Sheldon Adelson must be celebrating this month, after receiving approval from the government in China to add two hundred more gaming tables to one of his venues for a Macau Sands boost that will help the company both in terms of revenue and of stock prices, as confidence in the company is on the up thanks to a string of successful ventures and no clouds on the horizon. Adelson tends to keep his scandal limited to his political standings, unlike rivals who have had their names dragged through the mud in connection with bribery and breaking casino regulations.
Although the additions do not include any slot machine games, CLSA Ltd analyst Aaron Fischer predicts that the new tables could add around $500 million to the annual revenue that the company receives in the area. This news comes on the heels of the decision from the government to allow a new MGM casino in the area, while the Las Vegas Sands Corp are already planning to add a fifth resort in Macau – The Parisian, which will cost them around $2.5 billion to build. It was the chief executive officer of Sands China, Edward Tracy, who confirmed yesterday in a press conference that the company had received the go ahead from the government, and he said that some of the new tables will be ready before the Chinese New Year celebrations that begin on the tenth of February.
The announcement has boosted the advance for Sands China this month to twelve per cent, putting them up 1.6 per cent to HK$38.15 in Hong Kong trading. This is however not enough to surpass the new casino announcement from MGM China Holdings Ltd, which has given them a jump of twenty six per cent, and it also does not beat the surge of twenty two per cent seen by Melco Crown Entertainment Ltd after some favourable announcements on their part as well. This does mean that when the two hundred tables are installed, Sands China will own around twenty six per cent of all of the table games in Macau, a very impressive statistic given the large amount of casinos there.