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Posted At : January 14, 2008 03:28 PM | Posted By : D McKee
Related Categories:
Macau,James Packer,Stanley Ho,Current,Tribal
... to publishing heir and budding casino mogul James Packer, for whom another little Packer is en route, courtesy of the stork. Packer could use some good news, what with his stock getting hammered, due to various Macao-related concerns. Spiraling construction costs and the baffling decision to open Crown Macau without the all-important VIP salons didn't help. (More on the handsome property here, here and here [a rave review from VegasTripping.com]). Packer's American strategy, meanwhile, appears scattershot from the outside, but he's managed to get large shares of two Strip projects for relatively little capital outlay, plus a Pennsylvania slot parlor, so it's far too early to second-guess him.
Meanwhile, the Chicago Tribune reports that Peking's thirst for Macanese gambling revenue is overwhelming the enclave's infrastructure. The story's best line? A description of Stanley Ho's Casino Lisboa as possessing "the ambience of a minimum-security prison." (Click on the Lisboa's Web site and you'll get a blank page. At least that's what happened when I tried it.)
Feds boot the ball on compacts. A Feb. 5 referendum on expanded tribal casinos in California may become irrelevant, thanks to Interior Department bungling. Seems that a quartet of compacts went missing for three months. Then, because the federal-review period had expired, the Interior Dept. had to approve them. The department has received several black eyes for its handling of tribal affairs, particularly its close ties to felonious influence peddler "Casino Jack" Abramoff.
Proving you can't please everybody -- or anybody -- Interior has managed to infuriate several tribes through its denial of several land-in-trust applications. By invoking a brand-new set of rules, plus the standard of "commutability," Interior Secretary Dirk Kempthorne has earned the wrath of California's Los Coyotes Band, which deemed his action "cruel and arbitrary." Kempthorne is already at loggerheads with the St. Regis Mohawks for denying the latter a New York State casino on similar grounds.
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