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HONG KONG: U.S. casino operator Las Vegas Sands Corp. plans to resume work in January on its multibillion-dollar gambling resorts in Macau after suspending construction last year amid a massive funding crunch, the company said.
LOS ANGELES: MGM Mirage posted a quarterly profit only after a huge gain from selling a resort, but the largest Las Vegas Strip casino operator said room cancellations were slowing. Excluding a gain of 44 cents per share on the sale of the Treasure Island resort and other one-time items, MGM posted a loss as gamblers stayed home and businesses cancelled conventions and meetings.
What started as a US financial crisis has turned into a global economic crisis. And the mess just grows bigger by the day, affecting real businesses and bringing down large economies to their knees.