Louis XIII Holdings Limited is renaming its Macau hotel Te 13 and has released the first images of the interiors
MACAU CASINO OPERATIONS Louis XIII Holdings rebrands to ‘The 13’
Louis XIII Holdings’ hotel was first announced in 2013 and will arguably be the most luxurious hotel ever built. It is expected to open in late summer 2016 at a cost of over US$7m per room. It is not yet known whether the hotel will have a casino as originally planned.
Stephen Hung, Co-Chairman, said: “As the business and the brand have developed, we felt that the name ‘Te 13’ most accurately reflected our Macau hotel’s combination of Baroque inspiration and contemporary accents. Our brand represents a unique vision of a global luxury lifestyle based on strong bespoke traditions while embracing modern elements that enhance these traditions. 13 is my lucky number and the new name along with the new logo fit perfectly with my vision. Tere is a hint of tradition while also suggesting a chic and fun edginess.”
Te company also announced its intention to change its corporate name to Te 13 Holdings Limited subject to approval by its shareholders and other relevant authorities. Te first images of the interior of its breath-taking Macau hotel, targeted to open in late summer of 2016, have now been released. Of the all-villa hotel’s 200
Cambodia
Junket operator Jimei International Entertainment is to develop an integrated- entertainment complex in Cambodia with the country’s resort developer Yeejia Tourism Development Company. The junket promoter reached a framework agreement with Yeejia on March 17 to establish a joint venture for the development in the Southeast Asian country. The integrated project would include property, hotel, golf course, theme park and other entertainment and tourism business. Jimei, which will be responsible for formulating the development project plan, and arranging finance, currently owns interests in the junket business in NagaWorld casino resort owned by Cambodian gaming operator NagaCorp Ltd. in the country, which includes seven gaming tables at the casino.
rooms (villas are large suites in Macau parlance), most will be classed as Villa du Comte with a gross floor area of approximately 2,000 square feet while 31 are even larger, topping out at a monumental 30,000 square feet for the Villa de Stephen. Virtually every design detail in the hotel is bespoke and created especially for Te 13.
“Tese images offer a preview of a very special gateway to the refined and remarkable. Te 13 connects our international guests to the world’s most coveted luxury experiences and to each other. We are proud that Macau will be establishing a new world standard for ultra- luxury hotels through its native brand, Te 13,” said Mr. Hung.
In September 2014, Mr. Hung purchased the largest Rolls-Royce Phantom fleet in the world, placing an order for 30 Bespoke Extended Wheel Base Phantoms for his Louis XIII hotel in Macau. Tis transaction represented the world’s single largest order of Rolls Royces ever. Two of the fleet will be the most expensive Rolls-Royce Phantoms ever commissioned. Rolls-Royce Motor Cars has also helped to design the parking and driveways to house the fleet.
CAMBODIA – Despite a disappointing fourth quarter, Entertainment Gaming Asia reported revenue for the year of $31.5m, an increase of 41 per cent compared to $22.4m for the 2014 fiscal year due to increases in both the gaming operations and gaming products business divisions. The increases were due to improvements in the Cambodia operations partially offset by declines in the Philippines operations.
Gaming operations revenue was $18.1m for the 2015 fiscal year, an increase of 11 per cent compared to $16.4 million in the 2014 fiscal year. Average consolidated daily net win per unit was $122 for the 2015 fiscal year, an increase of 16 per cent compared to $105 in the 2014 fiscal year.
The company’s fourth quarter of 2015 had slowed though with consolidated revenue of $7.3m, a decrease of 12 per cent compared to $8.3m in the fourth quarter of 2014 due to a decrease in gaming product sales partially offset by an increase in gaming operations revenue.
China
Macau’s casinos showing first signs of recovery Chinese New Year helped Macau’s casinos report their best monthly gambling revenue performance since October with the smallest drop in growth in 20 months. GGR fell by just 0.1 per cent to US$2.4bn, marking the 21st monthly decline in succession, but falling well short of analysts’ predictions of a fall of between two to 10 per cent.
Te figures were boosted by higher numbers of tourist over Chinese New Year. Tourism figures from the mainland have been on the rise for the first two months of the year up 2.6 per cent in January and 4.5 per cent in February. David Bain, an Analyst at Sterne Agee, said: “Arrival increases bode well for Macau’s longer-term bull thesis which includes an unparalleled geographic gaming location, small mainland penetration and upcoming multi-staged infrastructure improvements.”
Union Gaming Group LLC analyst Grant Govertsen, added: “Te fact that the market almost grew in February despite continued VIP woes leads us to believe mass market increased nicely year-on-year in February, which is what investors likely need to see more of.”
He predicts that Macau’s casino revenues will return to growth in July following a 13 per cent and six per cent dip in March and April.
Clarence Chung, Chairman and Chief Executive Officer of Entertainment Gaming Asia, said: “We are pleased to report a profitable 2015 fiscal year driven by strong gaming operations revenue, record gaming products performance and cost controls. We accomplished this despite incurring approximately $3m in non-cash charges associated with both impairments of certain gaming operations assets and the loss on disposal of obsolete equipment for the gaming products division in the fourth quarter. As a result of this solid performance, we have increased our cash position by nearly $13.4m in the 2015 fiscal year to $30.7m as of December 31, 2015. We are focused on utilising these resources to secure projects in new and existing markets with the goal of fuelling long- term growth for the company.”
Cambodia average daily net win per unit was $152 for the 2015 fiscal year, an increase of 24 per cent compared to $123 in the prior year primarily due to improved performance at NagaWorld and a lower machine base at Thansur Bokor. NagaWorld average daily net win per unit was $225 in the 2015 fiscal year, an increase of 19 per cent compared to $189 in the prior year mainly as a result of lower player traffic in the 2014 fiscal year primarily due to political and labour unrest in the first half of the year and NagaWorld renovations of the casino floor that impacted certain areas of slot operations in the second half of the year.
Philippines average daily net win per unit was $65 for the 2015 fiscal year, a decrease of eight per cent compared to $71 in the prior year.
NEWSWIRE / INTERACTIVE /
247.COm P27
ASIA & OCEANIA
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