIII Holdings
ShareShare
Newsdesk

Newsdesk

Current Issue

Editorial – Foreigner-only casinos: Seize the day

Editorial – Foreigner-only casinos: Seize the day

by Ben Blaschke
Thu 29 May 2025 at 13:38

I was recently asked by someone working at a foreigner-only casino for my thoughts on the outlook for the Asian...

On the brink

On the brink

by Pierce Chan
Thu 29 May 2025 at 13:27

The transition period for Macau’s 11 satellite casinos is set to expire at the end of this year, after which...

A moral defense of gambling

A moral defense of gambling

by Andrew Russell
Wed 28 May 2025 at 18:19

Economist Andrew Russell explores the differences between community benefit and in-principle arguments for the existence of a legal gambling industry...

Face to face

Face to face

by Ben Blaschke
Wed 28 May 2025 at 18:08

Konami caught the eye at the recent G2E Asia show in Macau with its SYNK Vision Tables, which utilize facial...

Evolution Asia
Aristocrat
GLI
Mindslot
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

10 Years Ago – Reimagining Sri Lanka

Sri Lanka gazettes draft bill to establish Gambling Regulatory Authority

by Newsdesk
Sat 31 May 2025 at 06:03

A draft bill that would establish an official regulator for the Sri Lankan gaming industry, to be known as the Gambling Regulatory Authority, has taken another step forward after being gazetted. According to the Sri Lanka Mirror, the official announcement...

RGB International signs agreement to distribute KL Saberi and Atlas gaming machines

After record-breaking sales in 2024, Malaysia’s RGB sees 1Q25 profit fall to

by Newsdesk
Sat 31 May 2025 at 05:53

Malaysian gaming product distributor RGB International Bhd has reported group-wide revenue of MYR73.6 million (US$17.3 million) for the three months to 31 March 2025, down 65% year-on-year due to a lower number of products sold. The figure was also 79%...

Robert Goldstein to step aside as LVS Chairman and CEO from March 2026, replaced by Patrick Dumont

Robert Goldstein: Macau gaming market challenged by increased competition, online gambling and US-Sino trade war

by Ben Blaschke
Fri 30 May 2025 at 06:42

Las Vegas Sands (LVS) Chairman and CEO Robert Goldstein has bemoaned the lingering impact of the US-China trade war, as well as increased domestic and regional competition and the rise of online gambling across Asia for sustained flatness in the...

Industry hopes Thai Entertainment Complex Roundtable can establish “common ground” with those opposing legal casinos

Industry hopes Thai Entertainment Complex Roundtable can establish “common ground” with those opposing legal casinos

by Ben Blaschke
Fri 30 May 2025 at 05:38

Industry figures taking part in the Thai Entertainment Complex Roundtable (TECR) next Thursday 5 June hope to find common ground with those who oppose Thailand’s Entertainment Complex Bill, citing the opportunity to use an evidence-based approach to achieve outcomes that...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • English