Inside Asian Gaming

February 2011 | INSIDE ASIAN GAMING 45 Briefs substitute for having feet on the ground in the two largest and most dynamic gaming markets in the world. Our integration into these communities will allow us to deliver a unique set of resources to our clients that has never been offered before.” Union Gaming Research Macau Ltd. is located in the Finance and IT (FIT) Building on the Macau peninsula, in the heart of the world’s largest gaming market. The firm will publish equity research and provide corporate access to its global client base. Macau gaming revenue jumps 33.2% in January Macau’s Gaming Inspection and Coordination Bureau (DICJ) reported January gaming revenue grew 33.2% year-on-year to 18.6 billion patacas (US$2.3 billion). Union Gaming pointed out that the January revenue figure“could have been slightly impacted (negatively) by the early February timing of Chinese New Year, which could have resulted in late month visitation being deferred to the holiday period.” Chinese New Year began on 3rd February this year, compared to 14th February in 2010. Macau’s gaming revenue surged 58% year-on-year in 2010 to 188.3 billion patacas (US$23.5 billion). Analyst estimates for full year 2011 revenue growth range fromas low as 17% to 30%. Union Gaming’s outlook is near the lower end of that range: “In 2011 we estimate 19% gaming revenue growth in Macau to US$28bn. This contemplates recent months’ run-rate revenues and regional inflation expectations, while also attempting to capture incremental visitation penetration and various junket dynamics. When layering in relatively modest incremental table supply growth of an estimated 7% in 2011 (Galaxy Cotai) versus 32% on average over the past five-years, and a full-year of junket commission caps (on Rolling Chip scheme) we are particularly bullish on the positive flow- through to margin and profit growth for Macau’s casino operators.” Market share rankings compiled by Macau Daily Times showed Stanley Ho’s SJM maintaining a comfortable lead over the competition. with around 31% of the total. Sands China’s share was almost 18%, Melco Crown Entertainment had around 14.5%, Wynn Macau 13.8%, Galaxy 11%, and MGM Macau dropped back to the bottom spot with 10.5%. MGM China seeks Hong Kong listing The Wall Street Journal Online reported MGMChina Holdings Ltd, MGM Resorts International’s joint venture with Pansy Ho, hopes to secure regulatory approval in Hong Kong by the end of February at the earliest for an initial public offering of around US$800 million ahead of a listing, according to “a person familiar with the situation”. The person said the timetable hasn’t been finalised yet, but a listing hearing could be held at the Hong Kong stock exchange by the end of February or early March at the earliest. The company filed an A1 Form, the first formal step in declaring intent to list in Hong Kong, in September. If a company gains listing approval, the next steps typically involve pre-marketing followed by a roadshow and then a listing within six weeks. According to the source, J.P. MorganChase &Co., Bank of America- Merrill Lynch, Morgan Stanley, and BNP Paribas SA are the bankers on the deal. Andrew Macaulay appointed Aspect Gaming MD Aspect Gaming announced the appointment of Andrew Macaulay to the role of Managing Director. He will be responsible for the operations of the business, and will be based out of Macao. “With this appointment we continue to strengthen our executive management team,” said Justin Nguyen, Chairman and CEO of Aspect Gaming. “Mr Macaulay brings with him more than a decade of commercial experience in global gaming markets. Prior to joining Aspect Gaming, Mr Macaulay held senior positions as Executive Vice President, Asia for Shuffle Master, General Manager of Business Development for Aristocrat Leisure Limited and Managing Director of GTECH Australasia.” Singapore’s Merlion to open as temporary hotel Singapore’smythical symbol—thehalf-lion, half-sea creature known as The Merlion—is to be converted (temporarily) into a hotel suite. It could be the ideal temporary pad for a celebrity or high roller gambler visiting the city-state. TheMerlion landmark at Merlion Park will undergo a transformation starting 7th February to become a temporary hotel suite. The Merlion Hotel is just one of the many artwork installation projects presented as part of this year’s Singapore Biennale organised by the Singapore Art Museum. The temporary hotel will be unveiled on 11th March and opened for public viewing for a two-month period from 13th March. Key information onThe Merlion Hotel, including how visitors may stay a night at the suite, will be announced shortly by the museum. It will revert to being a tourist landmark on 6th June. Top dog—SJM’s flagship Grand Lisboa AndrewMacaulay Roaring towards a roadshow—MGMMacau