Global Casino BOOM

Lets see…world stock indices are plummeting…global credit crisis bringing world’s largest banks to their knees…get the point?

The point is there’s not a whole lot to report on the financing front, but that hasnt stopped the Ho Tram Strip’s Asian Coast Development from talking about a large potential IPO and debt offering.  Might as well wet everyon’s whistle well in advance so they can strike when the markets open up to them.

From Reuters: 

The South China Morning Post cited chairman Mike Aymong as saying on Monday he would prefer a Hong Kong share offering because of strong investor appetite there for gambling firms.

Aymong was also quoted as saying the firm had prepared an $800 million to $900 million debt offering, but planned to ride out the global financial storm before taking it to market.

“You’d have to be a fool not to be concerned about the marketplace, so we just have to pick our timing and pick our price,” the newspaper cited Aymong as saying.

“We’ve got enough money where we can start the pre-construction and start building, and when the market opens back up, we’ll go out and do the debt offering.”

The article actually has a bit of a cautious tone since Macao gaming revenues are slowing.  I personally think that’s a load of crap.  Macao is slowing because of travel restrictions.