For James Packer, 2012 was the year he came into his own. After shunning the spotlight for years he burst back into the public eye with a series of media interviews and speeches… After maintaining his family’s long involvement in the media industry for six years, since the death of his father, Kerry, he sold his last major media stake for $1 billion… But perhaps the biggest change is in Packer’s fortune. It climbs $1.5 billion, to $6 billion, a bigger jump than for anyone else on the list. Credit largely goes to Crown’s rising value, and now he has his sights set on building a casino in his hometown of Sydney.
Monthly Archives: January 2013
Rank Group PLC, the British bingo hall and casino firm, said it will likely take a Â£3m revenue hit because the heavy snowfall in January kept customers at home… The Mecca Bingo and Gala Casinos owner also reported a 4 percent fall in profit before tax for its half year to December 31 to Â£31.3m, blaming marketing layouts for its online gambling arm Blue Square Bet and higher operating costs for its bingo halls. Group revenue was up 5 percent to Â£312m.
The power consumption landscape in Macau formed over the past century with the Peninsula as the dominant user may undergo an upside-down overhaul in just 2 to 3 years’ time, driven by the power-hungry casino-resorts on the Cotai Strip, where the main players in the city’s dominant industry have congregated or are moving with their own gaming projects. Talking to the Times, CEM’s Senior Engineer at the Design and Construction Department, Mr. Vincent Iong, said the scale between the Peninsula and the Island is quickly tilting towards the Island’s side in terms of power consumption, as the North is quickly losing its traditional role as the dominant power consumer in comparison to the south.
Passenger ferry trips between Macau and Hong Kong went down by 7 percent year-on-year in 2012..ferry trips between Macau and Hong Kong totalled 112,691 last year… passenger ferry trips between Macau and the mainland increased by 9 percent year-on-year to 27,264 ferry trips.
Official data shows that the number of VIP gaming promoters operating legally in Macau is the highest ever. There are 235 licensed companies and individuals, 7.3 percent more than a year ago, annual data released yesterday by the Gaming Inspection and Coordination Bureau shows. That is an average of seven licensed junket operators per casino.
Sands China Ltd posted profit of $3.7 billion in the fourth quarter of last year, up by a staggering 52.3 percent in comparison with the same period of 2011… total net revenues for Sands China increased 48.1 percent to $1.97 billion. Adjusted property EBITDA rose by 44.1 percent to $619.9 million… “We welcomed a record 11 million visitors to our Cotai Strip properties during the quarter, including five million in the month of December,” Sheldon Adelson said.
Marina Bay Sands … operating profit fell by 29.1 per cent to $302.5 million… operating profit was mainly affected by a lower win percentage for the casino at 2.14 per cent, compared to 3.34 per cent in Q4 of 2011. This reduced percentage means that players got luckier and the casino had to pay out more in winnings… high-rolling gamblers from key markets such as China bolstered revenue. They spent $16.47 billion at the tables between September and December, up 53 per cent… The hotel and mall segments of the integrated resort also did well, with strong revenue growth of 10.2 per cent and 11.5 per cent year-on-year.
Changi Airport set a new record in passenger traffic last year, crossing the 50 million passenger movements mark for the first time in its 31-year history. Passenger traffic for 2012 totaled 51.2 million, an increase of 10 per cent over 2011. Last December, Changi registered a record 4.92 million passenger movements. It also saw a new daily record on Dec 22, with 180,400 passengers passing through in 24 hours.
Las Vegas Sands Corp. grew profits in the fourth quarter while cracking the $11 billion mark for revenues for all of 2012. The casino operators said its net income for the quarter that ended Dec. 31 was $438.8 million, a 35.8 percent increase compared with $320.1 million in the same quarter a year ago. The profits translated into earnings per share of 53 cents, a 35.9 percent increase compared with 39 cents per share in the fourth quarter of 2011. Net revenue in the fourth quarter was $3.08 billion, an increase of 20.9 percent compared to $2.54 billion in the fourth quarter of 2011. For all 2012, net revenue increased 18.3 percent to $11.13 billion, compared with $9.41 billion in 2011.
Penn National Gaming saw its stock fall by 20 cents a share in the fourth quarter of last year. Despite quarterly revenue growth of 10 percent over the year before, earnings fell short of Wall Street expectations. Chairman and CEO Peter Carlino blamed the election, the battle over the so-called fiscal cliff in Congress and a slow start of its new casinos in Ohio… Penn reported earnings per share of 28 cents for the fourth quarter, compared to 48 cents for the same period in 2011. The company posted net revenue of $743.8 million, compared to $676.5 million the year before. Operational profits were $152.3 million, down 2.6 percent from a year ago. For the year, Penn posted adjusted earnings of $711.4 million, down from $730.2 million in 2011.