Macau The Gambling Mecca

[Thomas Promise]

Macau is the only location in China where gambling is legal, and millions of tourists flock to the territory each year. The city has also attracted unsavory elements often associated with the industry, including money launderers looking to evade limits on moving cash out of China.

 

 

 

http://money.cnn.com/2014/01/06/news/macau-casino-gambling/index.html?iid=HP_LN

[Randy W]

If you want to get in on the action, check out ticker symbol LVS, a highly recommended stock on the New York Stock Exchange.

[danb]

We went to Macau a few years ago. It was a nice place to visit but Las Vegas has a lot more shine and glitter to it. But some of the casinos were very nice. The city itself was interesting to see. Not a typical Chinese town. Danb

[Mick]

When I live in China, one of my solo trips (traveling without my wife along to translate and protect me) was to Macau. I stayed in Zhuhai, took the jetfoil over to Hong Kong, then took the jetfoil back to Macau. I really enjoyed the city. I didn't do any gambling, but visited a few casinos and other areas of historic interest. The Portuguese influence is very apparent.

[Randy W]

in the SCMP

 

While Macau loses its lustre, a Cambodian casino bets on Chinese tourists to hit jackpot

Hong Kong-listed NagaCorp is counting on Chinese tourists to boost gaming revenue at its Cambodian casino, as the country targets 2 million Chinese visitors by 2020

 

 

https://www.facebook.com/scmp/videos/10155829693654820/

“My vision is of Naga as a dragon. It curves around China [...] and the north-eastern part of Russia, and the north of Mongolia,” said Chen, one of Malaysia’s wealthiest businessmen, with a net worth of US$1.6 billion.

 

The company is pushing forward the construction of a casino resort near the Russian Far East city of Vladivostok, about 180 kilometres from northeast China.

 

[Randy W]

 

in the SCMP

 

While Macau loses its lustre, a Cambodian casino bets on Chinese tourists to hit jackpot

Hong Kong-listed NagaCorp is counting on Chinese tourists to boost gaming revenue at its Cambodian casino, as the country targets 2 million Chinese visitors by 2020

 

 

 

“My vision is of Naga as a dragon. It curves around China [...] and the north-eastern part of Russia, and the north of Mongolia,” said Chen, one of Malaysia’s wealthiest businessmen, with a net worth of US$1.6 billion.

 

The company is pushing forward the construction of a casino resort near the Russian Far East city of Vladivostok, about 180 kilometres from northeast China.

 

 

 

I've never bought on the OTC, but I thought I'd try it and see how it works out.

 

I bought 50 shares of NGCRY (NagaCorp ADR) at $41.62 - this was its entire activity for the day. The actual transaction doesn't even show here, except for the volume.

 

I had initially entered a bid of $41.00. ONLY after I posted the trade, it showed that shares were available at an ASK price of 41.65, so I changed my bid to that. They immediately went through at the $41.62 price.

 

Previous Close 40.40

Open 0.00

Bid 0.00 x 0

Ask 0.00 x 0

Day's Range 0.00 - 0.00

52 Week Range

Volume 50

Avg. Volume 32

 

 

But on the Hong Kong stock exchange it's a little more active at about 6.9 million shares a day - https://www.bloomberg.com/quote/3918:HK

 

We'll see how it turns out.

[Randy W]

 

 

 

I've never bought on the OTC, but I thought I'd try it and see how it works out.

 

I bought 50 shares of NGCRY (NagaCorp ADR) at $41.62 - this was its entire activity for the day. The actual transaction doesn't even show here, except for the volume.

 

I had initially entered a bid of $41.00. ONLY after I posted the trade, it showed that shares were available at an ASK price of 41.65, so I changed my bid to that. They immediately went through at the $41.62 price.

 

Previous Close 40.40

Open 0.00

Bid 0.00 x 0

Ask 0.00 x 0

Day's Range 0.00 - 0.00

52 Week Range

Volume 50

Avg. Volume 32

 

 

But on the Hong Kong stock exchange it's a little more active at about 6.9 million shares a day - https://www.bloomberg.com/quote/3918:HK

 

We'll see how it turns out.

