Vitaly Umansky, who is a senior research analyst, global gaming for Sanford C. Bernstein Hong Kong Ltd and the former CFO for New Cotai Holdings LLC (a one-time investor in the Macao Studio City project), has told GGRAsia at the ongoing Global Gaming Expo (G2E) Asia 2015 conference that several of the current Macau casino operators could become buy outs targets for Chinese investors.
In a panel discussion, Umansky had commented:
“Macau can’t really diversify. It’s only competitive advantage is to be a gaming destination.”
After the panel discussion, he told GGRAsia:
“The only scenario – and this is longer term – is that one or two of these concession holders get bought out by somebody else – primarily a Chinese company… Several operators – from a price perspective, from a value perspective – probably make reasonable targets.”
Umansky didn’t name the possible Macau casino buyout targets and its worth remembering that SJM Holdings Limited (HKG: 0880; OTCMKTS: SJMHY) and Galaxy Entertainment Group Limited (HKG: 0027; OTCMKTS: GXYEY; GXYEF) already have Chinese families in control.
GGRAsia did observe that MGM Resorts International (NYSE: MGM), which controls MGM China Holdings Ltd (HKG: 2282; OTCMKTS: MCHVF; MCHVY), has come under pressure from some activist shareholders to return more value to stock owners and its annual general meeting is scheduled for May 28th.
To read the whole article, Macau ops possible targets for Chinese buy outs: Umansky, go to the website of GGRAsia. In addition, check out our Macau Casino stock list page.
Similar Posts:
- MGM Exec: Selling MGM China Stake Would be Bad Idea (GGRAsia)
- Sanford Bernstein: Mass Market is Macau Casino Gaming’s Future (GGRAsia)
- Understanding the Macau Casino Junket System & Why Its on a Losing Streak (WSJ)
- Macau Casino Smoking Ban: Nightclubs to the Rescue? (GGRAsia)
- Macau Visitor Numbers Will Keep Growing (GGRAsia)
- Macau Casino Stocks are Entering a “Multi-year Earnings Decline Cycle” (GGRAsia)
- Macau Casino Boom-Bust Cycle in One Chart (Bloomberg)
- Macquarie’s Le Cornu Likes Korean Cosmetics, Chinese Insurance Stocks & Macau Casinos (Bloomberg)
- Fitch Ratings: More Negative on Macau Casino Gaming Near-to-Medium Term Prospects
- Sheldon Adelson: Macau VIP Gamers “Below the Radar” Until “Witch-hunt” Levels Off (Macau Daily Times)
- Why Macau Won’t Unseat Las Vegas Any Time Soon (FitchRatings)
- Maybe Oct Before Meaningful Macau Casino Biz: JP Morgan (GGR)
- Nomura: “Slow Grind” Recovery Needed for Macau
- Why Two Fund Managers Still Believe in Macau Casino Stocks (FE Trustnet)
- Wynn Palace Will Outperform Other Macau Casino Developments (Fitch)
