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2009-5-22 01:12:00 p.m. HKT, XFNA
DJ MARKET TALK:Macau Plays Bruised;Tanrich Tips More Pressure N/T
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| 1247 [Dow Jones] Macau plays sharply lower, extending yesterday's falls, on lowered hopes of potential JVs for Macau and U.S. casinos, after U.S. ruling recommending MGM Mirage (MGM) cut ties with Pansy Ho, who owns 50% of MGM Grand Macau. Pansy Ho, daughter of Macau gambling magnate Stanley Ho, says: "I and my advisers will need time to read and consider the contents of the report and decide how best to respond to it in due course." Jackson Wong at Tanrich says, "The news has been adding pressure to Macau stocks, as we can't expect any potential leads from joint ventures between Macau and U.S. casinos for now"; expects these stocks to fall more near term. Shun Tak (0242.HK) down 7.9% at HK$4.22 midday, Melco (0200.HK) down 8.6% at HK$4.92, Galaxy (0027.HK) down 7.8% at HK$2.25. These stocks down 2.3%-9.7% yesterday.(SUT) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
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(Delayed by 1 hour)
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