 

 

 

Just checked - it still shows a value of $40.40, but the Bid and Ask are changing - still just 50 shares volume for the entire week so far

 

Bid 41.52 Ask 42.48 B/A Size 20000x20000

 

I have found out that eTrade and a handful of brokers DO trade on the Hong Kong exchange, so I may look into that also.

[Randy W]

Just checked - it still shows a value of $40.40, but the Bid and Ask are changing - still just 50 shares volume for the entire week so far

 

Bid 41.52 Ask 42.48 B/A Size 20000x20000

 

I have found out that eTrade and a handful of brokers DO trade on the Hong Kong exchange, so I may look into that also.

 

 

Nope - I opened an eTrade account, only to find out they no longer support International exchanges. Regulation of these things is tightening, so they dropped it back in July.

 

I think Charles Schwab still supports it, but only in the local currency (i.e., HKD).

 

So it looks like the ADR's (what I've already purchased) are the only way to do it for a casual investor like myself, unless your spouse wants to invest through Chinese or Hong Kong brokerages.

 

 

From Hong Kong online brokerage fee comparison table

5) Most Hong Kong stockbrokers are likely to accept non-resident clients, but US citizens or residents may have difficulty opening an account abroad, as usual.

 

 

In Investopedia - American Depositary Receipt - ADR

To offer ADRs, U.S. banks simply purchase shares from the international company and reissue them, typically on U.S. exchanges. An ADR may represent the underlying shares on a one-for-one basis, or it may represent a fraction of a share or multiple shares. The depositary bank sets the ratio of U.S. ADRs per home-country share at a value that is appealing to investors. If an ADR’s value is too high, it could deter some investors, but if it is too low, investors may think they are like riskier penny stocks.

 

 

 

I've purchased ADR's before, but nothing this obscure.

[Randy W]

 

 

 

 

I've never bought on the OTC, but I thought I'd try it and see how it works out.

 

I bought 50 shares of NGCRY (NagaCorp ADR) at $41.62 - this was its entire activity for the day. The actual transaction doesn't even show here, except for the volume.

 

I had initially entered a bid of $41.00. ONLY after I posted the trade, it showed that shares were available at an ASK price of 41.65, so I changed my bid to that. They immediately went through at the $41.62 price.

 

Previous Close 40.40

Open 0.00

Bid 0.00 x 0

Ask 0.00 x 0

Day's Range 0.00 - 0.00

52 Week Range

Volume 50

Avg. Volume 32

 

 

But on the Hong Kong stock exchange it's a little more active at about 6.9 million shares a day - https://www.bloomberg.com/quote/3918:HK

 

We'll see how it turns out.

 

 

 

Just checked - it still shows a value of $40.40, but the Bid and Ask are changing - still just 50 shares volume for the entire week so far

 

Bid 41.52 Ask 42.48 B/A Size 20000x20000

 

I have found out that eTrade and a handful of brokers DO trade on the Hong Kong exchange, so I may look into that also.

 

 

 

Interesting - two weeks later. The total volume for the two weeks was, get this, FIFTY SHARES!

 

But the bid and ask have crept up to:

 

Bid/Ask

44.48 / 45.54

B/A Size

200 X 200

 

which I believe means that I could sell my shares NOW at 44.48.

[Randy W]

 

 

in the SCMP

 

While Macau loses its lustre, a Cambodian casino bets on Chinese tourists to hit jackpot

Hong Kong-listed NagaCorp is counting on Chinese tourists to boost gaming revenue at its Cambodian casino, as the country targets 2 million Chinese visitors by 2020

 

 

 

“My vision is of Naga as a dragon. It curves around China [...] and the north-eastern part of Russia, and the north of Mongolia,” said Chen, one of Malaysia’s wealthiest businessmen, with a net worth of US$1.6 billion.

 

The company is pushing forward the construction of a casino resort near the Russian Far East city of Vladivostok, about 180 kilometres from northeast China.

