Las Vegas Sands Macau Gaming License May Be in Jeopardy
Written on October 5, 2007 by Macau
“Adelson was the first American to open a gaming facility in China, recouping his entire $265 million investment in the Sands Macau one year after it opened in 2004.”
A bit dated, BUT this is before the Casinos revenue came in these last 2 years and surpassed Vegas.
Looks like a STRONG PANEL! (Below)
“The judge panel of the competition was made up of four experts in trade, law, investment and consulting from Singapore, Hong Kong and Guangzhou. The panel examined more than 40 applications from individual Asian cities and regions in their economic database and foreign investment environment. Macau and Seoul were both graded the “City with Best Economic Potential” in Asian cities.”
Associated Press Writer
“The torch passed new Las Vegas-style casinos that have helped this Chinese territory surpass the Las Vegas Strip as the world’s top gambling center.
After returning to Chinese rule, the city broke up a monopoly on the gambling business. Casino tycoons from Las Vegas and other places were allowed into the market, creating a big gaming boom.
The magnates include billionaires Steve Wynn of Wynn Resorts Ltd. and Sheldon Adelson of Las Vegas Sands Corp., who opened the $2.4 billion Venetian mega-resort complete with Italian-style gondolas floating down indoor canals.
In 2006, Macau overtook the Las Vegas Strip as the world’s epicenter of gambling. Its casinos rang up $6.95 billion in gambling revenue, while the Strip made $6.69 billion, regulators in the cities said.
Last year, Macau’s casinos raked in more than $10.3 billion in gaming revenue, an increase of 46 percent over the previous year, the government said.”
Tropicana Makes Bankruptcy Filing As Casino Glitz Takes Economic Hits
By Jeffrey McCracken and Tamara Audi
“The problems at Tropicana, which has 11,000 employees and about $1 billion in annual sales, come as the casino industry as a whole is struggling. They also underscore weak performance in Las Vegas, which has seen major casino projects canceled or delayed and gambling revenue decline as the economy stumbles.”
