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Meet The Casino With A $1.6 Million Minimum Bet
While China's economy is sputtering and its stock market is lagging the exuberance of the rest of the world's largest centrally-planned economies, it seems life is good for the richest of the rich. In Macau, "the VIP market is gaining momentum," with the industry’s April revenue the second-highest in history. About two-thirds of Macau’s casino revenue comes from high rollers who gamble on credit due to restrictions on taking cash out of China but as Bloomberg reports, last year, the big bettors pulled back across the industry amid speculation that China’s new government might restrict junkets and curb cash flowing from the mainland into Macau. With the political transition completed, the VIP business is back to normalcy - as evidenced by Sky 32, an elite oasis of luxury on the 32nd floor of the Galaxy Macau casino, offers commanding views, a waterfall, a bar with vintage single malt whiskeys - and six sumptuous rooms where players must commit to betting at least 10 million yuan ($1.6 million).
Just a few months ago, even over-the-top pampering like that available in Sky 32 wasn’t enough to attract big bettors from China, as many steered clear of Macau, the world’s top-grossing gambling hub.
Now, the high-rollers are coming back to Macau, which raked in $38 billion in revenue last year, more than six times that of the Las Vegas strip.
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“The VIP market is gaining momentum,” said Robert Drake, chief financial officer of Galaxy Entertainment Group Ltd, which owns Galaxy Macau. The industry’s April revenue “was second-highest in history. We are off to a great start for the year.”
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About two-thirds of Macau’s casino revenue comes from high rollers who gamble on credit due to restrictions on taking cash out of China. These people are often brought in by junket operators...
Last year, the big bettors pulled back across the industry amid speculation that China’s new government might restrict junkets and curb cash flowing from the mainland into Macau
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“We have not seen any evidence of a crackdown, it’s purely noise,” said Union Gaming Group analyst Grant Govertsen. “VIP business is picking up nicely.”
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VIP revenue in Macau tends to closely track sales of luxury goods, which slowed in the second half of last year, probably related to the government transition
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“Now the transition is completed, VIP business has come back to normalcy.”
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“VIP business will continue to be solid, although it may not be growing as fast as the mass market,” said MGM China CEO Bowie. “In absolute terms, the VIP business is huge.”
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There better be some damn good hookers there.
I have no problem committing to bet $1.6mil.
The problem is the time frame!
Amateurs.
http://c1038.r38.cf3.rackcdn.com/group4/building36450/media/05tmq4j.jpg
High LoLLers...
Hyperinflation, anyone?
Paging Mr Black, paging Mr Black - Simon Black, please pick up a white courtesy phone.
$10 a day for 160,000 day is ok Mr. Pradirow
I'm thinking the letter of credit might be an issue for me.
Man, I've spent so much time in Macau it's retarded. Yes, the hookers are pretty good. Asians of all shapes and (tit) sizes at around 100 bucks US. The Galaxy sucks, though. And you better like Baccarat and a cold deck. More interesting is the circuit at the Old Lisboa. Its a circular stretch in a junky casino -- one of the old Stanley Ho joints. Anyways, the hookers model themselves on this catwalk and wait for random whatnots and whonows to pick them up. The hotel is directly above and they will whisk you away up there should you so desire.
The circuit: http://www.youtube.com/watch?v=WPe9SXxEz6I
For my money, a spa, free food, a clean room and hooker of your choice at the Fortuna all for ~$150 is the pro move.
I was just kidding, but I had a look at that video and it was just what I expected.
Those girls are from the villages all over China.
The high class hookers in China aren't Chinese, they're white: Russian, Czech, Ukraine, even American, British, and Canadian. Rich Chinese guys love their white chix.
Those places cater to white sex tourists, not Chinese or even Foreign high rollers, really.
for what its worth, the circuit is the most low class joint for picking up hooks. But when you go there, not seeing too many white faces; doesn;t mean there aren;t Asian and Indian tourist looking ot get laid, but just sayin'. You are right though about those girls being from all over Chona.
Shit! CalPers been doing this for eons with taxpayer money, no less....
... while the kids at Foxconn make 78 cents an hour assembling iPhones.
Kids? That's the highest step on the ladder for most.
hell yeah! capitalism rocks!
Malikai; there are.
This is a gimmick. I was in Macau 2 weeks ago and foot traffic through the major casinos is unimpressive; as were the audiences for the auctions in Hong Kong last week (Christie's et al). I think the Middle Kingdom is slowing down and pulling in.
There are!
There better be some damn good hookers there.
_________________
Macau has a thriving prostitution sector as any 'american' encroachment must have.
There are alot of damn good ones in Macau and who come international to the place.
Diamonds...mudahfuckas!
Red Army slave masters blowing the labor from their Chinese plantations gambling in Macau; what could go wrong?
Fuckin Chinese....little bastards.....
I may be able to drink my money's worth on the whiskey...
the fed likes it. get rich or fuck you bitchez
Pulsating lights, pulsating women. Bonfire of the vanities. Everything fake. Looks like lots of fun....not.
The women can pulsate all they want, but they're too skinny .... I've seen more meat on an egg.
Needs some bodies like ya find on Germanic chicks a la 40's pinups
drooling all over myself
Knukles, indeed your type is few & far between but I will say this; nowhere have I seen such a high proportion of female beauty per corpus than in Hong Kong on this last trip. Many of the ladies are taller than I remembered (cross-pollination with their Mongol brethren from up North)? and they are well-dressed and, for the most part, ladylike. Nary a butt-cracked lumbering whale amongst them. It was like NYC in its prime; a pleasure to walk the streets and malls.
Ladylike.
