Word: kong
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Defying predictions of an electoral trouncing, Hong Kong's democrats managed to keep their toehold on political influence in the Sept. 7 elections, winning 24 seats in the city's 60-member legislature and maintaining their veto power over any changes to the territory's constitution. "At the beginning, the pan-democrats were nervous about the result," says James Sung, a political scientist at the City University of Hong Kong. "But they still maintain good momentum, and they have the power of constitutional review. In this sense, they are the winner...
...funnel traffic to the casinos, which pay them commissions. Macau has scores of independent junket operators, making business unpredictable. Ho figured out a way to get a core group of operators to act as consistent suppliers. In December 2007, he formed a partnership with an affiliate of a Hong Kong - listed gaming company named Amax Entertainment Holdings; Amax raised $250 million through a stock sale, which was then used to provide financing to eight junket operators. In effect, Amax became like a central bank for the high-roller market. Using this financial leverage, the Amax affiliate funneled gamblers...
...leverage, but analysts say Amax's financing power still gives him an advantage. "Once you've got the kind of critical mass Ho's got, it will be difficult to dislodge him as a true contender in Macau," says Anil Daswani, Citi's head of gaming research in Hong Kong. Ho "has invented a product that will be difficult to replicate...
...Adelson's Venetian, situated right across the street. Adelson, too, is bringing even more options to Cotai, including a Four Seasons hotel, which opened in late August. "In the beginning, [City of Dreams] may have a tough time," says Gabriel Chan, a gaming analyst at Credit Suisse in Hong Kong. Ho, though, says he isn't worried. "Unlike some of our competitors who have cookie-cutter projects from the U.S., my vision has always been to create unique 'Wow' experiences," he says. The hockey player could yet keep the big boys in check...
...mingled jazz, pop, R&B and funk, setting store above all on sheen and virtuosity. Although derided by jazz traditionalists, the genre had an exotic sophistication to middle-class Asian ears - and Jarreau was its house vocalist, his marvel of a voice swooping out of the speakers in Hong Kong penthouses and Tokyo wine bars...