Although stock blogger Frank Curzio seems to be talking out of one of his lower orifices, his musings are too bizarre not to repeat. He floats 
the notion that Apple is so flush with cash it might entertain some retail therapy in the form of MGM Resorts International, Wynn Resorts and Las Vegas Sands. Or at least has enough money to do it and “have a near-monopoly on the gaming industry.” (I’ve never understood the perennial Wall Street mentality of, “We’ve got all this money lying around, we just have to spend it.” Uh, no, you don’t. Have learned nothing from the Great Recession?)
Whoa there, cowpoke Curzio. Steady on, man. There’s only one place in the U.S. where that would be true and that’s the Las Vegas Strip. Of course, if Steve Jobs attempted such a clean sweep, the antitrust implications for the Strip are so obvious that, while the oligopoly lovin’ Nevada Gaming Commission would fall in a maidenly swoon at Jobs’ feet, the Federal Trade Commission would be certain to take a dimmer view. And it’s be one occasion where S&G would huff and puff right alongside Gary Loveman, whose well-exercised hackles would rise to record heights.
Where Curzio’s — or Apple’s? — idea really comes a-cropper is in Macao. Does anyone familiar with the situation over there think for a moment that the Chinese government is going to allow three of the six casino concessionaires — three American ones — to be rolled into one super-concession with at least a 45% market share? Consider that, thanks to Lawrence & Pansy Ho, interlocking minority ownerships already yoke MGM Grand Paradise to Sociedade de Jogos de Macao and thence to Melco Crown Entertainment. Merge Sands, MGM and Wynn, and you’ve effectively reconstituted the old monopoly … with Galaxy Entertainment the lone, small holdout.
A likelier scenario is you’d have to spin off Sands China and Wynn China — or one of them plus MGM’s share of Grand Paradise (above), whereupon you’ve defeated the point of the exercise. A heavy presence in Las Vegas but a light one in Macao makes no economic sense anymore.
The doctor has seen you now, Mr. Curzio. That will be five cents, please.
