Adelson Says No More New Casino Concessions in Macau
Written on February 6, 2008 by admin
Here is an interesting observation by David McKee from LasVegasAdvisor.com saying that Dr Stanley Ho’s days are numbered. Well we are not so sure if we can agree with him on that one!
Toward the bottom of an otherwise run-of-the-mill report on Las Vegas Sands‘ year-end numbers, Sands supremo Sheldon Adelson lets fly with a bombshell: Not only will there be no new casino concessions in 2009, when Macao Chief Executive Edmund Ho leaves office, there will be fewer. (Bad news for Harrah’s, this. They’re really banking on a new round of concessions and, perhaps, subconcessions too.)
“Some of the bottom, the older, individual non-known (Stanley Ho-run operations) … like Golden Dragon and Greek Mythology” and others could have their casinos closed, Adelson predicts. However … it turns out that Adelson is merely “hoping” that this scenario will come to pass, basing it primarily on a “feeling” he gets with talking to Macao’s Communist overlords in Peking.
“They indicate to us that they feel that there have been too many licenses out there,” quoth Adelson. Of course, there’s still a big difference between feeling there’s too much of X on the market and actually constricting the supply of X. So we’ll have to wait and see.
Technorati Tags: macao, macau, Stanley Ho
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