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Macao: Not so fast?

Posted At : October 3, 2008 09:29 AM | Posted By : Administrator
Related Categories: Macau,MGM Mirage,Colorado,Wall Street,Kansas,Steve Wynn,Sheldon Adelson

Here's a how-de-do, to paraphrase Gilbert & Sullivan. The head of the Travel Industry Council of Macau appears to confirm a report that many Chinese citizens will now be restricted to visiting the former Portugese colony on a quarterly basis. But ... Blogmacau got in touch with the authorized agency that handles visiting permits to Macao, Guangdong Post. The latter told Blogmacau that no such instructions had been received. This may explain why the selloff of MGM Mirage, Las Vegas Sands and Wynn Resorts stock has slowed today.

Meanwhile, visitation to Macao during the Golden Week holiday is up 9% this year. Oh, and the city has a housing-bubble crisis of its very own. It's becoming more and more like Vegas every day.

Cherokee back on the block. The magic date for submitting new bids on the Cherokee County, Kan. casino concession (whew!) is Jan. 21, 2009. That means you've got 90 days, folks, to get your $225 million casino proposal (plus a modest $25 million application fee) in order.

The price of entry may come down a bit -- like 80% -- if Phil Ruffin can convince the Kansas Lege to reduced the mandated level of investment to $50 million. If so, he plans to pitch a racino for a defunct dog track near Frontenac, Kan. Does this mean gambling in Kansas is already going to the dogs? <rimshot> I'll be here all weekend, folks.

P.S. Ruffin is swimming in $1.2 billion, after he took Elad Properties to the cleaners on that New Frontier sale. He might not be the best person to carry the message that casino development in southeastern Kansas is currently unaffordable.

That'll teach 'em! Cripple Creek, Colo.'s Midnight Rose Hotel & Casino was found to have violated Colorado's smoking ban by allowing players to smoke them if they've got them. The penalty was a whopping $100. Plus court costs. (The maximum penalty is $200.) Ouch! The Midnight Rose must be just reeling in pain. Let that be a lesson to all you scofflaws out there.

Dr. Hammergren's House of Horrors. Even in a city that is currently home to the likes of Michael Jackson and Siegfried & Roy, there is no more colorful character like Dr. Lonnie Hammergren, brain surgeon and former lieutenant governor. If he didn't exist, a novelist would have to invent him. If you're not familiar with this only-in-Vegas phenomenon, here's a quick video primer, although nothing compares to the in-person experience and words will never provide an adequate description.

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