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For casinos in the count all the gaming -- win -- In -- -- reported Friday that its net profit for the first half of the year more than doubled.
Las Vegas not enjoying the same level of success.
At all let's -- to one of our resident textbooks on gambling.
Jeff ma he's -- atomic casinos project.
-- what we've constantly the Macau is the new center about -- if the gaming industry.
Is it and would it stay that.
We have absolutely imminent 2007 it was the first time that has surpassed gambling revenue was in Vegas and became number one.
And -- past experience great growth as the Chinese you know real estate market has experienced great growth.
But my concern and it's similar what I saw in Vegas recently.
-- for the last three to four years before the recession every single high roller and that was in mortgaging a real estate and all the sudden I never see those guys anymore in Vegas.
With secondly you united alimony in Vegas can't countenance -- you banned from the casinos why you make intimately what's your view of the math genius from MIT -- -- making millions the guys to a high -- with you.
That -- mortgage guns.
All the guys -- don't run into often times are either in real estate or -- and I just don't see those guys anymore in Vegas okay so what's that got to do with -- Why I think that you know if you wanna know what's gonna happen in -- you can look at what you think is gonna happen in the real estate market in China so -- -- market's gonna continue booming which it doesn't look like it well.
Then that's gonna have a direct effect and the gambling growth in Macau look at.
It isn't -- -- just that -- the Chinese culture isn't it more of up.
-- -- -- -- mainstream to gamble but it's a double -- a pastime in China that's why that is the Chinese have been so careful about a how mentally allowed -- go to McAllen things like that but it isn't just for the high rollers it is really spread throughout much of the middle class population and they throw a lot of money up.
High rollers right so yeah and you need money to gamble right so that then there's been excessive -- to gamble with.
And that's what's led to sort of the the growth and gambling that it is then there's not been a new breed of rich guys coming up the ranks that you're seeing them again it's just have to do what you think's gonna happen in that and that economy in general right it's not the and in time because that's where they're getting most of their people I've been in the Wynn casino in McCown took a different experience from a year -- of Vegas casino took a different threat.
Those who -- slot machines.
Not much alcohol right.
Well all table games and a very intense environment not much noise not much sound just an intense concentration -- gambling.
All the tables jam packed full of people with people waiting in line to take a seat at the table and and that's why my concern about -- in general is whether there are able to innovate in that market like they were in Vegas -- mean he's always been able to.
And -- in Vegas -- doesn't understand the -- gambler.
The -- that he understood what would you say the difference within the Asian gamble and the and that's exactly what you said there is much more focus on the gambling aspect of -- Gambling and food that's why you could.
That's why you get all these Las Vegas casinos -- -- -- have these restaurants great -- league great is in restaurants right so the focus is much more on the gambling itself -- the shows in the club I have to ask you questions a difficult question what is it about Chinese culture that encourages gambling to such a degree -- superstition.
Really I think that in general it's that superstition in numbers I mean we're a society -- love numbers and recited that in general is pretty superstitious.
Because anything about gambling right if you really boil it down to the numbers you know you're gonna lose so you need to believe and -- higher being that we'll help you win and that comes from superstitions.
There's no place more capitalistic than Las Vegas of these big casino owners are used to capitalism and now they have an ideology or political.
Issues with China so that's something else that comes the play and -- I don't like to say you don't want.
We're gonna greatly limit the number of people that we allowed a -- -- -- -- hit him instantly.
Yeah I mean I think that they've already limited the amount of money that you can bring in things like that tried to do things like that -- I didn't agree there is a tremendous amount of risk.
That we see in in that Chinese market with that let you in a casino in the count.
Because here to go to casinos outside of the US why we've got some run in some places and you know the Bahamas and other places like that run -- was that -- well.
You read the book and you can find out Alba and what's -- -- -- -- But I satellite that's certainly enough -- candidates play the odds to win big business that's a new -- is that yes -- that's nothing to do with a move to the movies from the book of a lot of the stories that weren't in the movie.
The house advantage.
How to win and business -- stuff Jeff thanks for being part of the show of prostate.
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