Macau junket boss arrest sends wide shock waves

Suncity leader Alvin Chau’s arrest escalates China’s crackdown on its citizens gambling and illegal money transfers. (Photo provided by Suncity Group.)

The arrest of Suncity chief Alvin Chau and others from the leading Macau junket promoter dramatically escalates China’s efforts to limit its citizens’ gambling activities and illegal overseas money transfers.

Suncity’s Hong Kong listed arm, which excludes its junket business but holds stakes in casino properties Hoiana in Vietnam and Tigre di Crystal in Russia plus a casino hotel under development in Manila’s Entertainment City, says Chau plans to resign as its chairman and CEO.

My ICE365 article on Genting’s licensing in Nevada while discounting its Philippines business highlights how regulators around the world have perfected the art of diminishing, if not disregarding, inconvenient facts. In Macau, at least for now, the authorities have lost their blinders when it comes to Suncity. This story has barely begun to unfold.

Former US diplomat and broadcast news producer Muhammad Cohen is a columnist for ICE 365, a contributor to Forbes, columnist/correspondent for Asia Times, and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

Las Vegas Sands, Genting avert Strip rematch

Genting Group opened Resorts World Las Vegas on the Strip in June amid a strong rebound in Sin City. (Photo courtesy of Paul Steelman.)

Las Vegas Sands and Genting looked set to extend their Singapore competition to the Vegas Strip. But three months ahead of Genting opening US$4.3 billion Resorts World Las Vegas in June, LVS announced a deal selling its Las Vegas resorts and convention center to focus on Asia .

This pair of casino giants, whose Singapore properties Marina Bay Sands and Resorts Wold Sentosa rank among the most lucrative integrated resorts on earth, could square off elsewhere. Asia is an obvious pick, though given the paucity of new opportunities in the region, it’s just as likely LVS and Genting could open a new chapter of their rivalry in New York or Texas.

Former US diplomat and broadcast news producer Muhammad Cohen is a columnist for ICE 365, a contributor to Forbes and Inside Asian Gaming, columnist/correspondent for Asia Times, and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

In March, Las Vegas Sands announced sale of its flagship Venetian complex to focus on Asia. (Company provided photo)

Genting brings Asian know-how to Vegas

Malaysian gaming giant Genting extends its global reach with Resorts World Las Vegas, combining Asian themes with Strip tradition. The $4.3 billion integrated resort, on the site of the legendary Stardust Hotel and putative Echelon project, is due to open next year.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a editor at large for Inside Asian Gaming, contributor to Forbes, columnist/correspondent for Asia Times, and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

New Vegas casino targets Asian Americans

From Chinese landscape murals in guestrooms to the tea sommelier, Lucky Dragon targets Asia American customers in the Las Vegas Strip’s first new casino since 2010.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes, editor at large for Inside Asian Gaming and author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.