Author Topic: 296.HK - Emperor Entertainment Hotel Ltd  (Read 8353 times)

s8019

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Re: 296.HK - Emperor Entertainment Hotel Ltd
« Reply #20 on: November 01, 2017, 05:19:47 AM »
I googled Macau casion license renewal. I have no idea though what is going on there.

http://macaudailytimes.com.mo/legislative-assembly-davis-fong-acknowledges-role-gaming-license-renewal.html


heisenberg

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Re: 296.HK - Emperor Entertainment Hotel Ltd
« Reply #21 on: April 20, 2018, 02:26:48 AM »
Buy-backs started
Now, cheap with a catalyst

http://iis.aastocks.com/20180419/003115627-0.PDF

Concerning the license renewal, if smaller casinos are given the opportunity to bid so they have the necessary cash
If not, they will remain a satellite of SJM and SJM is likely to get its renewal

Next event is the AGM in June, I will be present

serendibz

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Re: 296.HK - Emperor Entertainment Hotel Ltd
« Reply #22 on: April 20, 2018, 03:36:08 PM »
Buy-backs started
Now, cheap with a catalyst

http://iis.aastocks.com/20180419/003115627-0.PDF

Concerning the license renewal, if smaller casinos are given the opportunity to bid so they have the necessary cash
If not, they will remain a satellite of SJM and SJM is likely to get its renewal

Next event is the AGM in June, I will be present

Don't count on the share buybacks amounting to anything significant. Their last share buyback was in 2008 of around 22m shares, and did not reduce share count by a meaningful percentage.

In general, I hardly see any HK listed companies who are anywhere near as cannibalistic as their US counterparts. It idea of share buybacks has not really caught on in this region yet.

heisenberg

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Re: 296.HK - Emperor Entertainment Hotel Ltd
« Reply #23 on: April 21, 2018, 05:11:26 PM »
You are right but contrary to U.S stocks they give you higher dividends yields.

Since dividends in HK come tax-free, I don't have a strong preference between buy-backs and dividends.

In Emperor case, they offer 4.7% yield, if they top that with say 2.3% of buy-backs a year, it gets me a 7% return a year.

7% a year on a stock valued where it is {ev/ebitda=1.7, p/b=0.65}, consistently profitable and no leverage, in the current market is all I ask for

Another small cannibal is 635.HK, share count reducing 5 years in a row on top of a 5.5% dividend yield, same kind of play