{"id":8861,"date":"2012-04-23T16:34:51","date_gmt":"2012-04-24T00:34:51","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=8861"},"modified":"2019-12-05T09:41:25","modified_gmt":"2019-12-05T17:41:25","slug":"sauce-for-the-goose-wall-street-hearts-lvs-mgm-melco","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/sauce-for-the-goose-wall-street-hearts-lvs-mgm-melco\/","title":{"rendered":"Sauce for the goose; Wall Street hearts LVS, MGM & Melco"},"content":{"rendered":"

\"\"Sheldon Adelson<\/strong> must have great and abiding faith in the American legal system … at least some of the time. He’s counting on it to cover his butt over in Macao<\/strong>, where erstwhile partners Asian American Entertainment<\/strong> have filed suit against Las Vegas Sands<\/strong>, more fallout from the company’s promiscuous dalliance with Chinese business interests. This is at least the third lawsuit dogging the Doge of Venelazzo<\/strong>. He lost a round to former go-between Richard Suen<\/strong>, but that verdict’s been sent back for retrial. Sands also paid $42.5 million to be rid of a trio of Macanese businessmen who were suing the company. Giving Adelson’s carnivorous appetite for litigation, that threesome must have had him dead to rights. Settling out of court has never been his style.<\/p>\n

Asian American pursued the U.S. version of its case in desultory fashion<\/a>, getting thrown out of court in ’09 for not even bothering to \"\"retain appellate lawyers. Now, after an inexplicable three-year hiatus, the lawsuit turns up in a Macao courtroom. Perhaps lead plaintiff Marshall Hao<\/strong> is taking a page from Adelson’s book: Sue in whatever jurisdiction is most convenient. Now, Sheldon is trying to use Yankee courts to throw a monkey wrench into Chinese ones<\/a>, even pleading poverty. (“Las Vegas Sands is already bearing the costs and other burdens of re-litigation in Macau<\/em>.”)<\/p>\n

Sands accuses Hao<\/strong> of using the Macanese courts for an end-around, not the sort of reasoning that ever stopped it from making similar sidesteps of its own. Ironically, five years ago Adelson was complaining that Nevada courts lacked jurisdiction over Hao’s suit. Now they do and Macao doesn’t, evidently. Sheldon’s never let a little thing like intellectual consistency stand in his way.<\/p>\n

\"\"Adelson’s mass-market-based<\/strong> business model in Asia stands him in good stead with Wall Street<\/strong>, which is looking more than guardedly optimistic on gaming stocks<\/a> … at least those with a foothold in the Pacific Rim<\/strong>. Analysts are cool toward Boyd Gaming<\/strong> and have been burned too many years a row by Isle of Capri Casinos<\/strong> to buy into the comeback narrative just yet. Penn National Gaming<\/strong>‘s growth story and steady rate of return are just the things The Street likes to see. Despite MGM Resort International<\/strong>‘s morass of debt, analysts see it holding its ground on the Las Vegas Strip<\/strong> and are untroubled by a projected year-end loss. Wynn Resorts<\/strong> is liked — but not as much as Macao-centric Melco Crown Entertainment<\/strong>, which is predicted to outgrow its competitors. And only Sands is given credit in advance for expected casino legalization in Japan<\/strong> and elsewhere, making it the darling of the stock market. It’s days like this that you’re tempted to feel sorry for Steve Wynn<\/strong>, just a little.<\/p>\n","protected":false},"excerpt":{"rendered":"

Sheldon Adelson must have great and abiding faith in the American legal system … at least some of the time. He’s counting on it to cover his butt over in Macao, where erstwhile partners Asian American Entertainment have filed suit … 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":[60,14,22,85,96,94,62,93,11,69,12,32,9,19,38],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/8861"}],"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=8861"}],"version-history":[{"count":7,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/8861\/revisions"}],"predecessor-version":[{"id":25529,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/8861\/revisions\/25529"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=8861"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=8861"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=8861"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}