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Aug. 03, 2008
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INSIDE GAMING: Trying times loom for Sands in Macau

HOWARD STUTZ
INSIDE GAMING

Visa restrictions imposed by the Chinese government that curtail mass-market visitation to Macau hurt Las Vegas Sands Corp. more than any other casino operator.

But did Beijing act deliberately to punish Las Vegas Sands?

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    • Some observers speculate Chinese leaders are not happy the Beijing government's inner workings were aired in a Las Vegas courtroom last spring during Hong Kong businessman Richard Suen's six-week civil trial against Las Vegas Sands.

    The company's Venetian Macau, with 3,000 hotel rooms and a 546,000-square-foot casino, needs the casual Chinese visitor from Macau's neighboring provinces to supplement its sizable high-end, junket-fueled customer base. The new travel policies went into effect Friday and could slice mass-market visits to Macau in half.

    The relationship between Las Vegas Sands executives and the Chinese government had been warm. The Adelson Center in Beijing, built by Sands Chairman Sheldon Adelson, has meeting and conference facilities to promote dealings between China and U.S. businesses. But since the trial ended, the friendship may have cooled.

    Jurors who awarded Suen a $43.8 million verdict said they believed testimony that Beijing leaders influenced Macau officials to give Las Vegas Sands a gaming license in 2002.

    Chinese authorities also weren't thrilled testimony covered a July 2001 phone call between Adelson and then-House Majority Whip Tom DeLay. The conversation may have killed a congressional effort to stop China from winning the 2008 Summer Olympic Games, which begin Friday in Beijing. Sands officials had lobbyists publicize their efforts on behalf of the Chinese Olympics cause.

    Las Vegas Sands tried to keep testimony in the trial hidden. District Judge Michelle Leavitt, however, tossed out a motion to bar media from the courtroom. During his six days on the witness stand, Las Vegas Sands President Bill Weidner downplayed the help with the Olympics. "It became an urban legend that we created," he said.

    Macau gaming officials are also feeling the heat. Jorge Oliveira, commissioner of legal affairs for the Macau Gaming Commission, who testified over two days for Las Vegas Sands, has backed away from his courtroom comments. Macau journalists and government officials are examining his testimony.

    The visa restrictions are in their early stages. It's unclear how much they will cut into Las Vegas Sands' earnings.

    Deutsche Bank gaming analyst Bill Lerner said some potential customers use business visas to circumvent restraints. Many Chinese also have multiple identification cards from both the mainland and Hong Kong.

    Howard Stutz's Inside Gaming column appears Sundays. E-mail him at hstutz@reviewjournal.com or call 702-477-3871.



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    ..temujin ... khan of the yakka mongols ... wrote on August 06, 2008 02:49 PM: Hhhhmmm.. Checking Venetian website this week for two nite stay august 20-22.. For two nights it'll cost me 398$ for the smallest suite available.... I clicked the Macao Venetian box and a similar suite goes for 1398$. You get no eggrolls either...Hhmmmmm.....???


    run wrote on August 04, 2008 04:26 PM: Now this is real news. Chinese Goverments isn't blind to the corruption and unfair practices against US casinos in Macau, they just look the otherway. Stay away from LVS.


    nss wrote on August 03, 2008 07:26 PM: this is a stupid article. the average stay is 1.1 day. if visa limits are reduced to 7 days it really means nothing.


    Karma wrote on August 03, 2008 06:47 PM: What goes around comes around.


    Jim wrote on August 03, 2008 02:23 PM: I thought hey built this place to capitalize on the Chinese gamblers? This story is a bunch of crap. Visa's have nothing to do with the low earnings. Just another b.s. venture.


    douglas wrote on August 03, 2008 01:48 PM: if adelson or wynn are so evil, please advise how long the line would be for job applicants. to pahrump ?

    perhaps those present employees and those who can't pass a drug test might apply at the other joints in the valley. the ones who are "laying off", closing down new facilities, throwing in the towel on current construction projects, are in chapter something or other bankruptcy, are trying for some bailout financing, are selling to sovereign funds.


    ET wrote on August 03, 2008 01:21 PM: Mr.Scrooge, oh ,poor scrooge has lost half is wealth in the last six months.Karma, for what you've done to the working men & women.Look Scrooge, how 'd you become so disliked ? The Reds are kicking your assets now for trying to treat em,poorly, without any reguard for humans ,only Adelson.


    James wrote on August 03, 2008 12:57 PM: Adelson deserves to go broke and hopefully the Chinese govt will help him along in that direction. He's a pompous blowhard who believes that he's a winnner if he dies with more money than the other guy.


    douglas wrote on August 03, 2008 09:47 AM: the issue isn't adelson or wynn, rather any international developer. those who view such chinese restrictions as some issue with a particular u.s. casino operator have small minds indeed.


    Joe wrote on August 03, 2008 08:42 AM: Couldn't happen to a nicer bunch.


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