Macao Casinos

Macao will soon surpass Las Vegas as the gambling capital of the world. Which players stand to benefit? This site tracks all the players: Gambling Floor. Here is a summary, sorted by market cap:

• $38 billion - LVS - Las Vegas Sands - Will have the most tables and floor space and plans to be the market leader in Macao with the Venetian by 2006. Modest player in the Las Vegas market.
• $20 billion - MGM - MGM / Mirage - By far the largest player in Vegas; owns almost every major casio you've heard of. Is building a 50% owned MGM Grand in Macao to be opened in 2006. The partner is Stanley Ho's daughter. This one is the closest to a value play within the group. MGM is half owned by a billionaire who would like to buy out the whole business.
  
• $11 billion - WYNN - Wynn - Targeting the higher end clients. Has a primary license to the land straight from the Macao government, and is an early player in the market.
  
• $8 billion - MPEL - Melco - Will be the #2 in number of tables once the "City of Dreams" is opened in 2007. Has the most slots with its Mocha club franchise. IPO was less than one month ago. Has effectively no revenues until City of Dreams is ready.