ASIA & OCEANIA
Studio City Helps Melco Crown to Grow Te inclusion of Studio City as well as an increase in City of Dreams Manila
helped Melco Crown deliver revenue for the second quarter of US$1,070.4m, representing an increase of approximately 17 per cent from last year’s figures
Studio City and City of Dreams Manila help to bolster Melco Crown Entertainment’s profits as elsewhere Macau continues downwards slide
CHINA CASINO OPERATIONS
MACAU– Sociedade de Jogos de Macau, the group that once held a monopoly over casinos in Macau, delivered worse than expected second quarter results with gaming revenue down by 20.7 per cent, Adjusted EBITDA down 27.8 per cent and profit attributable to owners down 38.7 per cent.
Dr. Ambrose So, Chief Executive Officer of SJM Holdings, said: “Though challenging conditions persisted in the first half of 2016, SJM maintains its confidence in and commitment to the future of Macau. We are continuing to make good progress on construction of our Grand Lisboa Palace integrated resort, and around the end of the year we expect to complete the renovation of the Jai Alai complex as well as important renovations of the lobby and hotel rooms at Grand Lisboa.
Mass market table gaming revenue of the group decreased by 11.5 per cent and VIP gaming revenue showed a decrease of 28.5 per cent during the first half of 2016, compared with the year-earlier period. During the same period, slot machine operations revenue decreased by 8.3 per cent compared with the year earlier period.
Sociedade de Jogos de Macau had a 20 per cent share of Macau’s gaming revenue, including 23.1 per cent of mass market table gaming revenue and 18.4 per cent of VIP gaming revenue.
The Group’s flagship Casino Grand Lisboa decreased revenue, Adjusted Property EBITDA and attributable profit by 25.3 per cent, 30.8 per cent and 35.2 per cent, respectively.
SINGAPORE– Indonesian police have foiled plans to launch a terror attack on Las Vegas Sands’ Marina Bay resort in Singapore.
Indonesian National Police spokesperson Boy Rafli has confirmed that six suspects have been arrested after planning a rocket attack on Marina Bay Sands. He said that local terror group Katibah Gigih Rahmat were behind the plans, orchestrated by Bahrun Naim, an Indonesian now believed to be in Syria. National Police Chief Tito Karnavian said: "The six people led by GRD had planned to launch attacks. They were in direct contact with Bahrun Naim in Syria and he had ordered them to attack Singapore and Batam."
Singapore's home affairs minister, K. Shanmugam added: “This shows how our enemies are thinking of different ways of attacking us. Terrorists will seek to come in through our checkpoints; they will also try to launch attacks from just outside. And this is in addition to lone wolf attacks from radicalized individuals/groups. We have to be extra vigilant."
P32 NEWSWIRE / INTERACTIVE /
247.COM
An increase in Melco Crown’s net revenue has been primarily attributable to the net revenue generated by Studio City, which started operations in October 2015, and the increase in casino revenues at City of Dreams Manila, partially offset by lower casino revenues at City of Dreams and Altira Macau.
Lawrence Ho, Chairman and Chief Executive Officer of Melco Crown Entertainment, said “We delivered a 20 per cent year-over-year increase in Adjusted property EBITDA during the second quarter of 2016 as a result of our commitment to controlling costs and increased exposure to the higher margin mass market segment in Macau, together with a strong performance at our integrated resort in Manila.”
“Studio City, our second integrated resort in Cotai, Macau, which opened in late 2015, is still in its ramp-up phrase and positioned for further increased revenues and profitability in the future as the property builds a strong customer database through its unique entertainment offerings which attract an increasingly Cotai- based mass market customer.
Mohegan Sun secures land for Incheon casino project
South Korea
A consortium led by US casino operator Mohegan Sun has signed a land lease agreement with Incheon International Airport Corporation to build an integrated resort on Yeongjong Island by 2020.
Inspire Integrated Resort, which includes Mohegan Sun and South Korean chemical maker KCC Group, signed the agreement to use land spanning 2.67 square meters on the gateway island west of Seoul. Te deal comes after Inspire won a bid to build an integrated resort with a 5.6tn won (US$5bn) proposal.
“With the agreement, we have acquired the space to build the integrated resort,” Kang Yeon- sop, the chief of Inspire
“Macau continues to face challenges in gaming demand. However, we believe that revenue trends, particularly in the mass market segments, will improve as Macau further evolves in to a multi-faceted, mass market- focused destination, deserving the accolade of being the most exciting gaming and entertainment destination in Asia.
“Our Company is well positioned to cater to these evolving trends in Macau, with a unique array of non-gaming, mass market-focused amenities across multiple properties that provide an ideal platform to deliver a compelling lodging, entertainment and retail offering to our customers.
“In Manila, City of Dreams delivered impressive improvements in all gaming segments which, together with a strong focus on managing reinvestment costs and other operating expenses, resulted in an increase in Adjusted property EBITDA of approximately 190 per cent on a year-over-year basis. CoD Manila provides us with a strong and diversified earnings stream to complement our operations in Macau.”
Integrated Resort, said during a signing ceremony. “We aim to present Northeast Asia’s largest resort, expecting about 10m tourists annually.”
Te consortium will invest 1.8tn won for the first stage project to build the nation’s largest foreigner-only casino, a hotel, a convention center, and a theme park as well as a wellness center and other amenities by 2020.
Bobby Soper, the president of the Mohegan Tribal Gaming Authority, said the new project will help Incheon Airport’s “airport city concept” by drawing tourists from around the world with the world-class resort.
Tere are 17 casinos in Korea with one open to locals. With the new license, the number of casinos in the country will increase to 20 by 2020. Incheon airport handles more than 45m visitors annually.
Australia
Interblock continues to act on its aggressive global sales strategy and has named leading New South Wales gaming sales expert Craig Butler as State Sales Manager – NSW. Mr. Butler will be based at Interblock’s Sydney office. Interblock Senior Vice President for Asia Pacific Cameron Louis said: “I am excited to have someone of Craig’s caliber joining our very successful team in Asia Pacific. With more than twenty years of experience working with successful clubs as an operator and also well-credentialed results as a senior business development professional, Craig’s skill sets are perfectly adapted to help our company achieve the level of success that we have planned for the years to come. I have supreme confidence that Craig will be able to work with our customers to ensure that the products that we supply to them will provide the results that they desire.”
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