Showing posts with label control. Show all posts
Showing posts with label control. Show all posts

Thursday, May 5, 2011

North wild fires 'under control'

4 May 2011 Last updated at 06:10 GMT Helicopter water bombing at Sheil Bridge. Pic: Ian Gordon A helicopter used to water bomb fires in the area around Sheil Bridge A series of wild fires which have been burning across the Highlands are now under control, firefighters have said.

Crews have been out overnight at the worst affected areas, including at Inverkirkaig near Assynt, Torridon and Glen Shiel.

After days of battling to control the flames, using both beaters and helicopters dropping water, the worst blazes have been extinguished.

Homes were evacuated over the past five days and the A82 was closed briefly.

Efforts will now get under way to assess the scale of the damage as forest regeneration projects, croft land and sensitive environmental sites with rare wildlife have all been hit.


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Thursday, April 14, 2011

MGM to control its Macau casino

14 April 2011 Last updated at 01:02 GMT MGM Grand Macau Takings in Macau have soared in recent years making it the biggest gambling market in the world MGM Resorts International has reached a deal with its partner Pansy Ho to take a controlling stake in their Macau casino joint venture.

They have also agreed to an Initial Public Offering (IPO) of some of its shares on the Hong Kong Stock Exchange

Under the deal, MGM will get a 51% stake in the IPO, Pansy Ho will receive 29% of the shares and the remainder will be sold to investors.

The two partners currently each hold 50% of the venture.

MGM owns some of the biggest casinos in the US, while Pansy Ho is the daughter of Macau mogul Stanley Ho, the largest casino operator in Macau.

No date has yet been finalised for the launch of the IPO.

'Very strong' Continue reading the main story
Macau is very strong, and it will now be a more meaningful contributor to MGM's results”

End Quote Chris Jones Telsey Advisory Group MGM shares surged by more than 8% in New York.

Once it becomes the majority shareholder, MGM will be able to include the revenue and profit from its Macau operation in its balance sheet.

Gaming revenues in Macau have soared. Last year it reported at 57% rise, with total revenue of $23.5bn (£15.2bn).

Only six companies have licenses to operate casinos in Macau.

Analysts say they are expecting a big impact on MGM's earnings once the deal has been finalised.

"The market likes it," said Chris Jones of Telsey Advisory Group

"Macau is very strong, and it will now be a more meaningful contributor to MGM's results," he added.


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