{"id":4361,"date":"2010-08-13T08:48:26","date_gmt":"2010-08-13T16:48:26","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=4361"},"modified":"2010-08-13T08:48:26","modified_gmt":"2010-08-13T16:48:26","slug":"new-shakeup-at-melco-adelson-goes-tropical","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/new-shakeup-at-melco-adelson-goes-tropical\/","title":{"rendered":"New shakeup at Melco; Adelson goes tropical"},"content":{"rendered":"

\"\"Those of you for whom Melco Crown Entertainment<\/strong> has been a bumpy ride are about to experience additional turbulence. CFO Simon Dewhurst<\/strong> has stepped down and MPEL board has — rather late in the day — decided “to find a CFO with more of a gaming operating background (versus Mr. Dewhurst\u2019s capital markets background, which may be less relevant to a company with less development related financing needs)<\/em>,” according to a J.P. Morgan<\/strong> investor alert.<\/p>\n

It’s part of a bigger “management churn” at MPEL, which is reorganizing in a more vertically integrated manner, instead of stovepiping each of its properties. For instance, Altira<\/strong> President Ted Chan<\/strong> is now co-COO, responsible for gaming. He’ll be splitting duties with former City of Dreams<\/strong> (above<\/em>) consultant Nick Naples<\/strong>, having defected from all-but-defunct Studio City<\/strong>. City of Dreams President Greg Hawkins<\/strong> is out, period, and Melco is going to scour the casino industry for a new CFO. (Gentlemen, please update your resumes.) On the surface, all these moves look like sensible ones, so let’s hope they pan out.<\/p>\n

Elsewhere on Macao<\/strong>, the opening date for Venetian Oriental<\/strong> (aka<\/em> Sites 5 and 6<\/strong>) on the Cotai Strip\u2122<\/strong> has been pushed back three months, due to a shortage of manpower. The Macanese government is serious about that 1:1 ratio of native vs. imported labor. Las Vegas Sands<\/strong> has only half the 2,600 laborers it needs right now, which doesn’t bode extremely well for a project that will require nearly 11,000<\/em> construction workers when work reaches fever pitch. The metaresort’s theme is described as “Polynesian\/Himalayan,” which sounds like a hella weird mix. (Will your bags be carried to your room by Sherpa<\/strong> porters?) After the breathtaking design of Marina Bay Sands<\/strong>, it’s disappointing to see Sheldon Adelson\u2122<\/strong> go all tiki-tacky on us … but maybe that’s what the market wants.<\/p>\n","protected":false},"excerpt":{"rendered":"

Those of you for whom Melco Crown Entertainment has been a bumpy ride are about to experience additional turbulence. CFO Simon Dewhurst has stepped down and MPEL board has — rather late in the day — decided “to find a … 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":[65,28,22,96,94,62,93,12,108,38],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/4361"}],"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=4361"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/4361\/revisions"}],"predecessor-version":[{"id":4363,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/4361\/revisions\/4363"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=4361"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=4361"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=4361"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}