Given the prospects of a Chinese hard landing, the massive corruption in China, and the fact that the country is well...not a democracy by any stretch, I wonder if the chance for civil unrest/revolution are real.
And if that happens...what will happen to the profits of these Macau casinos that thrive off of the corrupt elite.
The insane levels of growth are not exactly a top secret. The news release from LVS was titled: Las Vegas Sands Corp. Reports Landmark Fourth Quarter and Full Year 2011 Results; Fourth Quarter Net Revenue Increases 26.3% to Record $2.54 Billion;
Sands cleared over a billion dollars from Macau casino operations only in just one quarter.
Venetian Macau $641.3 million
Sands Macau $311.9 million
Four Seasons Macau $183.7 million
Marina Bay Singapore $654.0 million
Las Vegas Operations $118.3 million
Pennsylvania Sands $97.9 million
Sands casino operations only
$2.007 billion last quarter
$7.437 billion for calendar year 2011
Compare that to the unrestricted licenses in all of Clark County (Vegas strip, Boulder strip, Vegas urban area, Laughlin, and Mesquite)
$2.351 billion last quarter
$9.223 billion for calendar year 2011
In only 1989 the Sands Casino was purchased by the owners of The Interface Group - Sheldon Adelson, Richard Katzeff, Ted Cutler, Irwin Chafetz, and Jordan Shapiro. On November 26, 1996 the Sands was exploded in a bold move.
Paco, what's the one-sentence explanation for the Maccau profits? ..