Melco Crown Calls Sheldon Adelson’s $10 Billion Bet on Japan, Hard Rock Scrambling for Partners

Melco Crown Calls Sheldon Adelson’s $10 Billion Bet on Japan, Hard Rock Scrambling for Partners

Melco Crown Entertainment won’t be intimidated by Las Vegas Sands billionaire Sheldon Adelson’s comments this week that he’s ready to spend up to $10 billion on building a casino in Japan.

Melco Crown CEO Lawrence Ho says there’s no cap on how much his company is willing to spend on an integrated casino resort in Japan.

Hong Kong businessman Lawrence Ho, the billionaire son of Stanley Ho who held a gambling monopoly in Macau for 40 years, told reporters soon after hearing of Adelson’s pledge that his company is prepared to invest even more. During the same investor conference in Tokyo, Ho explained, ‘We’ll absolutely spend whatever we need to win.’

Japan legalized commercial casinos last fall, but hasn’t determined the specific regulations for the newly liberalized industry. The country’s parliament is working to decide how many gambling licenses will be issued, but the general consensus is that just two properties will be authorized.

In a press release unveiling Melco Crown’s integrated resort concepts for Japan, Ho added, ‘There currently is no predetermined cap on our intended investment. I prefer not to constrain our dreams… with price tags, particularly at this early stage.’

Melco Crown Entertainment was founded in 2004 through a partnership between Melco International Development and James Packer’s Australian Crown Resorts.

Between Rock and Hard Place

With Adelson, a man w Continue reading “Melco Crown Calls Sheldon Adelson’s $10 Billion Bet on Japan, Hard Rock Scrambling for Partners”

President Trump Talks Sports Betting, Nevada Books Collect Record Handle on Super Bowl

President Trump Talks Sports Betting, Nevada Books Collect Record Handle on Super Bowl

Sports wagering legalization is a controversial topic that has recently been debated in several state capitals, and the US Supreme Court is considering conducting unique review in the coming months.

President Trump explained he won’t fight for sports gambling legalization until he hears all sides associated with the story from those that know the market most readily useful.

The topic is garnering the attention of even more important players as Super Bowl LI generated a record handle at Nevada sportsbooks. The commander-in-chief gave over the weekend while there was much coverage on President Donald Trump’s sit-down with FOX News’ Bill O’Reilly during Super Bowl Sunday, it wasn’t the only interview.

Showing up on American sportscaster Jim Gray’s Westwood One radio network program, the president was asked about legalizing sports nationwide that is gambling.

‘What I’d do is sit down with the commissioners. I will be talking in their mind, and we’ll observe they feel about it,’ Trump explained. ‘Some would maybe not wish it, I’ve look over others maybe do. I’d certainly desire to get their input and have the input from the leagues being various . . It shall be studied very carefully.’

While vague, the president’s remarks would be the first time he’s opined on possibly even considering repealing the pro and recreational Sports Protection Act (PASPA). The 1992 statute that is federal recreati Continue reading “President Trump Talks Sports Betting, Nevada Books Collect Record Handle on Super Bowl”

Macau Casinos Get Reprieve on Indoor Smoking Ban

Macau Casinos Get Reprieve on Indoor Smoking Ban

The Macau government is easing its position on smoking inside casinos, and that’s much-welcomed news to resort operators who are desperately trying to stabilize revenues.

Smoking lounges will remain open inside casinos after the Macau government reversed its opinion on making the city a smoke-free territory.

The health bureau’s revision is a win for casinos, as patrons would have otherwise been forced to routinely exit the resort to smoke a cigarette or cigar. However, the agency is also suggesting to the legislature that while lounges should be permitted, special smoking exemptions for VIP rooms and tables should be annulled.

The city’s health bureau has been pushing a citywide indoor smoking ban dating back to July 2015. The effort was in response to the Macau Legislative Assembly passing a bill now seven years ago that set a goal of making the region a tobacco and smoke-free territory. In 2013, smoking inside casinos became restricted to designated lounges.

The office makes suggestions to the government’s legislative arm, and it hopes the chamber will introduce and pass a bill myfreepokies.com based on its latest recommendations this summer.

Macau’s Health Director Cheang Seng said the reason for his department’s policy change was in part due to a recent survey conducted by the University of Macau that found 55 percent of employees support retaining smoking lounges.

‘We cannot ignore this fact,’ Seng explained.

Lounge Modifications

Lounges inside Continue reading “Macau Casinos Get Reprieve on Indoor Smoking Ban”