Inside Asian Gaming

IAG FEB 2021年2月 亞博匯 29 封面故事 Che Woo’s newly formed Galaxy Entertainment. In what was seen as an upset, the LVS-Galaxy team won a concession in February 2002, along with Steve Wynn and Stanley Ho’s SJM, over more established Vegas names such as MGM Mirage and Caesars. When Adelson had resumed work, Weidner convinced him of Macau’s extraordinary potential. The partnership agreement called for total investment of US$1.1 billion, Galaxy providing the capital, LVS receiving management fees and an option to acquire 30% of the project. Adelson pushed to spend faster than Galaxy wanted, and the Hong Kong company tired of Nevada regulators’ disclosure requirements. Meanwhile, a post-9/11 rebound in Vegas gave LVS means to fund its Macau ambitions alone. Approaching the government’s deadline for a formal partnership agreement, LVS and Galaxy sought a split. Whether the two sides really were irreconcilable or Adelson simply wouldn’t settle for 30% of the Macau goldmine can never be known. As government officials scrambled to find a solution, LVS produced an ace in the hole. “Thank you for the land, but I can’t find it,” Adelson asked after seeing Cotai, the swampy site officials offered for The Venetian Macao. In 2002, the unfinished landfill joining Macau’s outer islands Taipa and Coloane was a 5.8 square kilometer (2.2 square mile) white elephant. Joking aside, Adelson saw Cotai’s potential to host not just The Venetian but a local version of the Las Vegas Strip. Some believe Adelson offered developing Cotai as leverage with Macau authorities in the Galaxy dispute. SPLITTING THE BABY Unwilling to lose Adelson’s convention and development ambitions or remove the only new ethnic Adelson was renowned as a tough leader, a driven entrepreneur whose gruff and abrasive manner didn’t endear him to all, yet undoubtedly earned the respect of most. 艾德森以其強悍個性及領導力著稱， 是一名雄心勃勃的企業家，其不客氣 及急躁的態度或未能取得所有人的歡 心，但嬴取了大多數人的尊敬。 鑑於國民黨是北京的死敵，所以一些人都對於這個錯誤決定感到 驚訝。 勉強結合 澳門特區政府的娛樂場幸運博彩經營批給競投委員會，對 LVS提出建設臨時娛樂場及全新的威尼斯人會展娛樂場模式的 建議表示贊許，但否決了其台灣合作夥伴的資格。所以澳門相關 方面促成了LVS與香港地產富商呂志和新設的銀河娛樂合作。兩 家企業組隊於2002年2月成功奪得一張娛樂場博彩經營牌照，雖 然此聯盟往後瓦解，但當時成功力壓拉斯維加斯其他更出名的企 業，如MGM Mirage及凱撒娛樂，而另外兩張賭牌由史提芬·永利 及何鴻燊的澳博奪得。 當艾德森復工後，Weidner成功說服了他澳門是具有巨大的 潛力。LVS與銀娛的合作協議的總投資額達11億美元，由銀娛提 供資金，LVS收取管理費，並可選擇購入項目的30％股權。艾德森 推動項目投入的速度遠較銀娛所想的快，而該香港企業也對內華 達州監管機構的披露要求感到厭倦。另外，拉斯維加斯市場於「九 一一」後復甦，讓LVS有能力獨自為其澳門雄心壯志的計劃籌集資 金。