ï»¿Melco Crown Calls Sheldon Adelson’s $10 Billion Bet on Japan, Hard Rock Scrambling for Partners
Melco Crown Entertainment won’t be intimidated by Las Vegas Sands billionaire Sheldon Adelson’s comments this week that he’s ready to spend up to $10 billion on building a casino in Japan.
Melco Crown CEO Lawrence Ho says there’s no cap on how much his company is willing to spend on an integrated casino resort in Japan.
Hong Kong businessman Lawrence Ho, the billionaire son of Stanley Ho who held a gambling monopoly in Macau for 40 years, told reporters soon after hearing of Adelson’s pledge that his company is prepared to invest even more. During the same investor conference in Tokyo, Ho explained, ‘We’ll absolutely spend whatever we need to win.’
Japan legalized commercial casinos last fall, but hasn’t determined the specific regulations for the newly liberalized industry. The country’s parliament is working to decide how many gambling licenses will be issued, but the general consensus is that just two properties will be authorized.
In a press release unveiling Melco Crown’s integrated resort concepts for Japan, Ho added, ‘There currently is no predetermined cap on our intended investment. I prefer not to constrain our dreams… with price tags, particularly at this early stage.’
Melco Crown Entertainment was founded in 2004 through a partnership between Melco International Development and James Packer’s Australian Crown Resorts.
Between Rock and Hard Place
With Adelson, a man w (mais…)
ï»¿Raiders Were ‘Picking Adelson’s Pocket’ Over Stadium Deal, Says Spokesman
Sheldon Adelson withdrew a $650 million dedication to help develop a stadium in Las Vegas for the Oakland Raiders after becoming frustrated with all the team’s overreaching demands and mixed signals towards him during negotiations.
Mark Davis and Sheldon Adelson, pictured here in happier times, are not working together in the $1.9 billion ‘Las Vegas Raiders’ stadium project. Adelson spokesman Andy Abboud had some harsh terms for the Raiders this week.
This is according to Andy Abboud, vice president of government relations and community affairs for LVS.
Abboud told the Las Vegas Review-Journal, a paper owned by his employer, Adelson, that the straw that is final once the Raiders took a proposed arena lease contract to the vegas Stadium authority without informing the Adelsons.
No mention was made by the lease regarding the Adelsons as a partner, a turn of events Abboud describes as ‘stunning.’
‘I’m still trying to puzzle out exactly what the hell these people were thinking,’ Abboud stated. ‘Had they told anyone ahead of time which they were planning to dump that document, even should they had told us, ‘We don’t want you in the deal anymore,’ when they had shown anyone that’s been involved with this process at all that document, we would have said, ‘What in the hell are you currently thinking?”
Four days after the meeting with the authority, on 30th, Adelson pulled his commitment (mais…)
ï»¿William Hill’s Largest Shareholder Needs Purchase of Gambling Company
William Hill is once again at the center of merger talks, but this time the company’s shareholder that is largest wants it become the mark of a takeover.
William Hill is allegedly back on the trading obstructs after the company’s chief stakeholder reportedly called for the group to look for a buyer that is potential.
Parvus resource Management, a London-based hedge fund that controls 14.3 percent of this British bookmaking and gambling business, is reportedly pushing William Hill to simply accept a takeover that is qualified.
According to The Sunday Times, A british weekend newspaper, Parvus thinks William Hill should turn to be acquired by, or merged with, another leading online gambling company. Potential suitors consist of GVC Holdings, as well as 888 Holdings additionally The Rank Group, the two latter which tried to buy William Hill last summer.
Both Parvus and William Hill declined to comment, but conjecture is running rampant in the united kingdom because of the hedge investment’s considerable power.
Created in 1934 by the business’s namesake, William Hill employs some 16,000 people today. The bookmaker has 2,370 physical betting shops over the UK, which compliments its online gaming network.
Up to Parvus
It had been only last October that the investment team publicly blasted William Hill’s potential aligning with Amaya, the Canadian-based company that owners PokerStars.
Parvus said at the time, ‘We h (mais…)