Macau Legend Enjoys Modest Growth
Macau Legend Development saw its revenue increase by 2.5 per cent year on year to HK$1,471.5m in 2016 with gaming revenue increasing by 6.1 per cent
Macau Legend reveals results from its properties and remains positive as renovations and a new Cape Verde resort are planned for the future
MACAU CASINO OPERATIONS
Macau Legend Development saw its revenue increase by 2.5 per cent year on year to HK$1,471.5m in 2016 with gaming revenue increasing by 6.1 per cent to HK$952.4m. Savan Legend contributed reported revenue of HK$98.2m during the first four months under the ownership of the Group. Gaming revenue of mass gaming tables at Pharaoh’s Palace Casino and Babylon Casino decreased by 9.1 per cent and 4.3 per cent year-on-year respectively, mass gaming tables at recently acquired Savan Legend contributed HK$38.6m.
Gaming revenue at the company’s VIP tables increased by 22.4 per cent year-on-year to HK$217.1m. New Legend, the self-run VIP operation of the Group, added gaming revenue of HK$175.4m whilst VIP tables at Savan Legend added HK$16.8m in its four months.
Co-Chairman, Executive Director and Chief Executive Officer of Macau Legend, David Chow, said: “Despite a weaker start to 2016, the market conditions for Macau appear to have stabilised and we are seeing some recent improvements in both mass markets and VIP markets. In Macau
Japan
Te Japanese government has started work on a second piece of casino legislation called the implementation bill which will outline the detail behind what Japan’s Integrated Resort casino will look like, what they will operate, how they will be regulated, where they will be located, how many there will be and how they will be taxed. Prime Minister Shinzo Abe commented: “To realise clean casinos, we will introduce regulations at the world’s highest standards and develop a system to properly enforce them. Trough those measures, we aim to create attractive Japanese- style integrated resorts.”
Officials from various government agencies have formed a task force to work on the bill that won’t be completed until the autumn. Local governments in Hokkaido, Yokohama and Osaka have all expressed their interest in hosting a casino.
for 2016, we were focused on the completion of the Legend Palace Hotel and Casino at Macau Fisherman's Wharf . We are happy to announce that this 223 five stars hotel and casino opened on 27 February with 60 live tables and 92 slot machines. We would like to thank the Government of Macau for the additional 15 new gaming tables that were granted to Macau Legend to coincide with the opening of this property,” he said.
At the same time, the company continues to be focused on completing the disposal of Te Macau Landmark. On September 1, the Group took over the ownership and operations for the Savan Vegas Hotel and Entertainment Complex in Laos. Mr. Chow added: “We have re-branded this 472 rooms, 466 slot machines and 82 gaming tables property as Savan Resorts and expect to commence the renovation and expansion program in May. In Cape Verde, construction works for the planned hotel and casino project has commenced. Te integrated resort will be developed in two phases and the first resort hotel, casino and office building is targeted to be completed in upcoming two years.
A Japanese casino ‘cluster’ could compete with Macau
Japan
Creating a Japanese version of the Las Vegas or Cotai Strip would maximise the economic benefits of a tourist magnet that could see Japan take on gaming’s leading lights of Las Vegas, Macau and Singapore.
Global Market Advisors said that clustering three casino properties on Osaka’s Yumeshima Island, creating an ‘Osaka Strip’ tourism destination could generate an estimated US$10.9bn in gaming revenue by 2025.
Te findings were delivered in the executive summary of a white paper conducted by Global Market Advisors. In it, Steve Gallaway, Managing Partner for Global Market Advisors, said: “Developing the Osaka site, with multiple
operators on the ‘Osaka Strip,’ would create critical mass and a true tourist destination. Tis would compete with Las Vegas, Macau, and Singapore in generating nearly $11bn from that district alone,” said.
An Osaka Strip developed alongside domestic-focused properties in Tokyo, Sasebo, Sendai, Yokohama and Hokkaido would generate a market value of twice that amount.
“Japan has the potential to be one of the largest gaming markets in the world, generating up to $24.2bn at six different locations by 2030,” said Mr. Gallaway.
Global Market Advisors’ Brendan Bussmann, added: “Te Diet needs to balance that regulatory structure with the desire of an operator to build an iconic facility that is representative of a specific site to maximize gaming and non- gaming revenue.”
NORTH KOREA – Showing a spectacular sense of timing, North Korea is looking for investors to fund a casino cruise liner looking to boost maritime tourism in the Mount Kumgang tourist region, a special development zone and port.
Despite gambling being banned in North Korea, the government is looking for up to $20m to operate a casino-cruise ship sailing to Southeast Asia and Vladivostok, in eastern Russia.
Mount Kumgang's tourism website said: “We are trying to diversify international tourism at the world- renowned Mount Kumgang by using cruise ship services. The tourist passenger ships will have a variety of facilities, so 1,000 passengers can experience safe and cultural travel. Preferential business conditions will be guaranteed for the ship."
The site identifies the Royale Star cruise liner which is currently docked in the port of Kosong, close to Mount Kumgang.
NEW ZEALAND – International Game Technology has signed an agreement with the New Zealand Lotteries Commission to provide a Remote Game Server (RGS) system and Instant Win content to the New Zealand market. IGT, as legacy GTECH, has provided lottery equipment and services to Lotto NZ since the lottery's inception in 1987.
"IGT and Lotto NZ have worked together successfully for approximately 30 years, and this agreement demonstrates the customer's continued trust in our ability to deliver industry-leading solutions and content that will responsibly increase lottery sales and continue generating funds for good causes," said Declan Harkin, IGT Senior Vice President and Chief Operating Officer, International.
This new agreement, which is the result of a competitive procurement, is for an initial term of five years from the go-live date of the RGS, with an additional two-year extension at Lotto NZ's option, as well as an additional extension option upon the agreement of both parties.
Under this agreement, IGT will provide interactive Instant Win games hosted by its award-winning RGS system. Designed to operate securely while supporting engaging play experiences and third- party content, IGT RGS is optimised for a seamless player experience on both mobile and desktop.
It will enable Lotto NZ to leverage IGT's vast gaming content library, as well as to quickly and easily integrate game content from third-party developers, offering players more innovative, entertaining games through Lotto NZ's successful MyLotto interactive site.
NEWSWIRE / INTERACTIVE /
247.COM P33 ASIA & OCEANIA
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