• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Capital Group spends US$21mln to up stake in Wynn Macau

Dec 04, 2019 Newsdesk Latest News, Macau, Top of the deck  


Capital Group spends US$21mln to up stake in Wynn Macau

Investment management firm The Capital Group Companies Inc has invested HKD166.5 million (US$21.3 million) to boost its stake in Macau casino operator Wynn Macau Ltd.

In late November, The Capital Group bought an additional 9,496,400 shares in Wynn Macau Ltd for an average price of HKD17.537, raising its stake in the casino operator to 8.11 percent, from a previous holding of 7.93 percent. The group controls its stake in Wynn Macau Ltd via a number of its subsidiaries.

U.S.-based casino operator Wynn Resorts Ltd owns a 72.16-percent stake in Wynn Macau Ltd. The Capital Group is the second largest shareholder in Wynn Macau Ltd, according to shareholding disclosures on the Hong Kong Stock Exchange.

The Capital Group operates as an investment management firm. The U.S.-based company offers portfolio management and advisory services to clients worldwide, currently managing more than US$1.8 trillion, according to its corporate website.

In a November report – which looked in detail at the prospects of Wynn Resorts Ltd and Wynn Macau Ltd – brokerage Sanford C. Bernstein Ltd said too much investor focus generally had been on the volatile VIP gambling segment, and not enough on the premium mass one.

The institution suggested the premium-mass segment was more representative of China’s underlying growth and the outlook for discretionary spending by Chinese consumers. It estimated that – despite the Wynn brand’s reputation for specialising in VIP play – the VIP gaming segment would contribute only approximately 20 percent of Wynn Macau Ltd’s earnings before interest, taxation, depreciation and amortisation in 2019.

“Both Wynn Resorts and Wynn Macau are trading at compelling price levels that represent great entry points, which allow investors to own premier global gaming assets with asymmetrical risk/reward set-ups,” said at the time the Sanford Bernstein team.


  • tweet
Related articles
  • Macau ops hail key step of revised gaming law passage
    Macau ops hail key step of revised...

    Jun 22, 2022  

  • Wynn Macau Ltd parent loan not best sign for sector: MS
    Wynn Macau Ltd parent loan not best...

    Jun 15, 2022  

More news
  • Only 2 Macau satellites closed as concessions extended
    Only 2 Macau satellites closed as...

    Jun 29, 2022  

  • LVS full recovery may take until 2024: Moody’s
    LVS full recovery may take until 2024:...

    Jun 29, 2022  


Latest News

Only 2 Macau satellites closed as concessions extended

Only 2 Macau satellites closed as concessions extended

Jun 29, 2022  

Only two of Macau’s 18 satellite casinos – the Rio Casino and the President Casino – have closed amid changes to the city’s regulatory system for such properties, and against...
Read More
LVS full recovery may take until 2024: Moody’s

LVS full recovery may take until 2024: Moody’s

Jun 29, 2022  

Satellite casino ops still to Dec 31 at Casa Real, Grandview

Satellite casino ops still to Dec 31 at Casa Real,

Jun 29, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

"There is still no clarity about when border easing for Macau will occur. In the end these changes are needed to see a rebound for Macau business"

Vitaly Umansky, Louis Li and Shirley Yang

Analysts at brokerage Sanford C. Bernstein



Most Popular

  • SJM to make 2nd of pledged staff subsidy payments for 2022SJM to make 2nd of pledged staff subsidy payments for 2022 June 27, 2022
  • Parisian quarantine hotel as Macau Covid cases near 360Parisian quarantine hotel as Macau Covid cases near 360 June 27, 2022
  • Covid-19 test certificate to enter Macau casinosCovid-19 test certificate to enter Macau casinos June 27, 2022
  • Macau casino Covid tests from Fri, ops pay for staff testsMacau casino Covid tests from Fri, ops pay for staff tests June 28, 2022
  • MGM China gets deal for use of MGM brands renewedMGM China gets deal for use of MGM brands renewed June 27, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us