..

MGM China IPO at HK$15.34 per Share

Written by:
Aaron Goldstein
Published on:
May/26/2011
MGM China IPO

It’s one of the hottest gambling markets out there and MGM China is smack in the middle.  The Macau venture between MGM Resorts International and the daughter of aging casino mogul Stanley Ho, Pansy Ho, priced its initial public offering (IPO) at HK$15.34.

The company sold 760 million shares, raising HK$11.66 billion ($1.5 billion), according to one of the sources. The company had previously set an indicative range for the IPO of HK$12.36 to $HK$15.34 a share.

Ho stands to become one of Asia’s top billionaires should the IPO go through as planned.

Casino revenue in Macau shows little sign of dying down.  In April, revenues were up 44.6 percent to $2.56 billion.  The market is set to double in size between 2013 and 2015 to $50 billion. 

- Aaron Goldstein, Gambling911.com

eToro

Business/Financial News

Analysis: Is PayPal's Crypto Move a Game-Changer for Bitcoin? Probably Not, Say Experts

Analysis: Is PayPal's Crypto Move a Game-Changer for Bitcoin? Probably Not, Say Experts

PayPal Holdings Inc's PYPL.O decision to open its network to bitcoin and its rivals was hailed by virtual coin enthusiasts as a watershed moment for cryptocurrencies and their path towards becoming a widespread means of payment.

PayPal Enters Crypto Market: Will Allow Buying, Selling and Shopping

PayPal Enters Crypto Market: Will Allow Buying, Selling and Shopping

PayPal Holdings Inc joined the cryptocurrency market on Wednesday, allowing customers to buy, sell and hold bitcoin and other virtual coins using the U.S. digital payments company’s online wallets.

Square Makes Big Bet on Bitcoin

Square Makes Big Bet on Bitcoin

Square, Inc. (NYSE: SQ) announced that it has purchased approximately 4,709 bitcoins at an aggregate purchase price of $50 million. Square believes that cryptocurrency is an instrument of economic empowerment and provides a way for the world to participate in a global monetary system, which aligns with the company’s purpose. The investment represents approximately one percent of Square’s total assets as of the end of the second quarter of 2020.

Fox Given a "Buy" Rating Thanks to Sports Betting Boost

Fox Given a "Buy" Rating Thanks to Sports Betting Boost

Fox Corp is an under-the-radar play on US sports betting, the headline reads for Wayne Duggan's report at Yahoo Finance!

John McAfee Arrested for Tax Evasion

Cybersecurity entrepreneur and crypto personality John McAfee was arrested in Spain on Tuesday for US tax evasion.

Syndicate