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Las Vegas Sands Corp. Message Board

  • mbablitz mbablitz Mar 1, 2013 8:57 AM Flag

    Here's the gaming crackdown...

    I've been trying to tell you guys its about Bo Xilai...
    The casino cruise operated by the Macau junket operator, Neptune Group Limited, is allegedly linked to “illicit economic transactions” with a long list of influential mainland officials. This includes, according economic publication, Caijing Magazine, the former Chongqing Communist Party chief, Bo Xilai.
    The report mentions that Neptune’s boss Lin Cheuk Chiu, nicknamed the “gaming mogul of the high seas” because he operates a casino on a luxurious 9-storey cruise ship, forms an extensive money-laundering, smuggling and corruption network with some of the mainland’s most prominent businessmen and politicians. These include Huang Guangyu, the former richest man in China and Chairman of China’s top electronic retailer, Gome, as well as the family of the disgraced official, Bo Xilai.
    “The results of recent investigations found that the financial records of Bo Gu Kailai (one of Lin’s casino clients and Bo Xilai’s wife) and her family are interconnected with Lin’s casino and his underground banks. Mainland investigators have intercepted numerous businessmen who have financial links with Bo and Gu Kailai, and suspect them of irregular deals with the Bo family.”
    The article stated that “while mainland officials and businessmen were sent to prison, Lin is still free and active in Macau casinos,” and added that court documents showed that Lin and his family are actively involved in bribery, money-
    laundering, smuggling and loan-shark businesses.
    According to Caijing Magazine, the cruise has a maximum capacity of five hundred passengers (and a monthly average load of more than 10,000 people) who are shipped out to the high seas to engage in gaming that doesn’t incur tax payment, licensing and other legal restrictions that their counterparts within Macau territory do. Neptune recorded a turnover figure of HKD 415 million in 2011.
    The company did not respond to MDT’s enquiry over the report.The British Times also report

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    • Nice find, blitz. The publicity could yield the same result it did in Hunan (sp)... a shutdown.

      • 1 Reply to bjspokanimal
      • Come on, Spok, try your Google Maps or an old Rand McNally -- it's "Hainan Island". Long known as the "Hawaii of South China". (Am a bit shocked that someone portraying himself, as you do, as knowledgeable about the China market area would be uninformed about this.) Interestingly, its explosion as a tourist destination seemingly has always been just around the corner and rather over-hyped. There's no way the China central govt would allow Hainan's activities to ever choke off Macau's, by the way. Hainan is but a tourism flyspeck compared to Macau, in terms of critical mass of attractions and activities. While gaming is the core, Macau has grown into much more than just a bunch of casinos.client swimmers, out in the water off the beach. But as Macau is awash in land-based #$%$, including a large Russian contingent, the beach girls are no real threat . . .

        Sentiment: Strong Buy

    • Good stuff, MBA. No surprise at all, of course, to see a web of corruption and political influence-peddling that reaches right to the top. If at some point Lin's protection (however he has achieved this) wanes, he'll take the big drop, too, just like Bo. In the meantime, it'll be business as usual.

      But as you imply, it would be nice to know that the corruption gun sights are mainly trained on the likes of Lin and his floating den of vice, and not on the more legitimate gaming entities like LVS, MPEL, WYNN, SJM . . .


      Sentiment: Strong Buy

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