Las Vegas Sands’ experience in resort management and MICE activities in the U.S. meant that any party partnering with the operator had a higher chance than others in winning one of Macau’s original licenses, a court heard.
Macau had been looking for partners to help it enrich its tourism offerings to help boost economic recovery.
“This did not mean [the Commission] completely prioritised [LVS] but any party involving [LVS] had advantages,” said Maria Nazaré Saias Portela, a member of the Macau Casino Gaming Commission at the time.
The court is hearing a case brought by Asian American Entertainment, which was LVS’s initial partner in applying for the license. The two parties split and LVS went on to bid with Galaxy Entertainment.
Asian American claims breach of contract and is seeking as much as $12 billion in damages.
A joint venture between United States-based gaming group MGM Resorts International and Diaoyutai State Guesthouse is planning a further two new hotels in the mainland China city of Zhuhai, next to Macau.
For this edition of our magazine, we focus on Southeast Asia, with a particular look at the Philippines. The country’s casino industry has been among the hardest hit in Asia, with the integrated resorts in Manila’s Entertainment City having remained mostly closed to the general public since the beginning of the crisis last year.
The world is bouncing back, or at least coming to grips with the fact that going forward not much will be the same as before. Commendably, this industry quickly understood the need to adapt to a new normal, and that the days of targeting the low hanging fruit of the VIP sector are gone.