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PHILIPPINES – PAGCOR CONFIRMS TENDER PROCESS PAGCOR, the Philippine Amusement and Gaming Corp, has confirmed that any new casino projects will have to go through a tender process. The confirmation follows specula- tion that once the licence for The Pavilion Casino at the his- toric Army-Navy Club (ANC) in Manila expires in 2016, it will be converted into a casino and spa by a company called Oceanville Hotel and Spa Corp.
Pagcor Chairman and Chief Executive Officer Cristino Naguiat Jr. said: “The Pavilion will expire in 2016 and there will be a bidding process. We have to undergo a bidding process. We will go for what will be advantageous to the gov- ernment.”
The proposal has drawn criticism from Republican Terry Ridon of Kabataan, who said: “It is yet another instance of big money trumping national historical interest in violation of Republic Act 10066 or the National Heritage Act of 2009. Old structures like this have original components which should still be preserved. Because not all of them are unsound are unusable. And even if they can no longer be used, there are ways to preserve them and integrate them into the new development.”
PAGCOR, meanwhile, is set to fine another operator about to enter the Philippine market with Japan’s Universal Entertainment Corp facing delays to opening its US$2bn casino in Manila Bay next year. Universal’s local subsidiary Tiger Resorts Leisure and Entertainment, said last month that the first phase was likely to be ready in 2016, a year later than planned.
Mr. Naguiat said: “Based on the project implementation plan, they are supposed to finish it by March next year. The lawyers are looking into it.”
AUSTRALIA - GAMEACCOUNT’S MAJOR CLUBS DEAL GameAccount Network has announced the extension of Simulated Gaming into Australia in partnership with a con- sortium of major land-based Australian community clubs (Consortium) following dialogue with relevant Australian reg- ulators. Customary in the regulated land-based Australian casino Industry, the identity of the clubs within the Consortium remains embargoed prior to commercial launch.
It is expected that GameAccount Network and the Consortium will launch a Simulated Gaming entertainment experience in Q1 2015 subject to relevant regulatory approvals. Dermot Smurfit, CEO of GameAccount Network commented: “Following on the success of Simulated Gaming in the United States we’re delighted to bring our unique Simulated Gaming™ experience to Australia working closely with an experienced management group from six major Australian community based clubs.
“This Consortium of clubs has worked closely with its domestic regulators to ensure the Internet entertainment experience complies with State and Federal laws,” con- tunued Mr. Smurfit. “Simulated Gaming has been proven to increase visitation to US casinos and we anticipate the same dynamic in Australia. This pioneering group of clubs will ben- efit from increased visitation from existing and new patrons and hope to reverse the migration of their patrons to offshore real money Internet gaming websites.”
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SKYCITY CELEBRATE STRONG START
Auckland’s SKYCITY has recorded strong gaming revenue and healthy margins in its latest set of financial results New Zealand - Casino Operations
Substantial growth in SKYCITY’s Auckland busi- ness, led by the excellent ongoing performance of the Federal Street dining precinct and high hotel occupancy, have helped deliver a strong start to FY15 for SKYCITY Entertainment Group.
SKYCITY Chief Executive Nigel Morrison said the first quarter of the financial year has been pleas- ing for the company, and with several key projects entering exciting development phases, FY15 promises to be a busy year for the business.
“We have started the year with strong momentum, with revenues across the Group up by 6 per cent on the first quarter of FY14,’’ Mr. Morrison explained. “Our Auckland business has once again been the star of the show, with revenues up by just over 12 per cent, driven by a 41 per cent growth in International Business and strong non- gaming revenue growth of 17.6 per cent. Gaming revenue growth was 5.4 per cent. Our signature restaurants are performing strongly, with annu- alised revenues now in excess of $40m and healthy margins.’’
Auckland also experienced high occupancy rates in both the SKYCITY Hotel and Grand Hotel, above the industry average, with average daily rates also up.
The transformation of Federal Street into a world- class destination is now complete and signature
restaurants Masu, The Grill, Gusto, Bellota, Depot, Federal Deli and The Sugar Club are popular with locals and international visitors alike.
SKYCITY is working closely with Auckland Council on the Federal Street Shared Space Project and will be celebrating the formal opening of the street with a festival on Friday, November 7, Mr Morrison says.
Group-wide, International Business also grew strongly in the first quarter of the financial year, up 55 per cent on this time last year, and with record turnover of $2.2bn.
“We continue to see strong growth from Chinese players, our core target market for the VIP side of our business, which is not only great news for SKYCITY, but also for local businesses and tourism operators, contributing to local economic growth.’’
SKYCITY Adelaide has also experienced good rev- enue growth overall, up 4 per cent for the quarter, underpinned by a strong International Business performance. Domestically, Adelaide’s revenues continued to moderately contract as a result of the ongoing construction works but at a lesser rate, with September 2014 revenues now back at the levels they were at the same time last year.
Tasmanian museum wants to add a VIP casino to public offer
TASMANIA The Tasmanian Government is considering breaking a 20-year monopoly to allow a new casino licence to be issued as part of a proposal put together by the owner of Hobart’s Museum of Old and New Art (MONA).
MONA Founder David Walsh has presented plans to construct a small casino for high rollers as part of a hotel complex to be developed at the Berriedale site in northern Hobart.
Mr. Walsh has put forward his concept of a slot-free casino with just 12 gambling tables. The gov- ernment though is tied into a 20- year exclusivity deal with Federal Group who operates two casinos with the Wrest Point Hotel Casino and Country Club Tasmania. There are currently
four years left to run on that deal.
Mr Walsh said: “I would be very happy indeed to have a little high- roller, tourist-only, no-pokie casi- no to be part of the Mona pack- age.”
MONA already accounts for 150,000 hotel guests each year. The Tourism Industry Council’s Luke Martin said: “Everything MONA does is absolutely cutting edge, it’s innovative, it captures attention. Ultimately what that incorporates, whether that’s a casino or business events space, MONA is within its rights to look at the options and investment. Whether it does incorporate something like a casino, that’s obviously got a regulatory issue and they’re going to have to pur- sue that with the State Government.”
Singapore Genting Singapore, owner of Resorts World Sentosa has seen its share price drop 2.8 per cent to their lowest level in more than four years due to a weakness in Sinapore’s VIP sector. The group’s shares dropped to S$1.06, their lowest since June 2010. They have fallen by almost 30 per cent so far in 2014. It is due to report quarterly results next month, however the signs from rival operator Marina Bay Sans, owned by Las Vegas Sands, are not particularly good. It reported a drop of 34 per cent in VIP volume business S$11.6bn in the quarter ending last month with overall revenue down five per cent to US$735.5m.
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