Inside Asian Gaming

May 2010 | INSIDE ASIAN GAMING 45 Briefs space,”Mr Wynn said. “I want to build a hotel in Cotai and I have designed one that makes use in our 51-acre parcel of extended space of water and gardens, no matter where you are in the building. And that creates an emotional involvement by the guest at a level that cannot be achieved in a city.” Mr Wynn added that the project, likely to open in 2014 or 2015, would be “the difference between a lovely hotel and a destination resort.” Harrah’s for Manila? A Harrah’s Entertainment-operated hotel and casino will have a first phase opening next June in Parañaque, a municipality of Manila, in the Philippines, according to a local media report. The local partners for the project are said to be Belle Corporation, a developer of luxury residential and leisure properties, and Henry Sy’s SM Group. The latter company was the developer of Manila’s premier shopping centre, the Mall of Asia, and owns 35 other malls in prime locations across the country.. Illinois probes MGM Mirage deal with Pansy Ho The Illinois Gaming Board is investigating the Macau casino partnership between MGM MIRAGE and Pansy Ho according to the Wall Street Journal . The two parties jointly own MGM Grand Macau— recently rebranded as MGM Macau. The Illinois board’s inquiry follows a 17th March finding by the New Jersey Division of Gaming Enforcement that MGM MIRAGE’s link with Ms Ho wasn’t acceptable under the state’s regulations. The US federal authorities have repeatedly said that Ms Ho’s father, Dr Stanley Ho, has exposure to Chinese organised crime groups that have allegedly infiltrated some of the VIP rooms in his casinos. The Illinois inquiry is likely to focus on the fact that the MGM Macau casino operates on a sub-licence from Dr Ho’s casino operating company SJM sold to Ms Ho and her business partner MGMMIRAGE. The suggestion is that the direct financial interest of Dr Ho in the MGM Macau operation means Ms Ho is not truly operating independently of her father in the manner previously accepted by the Nevada authorities, which signed off on the joint venture prior to the opening of MGM Macau in December 2007. Domestic state politics may play a role in the stance of Illinois lawmakers. US President Barack Obama is a former senator for Illinois and has made several speeches recently making unfavourable comparisons between the banking sector and Las Vegas. There is strong opposition among a vocal segment of local voters to expansion of gaming in the state. Illinois also has its own corruption scandal with former state governor Rod Blagojevich being accused of trying to sell Mr Obama’s former US Senate seat. Viva Macau’s extra handouts revealed The Macau government’s help to now-failed airline Viva Macau was more extensive than previously revealed, reports the Macau Daily Times . Between October 2008 and the end of 2009, the SAR government made five separate loans to the low-cost carrier, totalling MOP212 million (US$26.5 million). Now it’s been revealed the government also gave the carrier MOP28 million to carry its advertising, and a further MOP7 million subsidy, with equivalent amounts also going to other airlines serving Macau. The information came to light when Lau Sio Io, the Secretary for Transport and Public Works, and his officials attended the Legislative Assembly recently to answer lawmakers’ questions surrounding the airline’s failure. During part of the time Viva Macau received its MOP212 million loans, William Ho (now deceased), a brother of the then Macau Chief Executive Edmund Ho, was a shareholder of Viva Macau. In theory, the first MOP40 million repayment on Viva Macau’s loan is due on 1st July this year, with another instalment due in May 2012. Whether the government will see any of that money may depend on the terms written into the loan deal and whether it was personally guaranteed by named shareholders. Otherwise, given that Viva Macau has ceased trading, the government simply becomes one of the company’s creditors and must take its place in line while accountants see what, if anything, can be realised by disposal of Viva Macau’s assets. Lawmakers flying blind on Viva Macau