Galaxy Casino Sells $600M Bond To Finance Macau Expansion
DJ Galaxy Casino Sells $600M Bond To Finance Macau Expansion SINGAPORE (Dow Jones)–Macau’s Galaxy Casino S.A. Wednesday raised US$600 million of debt in what is only the second bond from the gaming industry in Asia outside Japan. The deal - also the first high-yield bond from the sector in the region - comprised a US$350 million fixed-rate portion maturing in seven years and callable after four
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- Macau casino firm to market bond from Wed-source
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- Selling the bond
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Gambling history facts:
- Keno, the casino version of lotto, originated in China nearly 2000 years ago when Cheung Heung devised a lottery as a way of raising funds for his province's army.
- The famous banker J.P. Morgan once walked out of a Monte Carlo casino because the stakes were too low? At the time, the maximum wager was 12,000 francs and Morgan wanted it increased to 20,000 francs. When the casino manager refused to increase the limit, Morgan left the casino saying "12,000 francs! I have no time to lose such ridiculous amounts."
- In 1857, Prince Charles III of Monaco decided to introduce gambling to his Mediterranean principality to boost its finances.
- Although the Greeks had a profound understanding of mathematics they had no concept of probability, and assumed that the outcome of games of chance was due to the will of the gods.
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