Core Viewpoint - The company successfully acquired a 24.68% stake in Russian casino operator Kaison Holdings for HKD 718 million, demonstrating strong execution capabilities and potential for performance synergy growth [1][2]. Group 1: Acquisition and Stakeholding - The acquisition price of HKD 1.94 per share represents a 31% premium over Kaison's closing price of HKD 1.48 on April 23 [1]. - After the acquisition, the company holds approximately 27.97% of Kaison Holdings, becoming its largest single shareholder, although it will not consolidate Kaison's financials at this time [1][3]. Group 2: Growth Potential in Asia-Pacific - The company is optimistic about its investments in the Russian gaming sector and aims to leverage its VIP customer resources to enhance performance at the Vladivostok casino [1]. - Projects in South Korea are progressing steadily, with a memorandum of understanding signed with Paradise Company for potential collaboration at Paradise Casino Busan [1][2]. - The company expects its Vietnam and Cambodia projects to start contributing to revenue by the end of 2019 or early 2020, positioning itself as a potential gaming giant in the Asia-Pacific region [1][2]. Group 3: Financial Projections - Revenue is projected to reach HKD 2.29 billion in 2020, with an EBITDA of HKD 1.6 billion [3]. - The company employs a sum-of-the-parts (SOTP) valuation approach, estimating a 12x EV/EBITDA for Vietnam and a 10x EV/EBITDA for the Vladivostok casino [3]. Group 4: Long-term Strategy - The company is adopting a light-asset model for its gaming operations in the Asia-Pacific region, aiming to replicate the success of its previous ventures and move towards becoming a major player in the gaming industry [4]. - The target price has been raised from HKD 1.8 to HKD 3.3, maintaining a "buy" rating [4].

Core Insights - Flutter Entertainment plc is a major player in the sports betting and gaming industry, operating in multiple markets including the UK, Ireland, Australia, and the US, with a diverse product range [1] - The company has established a strong brand presence through its various offerings such as sportsbooks, online games, and peer-to-peer games [1] Analyst Price Targets and Market Outlook - The consensus price target for Flutter Entertainment has shown minor fluctuations, with the average target price recently at $330, down from $336 in the previous quarter, and compared to $333.29 a year ago [2] - Analyst Jed Kelly from Oppenheimer has set a price target of $255, indicating a positive long-term outlook despite potential short-term challenges [2] Factors Influencing Stock Target Price - Regulatory changes in key markets like the US and Europe could significantly impact Flutter's operations and stock target price [3] - Strategic partnerships and expansion efforts are also critical factors that may influence the stock's target price [3] - Upcoming quarterly earnings reports are anticipated to show a potential decline in earnings, prompting investors to closely monitor relevant factors and company announcements [3]

Welcome back. From global gaming to the NBA returning to China, high stakes bets are reshaping Macau. Contessa Brewer is there and she joins us live right now.Contessa, hi there, David. Behind me is the Londoner. It's the big rebuild and rebrand by Las Vegas Sands on the Kotai strip in Macau.A more than $2 billion investment with lots of focus on non-gaming amenities. And SANS, just like its competitors here, have committed collectively to spending $15 billion over the next decade with at least 90% earmarke ...

Transaction Overview - GLPI is acquiring real property assets from Bally's for $1585 billion[5] - The initial cash rent is $1321 million, representing an 83% blended cap rate[5] - The lease term is 15 years with CPI-based rent escalations (10% floor, 20% ceiling)[5] - GLPI has a call option for Bally's Lincoln for $7350 million, with initial cash rent of $588 million[5] Bally's Chicago Investment - GLPI's total investment in Bally's Chicago is $1190 billion, with an 84% blended cap rate[15] - This includes $9400 million in construction financing and $2500 million for land acquisition[15] - The ground lease has a 15-year initial term with an 80% initial cash yield[15] Bally's Kansas City & Shreveport - GLPI is purchasing the real property assets of Bally's Kansas City and Shreveport for $3950 million[31] - The initial cash rent is $322 million, representing an 82% initial capitalization rate[31] - Pro forma rent coverage is projected to be 22x[31] Bally's Lincoln Option - GLPI has an option/call right to acquire Bally's Lincoln for $7350 million, based on an 80% cap rate[37] - The initial annual rent is $588 million, over 20x covered[37]

Core Viewpoint - The article highlights the remarkable journey of a woman named Si Tu Yu Lian, who has navigated the underworld for 40 years without forming alliances, earning respect from even the most powerful figures in the criminal world [1]. Group 1: Background and Early Life - Si Tu Yu Lian was born in a Hong Kong slum, not as a wealthy heiress but as the eldest child in a poor family, facing significant pressure and challenges [3]. - Despite the turbulent social environment, she chose to work in a casino, where her beauty and outgoing personality helped her thrive [3]. Group 2: Personal Life and Relationships - She developed a rich network due to her casino work and eventually married wealthy businessman Zeng Guoyu, with whom she had several children; however, their differing backgrounds led to a tumultuous marriage that ended in divorce [5]. - After leaving her painful past, she moved to Macau, where she focused on her career with renewed energy [5]. Group 3: Career Development and Influence - Many influential figures sought to befriend her, allowing her to choose her connections wisely, including her old friend Hu Xu Yong, who benefited from her resources [7]. - Si Tu Yu Lian's net worth eventually reached billions, and she married a younger gang leader, Jie Shi Wei, further solidifying her status [7]. - She continued to operate in the casino industry, gaining recognition from the gambling tycoon Ho Hung Sun, who found her mysterious and powerful, leading to significant career advancements and ownership of multiple casinos [8].