Macau Casino Skimming
HK$100,000,000,000, US$13 Billion Dollars... stolen from Macau's casinos in the last five years.
That's a lot of patacas.
How much is US$13 billion dollars?
It's enough money to build four identical copies of Wynn Las Vegas and most of Wynn Macau.
It's US$3B shy of the entire 2004 Gross Domestic Product of Macau
It would buy you 148 million barrels of crude oil that could power 5.2 million Honda Metropolitan motor scooters, 2 scooters in each the five colors offered for every person who lives in Macau.
It would buy Stanley Ho 40,000 of those monster sized truffles he likes so much.
It would buy you a $1000 room at Galaxy StarWorld every night for the next 35,000 years.
You could lose every hand of $2,000 blackjack @ 60 hands per hour, 24 hours a day, seven days a week for 12 years and three months and still have enough money to eat at the casino buffet every day for the next couple of years.
You could buy Picasso's "Le Reve" 93 1/2 times... at least at the price Wynn was asking before he poked a hole in it.
Sheldon Adelson could match his 2004 contributions to the Republican Party every Presidential election year until 558156 AD.
You could build:
54 Sands Macao's
22 Crown Macau's
19 MelcoPBL Trinities
11.4 MGM Grand Macau's
11 Macao Studio Cities
10 Wynn Macau's
6 Cities of Dreams or
4 Venetian Macao's
If this is true, then all of the financial numbers that the new players in Macau are comparing their performance to are completely wrong and the Macau gaming economy is bigger than previously thought. The folks at Crown Macau, who just signed an exclusive deal with one of the largest junket operators, best have their maintenance crew squeegee off the eyes in the sky because they really need to monitor AMAX, or else.
Additionally, it means that the market share numbers they are floating about are completely askew as well. Holy crap? If the casinos can right this screw job by junket operators, than there are good things to come in future financials, if not... Macau gaming stocks might seriously tank.