Word: macau
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Beijing that talks could resume "in November or possibly December," and that Pyongyang had reaffirmed its commitment to a preliminary agreement that had been reached last September, shortly before the talks fizzled when the U.S. cracked down on illegal North Korean bank accounts in the Chinese city of Macau...
Wynn contends just the opposite is true--that in Las Vegas his hotel produces more profit than Adelson's larger Venetian, and that the same can happen in Macau. Adelson "can't keep up with us in earnings," Wynn says...
...best way to compare the two properties is to look at return on net investment. By this measure, the Venetian wins out, 30% vs. 12% to 14% for Wynn, but since Wynn's hotel is so much newer, he could catch up. Amazingly, Lerner expects Wynn's new Macau hotel to earn more than a 100% return--as Adelson's Sands already does. The bottom line is that running a casino in Macau is, as the sports books say, a lock...
Just as in Vegas, their fierce competition in Macau will spur other developers to build better and bolder projects that will attract larger crowds. Wynn says he's "rooting for my competitors to do a good job"--even Adelson. "If he can fill it, God bless him. That kind of stuff, notwithstanding the attitude of the chairman, is a great thing for this town...
...battle of Macau is just heating up. Adelson's main entries on the Cotai Strip are still to come. "People say I've changed the face of Vegas, and now I'll change the face of Macau," he says. Wynn has much more in the works as well. He's secured a 54-acre site next to Adelson in Cotai to build four hotels--three of them full casino resorts. "I think it is more important to focus on people's work than it is their talk, including mine--but especially his," says Wynn. "And when the smoke clears...