Which Hong Kong Billionaire will win the QUEENSLAND CASINO WAR—–Billionaire Cheng’s Company to Buy Macau Junket Operator – Bloomberg—————“Buying into an existing junket operator is probably the easiest way to participate in Macau’s casino boom,” Grant Govertsen, an analyst at Union Gaming Group, said by phone today. “Macau’s government is unlikely to give out more casino licenses, but the city’s tremendous growth in casino business is largely driven by the mainland VIPs brought by the junkets.”

October 24, 2014 by rajcairns Leave a comment

 

“Buying into an existing junket operator is probably the easiest way to participate in Macau’s casino boom,” Grant Govertsen, an analyst at Union Gaming Group, said by phone today. “Macau’s government is unlikely to give out more casino licenses, but the city’s tremendous growth in casino business is largely driven by the mainland VIPs brought by the junkets.”

Cheng owns a 10 percent stake in closely held Sociedade de Turismo & Diversoes de Macau SA (STDM), founded by his longtime friend Stanley Ho. Cheng bought the stake from Ho’s former business partner in 1982. The 10 percent stake in STDM gives him control of 293 million shares of SJM Holdings Ltd. (880), Asia’s largest casino operator by revenue.

 

 

 

Billionaire Cheng’s Company to Buy Macau Junket Operator – Bloomberg.