Tables Turn in Macau

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Casino mogul Steve Wynn has often said that the only way to make money in a casino is to own one. Well, in this economy, that might not even be true. Last week, Wynn’s nemesis, Las Vegas Sands’ Sheldon Adelson, announced that he would halt construction on the company’s $12 billion Cotai Strip project in Macau–the company was in danger of defaulting on billions of dollars in loans. The decision has claimed the jobs of 11,000 workers from Macau, Hong Kong and China. Other cash-strapped casinos may follow suit. See our full story here: Dark Days Ahead for Macau, Asia’s Las Vegas?