MACAU BUSINESS By Paolo A. Azevedo By Christopher Cottrell
Jeju – the new Singapore
How can Macau gaming experts help Thai gaming plans? Observers believe the new gaming assessment plan passed by Thailand’s parliament in January has serious potential for Macau expertise, from legal consulting to cyber- security to entertainment to integrated resort management.
natural evolution? Lawrence Teo – Business is the same. But building
a landmark. M. B. – The group [Lotte] has created other landmarks in different types of business. Why would this be different? L. T. – Yes, Lotte Group has already created
downtown Seoul and Lotte Super Tower. We’re trying 18 OCTOBER 2017
he current plan under study is far from legalising gambling and changing the country’s 1935 Gambling Act, perhaps two to three years away and under the administration of the new government that will be elected on May 7, 2023.
Maximizing expertise T
M 18 MARCH 2023
acau Business – From Lotte World, a major recreational complex [with the world’s largest indoor theme park, in Seoul] to an integrated resort with casino in Jeju. A different beast. A
to do the Dream Tower in Jeju. Lotte here is being just a family company; we’re a different company [Lotte Tour]. It’s not going to be [just] the tallest and the largest building in Jeju, that’s just the hardware. We say that a landmark should be the most visited destination, where tourists will go to eat, shop and maybe [visit] our observation deck. A must-visit point destination. Because of the hardware, and also the software.
M. B. – What are the main goals that you definitely
want to achieve with this Integrated Resort (IR)? L. T. – Number one EBIDTA on IR in Korea. There’s
based entertainment entrepreneur Devin Ehrig. Ehrig, who speaks fluent Mandarin and Cantonese and
“Macau has a wealth of lessons and unique experiences that can complement any gaming enterprise Thailand undertakes. Lawyers in Macau can immediately start offering their services to potential operators who can contribute to this assessment plan and consult with members of government and society,” explains Los Angeles
lived in Hong Kong for 20-years with numerous trips to Macau, continues, “Just in terms of marketing expertise and governance, Macau’s two decades of integrated resort development has all kinds of blueprints for success in dealing with mainland gamblers and the market impulses, so can immediately be hired on retainer by resorts in Thailand and globally…Sure, Thailand has bar-none the best hospitality services in the world, but gaming has an extra layer of compliance and know-your customer that
Jeju will be as big as Singapore in terms of Gross Gaming Revenue, predicts Lawrence Teo. The Chief Operations Officer and Vice President of Dream Tower, the tallest Integrated Resort under construction on the Korean destination island, explains to Macau Business why Lotte Tour decided to enter the casino business and create a landmark. All bets are on making the casino resort the crown of the tourism jewel the company has been dominating for four decades
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