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GENTING TO PROVE WORTH IN KOREA
Genting Hong Kong is to invest US$117.2m in a joint venture with Landing International Development South Korea - New projects
Genting Hong Kong is to invest US$117.2m in a 50/50 joint venture with Chinese property devel- oper Landing International Development to oper- ate a gaming floor in the Hyatt Regency Hotel on South Korea’s Jeju Island. The move to rebrand an existing casino will see the Genting brand enter Jeju earlier than expected following delays to its $2.2bn Resorts World Jeju, a project where it is also teaming up with Landing.
MACAU – SECOND MGS SUCCESS WITH CAVEATS The organisers of the 2nd edition of the Macao Gaming Show, (MGS) which attracted an international audience of C- Level gaming professionals to the Venetian Macao on November 18 to 20, have declared the event a major suc- cess with all Key Performance Indicators (KPI) utilised by the organisers showing a positive year-on-year trend.
The attendance figure jumped from 8,634 in 2013 to 11,987, an increase of 39 per cent, the number of exhibiting compa- nies rose 30 per cent to 146, and the number of exhibiting countries represented at MGS jumped from 11 to 20.
MGS opened with an address by Jay Chun, Chairman of Macau Gaming Equipment Manufacturers Association (MGEMA), the organiser of the show. Mr. Chun believes that the success of MGS has sent out a clear message to the international gaming community. He stated: “Gaming pro- fessionals from throughout the world as well as from the domestic industry here in Macao took the opportunity to visit our exhibitors, to network with industry colleagues, and to lis- ten to the key note speakers we assembled as part of the co- located Macao Gaming Summit which debated key topics impacting gaming in Asia. The show floor went beyond just gaming. We have a broader exhibitor base showcasing top gaming and non-gaming products and services, even luxury cars, including one worth HKD30m.”
“Our international guests who came to Macao have wit- nessed the tremendously exciting projects that are taking place here. They saw at first hand the economic development of the city which has been made possible through the sup- port of the government. I am delighted that MGS has been able to play a part in assisting international gaming delegates to understand the dynamics of the city and the uniquely pro- gressive vision of our government.”
He continued: “Our survey showed that over 96 per cent of attendees are likely to return to MGS in 2015 and that 94 per cent would recommend MGS to work colleagues or industry peers. Based on these findings and other show statistics, it is clear that MGS has built on the momentum generated fol- lowing its launch in 2013 when many similar events struggle in their second year. We are now busy preparing for year three and putting an ambitious but deliverable strategy in place to take Asia’s No.1 gaming exhibition to the next level.”
While the organisers were jubilant, some of the exhibitors have expressed their concerns about the event, which occu- pied a very small hall at the Venetian and anecdotally didn’t provide the volume of visitors or geographic reach of the G2E Asia event held in May last year. Despite this, local govern- ment support is likely to win the day in Macau, with the MGS event sure to grow in strength in the coming years.
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The casino in the Hyatt Regency is one of eight gaming licenses in Jeju under the Tourism Promotion Act. It is currently being refurbished with an opening date of January 2015 earmarked for its 30 gaming tables and 16 slot machines. The joint venture will operate the Jeju Casino under the Genting brand.
Genting is keen to cement a move into Jeju fol- lowing doubts over the future of its much bigger Resorts World Jeju project. In February, Genting Singapore said it was partnering with Landing International Development, marking it first move into South Korea with Resorts World Jeju. The resort is to feature roller coasters, hotels with cas- tle-like facades and replicas of monuments like the Taj Mahal and the Pyramids.
However the Governor of Jeju, Won Hee-ryong, has heaped doubt on the timing of the project say- ing the island must be ‘vigilant about protecting our citizens from unscrupulous operators.’ He wants to set up a supervisory body for casinos which could take up to a year.
Genting is keen to prove its worth in Jeju by investing into a much smaller, existing property.
Landing Chairman Yang Zhihui is confident about the prospects for Jeju, as it has a visa free policy for more than 180 countries including China and Japan.
“The transaction will lead to the introduction of the first world-class casino brand to Jeju, marking a key milestone in the tourism industry,” he said.
“Leveraging Genting group’s international expert- ise in world-class resort operation, the joint ven- ture will be able to tap on a reliable and reputable platform for the development of Jeju’s tourism industry. We are always excited about the enor- mous potential of Korea gaming market. We are particularly bullish on the development of Jeju, the largest island of Korea. Our cooperation with Genting HK will introduce to Jeju an international world-class experience and expertise in operating and managing a world-class mega gaming and integrated resort. It will be able to greatly enhance the operational efficiency and performance of the Jeju Casino and lay solid foundations for the future development of our businesses in Korea, including our jointly-developed Myth-History Park project, and turn Jeju into a paradise of North Pacific,” he added.
Grand Dragon Resorts launch with Ezugi’s live casino studio
CAMBODIA Ezugi has launched its live casino studio with one of Cambodia’s largest groups, the Dai Long Company, owners and operators of the Grand Dragon Resorts and Casino.
Grand Dragon Resorts is one of the leading gaming and entertainment companies in Cambodia with their casino located in Chreythom, Kandal Province. The agreement sees Ezugi utilising its casino streaming technology to broadcast live and direct from the gaming floor, which shall include baccarat tables and VIP tables along with proxy/telebetting.
Kfir Kugler, CEO of Ezugi said: “Live casino streaming is increas- ingly popular with players as
those off-site players can see, hear, and interact with actual tables and dealers in a live and interactive environment. We are the only provider with live dealer studios across three continents in Europe, South America and now a live gaming floor broadcast expe- rience from Asia. We look forward to our partnership with Grand Dragon Resorts in delivering the highest standards for the live gam- ing experience as possible.”
Darren Heng, CEO of Dai Long Company, owners and operators of Grand Dragon Resorts com- mented: “This fits extremely well with Grand Dragon Resort’s brand strategy, to offer a superb live casino gaming experience and I look forward to growing this excit- ing new partnership.”
Sri Lanka James Packer's Crown group faces a new set of hurdles in the quest to open a $US400m casino in Sri Lanka after threats by the country’s president that new gaming levies will be imposed should he win the upcoming January elections. Sri Lankan President, Mahinda Rajapaksa, who is set to seek an unprecedented third six-year term, announced new funding measures in his latest budget. This includes a $100 entrance fee and a 10 per cent gaming levy on three proposed casino resorts, including one venture that includes Mr Packer's Crown Ltd. Crown confirmed that it is still in discussions with the Sri Lankan government.
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