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 that his strategy for cracking the market consists of “patience.” What else can he or Harrah’s do when the Chinese government holds all the cards, shows no inclination to open the market to new concessionaires and is currently threatening to revoke planned casino sites if they’re not expeditiously developed?
There’s now speculation that Harrah’s could piggyback its way into the Macao market by taking over moribund Macau Studio City, from which Playboy as well as Taubman have defected. (Studio City’s slogan: “Where Cotai Begins.” No, really.) That would bittersweet, as Harrah’s would have to function simply as developer, hotelier and resort operator — and leave the casino operation (and casino revenues) to someone else. That “someone else” was slated to be Melco Crown Entertainment. Who knew? James Packer may finally make some money off Harrah’s after all.
If you’re staying at Vdara isn’t the whole “saving money” thing somewhat beside the point? It’s a long cab ride to the Whole Foods Market down at Town Square, too.
However, MGM Mirage is cleaning up in the baccarat segment and says it’s up to 47% of Strip market share (from 37%). No word on whose players they’re siphoning away but, based on other factors, I’m guessing it’s mainly the Harrah’s properties.
Battle of Gettysburg, The Sequel:
Hey, Do-Gooder Lady, who ever said casinos had “socially redeeming value”? Ditto for movie theaters, bars, the Indianpolis 500, pinball machines and any movie starring Shannon Tweed. So? And anchorman Leon Harris looks familiar. Isn’t he a refugee from CNN?
Anyway, as a recovering Civil War buff, I have concerns about the project’s proximity to the battlefield and about a lack of infrastructure (particularly with regard to water). But if this is what the burghers want, so be it.
David said, “It’s a long cab ride to the Whole Foods Market down at Town Square, too.”
– Really, now… Isn’t that why you have personal shoppers, personal chefs, or personal assistants to email/fax your grocery & liquor orders to the retail establishments – to be picked up and delivered by your limousine service?
From the article:
“Hotels are installing directional bedside lighting as consumers seek better reading light than those offered by traditional lamps that shine brightest vertically…”
– Hooray! I’m tired of having to drag the tall floor lamp over to the bedside so I can read in bed.
“Some properties are ditching traditional, padded desk chairs for more comfortable ergonomic chairs that can conform to different body types.”
– Hooray again! I guess I have one of those different body types, ’cause I am usually uncomfortable in standard hotel room chairs.
“$577 million golf course”, that’s crazy. I was in Macao and was pretty entertaining, but just for a few days.