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Showing posts with label las vegas. Show all posts
Showing posts with label las vegas. Show all posts

Friday, 29 September 2017

SWAZI KING DEALS WITH $18bn BANKRUPT

King Mswati III of Swaziland is trying to do a business deal with an American conglomerate that has been in bankruptcy protection for two years after owing US$18 billion.

He wants Caesars Palace, famous for its casinos, to run the proposed International Convention Centre (ICC) and hotel in Ezulwini.

The Swazi Observer, a newspaper in effect owned by the King who is sub-Saharan Africa’s last absolute monarch, reported on Thursday (28 September 2017) that he and government ministers had discussed with Caesars Palace management at the hotel in Las Vegas a plan for the potential of the proposed ICC.

The Observer reported, ‘The meeting took place after an hour’s tour of the hotel yesterday where His Majesty the King was given a full display of what it has to offer by President of Caesars Palace Gary Selesner. The main attraction is the gaming at the Casinos. The hotel also has state of the art entertainment facilities and meeting halls.’

The newspaper devoted part of its front page to the visit and also published a story with four photographs of the meeting inside written by‘The King’s Office Correspondent.’ It said the Caesars Palace management had promised to submit a proposal on what it would cost to manage the ICC and hotel.

The report said Caesars had grown through development of new resorts, expansions and acquisitions, and now operates casinos on three continents.

What it did not report (but the information is freely available) was that Caesars Entertainment Operating Corp (Caesars Palace’s main operating unit) filed in the United States for Chapter 11 bankruptcy protection in January 2015 to protect itself from creditors who were owed US$18 billion. In January 2017 Reuters news agency reported that a deal had been made with courts to shed US$10 billion of the debt. The company will be reorganised as part of the deal.

In a report on media freedom in Swaziland in 2013, the Media Institute of Southern Africa described the Swazi Observer as a  ‘pure propaganda machine for the royal family’.

Members of the Swazi Royal Family are no strangers to Las Vegas. In 2012 it was reported that three of the King’s wives (who at the time numbered 13) travelled to Las Vegas with an entourage of about 65 people on a multimillion-dollar spending spree and vacation.  They reportedly stayed in 10 separate villas – each costing E20,000 (US$2,400) per night.

The Queens on the trip were named by the Mail and Guardian newspaper in South Africa as LaNgangaza née Carol Dlamini, LaMagongo née Nontsetselo Magongo and LaNkambule née Phindile Nkambule. 

Reports said the trip would cost the Swazi taxpayers at least E36 million (US$4.6 million). Seven in ten of the King’s subjects live in abject poverty, with incomes of less than US$2 a day. Political parties are banned in the kingdom and all forms of prodemocracy protest are quashed by state forces.

The Mail and Guardian reported at the time that funding for the trip was supplemented by money from the national fund Tibiyo which is supposed to be held in trust for the nation. A ‘large sum of cash’ was understood to have been withdrawn, it said.

The plan for the E1 billion ICC that includes a five-star hotel is being led by the Government of Swaziland through the Millennium Projects Management Unit within the Ministry of Economic Planning and Development. Government has said it will fund the project.

It is proposed the centre will be able to accommodate 4,500 guests at any one time and include a secure chamber room to take 53 heads of state. Other features include a 3,500-seat banqueting hall and a 1,500-seat theatre. It is proposed the centre will be completed ahead of the African Union summit due to be held in Swaziland in 2020.
See also

SWAZI QUEENS OFF ON SHOPPING SPREE
SWAZI QUEENS’ HISTORY OF EXCESS
QUEENS ON US$10 MILLION VACATION

Thursday, 26 July 2012

GOVT DENIES QUEENS’ SHOPPING SPREE


The Swaziland Government has denied that some of King Mswati’s 13 wives are to go on a multi-million rand shopping trip and holiday to Las Vegas.

News has circulated the world saying that three of his wives will be in a party of 66 people to make the trip. They reportedly will stay in 10 separate villas – each costing R20 000 (US$2,400) per night.

The Queens on the trip have been named by the Mail and Guardian newspaper in South Africa as LaNgangaza née Carol Dlamini, LaMagongo née Nontsetselo Magongo and LaNkambule née Phindile Nkambule. They will be accompanied by some of their children and domestic staff.

Percy Simelane, the Swazi Government’s official spokesperson, denied to the Daily Sun newspaper in South Africa that the trip was to take place. He is reported saying, ‘The king has no such trip.’

Simelane, who speaks for a government handpicked by King Mswati III, sub-Saharan Africa’s last absolute monarch, might be playing with words, since the King is not thought to be accompanying his wives on the trip. He is presently on an official trip to Namibia and it has been reported in the international media that he will visit the Olympic Games in London, which start tomorrow (27 July 2012).

The Daily Sun reported the total cost of accommodation alone on the Las Vegas trip would be in the region of R1,2 million. It added that the party were to travel by private jet which might cost R36 million. 

It said that Swazi queens traditionally buy clothing and gadgets for themselves, children and aides on these overseas sprees. They are said to happen about twice a year with the king’s wives taking turns to go. 

The Mail and Guardian reported that funding for the multimillion-rand trip was being supplemented by money from the national fund Tibiyo. A ‘large sum of cash’ is understood to have been withdrawn recently.

Lucky Lukhele of the Swaziland Solidarity Network operating out of Mzansi told the Daily Sun the planned trip was an insult, given that his people were living on donor food.

‘People living with HIV have to eat cow dung so that they can take their medication,’ he said.

See also

SWAZI QUEENS OFF ON SHOPPING SPREE

Wednesday, 25 July 2012

SWAZI QUEENS OFF ON SHOPPING SPREE


Democracy advocates in Swaziland are reporting that several of King Mswati III’s 13 wives are going on a multi-million rand shopping trip and vacation to the gambling capital of the world, Las Vegas in the United States.

The Swaziland Solidarity Network (SSN) says three of the wives will be accompanied by an entourage of 55 people. They are expected to stay in 10 villas at the cost of R20,000 (US$2,400) per villa per night.

SSN reports that a private jet will be used to transport the Royals. They are expected to arrive in Las Vegas on 4 August 2012.

Previously, SSN reported that the queens would also be visiting Spain and the United Arab Emirates.

SSN said in a statement, ‘The total cost of this trip is unknown. However, similar trips in the past have cost the [Swazi] taxpayer at least R200 million as they will be travelling by a privately hired jet.’

The trip is not unusual. Every year a party of the king’s wives go on a luxury shopping spree.

In 2010, a group of the king’s wives went on what was described at the time as ‘another multi-million dollar international shopping spree’ to Brussels in Belgium and London, UK.
About 80 other people went on the trip to tend to the needs of the queens.

In August 2009, five of King Mswati’s wives went on a shopping trip through Europe and the Middle East that cost an estimated US$6 million.

At the time media in Swaziland were warned not to report on the trip because it would harm the king’s reputation. Media houses were told they would face sanctions, including possible closure, if word got out. But newspapers and websites across the world followed the story.

The Times of London, for example, reported how the queens went on a shopping spree while the subjects of King Mswati, sub-Saharan Africa’s last absolute monarchy, went hungry.

The Australian newspaper said the king ignored the Swazi poor and the newspaper reminded readers that Swaziland relied on international aid from the European Union and the United States.

The previous year in August 2008 when a group of the king’s wives went on a similar shopping spree ordinary Swazi women were so outraged that they took to the streets of Swaziland in protest.

King Mswati, rules as sub-Saharan Africa’s last absolute monarch. Seven in ten people in Swaziland live in abject poverty earning less than two US dollars a day.