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Category Archives: James Packer
Stanley Ho abdicates
So this is how Stanley Ho‘s world ends: Not with a bang but with the ancient casino vizier giving a televised address in which he laboriously delivered lines from a cue card and ceded control of his Sociedade de Turismo … Continue reading
Sheldon’s Chinese box
Sheldon Adelson must have been a good boy this year. Santa left an extra present under his tree, in the form of probable approval by the Macau Land, Public Works & Transportation Bureau of apartment sales at 286-unit Four Seasons … Continue reading
Posted in Current, James Packer, Lawrence Ho, Macau, Melco Crown Entertainment, MGM Mirage, Pansy Ho, Sheldon Adelson, Stanley Ho, Wall Street
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Macao smacks down Adelson
So the Chinese government was just bluffing, huh? Talk about taking land back was merely political posturing, was it? Once again, Wall Street and hubristic casino barons alike have been given a sharp reminder just who’s calling the shots over … Continue reading
G2E bargain at Station; analysts split on Sands
If you’re looking for an affordable room in Las Vegas during Global Gaming Expo, try Expedia‘s German site (“.de”). A European-based S&G source reports finding rooms at Boulder Station going for €57 and Fiesta Rancho asking €59 — or $79 … Continue reading
Twilight of the gods?
It’s been obvious since jump street that MGM Resorts International bit off more than it could chew when it upsized its ambitions for the old Boardwalk site into a civic citadel, a Valhalla on the Strip. Behind CEO Jim Murren‘s … Continue reading
Singapore: Mission accomplished
A curious item popped up on the Manila Web site MB.com last week. Remember how Macao was “Asia’s Las Vegas”? The new meme is “More Than Just the New Vegas” (emphasis added). The lengthy puff piece rather strenuously posited Macao … Continue reading
Posted in Current, Dining, Genting, Harrah's, International, James Packer, Lawrence Ho, Macau, Marketing, Pennsylvania, Regulation, Sheldon Adelson, The Strip, Tourism
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Galaxy Cotai postponed; MGM stages a comeback
It’s not official but, seeing as two top executives at the Macao megaresort (including its COO) just got the chop, it appears pretty likely. A project that was expected to open in late March of next year now looks as … Continue reading
Macao: The fine art of spin
No wonder Steve Wynn and Sheldon Adelson love it in China. Where else are you going to find such a compliant media, able to extract a silver lining from the darkest of clouds. For instance, “cost overruns” are something that … Continue reading
Posted in Current, Economy, Harrah's, James Packer, Lawrence Ho, Macau, Melco Crown Entertainment, MGM Mirage, Pansy Ho, Politics, Regulation, Sheldon Adelson, Stanley Ho, Steve Wynn
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Jump le sharque: Cirque bombs in Macao
After sinking a reported $150 million into Cirque du Soleil‘s Zaia, Las Vegas Sands may find itself in possession of a very expensive “loss leader.” According to The Australian, “attendances [sic] have been poor and tickets have been heavily discounted.” … Continue reading
Posted in Atlantic City, Cirque du Soleil, Current, Detroit, Economy, Entertainment, International, James Packer, Lawrence Ho, Louisiana, Macau, Marketing, Melco Crown Entertainment, MGM Mirage, Mississippi, Pennsylvania, Sheldon Adelson, Steve Wynn, Tourism, Wall Street
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Live, naked girls
Every few days brings a story pitch from some long-suffering PR professional. Today’s mail finds this plea on behalf of IAM Corp.: Since the beginning of online gaming, every other market has flocked to Live Dealer Casinos, but the US … Continue reading
And then there was one
Scarcely had Steve Wynn and Victor Drai parted company than Wynn Resorts issued this curt declaration at 10 a.m. today: Cy Waits has been separated from the company and is free to pursue other interests. Wynn [Resorts] has no further … Continue reading
Venetian Oriental delayed again; Wynn & Drai divorce
Worker-recruitment problems in Macao are worse than Las Vegas Sands has been letting on. The company has now re-postponed its $4 billion, 6,000-room Venetian Oriental into late 2011, with its second phase debuting in mid-2012. The company’s verbiage, however, raises … Continue reading
Reid wusses out; Sucker bets, Sheldon & strippers
UIGEA repeal? Forget about it. Sen. Harry Reid (D-NV) has chickened out again. Pressed on the issue, he said he’d support the legalization of online poker but faintheartedly drew the line there. That still wasn’t good enough for some independent … Continue reading
Posted in Australia, CityCenter, Current, Dubai, Election, Entertainment, Harrah's, Harry Reid, International, Internet gambling, James Packer, Macau, Marketing, MGM Mirage, Morgans Hotel Group, Politics, Regulation, Reno, Sheldon Adelson, Steve Wynn, The Strip, Tourism, Wall Street, World Series of Poker
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New shakeup at Melco; Adelson goes tropical
Those of you for whom Melco Crown Entertainment has been a bumpy ride are about to experience additional turbulence. CFO Simon Dewhurst has stepped down and MPEL board has — rather late in the day — decided “to find a … Continue reading
Business is booming … overseas
At some point, Peking may decide that Macao is overheated but for the moment it’s simply red-hot. Revenues vaulted 70% last month, to the tune of $2 billion U.S. dollars (or $25,435,856,924 Zimbabwean), the second-best number in Macanese history. Wynn … Continue reading
Concord in Massachusetts; Mixed bag at Melco
It’s been leaked to the Boston Globe that a deal is at hand that would resolve the impasse currently holding casino-enabling legislation at bay. While still probably not to Gov. Deval Patrick‘s liking (he wants one racino, the compromise bill … Continue reading
Posted in Arizona, Bally Technologies, Current, Detroit, Economy, Election, IGT, James Packer, Lawrence Ho, Macau, Melco Crown Entertainment, Politics, Racinos, Sheldon Adelson, Slot routes, Steve Wynn, The Strip, Tourism, WMS Industries
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That giant flushing sound …
… you hear coming from the offices of Texas Pacific Group is a 46% writedown of its equity stake in Harrah’s Entertainment. As detailed in the Financial Times (registration req’d), $1.4 billion has turned into $759 million at the stroke … Continue reading
Posted in Current, Economy, Harrah's, James Packer, TV, Wall Street
1 Comment
Cool breeze from Macao; Harrah’s panty raid stymied
One of Stanley Ho‘s lieutenants has scanned the 2010 horizon and doesn’t like what he sees. Sociedade de Jogos de Macau division president Frank McFadden believes VIP play will soften in 3Q-4Q10, as stock-market losses take their toll (a viewed … Continue reading
Harrah’s still pining for Macao
While we’re on the subject of white elephants today, Harrah’s Entertainment still has a little boondoggle in Macao in the form of a $577 million golf course. Cornered by a reporter at G2E Asia, Harrah’s Asian viceroy, Michael Chen, conceded … Continue reading
Posted in CityCenter, Current, Dining, Economy, G2E, Harrah's, history, James Packer, Lawrence Ho, Macau, Melco Crown Entertainment, MGM Mirage, Movies, Pennsylvania, Regulation, Sports, The Strip, TV
2 Comments
Harrah’s $1.5B Bratislava bet; Marina Bay Sands booms; Falcons swoop upon Hilton, etc.
With almost no exception other than The Newspaper That Shall Remain Nameless, a $1.85 billion Metropolis project headed up by Harrah’s Entertainment has flown completely under the radar of the U.S. media ever since its announcement last October. Oh, some … Continue reading