"There have been some changes in terms of the central government's attitude toward Macau. We don't think it's necessarily all that prudent to put more money in until we see how that attitude works its way out." - Bill Weidner, President and COO of LVS
"The fact that the economy and the development and expansion of Macau occurred at such a rapid rate has created a great deal of stress on the community. The central government and the Macau government putting ... a slowdown in visitation was an attempt to give the community a chance to absorb the stuff that had been built." - Steve Wynn as quoted by AP
Bill Weidner may have been correct in his analysis that Beijing is to blame for Macau’s recent woes. However, attacking the government publicly has proven to be counterproductive in the past. Wynn, by contrast, continues to praise the efforts of the Macanese and Central governments going so far to say that the government has “handled practically everything beautifully” (AP quote).
Not only does Wynn build and run the best product, he is also a master politician. He has thrived for 30 years in one of the most regulated businesses out there and his prowess in cultivating and maintaining government relations shows, even overseas. LVS should’ve learned his lesson by now.
"The fact that the economy and the development and expansion of Macau occurred at such a rapid rate has created a great deal of stress on the community. The central government and the Macau government putting ... a slowdown in visitation was an attempt to give the community a chance to absorb the stuff that had been built." - Steve Wynn as quoted by AP
Bill Weidner may have been correct in his analysis that Beijing is to blame for Macau’s recent woes. However, attacking the government publicly has proven to be counterproductive in the past. Wynn, by contrast, continues to praise the efforts of the Macanese and Central governments going so far to say that the government has “handled practically everything beautifully” (AP quote).
Not only does Wynn build and run the best product, he is also a master politician. He has thrived for 30 years in one of the most regulated businesses out there and his prowess in cultivating and maintaining government relations shows, even overseas. LVS should’ve learned his lesson by now.
