Galaxy Casino stood little chance of winning one of the Macau casino concessions as recently as a week ago - but all that changed when one of Las Vegas' biggest players decided to join forces with the group.
The Venetian, one of the biggest resort casinos in Las Vegas with 3,036 guest rooms, told the bidding committee it had switched its allegiances from a Taiwanese-linked bid and teamed up with Galaxy last Friday. Hong Kong magnate Lui Che-woo is one of the main Galaxy shareholders.
Francis Tam Pak-yuen, president of the tender committee, said the Venetian informed officials it no longer held any shares in the original bid - Asian American Entertainment Corporation.
Mr Tam, who is also Macau's Secretary for Economy and Finance, said the committee had been giving the Venetian top marks because of its development concept and the group's experience in hosting international exhibitions.
'Regardless of which companies the Venetian is with, what we've considered are its own credentials,' Mr Tam said.
He admitted that Galaxy Casino would have had a slimmer chance of winning before joining up with the Venetian. 'While the Galaxy Casino's rating was not high at that time, I'm not saying that it does not have any strength at all,' Mr Tam said. Asked if there was any political consideration behind the Venetian's change of its bidding partner Mr Tam said the Government had not intervened in the decision-making process.
Macau's Va Kio Pou newspaper yesterday reported that the former Kuomintang finance chief Liu Tai-ying was one of the bosses of Asian American.