{"id":12117,"date":"2013-11-21T10:52:41","date_gmt":"2013-11-21T18:52:41","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=12117"},"modified":"2013-11-21T10:52:41","modified_gmt":"2013-11-21T18:52:41","slug":"discord-over-macao-harmony-at-mgm","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/discord-over-macao-harmony-at-mgm\/","title":{"rendered":"Discord over Macao, harmony at MGM"},"content":{"rendered":"

\"macao1952\"<\/a>If there’s anything murkier than the gambling subculture of Macao<\/strong>, it’s the report on same issued by\u00a0\u00a0U.S.-China Economic Security Review Commission<\/strong>. Its conclusion that money laundering “might be out there” won’t come to a shock to anyone. U.S. casino companies received an equivocal bill of health<\/a>, with the commission saying that it didn’t find any evidence of wrongdoing — but didn’t look for it either. It did suggest federal oversight of Sands China<\/strong>, Wynn Macau<\/strong> and MGM Grand Paradise<\/strong>, although there has been no evidence to date that state regulatory bodies are failing to handle this role perfectly well.<\/p>\n

Big Gaming wasn’t even<\/strong> asked to provide its perspective. The commission received 11th-hour input from MGM and Wynn, but at the behest of those companies. The investigative body also didn’t deign to actually visit Macao, and get an up-close-and-personal look, although its \"Freeman\"<\/a>recommendation of lowering the threshold on suspicious cash transactions seems entirely reasonable. American Gaming Association<\/strong> President Geoff Freeman<\/strong> was quick to pan the commission’s (un)finished product as “flawed.” (Its methodology certainly isn’t airtight.) Commission member ex-Sen. James Talent<\/strong> countered with the specter of terrorist and drug money being washed through casino cages. There are definitely some hot-button scare factors that the word “Macao” brings to mind, so expect much more on this front.<\/p>\n

It took six months<\/strong> past the deadline, but MGM and the Culinary Union<\/strong> came to terms, in a deal ratified by 97% of affected by employees<\/a>. Upgraded health \"lion\"<\/a>coverage was one of the enticements, along with possibility to renegotiate in years four and five of the pact. Noting the massive preponderance of support for the new agreement, Deutsche Bank<\/strong> analyst Carlo Santarelli<\/strong> wrote ”\u00a0it is likely there are other sweeteners in the deal that make it a tad better around the edges for the union. We believe the 97% approval rate speaks to this. As such we believe the deal is likely a net neutral for MGM<\/em>.” Nevertheless, congratulations to MGM for leading the way. Other Strip operators ought to be quick to follow its precedent.<\/p>\n

USA Today<\/em> readers have voted for their top 10 must-see attractions in Las Vegas. Alas, the iconic Bellagio<\/strong> fountain has slipped to #2, pushed aside by a downmarket upstart<\/a>. A pity, that.<\/p>\n","protected":false},"excerpt":{"rendered":"

If there’s anything murkier than the gambling subculture of Macao, it’s the report on same issued by\u00a0\u00a0U.S.-China Economic Security Review Commission. Its conclusion that money laundering “might be out there” won’t come to a shock to anyone. U.S. casino companies … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[151,28,62,11,25,12,32,9,19,38],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/12117"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/comments?post=12117"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/12117\/revisions"}],"predecessor-version":[{"id":12118,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/12117\/revisions\/12118"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=12117"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=12117"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=12117"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}