Hot news

Dublinbet

Dublinbet

DublinBet.com is an innovative and classy casino and card room. It offers classic online casino game favourites plus some of the best live dealer games on the net for January 2012.

Through the latest webcasting technology you can interact with dealers from the privacy of your home (or office!). The sounds and dealer action is live from the Fitzwilliam Card Club and Casino, in Dublin Ireland. DublinBet's Distance Gaming® is a 'must try even if you're not fussed for live dealer games - try the unique early payout

+ More info...

888

888

Do you find it hard to get to a live casino to play poker? Then simply come to 888poker, the best poker online room in Australia and experience the same thing with no hassle.888 Casino is one of the most famous casinos in cyberspace, thanks to some of the most eye-catching promotions in the industry and an ongoing commitment to innovation. Owned and operated by a subsidiary of 888 Holdings plc, which is listed on the London Stock Exchange, 888 Casino was launched in 1997 and more than 25 million people have played here since.

+ More info...

365 Casino

365 Casino

Enjoy a huge selection of casino games at 365 Casino with monthly bonuses and weekly promotions, Play Blackjack, Roulette, Baccarat, Slots, and Video Poker and win big at 365 casino. 24hrs a day, 365 days a year Safe & secure with excellent Customer Service.

+ More info...

Elegance Casino

Smart Live Casino

The unique thing about Smart Live Casino is its live casino games. It offers live baccarat, live roulette and live blackjack where the player sees the dealer and the action unfold infront of his own eyes. They have a fully array of games as well as sports betting. The site also comes in a variety of languages.

+ More info...

Macau Gives MGM China Green Light on Cotai Casino

E-mail Print PDF
Macau Gives MGM China Green Light on Cotai Casino

The Chinese unit of U.S. gambling giant MGM Resorts International has won approval from the Macau government to build a second casino in the world's largest gambling center.

Macau's six casino operators, including MGM's fellow Nevada-based companies Wynn Resorts Ltd. and Las Vegas Sands Corp., are battling to expand their foothold in the Chinese territory, which now earns about six times the gambling revenue of the Las Vegas Strip. A greater share of Macau's casino market is crucial with annual revenue growth in the territory beginning to slow–in 2012 gambling revenue rose 14% compared with the 42% growth seen in 2011–and access to labor and gambling tables remaining restricted by the government.

Shares of MGM's Hong Kong-listed unit MGM China Holdings Ltd. were trading 5.1% higher at HK$15.58 (US$2) at the midday break, against a 0.4% rise in the benchmark Hang Seng Index.

Wednesday's government approval is "a very important milestone in the project's development timeline and likely came sooner (perhaps significantly sooner) than investor expectations," wrote Union Gaming Group analyst Grant Govertsen. He said MGM China's Cotai project is conservatively worth about HK$3 per share, representing 20% upside to Tuesday's closing price of HK$14.82.

MGM's 17.8-acre site in Macau's up-and-coming Cotai area is designated for a complex including a five-star hotel, gambling space and open areas, according to a Wednesday announcement in the territory's official gazette.

MGM China reiterated in a statement that the resort, with a budget of $2.5 billion, will include approximately 1,600 hotel rooms, 500 gambling tables and 2,500 slot machines as well as restaurant, retail and entertainment offerings. Construction, for which the company still needs government approval, is expected to take up to three years.

Preliminary drawings of the casino resort seen by the Wall Street Journal featured towers designed to look like stacks of patterned Chinese jewelry boxes.

MGM owns 51% of its Macau subsidiary, which developed the MGM Macau casino. That property opened in 2007 and accounts for about 10% of Macau's gambling market. The Macau venture is a partnership with Pansy Ho, a daughter of tycoon Stanley Ho, who once enjoyed a monopoly in the Chinese gambling enclave.

The Cotai project will be MGM's first casino development since 2009 when it opened CityCenter, a massive $9.2 billion resort in Las Vegas. The company is also hoping to win approvals to build casinos in Maryland and Massachusetts.

Read more http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNEUYxDiVyoc0vYxFdI_48kSbnZR0g&url=http://online.wsj.com/article/SB10001424127887323482504578230702968530038.html?mod=googlenews_wsj

You are here