All GLG News Analyses Filed Under: Gaming & Casinos

Wynn Resorts becoming "more Chinese" with Hong Kong IPO

September 24, 2009

Analysis by: GLG Expert Contributor

Analysis of:Wynn Resorts upbeat about Hong Kong IPO | www.ft.com

By floating the Wynn Resorts Macau IPO on the Hong Kong Stock Market, Steve Wynn hopes to become more tightly integrated with the Chinese gaming and financial communities.  The Financial Times reports that the offering makes Wynn Resorts the first American-based company to establish a presence on the Hong Kong Stock Exchange.  This strategy helps Wynn not only become more successful with the Chinese market in Macau over the near term, but in Las Vegas over the long term.

California's Impact on the Las Vegas Strip, City Center & the port of LA

September 8, 2009

Analysis by: GLG Expert Contributor

Analysis of:Los Angeles Times, Luck Runs Out on Las Vegas Boom | www.latimes.com

Southern California/California is the the largest market for the Las Vegas Strip. Economic conditions in Southern California have a direct impact on LV Strip visitor volume and spending levels. We have compared historic and prospective consumer related Southern California economic metrics to Las Vegas Strip volume and spend data to analyze current and future demand dynamics on the LV Strip in light of the upcoming increase in supply tied to MGM's , City Center opening.

I. Nelson RoseDistinguished Senior ProfessorWHITTIER COLLEGE

Great News for Slot Manufacturers, If Legislature Agrees

August 31, 2009

Analysis of:Home Meet Governor Crist | www.flgov.com

Gov. Crist had until 11:59 pm tonight to reach a new agreement with the Seminoles. He did, giving them unlimited slot machines in seven locations. But it also gives them blackjack and other table games in all seven casinos, which the Legislature had limited to two counties. Therefore, the new Compact is just as invalid as the last one he signed, unless the Legislature signs off on this one, to get the billions of dollars of new revenue.

I. Nelson RoseDistinguished Senior ProfessorWHITTIER COLLEGE

Macau’s Uncertain Future

August 10, 2009

Analysis of:RPT-Q+A-What does illness of gaming king Ho mean for Macau? | www.reuters.com

Macau's government's cap on junket commissions came just in time. Keeping high-roller baccarat profits with casino operators is very good news for Macau’s casino concessionaires and their many partners. The deal was brokered by 87-year-old Stanley Ho, now in intensive care after brain surgery. If Ho does not recover completely, fights for succession could break out. Instability in China is never a good thing for outsiders trying to do business there, and may directly impact American casino

I. Nelson RoseDistinguished Senior ProfessorWHITTIER COLLEGE

Good News for Harrahs, Possible Break-Through for PartyGaming

August 7, 2009

Analysis of:Senator Menendez Online Poker Bill Barney Frank on Steroids | www.gambling911.com

A companion bill to Barney Franks' in the House, by Robert Menendez in the Senate, greatly increases the chance Internet poker will be made legal next year. Both bills favor land-based gaming companies getting into the act. But they differ on whether gaming will be limited to poker, and whether operators like PartyPoker, which pulled out of the U.S. market after the passage of the UIGEA in 2006, will be allowed back in.

William SherlockFormer President and CEOMASHANTUCKET PEQUOT TRIBAL NATION

vegas probably has hit the bottom but the climb back is overwhelming

July 20, 2009

Analysis of:MGM Mirage Says Las Vegas 'Bouncing Along a Bottom' | www.bloomberg.com

It is going to be a long haul for vegas to return to the glory years of the early 2000's

I. Nelson RoseDistinguished Senior ProfessorWHITTIER COLLEGE

Companies Gearing Up for Intra-State Poker Will Dominate Internet Gambling

April 27, 2009

Analysis of:Calif. Poker Bill Unveiled | igamingnews.com

Harrah's is rumored to have hired Mitch Garber, former CEO of PartyGaming (PYGFM), to head its World Series of Poker and online gaming operations.  PYGFM itself settled with the federal Department of Justice, and is looking to now get back into the U.S.  Rep. Barney Frank had to delay repealing the UIGEA, but the states are moving ahead with intra-state gambling, particularly poker in California.  And the operators who get in on the ground floor will be in the best postion to control the entire U.S. market.

William SherlockFormer President and CEOMASHANTUCKET PEQUOT TRIBAL NATION

could not disagree more

April 24, 2009

Analysis of:PENN (PENN NATIONAL GAMING) STALKS LAS VEGAS STRIP FOR BARGAINS AS MGM, HARRAH'S BATTLE DEBT LOAD | www.bloomberg.com

Ron usually is spot on in his Las Vegas analysis but I think he has missed the boat on this one

Ron LodgeFormer Senior Marketing Executive (former)VENETIAN CASINO RESORT, LLC

PENN NATIONAL NEEDS TO MAKE SURE LAS VEGAS IS A MARKET THEY REALLY WISH TO ENTER

April 23, 2009

Analysis of:PENN (PENN NATIONAL GAMING) STALKS LAS VEGAS STRIP FOR BARGAINS AS MGM, HARRAH'S BATTLE DEBT LOAD | www.bloomberg.com

Could the timing for a purchase by Penn National entering the Las Vegas gaming arena be slightly premature for them. Is this truly the market area that would fit into their family of properties? Can this be a mistake on their part, by looking into a type of higher end gaming establishments?

I. Nelson RoseDistinguished Senior ProfessorWHITTIER COLLEGE

Kerkorian and Icahn -- Bluffing for MGM's Billions

April 20, 2009

Analysis of:Icahn Takes On Kerkorian in Big Las Vegas Showdown | online.wsj.com

The histories of the major players in the current MGM financial crisis reveal their goals:  Icahn is again acting like a raider; Oaktree is doing percentage calculations on long-term debt; Bank of America (BAC) wants to survive and make at least some profit; and Dubai World is in way over its head.  Kerkorian is the experienced poker player, able to bluff out novices like Dubai World and BAC, and maybe even Icahn.  But his cards have to improve quickly, mainly by selling assets, or he will have to declare bankruptcy.

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