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One of the successful bidders was a partnership between Galaxy Entertainment and Las Vegas Sands, that fell apart. Most regulators would have told the partners, “It’s your problem.” But since concessions were not limited to a single casino, the Macau government allowed Galaxy to have the concession and created a new law, creating a sub-concession for LVS. CityCenter in Las Vegas has now opened, and appears to be enough of a success to save MGM Mirage, the second largest casino company in the world (Harrah’s is first), from bankruptcy.
But, it almost didn’t happen, due to the treachery of its partner. Only the brilliant poker playing of Kirk Kerkorian, who controls MGM, saved the day.
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