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Posted At : December 5, 2008 03:30 PM | Posted By : D McKee
Related Categories:
International,Sheldon Adelson,James Packer,Macau,Movies
Or rather, they never left, according to a lurid Daily Mail article, which casts Stanley Ho in the unlikely role of statesmanlike peacemaker. The story begins with the description of a suicide at Sands Macao and makes this prediction: "Next year we can expect the trials, executions and killings that will decide Macau’s future."
Other contentions include the prospect of a Triad war for control of the VIP rooms if and when Stanley Ho dies, as well as the allegation that his STDM corporation is under Peking's scrutiny for possible involvement in money-laundering. Also, Edmund Ho's provincial government is described as sitting atop a $6 billion budget surplus, thanks to casino taxes. If so, small wonder that the Chinese government feels no particular urgency to ramp up Macanese visitation and casino development at the speed Occidental moguls would prefer. (Melco Crown CFO Simon Dewhurst provided even better clarity in remarks given at G2E and reported by the Motley Fool.)
At best, the Daily Mail exposé provides insight into how Macao's Communist overlords look upon the situation there -- and why they're inclined to micromanage its economy. At worst, it raises the spectre of a Triad-related scandal having seriously regulatory blowback for U.S.-based casino companies. Several current Macao concession holders have also been kicking the tires of possible expansion into the Philippines, compared to which Macao is as squeaky clean as Singapore.
On the lighter side, if you're interested in decadent monarchs -- and have a generous amount of spare time -- at hand, Luchino Visconti's Ludwig is like a History Channel marathon with nudity. Or, if you're experiencing Jersey Boys withdrawal, Robert Davi's The Dukes might provide some succor ... provided you're feeling indulgent.
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