Wynn Resorts Limited (WYNN) today reported third-quarter earnings of 28 cents per share. Adjusted earnings were 33 cents. The results are ahead of the Zacks Consensus Estimate of 14 cents. The company had earned 49 cents (adjusted earnings of 62 cents) in the year-ago quarter. Net revenues were $773.1 million compared to $769.2 million in the prior-year period. Results were driven by the opening of Encore at Wynn Las Vegas in Dec. 2008. However, due to a challenging economic environment, consumers continued to curb their gambling. Casino revenues in Las Vegas were flat year-over-year, while non-casino revenues increased 18% from the prior-year period, driven primarily by higher hotel and food and beverage revenues from Encore. Though hotel revenues were up as a result of the addition of 2,034 suites at Encore, we note that average daily rate, occupancy levels and revenue per available room (RevPAR) ...

Las Vegas Sands Corporation (LVS) is planning for a Hong Kong initial public offering (IPO) for its Macau assets next month. The company intends to raise up to $2.5 billion through the IPO. The offering is intended to complete in about four weeks after receiving regulatory approval for offering and listing. In September, Las Vegas announced the infusion of up to $600 million of capital through the sale of exchangeable bonds to strengthen up its balance sheet. The bonds will be compulsorily exchanged into common stock of its Macau unit after the unit's pending IPO on the Hong Kong Stock Exchange. Rival company Wynn Resorts (WYNN) held its IPO for its Macau assets earlier in October. Wynn Macau has experienced a strong debut in the Hong Kong stock exchange. Wynn sold 1.25 billion shares or a 25% stake in its Macau business, which represented Hong ...

Las Vegas Sands Corporation (LVS) has announced its intention to infuse up to $600 million of capital through the sale of exchangeable bonds to strengthen up its balance sheet prior to the scheduled Hong Kong initial public offering (IPO) of its subsidiary. The bonds will be compulsorily exchanged into common stock of its Macau unit after the unit's pending IPO on the Hong Kong Stock Exchange. The bonds will mature on September 4, 2014, according to a filing with the Securities and Exchange Commission, for which Goldman Sachs (GS) is the banker. This pre-IPO financing is a part of Las Vegas Sands' current efforts to strengthen its financial position. Recently, the company has amended its $3.3 billion Macau credit facility. The amended agreement would enable it to sell a minority interest in its Macau operations for bolstering cash. Senior secured or unsecured notes can also ...

Yesterday, a unit of United Technologies Corp. (UTX), UTC Fire & Security (UTCFS), increased its stake in GST Holdings Ltd. (GST), the leading fire-alarm system provider in China.

UTCFS, through its affiliate United Technologies Far East Ltd. (UTFE), first acquired 9.9% of outstanding shares of GST in 2006, and then increased it to 29% until 2008. Currently, United Technologies holds 95% of GST common shares and plans to consolidate the company with its existing operations after delisting it from the Hong Kong Stock Exchange.

The acquisition is helping United Technologies to extend its footprint to China, which has lucrative growth opportunities. With its extensive distribution network, strong brand recognition, an experienced management team and a large customer base, GST has been receptive to new technologies that will help accelerate growth in the region.

Despite being negative on the economic recovery, we believe that United Technologies’ continuous efforts to

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The number of Chinese with Internet access is increasing at an astronomical rate – after all right now, the region’s penetration rate is only 17% compared with 75% here in the U.S. And along with that growth, opportunities are emerging for a select few investors to get in on tech growth in the Far East.

Most of the time, backdoor plays offer the largest profits in growth industries like this one. Sometimes, however, a straightforward approach is your best chance at the quickest gains. This is one of those times.

Take China Mobile (NYSE:CHL), for instance. This telecom behemoth is the most obvious play in the region. In the last three years, the company doubled the number of subscribers and grew its bottom line 107%. That’s a rare feat for a $230 billion company.

China Mobile’s growth is impressive, but it’s nothing compared with what a small-cap player can do in this

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Chinese hotpot chain Little Sheep has published its first annual report since it was listed on the Hong Kong Stock Exchange of Hong Kong on June 12, 2008. Though affected by the global financial crisis and the decline of consumer confidence in China, Little Sheep still has an impressive report for 2008. The company's total revenue [...]

I mentioned iShares Hong Kong last week as an interesting play with a new catalyst – the opening of that market to the speculative middle class Chinese who are making the 1999 NASDAQ crowd look tame by comparison.

From CBSMarketwatch this morning: