(Reuters Breakingviews) - Macau is being pulled into dangerous crossfire. China ...
The Venetian is seen during the opening ceremony in Macau August 28, 2007. The world's biggest casino opens in Macau on Tuesday, the most ambitious throw of the dice yet in a $24 billion effort to build a Las Vegas-style"neon alley" in this once-sleazy Chinese gambling enclave. REUTERS/Paul Yeung
Sprawling resorts mean the tiny territory has the capacity to host this kind of circus. That makes it a credible substitute for Chile’s capital, after Santiago cancelled a planned November summit amid mass demonstrations. But the proposal, unofficial as it is, does more than offer a quick diplomatic fix.
As importantly, it would be an unsubtle reminder to casino owners of what is at risk if a larger deal is not reached. Three of Macau’s six licenced casino operators are owned by U.S. parents, Las Vegas Sands, Wynn Resorts and MGM Resorts. With negotiations for new licences scheduled for 2022, there are billions of dollars at stake. The Beijing-backed local government might offer less favourable terms.
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