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(Yahoo)   Macau casinos hit to the tune of $18bil. Danny Ocean may be good, but he's no Dragon   (finance.yahoo.com) divider line
    More: Followup, Macau, Gambling, Macau's top gaming stocks, Sands China Ltd., Las Vegas Sands, Casino, market value, China's dollar bond market  
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1078 clicks; posted to Business » on 15 Sep 2021 at 11:50 AM (11 days ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



13 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2021-09-15 12:14:05 PM  
And nothing of value was lost.
 
2021-09-15 12:40:39 PM  
yeah best example of stonks is arbitrary reactionary idiocy.

Just ask this question:
are thy still going to be"the house" and still have the house edge on payouts?

and does the idea of a more highly regulated for "fairness" house edge sound like the kind of thing that drives gambles away or maybe that idea can help ease the money out of their pockets?

So yeah, a basiaclly gaurnteed profit company, exactly how do we even pretend they are suddenly worth so much less? They are still The House, they still get a house edge, and the fook this ain't changing chit about their continued profitability or people's willingness to toss monye on the table for a roll of the dice
 
2021-09-15 12:45:51 PM  
I'm really baffled about what Xi and the CCP are doing. What advantage do they gain by oppressing all the top industries in China? Tech, construction, banking, now Casinos, are all being pressured. Is it just vanity? The CCP needs to impose it's power to establish it's dominance in China? How is that going to improve China's standing in the world?

/On the other hand: Let them fight.
//As China is distracted, time for the US to jump further ahead.
 
2021-09-15 1:02:11 PM  
"They just hit Macau!"


"Really?  I'll call the veterinarian!"
 
2021-09-15 1:27:27 PM  

TotallyHeadless: I'm really baffled about what Xi and the CCP are doing. What advantage do they gain by oppressing all the top industries in China? Tech, construction, banking, now Casinos, are all being pressured. Is it just vanity? The CCP needs to impose it's power to establish it's dominance in China? How is that going to improve China's standing in the world?

/On the other hand: Let them fight.
//As China is distracted, time for the US to jump further ahead.


It's about control, why else would the Chicoms be placing political officers in the casinos?  Economic power gives the casino owners the ability to resist party influence, and the party cannot countenance rival power centers within the country.  The government still needs the income, so they won't get rid of the casinos for a while, but they will be brought under direct control.
 
2021-09-15 2:54:05 PM  
Just 10 or 15 years ago, China while clearly a dictatorship, sort of accepted the idea that people need their vices.  It's a steam valve of sorts.  So long as folks didn't fark around with politics.  Hookers or mistresses centered in a southern city called Dongguan and no doubt other places.  Online porn wasn't really blocked.  And gambling in Macau if that was your thing.  There was also drugs.... although maybe only foreigners and upper class Chinese have access to that.  But it seemed pretty easy to score that as well when I was living there.  And if drugs weren't your thing, there were plenty of pretty lively bar districts and even government officials had a bad reputation of being absolute binge drinking drunks.

Xi is sort of the ultimate party pooper. No different than some religious nut.  Except the religion isn't your usual Abrahamic stuff, but worship of the State.  Everything from watching a western movie, having a drink or getting laid is now subject to government policy.  What a total a-hole.
 
2021-09-15 3:07:57 PM  
The CCP's official domestic policy is "Don't acknowledge the existence of things Xi does not like". Given that they're suddenly clamping down on casinos, I'm guessing that either he got dealt a bad hand at a poker table, or someone involved with casino operations (or a family member) dared to contradict the Party in some way shape or form.
 
2021-09-15 3:36:59 PM  

PvtStash: yeah best example of stonks is arbitrary reactionary idiocy.

Just ask this question:
are thy still going to be"the house" and still have the house edge on payouts?

and does the idea of a more highly regulated for "fairness" house edge sound like the kind of thing that drives gambles away or maybe that idea can help ease the money out of their pockets?

So yeah, a basiaclly gaurnteed profit company, exactly how do we even pretend they are suddenly worth so much less? They are still The House, they still get a house edge, and the fook this ain't changing chit about their continued profitability or people's willingness to toss monye on the table for a roll of the dice


There will be a lot less revenue as the amount of money being bet will decrease significantly.

I'll bet most of the money coming into the casinos is stolen. And quite a bit from the government.
 
2021-09-15 4:05:47 PM  

SirEattonHogg: Just 10 or 15 years ago, China while clearly a dictatorship, sort of accepted the idea that people need their vices.  It's a steam valve of sorts.  So long as folks didn't fark around with politics.  Hookers or mistresses centered in a southern city called Dongguan and no doubt other places.  Online porn wasn't really blocked.  And gambling in Macau if that was your thing.  There was also drugs.... although maybe only foreigners and upper class Chinese have access to that.  But it seemed pretty easy to score that as well when I was living there.  And if drugs weren't your thing, there were plenty of pretty lively bar districts and even government officials had a bad reputation of being absolute binge drinking drunks.

Xi is sort of the ultimate party pooper. No different than some religious nut.  Except the religion isn't your usual Abrahamic stuff, but worship of the State.  Everything from watching a western movie, having a drink or getting laid is now subject to government policy.  What a total a-hole.


Xi sounds a lot like Hitler. Genocide and eugenics, worship of the state, moralistic laws, territorial expansion.
 
2021-09-15 4:08:05 PM  
Having a hard time sympathizing with the likes of Steve Wynn or Sheldon Adelson.
 
2021-09-15 4:19:11 PM  

TotallyHeadless: I'm really baffled about what Xi and the CCP are doing. What advantage do they gain by oppressing all the top industries in China? Tech, construction, banking, now Casinos, are all being pressured. Is it just vanity? The CCP needs to impose it's power to establish it's dominance in China? How is that going to improve China's standing in the world?

/On the other hand: Let them fight.
//As China is distracted, time for the US to jump further ahead.


He's slapping a biatch to show everyone who's in charge.
 
2021-09-15 5:07:53 PM  
bil
 
2021-09-16 10:03:45 PM  

PvtStash: yeah best example of stonks is arbitrary reactionary idiocy.

Just ask this question:
are thy still going to be"the house" and still have the house edge on payouts?

and does the idea of a more highly regulated for "fairness" house edge sound like the kind of thing that drives gambles away or maybe that idea can help ease the money out of their pockets?

So yeah, a basiaclly gaurnteed profit company, exactly how do we even pretend they are suddenly worth so much less? They are still The House, they still get a house edge, and the fook this ain't changing chit about their continued profitability or people's willingness to toss monye on the table for a roll of the dice


They aren't being regulated for fairness, they're having their business moved in on and their existence threatened.

Guess how much "guaranteed profit" you get from your Macau casino if you lose your license to operate a casino in Macau? Sure, that's unlikely, but there is obviously more risk than there was last week given that officials are publicly floating the possibility. I wouldn't be so sure they won't de-license (i.e. force a fire-sale to a local company) one casino just to flex on the rest of them.

And when "the house" will have to divert more money to local govt cronies, and have its high-roller business curtailed, and have its operations and dividends being controlled by apparatchiks who don't answer to shareholders, and so on, shareholders can reasonably anticipate reduced growth of the business and less income flowing through to them. The drop may be too big or too small, but it is definitely a rational reaction to this news
 
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