Analysis SOUTH EAST ASIA


Resorts World, to meet the demand, is increasing its slots from 1,400 units to 1,900 units. Singapore as a destination is also proving a hotbed of interest in electronic table games with Alfastreet and Novomatic proving particularly successful and most recently Shuffle Master has installed 400 Rapid Roulette units at the Marina Bay Sands.


THE PHILIPPINES There’s been a lot of movement recently in the Philippines at Manila Bay. While we’re still 12 months away at least from PAGCOR’s own major component opening in Manila Bay, under its new administration, PAGCOR (the Philippine Amusement & Gaming Corporation) has pledged a new era of 'transparency and fair dealing', with members of the PAGCOR Board of Directors visiting the industry's key trade shows in Las Vegas and London in order to make direct contact with suppliers and trading partners.


The incoming PAGCOR Chairman Cristino L. Naguiat, Jr., was appointed by the Philippine President, Benigno S. Aquino III in July of last year and has pledged to redouble PAGCOR’s record of contributions both financially, through gaming taxation and socially, by creating and maintaining employment in key areas of the country.


Four licences have thus far been issued for Manila Bay. PAGCOR is on hold, as aforementioned, while Genting Resort


World Manila is the only property open and is, in the words of several industry experts we spoke to in Macau, 'fantastic.' The casino, three hotels plus a commercial shopping complex is working extremely well in this market. 5M Malls is also building a casino, with its focus on its core mega malls business. 5M has plans to transport players between shopping destinations and the casino, which is going to open next year (September). Also open next year is Manila Port's location, a commercial entity branching out into casinos.


Finally, Japanese giant Aruze holds the fourth licence. The company should have commenced building by this stage, however, complications have arisen in relation to the ownership of land. Foreigners in the Philippines are not allowed to own land, nor are they allowed to own more than 49 per cent of a business in the country. In order to comply with the law, Aruze has moved manufacturing to the Philippines in order to own land and build the casino. However, the Philippines' new government has yet to be convinced that Aruze has complied all the requirements and to date is sitting on the company's US$100m in Escrow.


AND BEYOND... Japan’s recovery from the massive earthquake and tsunami takes precedent and while casinos would represent an economic boost with which to redevelop affected regions, the subject is likely to be


G3 I AUGUST 2011 I PAGE 30


a political unmentionable for some time.


Cristino L. Naguiat, Jr., Chairman PAGCOR.


MGM Resorts International and Asian Coast Development ACDL have partnered to develop the MGM Grand Ho Tram – Vietnam’s first large-scale integrated resort. MGM Grand Ho Tram will be the first component of the US$4.2bn multi- site property Ho Tram Strip resort complex overlooking the South China Sea, developed by ACDL and planned to be the largest tourism complex in Vietnam. The project is expected to be several years in development, though MGM was on a recruitment drive at the G2E Asia show in June.


China has already taken its first step


on the lottery ladder and it set to follow the global trend


towards national games. Chinese


people curently have to travel abroad to gamble with money flowing to foreign


countries as a result. Sooner or later, the


Chinese mainland will legitimately set up its own casinos.


ACDL has recently entered into a subscription agreement with Pinnacle Entertainment under which Pinnacle will acquire a 26 per cent equity interest in ACDL in exchange for a US$95m investment in ACDL. In addition, Pinnacle will enter into a management agreement through 2058 for the second integrated resort of the multi-phase Ho Tram Strip destination resorts project.


South Korea is looking to expand its casino sector with new locations expected to break ground this year. South Korea has 16 foreigners-only casinos and one for locals. Analysts expect the number of visitors to casinos in South Korea to grow by 15.5 per cent this year, but the number of Chinese mainland casino visitors was expected to jump 57.5 per cent. From 2012, the Chinese mainland should be the largest source of gamblers in South Korea.


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