Asian Gaming Intelligence‘s Weekly Quotes for the year of 2008.
5th Aug
“Adelson stands taller than basketball players—when he’s standing on his wallet.”
Las Vegas Sands Corp. chairman Sheldon Adelson, speaking during his company’s Q2 earnings call and recounting a third party’s anecdote about him.
12th Aug
“I don’t know why you’re thinking I’m selling Cirque du Soleil to the world. I’m not selling Cirque du Soleil. I’m giving up 20% of the company.”
Guy Laliberte, the Cirque’s Canadian founder, explaining he will stay in charge of the firm that produces shows in Macau and Las Vegas casinos (among other places). Mr Laliberte had just sold a one-fifth share to two Dubai companies owned by the government of the Gulf state.
19th Aug
“I am writing to advise you that from August 15 I will be going on summer holiday. I am planning to be sitting by my cottage in Donegal, Ireland, watching a late summer sun rise up over empty sandy beaches and clear, clean blue water; smelling the ozone-heavy, salty air of the north Atlantic Ocean and preparing for a day where I will be kept busy doing nothing.
“I will be returning to Macau and SJM in September suitably refreshed and looking forward to contributing to SJM’s exciting future.”
Frank McFadden, President of Joint Ventures and Business Development for SJM, issuing a pre-emptive statement before he flew off on leave. Last year when he went on annual break a local newspaper reported he had left the company.
26th Aug
“Dear Michael,
“First of all, congratulations on your eight gold medals and world record breaking feats—what a supreme sporting achievement—and I hope superstardom treats you well. However, I write this open letter to you to say that I am in a position to add weight to the argument that you should be crowned history’s ultimate sportsman.”
The organisers of the Asian Poker Tour Macau event inviting poker player and US Olympic swimmer Michael Phelps to join the event on his way home from the Beijing 2008 Olympics.
15th Sept
“Wynn is a luxury speedboat, graceful and agile. The Venetian is an ocean liner—slow to build speed and difficult to steer.”
Wynn Macau president Ian Coughlan on why Wynn Resorts had bucked the trend of declining share prices among Macau casino operators.
23rd Sept
“Actually, Stanley Ho is very paternal. And he’s very patient. That doesn’t mean he’s not a tough, driven businessman. But he understands when things don’t go the way you would like them to go, that they are not always a consequence of management but often a consequence of the environment.”
Frank McFadden, former professional rugby player and President of Joint Ventures and Business Development for SJM, on why it’s fun to work for the grandfather of the Macau gaming industry.
30th Sept
“Macau is just taking a deep breath at the moment—nothing more.”
Lawrence Ho, co-chairman of Melco Crown Entertainment and chairman of Melco International Development, on why there’s no need to panic despite the tumble in share prices for Macau gaming operators.
14th Oct
“Short selling is pure gambling. You might as well come into our casino over here and play at the craps tables. Listen, at least [in the casino] you’ve got a 49 per cent chance. You don’t have a 49 per cent chance in the marketplace.”
Las Vegas Sands Corp’s chairman Sheldon Adelson speaking at The Venetian Las Vegas on why casino capitalism is less fun than the real thing.
21st Oct
“Hard times won’t stop gamblers from betting, partygoers from drinking and smokers from puffing.”
Seeking Alpha columnist Thomas A. Anderson on why so-called ‘sin stocks’ may bounce back during an extended economic crisis.
29th Oct
“A good son does not dig into his father’s inheritance.”
Hopewell Holdings’ chief operating officer Thomas Wu, backing his father Sir Gordon Wu’s decision not to fund the Hong Kong-Macau-Zhuhai ‘super bridge’ project.
12th Nov
“If necessary, the government will take over. We will not allow any casinos to shut down.”
Edmund Ho, Macau’s chief executive, explains during his annual policy address why The Venetian empire’s Chinese branch will continue to flourish.
19th Nov
“It was pretty much a monumental screw-up.”
William Weidner, President and Chief Operating Officer of Las Vegas Sands Corp., giving a viewpoint on the internal debate within the company prior to its securing of emergency funding.
26th Nov
“If someone tries to build six hotels at once and finds the market can’t accommodate it, there’s a problem with the planning.”
Steve Wynn, giving his typically forthright view on the reasons behind Las Vegas Sands Corp.’s difficulties in Macau.
10th Dec
“My employees are not only treasures to me, they are extremely precious and I can’t afford to cut their jobs.”
Macau’s veteran gaming operator Dr Stanley Ho on why his casino workers can sleep soundly––though not at the gaming tables.
“I cannot gamble because I hold a gaming licence and am accustomed not to gamble or even speculate.”
Dr Ho again explaining the serious aspect of running pleasure palaces for the public.
17th Dec
“Betting on Mr Ho’s horses yields much better returns than his stocks, based on empirical and mark-to-market data.”
South China Morning Post columnist ‘Lai See‘ on why in current economic conditions investors might be better off backing Stanley Ho’s successful thoroughbreds than investing in his companies.
22nd Dec
“We love Macau and we love our country, it shows in this lotus-shaped hotel.”
A patriotic Dr Stanley Ho, singing the praises of China and his flagship casino property The Grand Lisboa in the same breath.
