stoCK watCH 57
“neutral” or “market perform”,
while five suggested to “buy”
or a similar rating, such as
“overweight” or “outperform”.
Some of the positive fore-
casts for the company, which
had a capital injection lately,
are related to the upcoming
opening of the mega-complex,
Marina Bay Sands Singapore.
There is also the expectation
that the Four Seasons Macau
will attract VIPs from Hong
Kong.
E
s
Billionaire Sheldon Adel-
Z
E
n
s
son saw his money increase
n
o
s
two percent on the stock mar-
/
J
a
ket in the 30-day period from
p
a
: E
December 15 2008 and Janu-
t
o
ary 15 this year. However,
o
h
p
LVS has lost 44 percent in
three months (mid-October to
We don’t expect fundamental recovery in 2009
mid-January).
Wynn (NASDAQ: in Las Vegas or Macau
WYNN) also got five “buy”
ratings, from a universe of 21
analysts, and 14 “hold” rat- condominiums attached to the percent in 30 days, was re- market, The China Knowl-
ings. Jefferies & Company’s CityCenter. cently upgraded to the Nasdaq edge reported on January
gaming analysts team say they Murren also led MGM to Global Select Market, which 15. Shares in the company,
see potential for the company, write down the value of Man- means the company met the which runs 19 casinos in
with a US$ 60 target price for dalay Resort by US$1.2 billion specific financial and liquid- Macau, grew 11 percent on
the stocks. Not bad consider- – the company was acquired ity requirements to gain entry the Hong Kong stock market
ing in mid-January the value by MGM for more than US$7 to a select group. from December 15 to Janu-
was prowling US$35. billion. Finally, in the begin- The co-chairman and ary 15.
Meanwhile, some ex- ning of the “new CEO era” chief-executive Lawrence Ho, In the same period, Gal-
perts predict the new Encore the Treasure Island casino said in January that Melco axy Entertainment Group’s
Las Vegas could leverage the was sold in a transaction that Crown expects mainland visa (HKSE: 27) shares skyrocket-
group. Steve Wynn’s empire gave the company a US$775 restrictions to be eased in ed roughly 80 percent, break-
stocks slid 11 percent from million cash injection. the coming months. The ex- ing the barrier of HK$1. Since
December 15 2008 to the Most analysts believe it ecutive added the company last October their share price
same day a month later. is best to “hold’’ shares in the is interested in expanding was at the Hong Kong dollar
MGM Mirage (NYSE: north-American group, which to Taiwan, according to The “cents” level.
MGM), who pushed back the opened the MGM Macau in Standard newspaper in Hong Controlled by the bil-
opening of the CityCenter 2007. One reason is the fact Kong. The Crown Macau op- lionaire Lui Che-woo, the
Las Vegas to 2010, has been that from mid-December to erator was the only group in company which is developing
going through many changes mid-January, MGM lost 14 December and January to col- the Galaxy Macau complex
since James Murren took over percent in Wall Street trading. lect more “buy” ratings than on the Cotai Strip saw its
as CEO from Terry Lanni, “hold”. shares soar 43 percent over a
who retired last year. Besides Crowning glory Like Melco Crown, three-month spectrum. Still,
postponing the above men- SJM (HKSE: 880) seems to the majority of the analysts
tioned project, he cancelled Melco Crown (NYSE: be looking at widening op- recommend to “hold” the
the building of two hundred MPEL), which went up 11 erations into the Taiwanese company’s shares.
february 2009
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