Two Hong Kong-based stock analysts recently met with the Macanese Gaming Inspection & Coordination Bureau. Much to their surprise, when they asked “what
positive policy measures can be enacted to help stop the trend of negative gaming revenue growth,” they were led to believe “the current negative run-rate of gaming revenues is so far not a major concern.” This comes on the heels of Chief Executive Fernando Chui‘s prediction of a 31% decline in gambling revenues. Chui also vowed to “adjust the pace” of casino growth in Macao, “without changing the momentum.” (Two goals that sound, at first blush, irreconcilable.) He promised tighter regulation and more attention paid to problem gambling. Job losses, Chui warned, might be a side effect of his new policies.
Then there’s the dreaded Continued >>
Despite having wrought havoc upon Caesars Entertainment, Chairman Gary Loveman — looking alarmingly puffy and ill — manages to still find himself taken seriously as a talking head. He gave CNBC a dosage of his usual spin-doctoring. This includes one of Loveman’s most remarkable traits: Continued >>
“This is still capitalism. [A community benefits agreement] provides you the opportunity to compete, but there is no special treatment, and there is no guarantee that you would win.” — Roland L. Jones, director of the Prince George’s County Office of Central Services, responding to criticism that MGM National Harbor is overlooking “qualified and experienced” minority businesses in its contracting process. So far, 500,000 cubic tons of soil have been moved an 6,000 pilings have been driven.