Las Vegas Sands Corp. (LVS) traded sharply lower this week (Aug 2008) on news that the Chinese government is likely to restrict travel to Macao. The conflict between free market economics and traditional Chinese communism is becoming apparent as China restrictions are now challenging businesses after significant investments have been made. Within the past few months the government has restricted Visa’s for nationals traveling to Macao to only be available once every two months. The most recent report is that the limits will be changed to only allow visits once every six months.
Timing for this new regulation could not have been worse for operators on the strip. Las Vegas Sands faces the potential for extreme challenges as many of its development projects go online over the next year. Room capacity will increase sharply, retail locations will be available to rent, gaming rooms will come online, and yet traffic from Chinese citizens may slow to a modest hum. This is completely unacceptable for a company that has borrowed and invested billions of dollars to develop the properties. http://zachstocks.com/2008/08/las-vegas-sands-corp-lvs-gaming-in-macao/
Game Re: LVS WYNN's about the same. People can't afford the gas or Airline ticket to get there & they can't afford the payment on their V (check it out) card if they charge on it. Dan
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