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Posted At : June 4, 2008 12:06 PM | Posted By : D McKee
Related Categories:
Macau,Sheldon Adelson,James Packer,Stanley Ho,Harrah's
GamingFloor.com Editor Ian Sutton is in Macao for G2E Asia and filing a series of reports from the show floor. He's liked what he's seen of Venetian Macao, which appears to be sucking the lifeblood out of Stanley Ho's nearby Greek Mythology (you know, the Greek-themed casino guarded by Roman centurions).
But the low point so far has been a visit to Galaxy Grand Waldo:
"The unsuccessful punt was on Craps on one of the poorest run games I've ever seen. Dealers stopping the game mid roll to count out money across the come box. Hello! What's the boxman there for! On one particular loosing [sic] roll it was not clear if the shooter actually had a line bet at the time he threw. The news from this operation is that they have recently sacked a number of expat staff so it's odds on that the game conditions and efficiency will deteriorate further."
It's unclear (read: dubious) that Harrah's Entertainment could lever up the billions necessary to buy out Galaxy Entertainment, as has often been proposed, and get a share of the Macanese market. (James Packer's 2.5% interest in Harrah's would also be problematic, as that would give one owner [Packer] a percentage of two of the six concessions.)
But ... could Harrah's run the casinos owned by Galaxy (a construction company that suddenly morphed into a gaming concern when Stanley Ho's Macao monopoly was ended) better than Galaxy does? It's a lead-pipe cinch.
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