Welcome to the International Marketplace Report. Every week we'll be bringing you the ups and downs of the International, and online gaming market. Because really... why read the financial wires when we can do it for you.
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Action in Macau
The Las Vegas Sands Corp., (owners of Sands Macau and Venetian Macau), have received a short-term infusion of $600 million from Goldman Sachs to stabilize the company's asset value before it goes public with a Macau IPO. According to a recent Wall Street Journal article by Jonathan Cheng, it appears as though the company is getting plenty of interest from Hong Kong investors. Apparently the bonds for this venture will be exchanged for common shares of the parent company at a 10% discount when the venture starts trading publicly.
According to Las Vegas Sands Corp's president, Michael Leven, this move was designed to help the company in the near future by making its stock more attractive. "The actions we have taken in recent weeks, together with the right-sizing of our cost structure and our on-going efforts to implement efficiencies across our operations, have clearly helped to strengthen our balance sheet," he said, according to Cheng's article.
PlayTech Strengthens Their Bank Roll
According to a Reuters report, online casino and software developer Playtech has seen a sizable increase in its stock portfolio thanks to the revenue from this year's first-half performance. The poker powerhouse saw a 33% increase in earnings during this period thanks to new licensees, increased regulated market growth and the company's broad range of products. The company's stock listing increased by 4% thanks to its successful first half. Possibly the biggest reason for the company's good fortune is the group's diversified portfolio; it licenses 70 sites and has strong ties in Italy, France and Spain.
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