Quote of the Day

“The original Lisboa project marks a rare occasion that SJM subscribed to the build-it-and-they-will-come theory of development that drives most of its rivals. The tactic usually involves spending borrowed money like a drunken sailor in an attempt to lead the market where the developer hopes it will go, rather than following the market.” — Macau Business correspondent Muhammad Cohen, extolling the business models of Stanley Ho, particularly his low-cost ($194 million) Oceanus project.