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Why is this man smiling?<\/em><\/p>\n Gambling revenue in Macao<\/strong> jumped a whopping 48% last month, as customers left $1.4 billion in casino coffers. No surprise, Stanley Ho<\/strong>‘s casinos continued to maintain their 30% market share, followed by Sands China<\/strong><\/a> at 23%. Fighting for a distant third were Wynn Macau<\/strong> (15%), Melco Crown Entertainment<\/strong> (12%) and Galaxy Entertainment<\/strong> (11.5%). Recent gains by MGM Grand<\/strong> appear to have eroded, as the joint venture with Pansy Ho<\/strong> didn’t quite reach the 9% mark. Analysts at J.P. Morgan<\/strong> had only expected 30% growth … prompting one to wonder if this geyser of cash from Mainland China will spur Peking<\/strong> to tighten the monetary pipeline again.<\/p>\n Casino executives like Sheldon Adelson<\/strong> and ex-sidekick William Weidner<\/strong>, who liked to disparage Nevada’s economy and idolize China’s, ought to have given more thought to the Chinese’s government’s ability — and willingness — to micromanage the Macanese economy like a kitchen stove. Unlike, Las Vegas<\/strong>, upward surges in Macao’s casino business are always accompanied by the fretful prospect of another intervention by the not-so-invisible hand of the “control economy.”<\/p>\n","protected":false},"excerpt":{"rendered":" Why is this man smiling? Gambling revenue in Macao jumped a whopping 48% last month, as customers left $1.4 billion in casino coffers. No surprise, Stanley Ho‘s casinos continued to maintain their 30% market share, followed by Sands China at … Continue reading