Wynn Resorts is a ‘Chinese company’
Written by Jessica Clark on May 15, 2011 – 2:13 pmWynn Resorts Ltd. was splitting its headquarters between Las Vegas and Macau, the billionaire executive said, with the company’s revenue increasingly tied to soaring growth in the former Portuguese colony.
Macau posted US$23.5 billion in gaming revenues last year, outpacing the Las Vegas strip by at least four-fold. Much of the eye-popping figure is tied to high-roller gamblers from mainland China flooding into the southern territory — the only place in China that allows casino gambling.
“We think of ourselves very deeply as a Chinese company in many respects,” Wynn told reporters, adding that the firm’s revenue growth in Macau “clearly indicates that to be so.”
He was speaking to media following Wynn Macau’s annual meeting, with the U.S. parent al
Tags: Company, Wynn Resorts
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Luxury Villas For Sale Within Marbella – Guadalmina Baja Reduced Villa Property
Written by Jessica Clark on May 14, 2011 – 9:45 am
For those people looking for value and luxury, this Guadalmina villa for sale satisfies both criteria. On the market previously for €4,700,000, the owner has just reduced the asking price of this house to €2,950,000. Interestingly, the Spanish property valuers, TINSA have just given a valuation at just over the €4,000,000 mark, helping those people who want to purchase with a mortgage put far less cash down.
The property itself is large and very well maintained, both inside and out, offered prospective purchasers 1143m2 of internal space and a 2000m3 totally private plot. The g
Tags: Villa, Villa Property
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U.S. Maxes Out Its Credit
Written by Robert White on May 14, 2011 – 5:41 am
The United States has reached its self-imposed debt ceiling of $14.29 billion, Treasury Secretary Timothy Geithner told Congress on Monday. The federal government will have to dip into retirement funds for federal employees just to stay open, Geithner said.
The announcement immediately heightened political tensions in Washington. The Obama administration is urging Congress to increase the debt limit or risk a repeat of the global recession.
“As the recent financial crisis demonstrated, a severe and sudden blow to confidence in the financial markets can spark a panic that threatens the health of our entire global economy and the jobs of millions of Americans,” Geithner wrote in a letter to Sen. Mic
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The Value of a Minimal Approach
Written by Jessica Clark on May 13, 2011 – 2:43 pm
Above, you’ll see a picture of a Le Creuset 5 1/2 quart enameled cast iron pot. I picked it up at a cookware sale about a year and a half ago at roughly half off the list price. Yes, I paid around $150 for this single pot.
Since then, it’s almost the only pot or pan or skillet I’ve used in my kitchen. I’ve fried eggs in it. I’ve made casseroles in it. I’ve cooked spaghetti in it. I’ve made soup in it. I’ve baked casseroles in it. I’ve made bread in it.
After eighteen months of use, you can’t tell I’ve done anything with it. There are no scratches or marks. There’s almost no ind
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For Las Vegas Sands, the House Edge Is Geographic Diversity
Written by Jessica Clark on May 13, 2011 – 2:53 am
Las Vegas Sands (LVS) benefits from being relatively more geographically diversified than its most prominent competitors — companies such as Wynn Resorts (WYNN), MGM Resorts International (MGM), the Macau-based SJM Holdings (SJMHF) and Genting Singapore. Las Vegas Sands’ casino resort presence spans the U.S., Macau and Singapore.
Our price estimate for LVS stands at $49.36, implying a 10% to 15% premium to market price.
Geographically Diversified Operations
A wider presence worldwide gives stability and strength to a company’s top line.
Tags: Geographic, Las Vegas, Las Vegas Sands, Vegas Sands
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