Casino mogul Stanley Ho has passed his throne to his fourth wife, Angela Leong, after a power struggle within his family. Ms. Leong now controls one of Macau's most lucrative gambling operation, which earned $457 million on revenue of $7.4 billion from its 20 casinos last year.
WSJ reports that Ms. Leong has an ambitious plan to "spend $1.3 billion to build a Macau theme park and resort with six hotels, an indoor beach and an equestrian center. The complex won't have a casino, however, in line with the Macau government's efforts to diversify the economy."
Whether this project will expand the Ho empire further, I give Ms. Leong two thumbs up for creating job opportunities to the people of Macau. Macau is outpacing Las Vegas in terms of revenue, which Macau earned "more than quadruple that of Las Vegas."
I have talked about Stanley Ho's news in my blog too, but I didn't keep track of his news. It is great to know the drama is finally ended.
ReplyDeleteAccording to my memory, I believe Macau has already outpaced Las Vegas in terms of revenue. Most probably because of the huge amount of tourists from China.
Also, I think Ms Leong's plan is pretty cool, and I look forward to the implication of her plan. I will support the theme park for sure. Two thumbs up to Ms Leong.