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(Reuters)   Las Vegas Sands, the biggest operator of casinos by revenue on the Strip, is getting out of Vegas, baby   (reuters.com) divider line
    More: Ironic, Las Vegas Sands, Sheldon Adelson, world's largest gambling hub, casino mogul Sheldon Adelson, Vegas properties, The Venetian Macao, Apollo Global Management Inc's affiliate, Venetian Resort Las Vegas  
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817 clicks; posted to Business » on 03 Mar 2021 at 12:56 PM (9 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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2021-03-03 11:45:29 AM  
I don't know that I'd want that much money tied up in Macau...which only exists at the pleasure of China.
 
2021-03-03 12:29:41 PM  
Pulau-Pulau? Home of the daring Dragoon?

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2021-03-03 12:59:00 PM  

mr_a: I don't know that I'd want that much money tied up in Macau...which only exists at the pleasure of China.


I'm sure they get a nice insurance premium every month.
 
2021-03-03 1:32:24 PM  
They're becoming Las Vegas Sans.
 
2021-03-03 1:43:09 PM  

ThatGuyFromTheInternet: They're becoming Las Vegas Sans.


West Branson
 
2021-03-03 2:15:13 PM  

mr_a: I don't know that I'd want that much money tied up in Macau...which only exists at the pleasure of China.


Ultimately, one can never tell with China, but I don't think they'll mess with the applecart.  Macau is only useful for gambling - too small a territory for manufacturing and way too shallow a port (you can see the bottom of the ocean for miles) for modern shipping.

Chinese are gambling nuts (like other Asians) and having Macau is a useful steam valve or social device.
 
2021-03-03 2:29:03 PM  

SirEattonHogg: mr_a: I don't know that I'd want that much money tied up in Macau...which only exists at the pleasure of China.

Ultimately, one can never tell with China, but I don't think they'll mess with the applecart.  Macau is only useful for gambling - too small a territory for manufacturing and way too shallow a port (you can see the bottom of the ocean for miles) for modern shipping.

Chinese are gambling nuts (like other Asians) and having Macau is a useful steam valve or social device.


The real risk for investors is if China turns off the access of its citizens for gambling.  We saw that occur with the "anti-corruption" drive several years back which really affected the bottom line.  However it did prompt more investment into the higher end offerings to try and attract wealthy citizens from throughout Asia rather than simply the Chinese market.  There is always danger that the government can turn on you in China, but the size of the market and opportunity for profit usually makes companies feel the risk is worth it.
 
2021-03-03 7:58:29 PM  

bittermang: ThatGuyFromTheInternet: They're becoming Las Vegas Sans.

West Branson


First time I ever went to Vegas, that's exactly what I thought. "Where's the mobbed-up Vegas?" I stayed at the Tropicana, because I had just driven in from LA and stayed at the first place I saw that I recognized from the movies. Went to a gay bar that was right next to the Liberace museum way far down from the Tropicana. Drinks were pretty-much free all night. Went home with a local (hot guy). I was much younger then. Fun times.

Where was I?

Oh, yeah. It's even more like Branson, MO now. Might as well go to Disneyland if you're going to waste a lot of money. I'm planning a trip to Vegas or LA before the next school year starts. I've had my first Covid shot (Moderna) and am getting my second on the 23rd.
 
2021-03-04 7:53:48 AM  

mr_a: I don't know that I'd want that much money tied up in Macau...which only exists at the pleasure of China.


You don't have that much money.

But, why would that be a problem?
 
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