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...with the same period a year earlier; the number of visitors to the city dropped by nearly 10% in the first quarter. The declines are hitting hoteliers and casinos hard. Melco Crown Entertainment, a Nasdaq-listed joint venture between Laurence Ho (Pansy Ho's brother) and Australian billionaire James Packer, recently reported it lost $35.3 million in the first quarter, compared with a $43.2 million profit in the same period in 2008. It was the fourth straight quarterly loss for the company, which operates Macau's Altira hotel and casino...

Author: /time Magazine | Title: Fortunes Fade for Macau's Casino Kings | 5/21/2009 | See Source »

...lately, the wait for the café's signature Packer breakfast sandwich, which is two eggs and sausage covered in gravy on a biscuit, has been shorter than usual. On a recent Tuesday morning at 7 a.m., the restaurant was only a quarter full. "One of the drilling crews just got laid off," says waitress Theresa Steffen. "It's slowed down a little...

Author: /time Magazine | Title: Oil-Price Drop Forces Big Energy to Retreat | 12/3/2008 | See Source »

...written and directed by Tim Robbins for his L.A.-based Actors' Gang. The war has been a jumping-off point for psychological family drama (Christopher Shinn's Dying City, about a war widow reunited with the brother of her husband, recently killed in action) and for polemical journalism (George Packer's Betrayed, based on his reportage about the plight of Iraqi citizens who went to work for the Americans early in the war, then were abandoned to face sectarian revenge). Some plays are stripped-down monologues, like Judith Thompson's Palace of the End, in which an Iraqi woman...

Author: /time Magazine | Title: Stage Fight | 10/23/2008 | See Source »

...competition with their father. Pansy teamed with Vegas firm MGM Mirage to develop casino-hotels in Macau, opening the MGM Grand Macau in 2007. Stanley and Lawrence founded Melco Crown as part of a joint venture with Australia's Publishing and Broadcasting Ltd., founded by the late billionaire Kerry Packer. (Kerry's son James is now co-chairman of Melco Crown.) Citing a conflict of interest, Stanley later left the operation to run his original casino company, Sociedade de Jogos de Macau. Lawrence says he never wanted to work for his dad. "I thought I wouldn't learn anything because...

Author: /time Magazine | Title: Chip off the Old Block | 9/4/2008 | See Source »

...those of you who are unfamiliar with the history of Fair Harvard, Gilman’s 172 year old hymn began with the phrase “Fair Harvard! Thy sons to thy jubilee throng!” Obviously, there is a gender-insensitive term there which prompted Kendric Packer ’48, to propose a contest to Harvard alums to provide a fitting alternative. Simply replacing “sons” with “children” had a belittling connotation and afforded one two many syllables to keep pace with the old Irish tune...

Author: By Brian S. Gillis | Title: Fair Harvard | 6/4/2008 | See Source »

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