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It's been a rumor roller coaster all week in the online gaming industry. So to help your heart stop racing from the thought of seeing your Full Tilt funds again, Inside Gaming has all the scintillating details from quarterly reports' season. Enjoy!
Sands Has Record Quarter Thanks to Asia, but Not Enough for Sands China
The Las Vegas Sands Corp. first quarter revenue nearly doubled from the same period in 2011 thanks to a huge boost from its three resorts in Macau and the Marina Bay Sands in Singapore. But while Las Vegas Sands rode Asian profits to an increase in stock price, Sands China's price on the Hong Kong stock exchange fell as it missed its quarterly earnings estimates.
During the first three months of the year, Las Vegas Sands booked $2.76 billion in revenue, 83 percent of which came from Asia. The Marina Bay Sands alone averaged $4.47 million a day. Net income for the quarter was $498.9 million, an increase of 72 percent over the first quarter of 2011.
In what would be a blockbuster deal, Gold’s Gym International (GGI) is in discussions to pick up Bally Total Fitness , multi-part sources discuss it Club Industry .
The talks have been going on for about a month, and they are intensifying, according to sources. One source described the merger discussions as “hot and complicated and real.”
Bally CEO Michael Sheehan says he initial listened rumors about the merger final week.
“Our broad draw close is to not reply to rumors,” Sheehan told Club Industry .
JP Morgan Chase Bank, the primary owners of Bally, Chicago, declined criticism for this story. So, too, did a high-ranking authorized at GGI, Irving, TX.
The insufficient of open explanation from Bally and Gold’s has not stopped conjecture about an acquisition, when it would take place and what it would meant is to industry. One source says a treat could obtain completed in the next month, around the time of GGI’s authorization gathering July 18-20 in Las Vegas. Another attention spectator says a treat might not be voiced for other 60 to 90 days. If a treat materializes, the two companies would must be obtain property owner consents to close the transaction.
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