MGM China has said its renewed focus will help to boost its share of VIP play having seen VIP revenue fall by 1.9 per cent in the first half of 2017.
CHINA CASINO OPERATIONS MGM Cotai to boost VIP as well as Mass
Despite promoting its soon-to-open MGM Cotai as a mass gaming property, MGM China has said it will also help to boost its share of VIP play having seen VIP revenue fall by 1.9 per cent in the first half of 2017.
Te Las Vegas-based operator said the property will open by the end of the year. “We expect to improve our competitiveness in the Macau market following the completion and opening of our new MGM Cotai property,” it said. “We will pursue additional VIP business opportunities. We continue to review our business relationship with each of our gaming promoters and identify potential gaming promoters to grow our VIP business.”
MGM Chairman Jim Murren said: “2016 has been a year of stabilisation and development both for the Macau marketplace and for our Company. Macau gross gaming revenue finished with a slight decline of 3.3 per cent from last year and reached HK$216.7bn. Importantly, the
market showed improvement as the year went on with gross gaming revenue in the second half up six per cent year over-year. Mass gaming revenue was also a bright spot with estimated growth of seven per cent in 2016. Te solid recovery in mass market allows us better footing as we prepare for the opening of MGM Cotai in 2017. MGM Resorts International has shown its conviction in the long term opportunity of MGM China by investing in an incremental 4.95 per cent of the company, taking its ownership to approximately 56 per cent. We continue to believe in the future of the Macau marketplace and are confident in ongoing success of MGM China as we expand into Cotai in 2017.
"When completed, our new resort will provide a truly unique MGM experience with 1,400 hotel rooms, up to 500 gaming tables and 1,500 slot machines. I am certain the opening of MGM Cotai will bring never been seen before experiences to the visitors of Macau.”
Cambodia
Philippines Resorts World Manila brings forward Phase 3
Resorts World Manila is speeding up the completion of its phase 3 opening following the deadly arson attack in June which killed 38 people.
Te operator will not be reopening the second floor of the casino where the attack took place closed and instead is converting it into a new part of its shopping mall.
Te Phase 3 expansion will see three new casino floors with 650 tables and 4,000 slot machines open. Kingson Sian, President of Alliance Global Incorporated, which owns Travellers International, which owns Resort World Manila, said: “We lost the 2nd floor. We are not operating it anymore and converting that into part of the mall. Of course there was a revenue decline because of that so that’s why we’re rushing the Phase 3 expansion. We’re targeting opening the 3rd phase of RWM in the 1st quarter of 2018 but there might be a chance that we will have a soft opening by late December of this year and that should augment at least what we’ve lost in the 2nd floor.”
Travellers reported a loss of US$6m in the second quarter of the year. However the venue is recovering with an average of 26,000 people a day from its previous average of 28,000.
Mr. Sian added: “All the hotels in the RWM complex have recovered their occupancy rates with the Remington Hotel and Maxims averaging around 95 per cent occupancy while the Marriott West Wing averages around the high 80s.”
Donaco International has generated net profit after tax (NPAT) of A$54.6m for its full year to June 30 2017, exactly the same amount as in 2016, with strong second half recovery at Star Vegas, one of its casino operations in Poipet Cambodia. Donaco CEO Mr Joey Lim said: “FY17 was a busy year for Donaco, as we laid the foundations for the transition to full management control of Star Vegas, and launched a number of international marketing initiatives. In addition to the deals announced with Vivo Tower, Poker King Club and the Asian Poker Tour, and building on our association with Manchester United, we have already engaged a number of new Tai junket operators after assuming management control of Star Vegas on 1 July 2017.”
Overall, for the full 12 month period, the EBITDA at Star Vegas declined by 6.3 per cent in local currency terms to THB 2,107.9m, due to weaker consumer sentiment and economic conditions in Tailand, following the passing of the late King.
NEPAL – Silver Heritage Group Limited announce that Tiger Palace Resort Bhairahawa in Nepal has welcomed its first paying guest with the hotel now open with the casino opening to follow. Silver Heritage stated: “The company is pleased to confirm that the development of Tiger Palace continues ahead of schedule and within the revised budgeted cost of US$51.8m, and the first paying hotel guests were booked in for September 20, 2017. Co-founders Mike Bolsover and Tim Shepherd, together with local partners, members of the development, operations, and pre-opening teams, and contractors were officially the first guests of the hotel on 11 September 2017, as part of the final defect rectification, testing, and pre- opening phase.
"Project Director Adam Titus and his project managers, quantity surveyor and accounts team, together with Executive General Manager of Tiger Palace Resort Paul Simmons and his senior operations management team moved into the property on 17 September 2017," it added. "The final works to enable a soft opening of the hospitality including spa, gym, and swimming pool are being completed over the forthcoming days. The casino remains on schedule to open by 30 November 2017 and the casino operations team have begun their training programme onsite at Tiger Palace.”
The marketing team has begun a social media campaign via each of Facebook (Tiger Palace Resort), Instagram (#tigerpalace1), and Twitter (@tigerpalace1). The hotel bookings system has already been installed at the property and is currently connected to major travel sites .
JAPAN –Wynn Resorts has targeted three Japanese cities: Tokyo, Osaka and Yokohama where it wants to build an integrated casino resort. Speaking to Nikkei Asian Review Wynn Chairman and CEO Steve Wynn, said: “To do what we do, we have to make very big investments. All of these factors together mean that the only place we can go with our program is to great cities with a great culture. In order to recruit staff, train staff, have access to supplies that are associated with resorts of the highest quality, you must be in a city, in a country that can support such a place. Tokyo, Osaka, Yokohama are such places.”
Mr Wynn also warned the government of the problems caused by restrictive regulation. “Rules and regulations make the difference between success and failure,” he explained. “The government is always a partner in this business. In designing the regulations and the law, the government can make it possible for great success in the building or they can make it difficult
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