Adelson And Ho Discuss Ways For Casinos In Macau To Beat Economy

When two forces that have long been rivals come together, it can be somewhat of a magical outcome. It happens all the time in the world of professional wrestling, where two enemies join forces and all of a sudden become a fan favorite duo.

This may be what the casino industry in Macau is now producing. Las Vegas Sands Chief Executive Officer Sheldon Adelson and the man who originally held a monopoly on the casino industry in Macau, Stanley Ho, met this week to discuss ways to keep the casino industry in Macau prospering.

"Everyone agreed not to compete, to have enough rice to eat and get more taxes for the government," said Ho. Although there is a great rivalry between Adelson and Ho, their desire to continue to be successful has made both men realize that compromise is needed.

The two also met with other casino owners on Thursday and they discussed some sweeping changes that would benefit all involved. The operators discussed a freeze on all employee salaries. That would keep competing casinos from stealing employees from one another.

They also discussed the possibility of uniform rates for junket operators to ensure that there would be no advantage to bringing a high roller gambler to any particular casino over another. That is according to John Koh, an investment director of MEAG Hong Kong Ltd.

The revenue for Macau casinos has been down in the past year. Chinese restrictions on the amount of visits they can make to Macau from the mainland and the economy have both been contributing factors to the revenue slide.

April 16, 2009
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com
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