Did the morning paper bury the lede about its owner’s casino business?

Parisian Macao to open. Hurray!

Shortly after The Wall Street Journal posted a story Monday afternoon about the Las Vegas Sands Corp. reporting that second-quarter earnings fell 30 percent due to poor returns from its Macau properties, I sent an email to a couple of former Review-Journal writers asking: “wonder what the headline will be tomorrow?”

The hed at WSJ: “Las Vegas Sands Profit Falls 30%, Hurt by Macau Declines.”

The hed in the R-J print version today: “MACAU CASINO: The Parisian gets opening date: Las Vegas Sands resort debuts Sept. 13.”

The online hed is: “Sands to open The Parisian in Macau on Sept. 13.”

Here are the opening two paragraphs:

Las Vegas Sands Corp. will open The Parisian, a resort embellished with a half-scale replica of the Eiffel Tower, in Macau on Sept. 13, the company said Monday in its earnings call with investors.

Sands Chairman and CEO Sheldon Adelson revealed the opening date and new details about the $2.9 billion, 3,000-room resort on Macau’s Cotai Strip before telling investors that second-quarter earnings dipped 32.2 percent to $394.4 million, 41 cents a share, compared with $581.5 million, 59 cents a share, in the same quarter a year ago. Revenue fell 9.3 percent to $2.65 billion for the quarter that ended June 30 compared with $2.92 billion a year ago.

A year ago the Las Vegas morning paper’s hed reported: “Sands quarterly earnings tumble over Macau concerns.” The lede recounted a 30.1 percent drop in profits.

 Could the difference be that Sands Chairman Sheldon Adelson’s family now owns the paper, as the disclaimer at the bottom of today’s story allows? Nah.
Surely the editors at the morning paper figure its readers are anxiously awaiting the news about the opening date of a fancy new casino half way around the world, rather than having any concern themselves about the profitability of the companies for which they work.
The company did report that in June its Macau operation showed its first monthly year-over-year increase in performance since September 2014 and stock prices rose in after-hours trading but has lost some of that this morning.

4 comments on “Did the morning paper bury the lede about its owner’s casino business?

  1. John L. Smith says:

    You’re always so negative. This is the new Las Vegas journalism, where everything old is new again and our friends can do no wrong. Try to Sally Forth.

  2. Or For Better or Worse? No, I spiked that one for a while.

  3. Connie Foust says:

    Sheldon Adelson is the dark mole on the neck of Nevada. He supports all crony capitalists whether it’s a Democrat or Republican. His core value is greed, nothing more nothing less.

  4. Patrick says:

    Core value to a businessman? According to most any libertarian you talk to, there is ONLY one.

    And it begins (and ends) with a $.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s