Robin Camacho
Las Vegas Real Estate
David McKee
Stiffs & Georges
Jean Scott
Frugal Vegas
Cannery Casino Resorts (29) [RSS]
Melco Crown Entertainment (29) [RSS]
Morgans Hotel Group (32) [RSS]
Pinnacle Entertainment (60) [RSS]
Tropicana Entertainment (90) [RSS]
World Series of Poker (6) [RSS]
Illinois: No country for big casinos
JohnTerez said: What your name? , <a href="http://pdabooks.org/membe... noir wine&l... [More]
Nevada: The Stupid State
PortoM0n said: Don't go far away. , <a href="http://cool-wallpapers.ev... cool wall... [More]
They burned the Monte Carlo ... and may get away with it
JohnTerez said: Try see it. , <a href="http://smart.fm/lists/152... glass supplies</a>... [More]
Nevada: The Stupid State
PortoM0n said: Hi brothers and sisters! , <a href="http://boxesandarrows.com...... [More]
They burned the Monte Carlo ... and may get away with it
SoloJ3ss said: Great... , <a href="http://boxesandarrows.com... to make deer a... [More]
Enter your email address to subscribe to this blog.
alex yemenidjian ameristar animals architecture atlantic city australia baseball boulder strip boyd gaming california cannery casino resorts carl icahn charity cirque du soleil citycenter colony capital colorado columbia sussex cosmopolitan current detroit dining don barden donald trump downtown economy election encore entertainment environment florida fontainebleau g2e george maloof harrah's harry reid herbst gaming horseracing igt illinois indiana international internet gambling isle of capri james packer kansas kentucky labor lake tahoe laughlin lawrence ho louisiana lvcva m resort macau marketing massachusetts melco crown entertainment mesquite mgm mirage michael gaughan mississippi missouri monte carlo fire morgans hotel group movies neil bluhm ohio oscar goodman penn national pennsylvania pets phil ruffin pinnacle entertainment planet hollywood politics problem gambling regulation reno riviera sahara sheldon adelson singapore sports stanley ho station casinos steve wynn tamares group taxes technology the strip tilman fertitta tourism transportation tribal tropicana entertainment tv wall street
Posted At : February 19, 2009 04:50 PM | Posted By : D McKee
Related Categories:
Cannery Casino Resorts,Macau,Regulation,Australia,Melco Crown Entertainment
Now aren't you glad that the Nevada Gaming Control Board and Gaming Commission were so quick to give James Packer the green light to own Cannery Casino Resorts? Not only is he facing an unfolding scandal in Australia, two casinos he co-owns in Macao have been tied into a high-profile bribery case. Whoops.
When asked for comment, Packer's Crown Ltd. passed the buck ($1AU) to Melco Crown Entertainment, in effect dumping the matter in the lap of Packer partner Lawrence Ho. Considering that Packer/Ho's City of Dreams was built on land earmarked for an institution of higher learning -- without even waiting for formal rezoning approval -- this could stir serious backlash in Macao. Foreign-born casino owners are the villain of choice this season, perceived to have their thumbs on the scales of justice.
Who knows? Maybe the younger Ho or one of his associates did grease somebody's palm. However, the casino career of the Packer scion continues to be a catalogue of missteps and misfortunes. Vegas will make short work of him ... if he's still allowed to set up shop here.
I think Packer made a good investment in Fontainebleau. He put in $250 million dollars for a 19.6% ownership. The total cost of Fontainebleau is about $3 billion dollars. When it opens in November of this year I think it will be better than City Center. As you have mentioned previously a definite problem with Fontainebleau is the location which is between the Riviera and the Sahara at the north end of the Strip. With that "party deck" about 80 feet high or so above the Strip and nightclubs and restaurants up near the roof customers in Fontainebleau will have an unbelievable view of the Strip all the way down to Mandalay Bay.
You're right, Paul. I thought it was a steal way back when it was announced and, even with much of that $250 million written off, he still has a disproportionate share of the property. The big question for F'bleau, I think, is whether they can fill the rooms. People will want to *see* it, no question. But customers who want to eat and play there but save some $$ on the hotel room are going to have some much cheaper options nearby.
I think you are correct about the problem Fontainebleau will have filling their rooms. With the Riviera, Circus Circus and Sahara close by most of their rooms will probably be at least 50% less (or half) of the cost of the rooms in Fontainebleau. Thank you for responding to my comment, I appreciate it.
Print | 
Send to Friend | 
del.icio.us | 
Digg It! | 
Linking Blogs |