Casino billionaires from Macau witnessed their destiny fall after 2015’s 34.3% drop in the profits of Macau’s casinos. The turn down also influenced stock rates of Macau’s six casino allowance holders. Following a stable flow both in casino revenues and stock prices in early 2014, the shares of 6 concessionaires’ lost their worth by two-thirds approximately. Mohammad Cohen from Forbes retorted that visibly rich from Macau are not going to remain as rich as before.
Six casino houses from Macau such as Wynn Macau, SJM Holdings, Sands China, MGM China, Melco Crown Entertainment, and Galaxy Entertainment suffered following the crash of their share worth by approximately 46%. Hong Kong listed down the five concessionaires (except Melco Crown) and entirely traded on Nasdaq. An auxiliary body of the Wynn Resorts led by Steve Wynn, Wynn Macau had the most terrible year in 2015, after a 59% of fall in its shares prices. Another auxiliary body of the Las Vegas Sands, Sands China which is lead by Sheldon Adelson (a billionaire), also witnessed a fall of 30% in its stock prices.
Share prices of Melco Crown dropped by around 34% – but the crash was reduced by the aperture of Philippians city Manila. The Co-chairman of Melco, Lawrence who witnessed his destiny beat by a fall of 22%. From 2014, his destiny’s value previously declined by 54%. At present, he worth approx $1.57 billion. Pansy Ho is the sister of Lawrence who is the largest and most powerful sole investor in MGM China, also experienced a harsh turn down, falling from approx $6.8 billion to approx $3.6 billion in 2014.
Last year when MGM China has experienced the decline in its share value by 51%, Ho has been defeated by the most rich lady of Hong Kong, Pollyanna Chu from Kingston Financial at around $4.1 billion, and Vivien Chen from Nan Fung Group at around $5.1 billion.
Angela Leong, another family member of Ho’s, who is the managing director of SJM also experienced the fall of her fate by approx $250 million to approx $1.5 billion following SJM shares declined by55% preceding year. But because Angela has spreaded her savings to comprise Hong Kong realty, she appears to have experienced less loss rather than other family members. Cheng Yu-tung, 90 year old guy, who possess SJM shares via his bet in “Sociedade de Turismo e Diversoes de Macau” looks to have gnarled the monetary collapse of casinos. His family destiny of about $15 stays stable because of his varied groups which consist of jewelry interests and property holdings.
Casino industrialists prop for one more year of coarse sailing in current year according to the prediction that gaming revenue in Macau will fall by approx 10% before year ends.
