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StarCrus$US proposed name change will reflect itself better in its business, this will stir up interests among few BBs. Cheong like rocket i donno really :) But its a stock that you might want to pay a little more attention to these few days.
Its a stock that worth $0.54 :)
BOSAYOR
iPunter ( Date: 13-Oct-2009 20:59) Posted:
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Text Size 
The
Chinese city of Macau is considering ways to curtail expansion of the
world's fastest-growing major gambling market, sending shares of U.S.
casino operators from Las Vegas Sands[LVS
17.72
-0.33
(-1.83%)
] to Wynn Resorts[WYNN
65.88
-1.94
(-2.86%)
] Ltd sliding on Monday.
 |
Photo by: Conor Ogle Roulette Wheel |
The former Portuguese enclave is considering rules, to be drafted in two to three months, that might impose limits on table numbers and raise age limits for casinos, according to a statement posted on the city's official website.
Wynn, Sands and MGM Mirage[MGM
12.08
-0.19
(-1.55%)
]
have invested billions in the only Chinese city where gambling is
legal, hoping to ride double-digit percentage growth in visitors --
particularly from mainland China -- and gaming revenue.
But state-run Chinese media and grass-roots organizations say breakneck expansion has fostered social ills from corruption to prostitution. Beijing, worried about addiction, periodically tries to limit the flow of its tourists.
In a statement on Monday, Macau Secretary for the Economy and Finance Tam Pak Yuen said six major casino operators -- which he did not name -- agreed broadly during a meeting that casino expansion should not be limitless.
"The casino operators have agreed that the scale of the industry should be examined," it read. "The government pledges that we will listen to public and industry feedback before objectively examining the issues," including table numbers.
That comes as more than a dozen hotel, casino and retail operators build on the Cotai Strip -- a 4 sq km (1.5 sq mile) swathe of reclaimed land -- with most due to open in 2010.
Macau's six casino operators include Sands and Wynn Resorts, along with home-grown players Galaxy Entertainment Group and SJM Holdings. The other two are Melco Crown Entertainment -- a joint venture between Melco International Development and Australia's Crown -- and a casino jointly operated by MGM Mirage and local businesswoman/tycoon Pansy Ho.
Spokesmen for Las Vegas Sands had no comment on the government's statement. Wynn declined comment. A spokesman for the Macau government and MGM could not be reached.
Macau's government has signaled its desire to curb the industry's explosive growth. In April 2008, it slapped a moratorium on new casino licenses and a building freeze, a move seen as motivated by an increasingly concerned Beijing.
Riding the Crest
Las
Vegas Sands shares slid as much as 8 percent before ending down 1.8
percent at $17.72. Wynn stock lost as much as 5.6 percent before
finishing off 2.9 percent at $65.88. MGM closed 1.6 percent lower at
$12.08.
"The government's primary concern appears to be distortions in the labor market caused by gaming's rapid expansion," said Susquehanna analyst Robert LaFleur. "This report does not appear to present any threat to the current operators."
U.S. operators have benefited from a surge in visitors to the island, an hour's ferry ride from China and Hong Kong. Sands' Macau arm generated $491 million of revenue in the second quarter -- nearly half its total and twice the Vegas figure.
Underscoring investor interest, Wynn Macau enjoyed a strong debut last week on the Hong Kong Stock Exchange via a $1.63 billion share sale, ending 6 percent higher. The gain boded well for the Las Vegas Sands' own proposed listing later this year.
Macau rocketed onto the global gambling stage following reforms that put an end to a monopoly and awarded licenses to many players that boosted competition.
The Chinese territory generated HK$105.6 billion ($13.5 billion) of gross gaming revenue in 2008, more than double the HK$46.7 billion generated by the Las Vegas Strip during the same period.
Among regulations now under discussion, the government is considering raising the entry age for casinos to 21 years old from 18 and dictating that slot machine halls move away from residential areas and into commercial zones.
In the statement, the government also reaffirmed it was requesting that operators hire locals to staff their establishments, which it said the companies agreed to do.
China
quietly began easing restrictions on citizens traveling from Guangdong
province to Macau earlier this year, top executives told Reuters in
September. It had imposed rules last year limiting them to two trips a
year, prompted partly by reports of officials frittering away millions
of dollars of government funds.
Singapore will be favor !!!! HUAT AH