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Thread: From one gambling / organized crime / money laundering operation to another.

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    Great Value Carrots Dachsie's Avatar
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    From one gambling / organized crime / money laundering operation to another.

    Sheldon Adelsson moving his Las Vegas Casinos to China-owned Macau

    From one gambling / organized crime / money laundering center to another.



    9:01 video runtime

    Las Vegas Sands Getting Out Of The American Market At Distressed Prices, Restaurants Closing Shop
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    •Oct 29, 2020
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    The Sands casino's owners is looking to dump a bunch of properties (casinos) on an illiquid market at distressed prices and the crazy part is they just don't care. The bigger story is they are selling because they are finished with the American market due to what they describe as years of underperformance compared to their casinos in Macau and Singapore so they are going to expand their footprint in these areas and looking for a buyer to unload several prominent properties. The thing is the hospitality industry has been crushed and no one is interested in buying casinos, in fact, many industry experts are warning the sale of the 3 properties for $6 billion could start a mass exodus of other casinos from the area. The owner of the Sands said they have come close to approaching break-even in Macau whereas in Las Vegas they are still operating at significant losses and reduction of business. Another industry going through drastic changes in the restaurant industry and a new trend is restaurants closing their physical restaurants and making their food in what is called "ghost kitchens" and using food truck and delivery service contractors to reach their customers. These are fascinating and major transformations taking place and the question arises will they ever return to the 2019 style of doing business.

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    Remember that Sheldon Adelson donated 25 million dollars to Trump first campaign fund.

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