 

 

 

I've never bought on the OTC, but I thought I'd try it and see how it works out.

 

I bought 50 shares of NGCRY (NagaCorp ADR) at $41.62 - this was its entire activity for the day. The actual transaction doesn't even show here, except for the volume.

 

I had initially entered a bid of $41.00. ONLY after I posted the trade, it showed that shares were available at an ASK price of 41.65, so I changed my bid to that. They immediately went through at the $41.62 price.

 

Previous Close 40.40

Open 0.00

Bid 0.00 x 0

Ask 0.00 x 0

Day's Range 0.00 - 0.00

52 Week Range

Volume 50

Avg. Volume 32

 

 

But on the Hong Kong stock exchange it's a little more active at about 6.9 million shares a day - https://www.bloomberg.com/quote/3918:HK

 

We'll see how it turns out.

 

 

 

It's still in the news

 

 

Total volume of NGCRY.PK for Nov AND Dec? FIFTY SHARES!

[Randy W]

 

 

 

 

 

I've never bought on the OTC, but I thought I'd try it and see how it works out.

 

I bought 50 shares of NGCRY (NagaCorp ADR) at $41.62 - this was its entire activity for the day. The actual transaction doesn't even show here, except for the volume.

 

I had initially entered a bid of $41.00. ONLY after I posted the trade, it showed that shares were available at an ASK price of 41.65, so I changed my bid to that. They immediately went through at the $41.62 price.

 

Previous Close 40.40

Open 0.00

Bid 0.00 x 0

Ask 0.00 x 0

Day's Range 0.00 - 0.00

52 Week Range

Volume 50

Avg. Volume 32

 

 

But on the Hong Kong stock exchange it's a little more active at about 6.9 million shares a day - https://www.bloomberg.com/quote/3918:HK

 

We'll see how it turns out.

 

 

 

Just checked - it still shows a value of $40.40, but the Bid and Ask are changing - still just 50 shares volume for the entire week so far

 

Bid 41.52 Ask 42.48 B/A Size 20000x20000

 

I have found out that eTrade and a handful of brokers DO trade on the Hong Kong exchange, so I may look into that also.

 

 

 

Interesting - two weeks later. The total volume for the two weeks was, get this, FIFTY SHARES!

 

But the bid and ask have crept up to:

 

Bid/Ask

44.48 / 45.54

B/A Size

200 X 200

 

which I believe means that I could sell my shares NOW at 44.48.

 

 

 

Yay! Someone just bought 100 shares, making the total volume for three months - 150 shares! Price is $46.31, with Bid/Ask 47.75 / 50.00

[Randy W]

On 11/21/2017 at 1:31 PM, Randy W said:

 

I've never bought on the OTC, but I thought I'd try it and see how it works out.

 

I bought 50 shares of NGCRY (NagaCorp ADR) at $41.62 - this was its entire activity for the day. The actual transaction doesn't even show here, except for the volume.

 

I had initially entered a bid of $41.00. ONLY after I posted the trade, it showed that shares were available at an ASK price of 41.65, so I changed my bid to that. They immediately went through at the $41.62 price.

 

Previous Close 40.40

Open 0.00

Bid 0.00 x 0

Ask 0.00 x 0

Day's Range 0.00 - 0.00

52 Week Range

Volume 50

Avg. Volume 32

 

 

But on the Hong Kong stock exchange it's a little more active at about 6.9 million shares a day - https://www.bloomberg.com/quote/3918:HK

 

We'll see how it turns out.

 

The stock went as high as $84 - $92 in 2019, but I held on, expecting it to go higher when their Vladivostok casino opened. But it took a hit from COVID, and with China continuing to crack down on things, I decided it was time to dump it at a small profit.

The ADR apparently kept 100 or 200 shares for sale or purchase on the OTC at bid and ask prices determined by their value on the Hong Kong stock exchange. Each of my transactions ( two buys and 1 sell) went through immediately.

When your transaction is the only one that goes through on a particular day (the summary is Yahoo Finance's summary for the day) . . .

Edited December 2, 2021 by Randy W (see edit history)