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Great rise in share value of Vegas properties, casino IPO in Hong Kong by Macau Legend Development | 5 January 2013 : WorldCasinoYellowPages

Great rise in share value of Vegas properties, casino IPO in Hong Kong by Macau Legend Development

... 05 January 2013

Great rise in share value of Vegas properties, casino IPO in Hong Kong by Macau Legend Development

While a record breaking revenue of $38 billion for the fiscal year 2012 has been recorded in Macau in respect of its gambling activities; the first trading day of the new year, i.e. 2013 witnessed a steep hike as far as many of the casino operators of Las Vegas are concerned. The Wynn Resorts Ltd. has reportedly been ranked first amongst the operators by improving the position of its shares at $5.58 with a close on the Nasdaq at $118.07 whereas Caesars Entertainment Corporation closed at $7.40, i.e. 7.4 percent or 48 cents, superseding its earlier record.

An increase of 63 cents, say 5.41% in the share value of MGM Resorts International has also been reported before NYSE closed at $12.27. Similarly a marvelous boost with a hike of $2.59 or 5.61% has been written in respect of Las Vegas Sands Corporation – owned by Sheldon Adelson; before the New York Stock Exchange closed at $48.75. Same way, other operators have also excelled their previous income records and the state has also been benefited to great extent through its share of the revenue slice from the gambling activities.

Macau Legend Development, backed by David Chow - the ex-lawmaker of Macau expects to receive approx $500 – $800 million through the disposal of its shares as the maiden public offering of this casino operator in Hong Kong is in the pipeline, say some anonymous sources. The period between the fourth & sixth month of this fiscal year could be the appropriate time when the sale of the shares is begun by Macau Legend Development that counts the Macau Fisherman’s Wharf compound, the Pharaoh’s Palace Casino and the Landmark Macau Hotel among its properties.

It is noteworthy that the casino operator had the opportunity to gain extensively through the gigantic run in 2012 at the gambling city of China and that could be the exact reason for it to manage an IPO in its favor. Though the property suffered a bit through its high-roller and VIP customers, yet it is optimistic to attain big success through its future plans. Macau Legend Development, the wise operator is looking for a suitable opportunity to hit the target when it is viable and the market is also hot so that the IPO could be arranged in the region of Hong Kong.

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