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Friday, July 31, 2015

Is Las Vegas Sands A Victim Of Geopolitical Rivalry?

Interesting excerpt:

Is Las Vegas Sands A Victim Of Geopolitical Rivalry?

According to the Guardian, which cites a secret report commissioned by Sheldon Adelson's China unit, Sands China, back in 2010, Chinese authorities in the mainland feared U.S. gambling establishments were used by the CIA to ensnare and blackmail Chinese officials. The report, which was prepared by a private investigator amid disquiet among U.S. establishments in the former Portuguese territory, stated that several Chinese officials believed the CIA was very active in Macau, adding that U.S. intelligence infiltrated and utilized U.S.-owned gambling businesses to "support their operations."
The investigation was conducted after it was felt that Macau's authorities were turning increasingly hostile toward U.S.-owned casinos, particularly Sands China, according to the Guardian's recent article.
While LVS has ridiculed the report, calling it an "idea for a movie script," from an investor's point of view, one cannot ignore this story. Given that China today is the biggest geopolitical rival of the U.S., China's crackdown on corruption could well be a ploy to scare away government officials from gambling in Macau.

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