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’Maxis enjoys its maxi IPO while Hopu pulls out of Minsheng
While the hype about Asian IPOs is largely focused on China and the seemingly endless stream of offerings on the Shanghai and Hong Kong exchanges, Malaysia on Thursday quietly and smoothly staged the region’s largest IPO of the year.
Wynn punts on Asia’s great casino game
The fortunes of some of the biggest US casino operators – and Asia’s gambling hot spot, Macao – seem to be turning after a difficult first half.
Wynn Resorts on Wednesday priced the $1.6bn Hong Kong IPO of its Macao operations at the top end of an indicative range,
Wynn to seek $1.6bn in IPO
Las Vegas-based casino operator Wynn Resorts will seek as much as HK$12.6bn ($1.6bn) based on pricing set over the weekend for a Hong Kong listing of the company’s Macau assets next month, reports the WSJ.
Adelson dilutes stake in Las Vegas Sands
US casino owner Sheldon Adelson has been forced to dilute his controlling stake in Las Vegas Sands to stay solvent after agreeing to buy new shares issued in the group, which owns the Venetian casino. The company on Tuesday said it would push ahead with plans to raise $2.1bn without seeking shareholder approval.
Debt fears hit Las Vegas Sands
Las Vegas Sands shares slid more than 30% on Thursday after the casino operator warned that it risked defaulting on its debt, raising doubts about its ability to continue operating as a going concern, reports the FT.
Sports Direct founder in casino row
Mike Ashley, the controversial founder of UK sports retailer Sports Direct and owner of Newcastle United football club, faces a legal threat to his attempt to acquire Les Ambassadeurs, the plush London casino,