Goes without saying that the quality of the lady, her character far supersedes the looks.
Indeed, ladies and gentlemen, in the true senses of the terms, are scarce commodities in this world.
Unfortunately...
Easier bet
1) Buy SPY Calls and Equites on Monday at 3:59 pm
2) ?????????
3)Sell SPY Calls and Equities on Tuesday at 3:59 pm
4)Profit!!!!
lol $1.6 million needed to enter the room
casino pays staff 20 cents per day
end of story
the article reminded me the good sci fi film "In Time"
https://www.youtube.com/watch?v=efNzhEKm3w4
I thought misleading photos was the domain of mainstream media?
A stupid looking fake diamond?
An idiot chandalier with two tourist taking a picture of it?
A room full of wannabe's on opening day standing around being chic?
This is no Sky32!
Fucking Lobby.
Looks like a 'con-artists', Paradise.
it's alot of fun so take what you can afford to lose
otherwise have 'stupid' tattoed on your forhead, it helps when you look in the mirror for responsibility for your own actions to pin down the "con artist"
who you kidding today bud?
"Tell you what I'd do if I had $1.6 million... two chicks at the same time."
-- Office Space
I think in Macau you could have twenty chicks do you at the same time for $1.6 million.
more helpless and irresponsible
and depraved... than a man in the depths
of an ether binge...
Skull splitting, shoot me now, blinding white headache hangovers.
Not recommended high for addictive cig smokers
Check.
Considering all the things you can buy for 1.6Mil, buying a lottery ticket for it might be at the absolute bottom of the list(just before wiping your @ss with it and flushing down the toilet),
any1 having this much to blow and actually doing it should be shot in the head on the spot
Bet they serve this for breakfast:
http://uncrate.com/stuff/23k-gold-chocolate-bacon/
Makes the Smithfield acquisition make sense now too.
Gentlemen! Welcome to the Quantitative Casino. Please place your bets!
Mr Kuroda – all in on red….
http://nipponmarketblog.wordpress.com/
It's a good metaphore of our times.
Now that's a table you don't really want to sit on too long.
Instead of a twirling diamond in the lobby, they should have a statue of Bernanke.
Easy, bet $1.6 million on black, maybe make $1.6 million. If you lose, move $10 million into NFLX, make your $1.6 million back in fifteen minutes. Bet the $1.6 million again, lose, put $10 million back into AMZN, make back your money.
Or you can buy some Nat Gas contracts and make 20% in ten seconds if the data goes your way on Thursday.
Wait, why does anyone gamble in a casino anymore?
Ameritrade doesn't serve me "free" drinks while I roll the dice...
Interesting tactics casinos employ to keep folks gambling:
http://www.businesspundit.com/10-most-sinister-ways-casinos-keep-you-gam...
you have an equally sinister 'Life-Worm' embedded/micro-chipped inside you (at birth would you believe) that's got you hooked on food, addicted to water, absolutely infatuated with sex and replicating
that's life huh?
Those would be the lowest common denominators for many life forms.
To Zero Govt re: Life-worm
+1000000000000000000000000000000
Actually, the addiction to food and water and sex is passed down to you from your parents, who were also addicted. These days I am convinced that someone knows the cure but won't tell us because they'd rather keep us enslaved.
I honestly believe that there's tacit understanding of this by the government and they might actually encourage it. Why you ask? Simple. Soft power.
Richer than god types can either dick around in China and piss everyone off getting richer. Or they can go to Macau, launder their money and then go dump it off overseas in whatever. As long as China stays on good terms with these people, it's win win. The more influence they have abroad, the more influence China has. And the more money is sucked out of China, the less inflation there is. The government already has more than enough reserves to not give much of a fuck.
I miss my annual pilgrimage to Macau as I used to sponsor a European-World Touring car driver, its most succesfull one, who had to be nobbled ala-Bernie-did-to-Schumacker in F1 as he kept on winning the Series
the Chinese love, LOVE betting, they jet in regularly just for weekends from mainland China, they make bigger faster profits in Macau than Las Vegas from a standing start barely 10-15 years ago
Speed, it shows skill in any human activity... China is fast developing, Europe and the US is bogged down in red tape from the cretins of commerce, lawyers in Govt
Money also runs to Freedom, Macau, Hong Kong and Singapore are all 'light-touch' jurisdictions, or were. Want to revive our economy, get rid of the meddling monopolist sewer trash that is Govt
I must return to Macau, i beat one of its biggest Triad members, who are 'The Law' in Macau on his favourite, the Roulette table.. I hate bettign but always win at Roulette, be it Macau or Monte Carlo.. I should follow it up soon and my Triad friend who's an absolute hoot to party with... the Chinese make great lifelong friends
Zerogovt, where do you like to stay? We tried a modest yet impeccable small hotel in the 'Three Lamps' district (Pousada de Mong Ha) and the hotel & environs were delightful and night & day different from the strip.
Not swingin' at all but after six days in the cauldron it was a welcome change; the sound of cicadas and Macacks in the morning on the hill where the Portugese battlements used to be ... recommended for nervous types!
The Macau casinoes are riots of excess:
"Greatnesse or brightnesse conferreth not excellence" -- John Milton.
Wre seeing a casino glut here in the states.
Macau is a good place to go to study 'american' economics in action.
Quite a safe place to be while the violence connected to the business in place is moved on the outskirts.
The way 'americanism' works.
at least the proceeds from selling Rat Meat and toxic baby formula is going for a good cause
So what is the difference between the casino and what the central banks are doing?
At the casino you bet only for yourself.
At the FED you are gambling on behalf of a whole nation.
Does digital (bitcoin) currency work?