{"id":23093,"date":"2018-12-14T08:54:57","date_gmt":"2018-12-14T16:54:57","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=23093"},"modified":"2018-12-14T08:54:57","modified_gmt":"2018-12-14T16:54:57","slug":"scientific-pays-up-clouds-over-macao","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/scientific-pays-up-clouds-over-macao\/","title":{"rendered":"Scientific pays up; Clouds over Macao"},"content":{"rendered":"

“While we firmly believe that the jury decision was wrong, we are pleased with the outcome of the settlement and that this matter will be resolved for good,” said Scientific Games<\/strong> Chief Legal Officer \"\"James Sottile<\/strong>, trying to spin a loss as a win. Scientific had been dealt a serious blow last August 7 in a suit brought by Shuffle Tech<\/strong>. The jury not only found in Shuffle Tech’s favor, the $105 million in compensatory damages was subject to trebling plus court costs. This would have brought Scientific’s tab to $335 million. The parties settled out of court for $151.5 million, which is a serious haircut for Scientific but perhaps the latter feels it is getting off cheaply when compared to the jury award. SGMS shares responded positively, gaining 3% on the news.<\/p>\n

* “In our view, license renewal remains a risk and is an overhang on Macau<\/strong> operators,” writes Credit Suisse<\/strong> analyst Cameron McKnight<\/strong>. “We have assumed that outside bidders could bid for Macau licenses on the assumption they could obtain the real estate at \"\"historical cost. Equally, concessionaires themselves would likely need to bid based on how they expect outside bidders to bid.” The potential for outside bidders has to be an unwelcome prospect for Macanese casino operators. It’s hard enough to monetize some of these multibillion-dollar mega resorts without having to enter a bidding war to hang onto them. Meanwhile, in another worrisome economic indicator, automobile sales in China<\/strong> fell 14% in November, the worst such declivity in seven years. The good news for Macao is that its airport will add four new routes this month. The bad news is that labor groups are agitating for a 3% pay bump for casino workers. The cost of doing business in Macao is not cheap.<\/p>\n

Meanwhile, on the Japan<\/strong> front, Osaka<\/strong> is taking the lead in soliciting requests for proposals, starting next year. McKnight rates the\u00a0top bidders as Las Vegas Sands<\/strong>, Caesars Entertainment<\/strong>, Melco\u00a0Resorts & Entertainment<\/strong>\u00a0and Wynn Resorts<\/strong> — in other words, the usual suspects. Sands is stealing a march\u00a0on the \"\"competition by sending a delegation to Osaka next week. Don’t nap on Sheldon Adelson<\/strong>. Speaking of Adelson, were his and Steve Wynn’s donations to Donald Trump’s inaugural misspent<\/a>? Only the Wall Street Journal<\/em> knows. In the meantime, Colony Capital<\/strong> CEO Tom Barrack<\/strong> is being investigated for having potentially funneled<\/a> (illegal) foreign donations to aforesaid inaugural. Couldn’t happen to a nicer bozo (Barrack, that is). Normally mute Barrack mouthpiece Owen Blicksilver<\/strong> was struck by a sudden fit of loquacity, saying\u00a0\u201cTom has never talked with any foreign individual or entity for the purposes of raising money for or obtaining donations related to either the campaign, the inauguration or any such political activity.\u201d Wow. That’s the first time we’ve heard Blicksilver say anything other than “No comment.” A monkey could do his job.<\/p>\n","protected":false},"excerpt":{"rendered":"

“While we firmly believe that the jury decision was wrong, we are pleased with the outcome of the settlement and that this matter will be resolved for good,” said Scientific Games Chief Legal Officer James Sottile, trying to spin a … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":22781,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[244,3,42,14,171,241,189,62,222,160,12,32,100,38,233],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/23093"}],"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=23093"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/23093\/revisions"}],"predecessor-version":[{"id":23094,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/23093\/revisions\/23094"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media\/22781"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=23093"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=23093"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=23093"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}