67
ously changes in the market place drive the thinking but also listening to our customers, what do they want the most and how can we respond successfully to their changing needs,” he says.
Attractive play The high-limit market is a growing seg- ment, with higher pro t margins for ca- sino operators than VIP play, since there are no junket operators involved. Over- all betting volumes are much lower. Mr Billany says the de nition of a
high-limit player is related to table lim- its where they typically gamble. “It is usually the [higher] table limits. It can be HK$3,000, HK$5,000, HK$10,000 limit tables. Once they get to about HK$20,000, they may turn to go to the premium programmes that exist.”
BRIDGES CROSS COTAI DIVIDE T
High-limit players represent rough-
ly the top 10 percent of the mass mar- ket, according to some estimates. “It is a sizeable number, that is very pro table and extremely loyal. That is why they are extremely important to our business. They stay longer, they play longer,” Mr Billany says. “We have to build a better business
model to target that segment. They are much more sophisticated, both the play- ers and their demands.” Sands China began targeting high-
limit players in a more systematic man- ner at the Plaza casino at the Four Sea- sons. “It had great success,” Mr Billany says, adding revenue for this segment there has been growing ahead of
the
overall market. He is not expecting the revamped
high-limit area at the Venetian to can- nibalise business at the Plaza, since they have different customer bases. Most high-limit players at the Venetian are from the mainland. At the Plaza, close to two-thirds are from Hong Kong. “I know it is going drive growth,”
Mr Billany says. “It is going to better yield the square footage that we have in terms of asset utilisation and it is going to drive loyalty and share of wallet.” The new high-limit gaming area
is not the only recent innovation from Sands China. Last month, it introduced a HK$50-million payday it is calling “Asia’s biggest jackpot” to launch a new series of MegaBucks slot machines. About 140 new machines will be in op- eration at the Venetian Macao, Sands Macao and Plaza casinos.
he government has approved the construction of the rst pedestrian yover connecting two casino resorts
in Cotai. A source from the Lands, Public Works and Transport Bureau told Macau Business the license to build a pedestrian yover connecting Sands Cotai Cen- tral and the Venetian Macao was approved in October. Sands China Ltd., which owns both properties, sub-
mitted the project for approval in 2008, a source within the company told Macau Business. The yover will be equipped with lifts, regular stairs,
escalators and air-conditioning. The yover will also have direct access to the street on both sides. The construction of a second yover has also been
already agreed upon between Sands China and Melco Crown Entertainment Ltd., to connect the Venetian and City of Dreams. The project has been submitted to the government and is awaiting approval.
last month. The regulator has decided not to take any measures against the company. Sands China was being investigated for alleged breaches of regula-
HONG KONG DROPS SANDS INQUIRY T
tions of the Securities and Futures Commission but neither the company nor the regulator disclosed further details on the nature of the investiga- tion.
Sands China is also being investigated by the Nevada Gaming Con-
trol Board, the United States Securities and Exchange Commission, the Department of Justice and the FBI regarding alleged improper practices by the company and its parent, Las Vegas Sands Corp., in Macau, fol- lowing a court case led by Sands China’s former chief executive Steve Jacobs. In the lawsuit led in a Nevada court, Mr Jacobs alleged he was wrong-
fully red. In the court lings, he accused Sands China and Las Vegas Sands of using improper leverage against Macau government of cials.
JANUARY 2012
he Securities and Futures Commission of Hong Kong has concluded its investigation of Sands China Ltd., the gaming operator announced
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