Local media is reporting that a war of words has emerged again between Sands China Ltd boss, Sheldon Adelson and Galaxy Entertainment Group (GEG). The quotes attributed to gambling mogul Adelson seem to closely mirror another American business tycoon’s tactic of attempting to diminish his competition in others’ eyes while building up his own stature; a tactic and demeanor not often seen in the more humility-based business culture of Asia.
Macau Business Daily states that they have been given a GEG response to Adelson’s comments that appeared last week in a report by investment and research firm Sanford C. Bernstein & Co., LLC. Reportedly, Mr. Adelson said at the Bernstein Strategic Decisions Conference in New York that Galaxy Phase 2 and Studio City have failed to bring new footfall to Macau because of “a lack of differentiation and distinctiveness of the new casino properties”. The analyst went on to quote Mr. Adelson as saying, “the opening of Parisian with its unique attractions may change [the driving of new visitors]”.
Business Daily reported yesterday that Galaxy issued a statement to them that said the businessman’s comments were “impolite” and that, “Galaxy Entertainment Group (GEG) would like to express its deep disappointment in his unprofessional behavior. Belittling the competition through unfair comments benefits no one,” the outlet reported.
GEG noted that the stagnation in visitor growth is down to the global economy and each industry’s overall performance, “Overly simplifying the reason for the lack of growth in Macau’s visitor arrivals, brings into question his understanding of the business,” the operator told MBD while adding, “Our average hotel room occupancy is 99 per cent, while the hotel room occupancy at Venetian is less than 78 per cent,” the operator claimed, laying waste to any perception that GEG is failing to attract visitors.
The outlet noted that this was not the first time GEG found itself in a position of defending itself after comments by the Sands chief, referring to an exchange that happened in July of last year.