Another dagger blow was dealt this week to the staggering Pacific Rim fortunes of Las Vegas Sands. Its Cotai Waterjets ferry service in Macao has had its contract voided, although the Macanese courts will allow the hydrofoils to remain in operation until the appeals process has run its course.

If Sheldon Adelson's ferry fleet is beached, that leaves water-borne transportation to Macao in the hands of archnemesis Stanley Ho. That ancient casino vizier doubtless supped upon a cold dish of revenge upon hearing the news of Adelson's latest reversal of fortune. As for Adelson, about the only comfort he can salvage is that Secretary of State Hillary Clinton is singing psalmody from his "let's appease the nice ChiComms" hymnal now.

Speaking of carrying water, Ho's Astroturf "grass roots" ally, Concerned Macau Residents Group, continues to push the line that Adelson's asset sales in Macao must be stopped lest they destabilize the local real estate market. (Which sounds like an odd bugaboo for an allegedly ad hoc group of citizens to have at the forefront of its agenda ... but it sure would be a logical concern for a rival magnate like one S. Ho.)

In making its case, CMRG read right off the Stanley Ho script. So word-for-word was its delivery, in fact, that group leaders had to concede they "shared the same view with Stanley Ho who also made comments recently in response to the sale of the Four Seasons apartment hotel." Boy, I haven't seen such poor ventriloquism since those old Edgar Bergen/Charlie McCarthy movies.

Adelson is also encountering headwinds in the construction of Marina Bay Sands, which has shot $2.2 billion over budget. (Yes, that's "billion" with a "B.") You could build a pretty awesome Vegas megaresort from the cost overrun alone. Either Sands seriously "misunderestimated" this project or let it get completely away from them. Either way, with a $5.4 billion tab it simply beggars credulity that is going to be the world's most profitable casino, as has been claimed.

Yes, Singapore's population base far outnumbers of that of Macao. Big deal. When the guvmint is planning to charge citizens and permanent residents $65 a day to get into a casino -- and isn't backing down -- that's a near-insuperable obstacle to overcome. I heard quite a bit of skepticism when Singapore's "integrated resort" concept was rolled out and there seems to be little reason to change that outlook as runaway costs for both Marina Bay Sands and the rival Genting megaresort begin to suggest this could be the Heaven's Gate of gaming markets.

On the subject of movies, with illegal immigration being a hotter-button issue than ever, you'd think Gregory Nava's 1983 El Norte would own ever greater relevance today. Think again.