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Macao får det Las Vegas dobblerit, som sandsna bryter Hos monopol

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Maj 18 (Bloomberg) -- Manuel Joaquim das Neves, Macao dobbel kontrollerar stiger ombord direktören, kämpar med numrerar. Han har fyra-söker listar av nytt dobbleri härskar det behov att passeras, och en bunt av planerar för så många som 24 nya kasinon.

Därefter finns det 3.75 miljon turister, mer än halvt från Kina, som besökte i första kvartal -- en 25 procent förhöjning över i fjol. Omkring 40.000 är i town nu och att vänta på den dagens öppningen av det SandsMacao kasinot, den första skivan av Las Vegas till

``I fjol, om någon berättade mig att att skulle tillväxt är så, fasta, skulle jag för att inte ha trott dem, '' sagda das Neves, 44.

Las Vegas Sands Inc.'kan s-Sands Macao föreställa en källa av ny intäkt för Macao, den tidigare portugisiska enklaven som återvände till kinesen härskar i 1999. Och det markerar avsluta av ett 42 år dobblerimonopol för Hong Kong-födda Stanley Ho, vars 12 Macao kasinon tjänade $412 miljoner i fjol, 50 procent mer än in

”Har de endast skrapat ytbehandla av begäran,”, sade Marc Falcone, 31, disponent och analytiker på Deutsche Bank Säkerheter Inc. i New York. ``Kan Macao växa procent a för intäkt 25

De nära rymda Las Vegas sandsna kastade en $12 miljard, kasino 20- planerar för att segra dess dobblerilicens, däribland ett dubblett $800 miljoner av dess lyxiga Venetian hotellsemesterort i Las Vegas.

Las Vegas-baserade Wynn tillgriper Ltd. väntar på krediterar reglemente som das Neves måste inrama i portugis och översätta in i kines, för den startar arbete på Wynn Macao detta år. Företagsrepresentanter som ska gåva projekteraförslag till Macao

Galaxsemesterorten & kasinot, ett nära rymt Hong Kong företag, planerar för att öppna dess första av tre kasinon, Waldoen, vid avsluta av

on-line dobbel för kasino

”Är detta ett enormt tillfälle för Las Vegas Sands,”, sade Ron Reese, en företagstalesman. ``Är det början av ett nytt

Macao får mer, än two-thirds av dess skattemedel från dobblerit, som redogj橬一j i fjol för 43 procent av den $8 miljard ekonomin, regeringen figurerar show.

Dobbel var den huvudsakliga dragningen för rekordet 11.9 miljon turister som besökte i fjol. Det 26 kvadrera-kilometer (10 fyrkantiga mile) territoriet, befolkning 440.000, är det mest nära förlägger för 1en.3 miljard folk av mer stora Kina -- inklusive Taiwan och Hong

Bang följer Macao beslut för att inte förnya Hos monopol, då hans medgivande förföll i 2001. Kina som frigöras upp, reser i fjol till Macao och Hong Kong. Invånare av dess rikare städer, inklusive Beijing, Shanghai och Guangzhou, kan nu besöka

China's underground gambling market is worth about $362 billion a year, according to Macau legislator David Chow. ``I think at least 70 percent of our customers will come from China,'' said Galaxy Director Francis Lui, a property developer.

Macau has room to make money for the gaming companies, said Deutsche Bank's Falcone, who's visited twice.

``It's undercapitalized, under-invested in, with smoke-filled rooms and gamblers five deep to a table,'' he said. ``It's a culture shock for those who haven't been. It's a very intense

The average casino win per table per day is $22,000, Falcone said. In New Jersey's Atlantic City, the No. 2 U.S. gambling destination, the average is $2,600. In Las Vegas it's $2,200. Wynn Resorts stock has risen 34 percent this year.

``These world-class operators will bring an improvement to Macau,'' said Norman Ho, who helps manage $2 billion at Value Partners Ltd. in Hong Kong. ``They are not new to this game. They can bring proven models, nice setting, professional people.''

Until now, Macau's reputation has been anything but

The speck of Chinese mainland, with two inhabited islands, was settled by the Portuguese in 1557. Its strategic position at the mouth of the Pearl River estuary, a trading gateway to China, made it a target for four Dutch attacks. All were repulsed from

After its ports began to silt up, and the British claimed Hong Kong, 65 kilometers away, Macau declined into a sleepy village. When Ho opened his first casino in 1962, Macau's main industries were fishing, firecrackers and incense-making.

Criminals followed the gambling money. Triads have fought sporadic gang wars over control of casino VIP rooms and loan- sharking operations -- most recently in the 1999 lead-up to the resumption of Chinese rule, when 40 people died in shootouts.

Wynn Resorts is waiting for credit legislation to be passed before it starts building on a new strip reclaimed from Macau's harbor. The law would regulate the way casinos give credit to players, thereby marginalizing loan-sharks, the gaming board's das Neves said. Steve Wynn, the 62-year-old company chairman and chief

Wynn Resorts offered 7 million shares to investors May 7 to raise $268.1 million. The company said it will use some of the

``The Americans are concerned because Macau does not have any regulations or law concerning gambling,'' das Neves said. ``In the last 40 years, we've had a monopoly system. We didn't need to make laws, regulations to control one operator.''

Legislation to combat money-laundering and tax evasion should be passed next year, he said. Promoters who get commissions from casinos for delivering customers will require a government

Other risks remain. While 21 companies bid for a gambling license in 2002, Macau offered only three. They went to Ho's closely held Sociedade de Jogos de Macau, Wynn Resorts and Galaxy. The Las Vegas Sands operates under a sub-concession from Galaxy's license, leaving it vulnerable should Galaxy ever be disqualified.

Macau wants to develop more diverse attractions to attract families and business conventions, the territory's 49-year-old chief executive, Edmund Ho, said when licenses were awarded.

Sam Ho, an analyst at Hong Kong's East Asia Asset Management Co., which manages $600 million in equities, says he has doubts that Las Vegas glitz will broaden Macau's appeal.

``The mainland Chinese people may not care about the image or atmosphere of the casinos,'' Ho said. ``The culture is different, and it's a different group of people than those visiting Las

That group helped make Stanley Ho, 82, a billionaire. He said in an interview a year ago that he wasn't concerned about losing

``Why should I feel worried?'' Ho said in an e-mailed comment then. As a young man, he had to fight off Chinese triad gangsters and pirates who tried to take advantage of his businesses, he said. ``All my life I have loved challenges.''

Ho's Hong Kong-based Shun Tak Holdings Ltd., run by the fifth of his 17 children, Pansy, maintains monopoly control of the ferry service from Hong Kong to Macau. He owns a slice of Macau's airline, airport, horse-racing track and dog-racing track, as well as real estate, Macau's biggest department store and its second-

Both Stanley Ho and Pansy Ho, 41, declined to comment for

``I think the competition inevitably will be strong,'' said Galaxy's Lui. ``We are talking about doubling or tripling the number of tables within a very short time. The belief here is that

 
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