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They burned the Monte Carlo ... and may get away with it
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Nevada: The Stupid State
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Posted At : March 2, 2009 03:50 PM | Posted By : D McKee
Related Categories:
International,MGM Mirage,Politics,Wall Street,Macau,Texas
Aside from being saddled with out-of-the-way locations, potential Taiwanese casinos will be verboten to visitors from China. Peking has made its feelings known in no uncertain terms. It's difficult to see the point of bothering with casino investment in Taiwan unless it's a meager consolation prize for missing out on Macao.
Besides, for Americans of a certain age, the notion of a casino on Matsu doesn't connote carefree resort living: Believe it or not, the U.S. and China seriously contemplated a shooting war over Matsu and sister island Quemoy. Those two little pieces of offshore real estate were a central issue in the 1960 presidential campaign, as John F. Kennedy and Richard Nixon tried to oudo each other in hawkishness.
Put down the crack pipe: Although Texas is a big state, the notion that casino revenues there could match at least five other states combined (including Nevada) is a tall tale indeed. But if one had to choose between developing in Las Vegas and trying to crack a new regional market, it's quantifiable that the latter is a far greater value proposition nowadays.
Levity is usually an alien concept to the Las Vegas Review-Journal (where the attempts at humor are usually of the "Yer mamma wears army boots" variety). However, Howard Stutz has an amusing take on what your casino stock will or won't buy you. Personally, I consider the box of peanut butter Girl Scout cookies I bought last Saturday a better investment of $3.50 than a share of MGM Mirage, even if the cookies won't appreciate over time. (They do taste much better than a stock certificate, though, and they make your girlfriend happier, too.)
One far-too-typical R-J reader, though takes great umbrage at the notion anyone would make light of the anemic value of the gaming sector. Oh, the effrontery! So bunched up are this guy's tighty whities, he actually threatens Stutz with physical violence. Yeah, everybody's Rambo ... so long they're safely behind a keyboard.
Speaking of MGM Mirage, members of its players club needn't worry about a scam that saw Southwesterners spammed with phony "sweepstakes" winnings from the casino giant. When S&G asked whether there was any correlation between its player database and the recipients of the letter, the reply was the essence of brevity: "No."
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