25,000 visit Marina Bay Sands casino daily

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25,000 visit Marina Bay Sands casino daily

Postby DM101 » Thu Jun 24, 2010 10:25 am

SINGAPORE : The casino at Marina Bay Sands (MBS) sees an average of 25,000 visitors every day - a third being Singaporeans.

This was revealed at the official opening of Singapore's second integrated resort (IR) on Wednesday.

Marina Bay Sands refused to disclose revenue figures, only to say it is on track to meet the projected revenue of over US$1 billion by 2012. 60-70 per cent of this is expected from the casino floors.

Marina Bay Sands' CEO Thomas Arasi said this month alone, some 500,000 people passed through its casino.

In contrast, Resorts World Sentosa, which opened its casino during the Lunar New Year period in February, said it saw some 60,000 punters at its casino within three days of opening.

In a statement to MediaCorp, Resorts World Sentosa said: "As an integrated resort, Resorts World Sentosa focuses on increasing visitor numbers to the entire resort, and not only the casino. The resort is on track to hitting its target of 13 million visitors a year. This breaks down to over 1 million visitors a month."

Marina Bay Sands was quick to add that unlike other entities in Las Vegas, its casino is not a hub but a destination in itself.

Sheldon Adelson, Chairman & CEO of Las Vegas Sands said: "I know that MICE (Meetings, Incentives, Conventions & Exhibitions) facilities don't make money; showrooms don't make money. If you spend US$150-250million, building a theatre and producing a show, you can't get a return on it, so we need the casino to subsidise those returns.

"These amenities feed on one another and I don't believe that any casino should be more than 10 per cent of the total amount of built space."

The casino at Marina Bay Sands makes up just under 2 per cent of its entire floor area.

Marina Bay Sands has given the assurance that proper safeguards are in place to prevent problem gambling.

It was also revealed that a few minors slipped through security to enter the gaming floors in the early days of the casino opening.

"Basically those problems were training problems with the security guards... We think we've gotten over that. The safeguards, in terms of addictive gambling, we have that in our rules and regulations to try and identify those individuals in that category," said Michael Levin, President and Chief Operating Officer of Las Vegas Sands.

Separately, Adelson said he is ready to work out a settlement with the International Pacific Bar Association over an ongoing lawsuit.

The association held the first major conference at the resort.

But the event was besieged with problems, which included a power outage at one of the meetings.

"Our policy is to make love, not war. In the 40-year history of my being in the trade show and convention business, I have only sued two people. We don't want this to be perpetuated, we want to resolve the matter amicably if we can and finish it," said Adelson.

About 65 per cent of the integrated resort is now open. That includes all the 2,500 hotel rooms, convention facilities and about one-third of the retail shores.

The museum and theatre is expected to open by the end of the year and the flagship show "The Lion King" is expected to start its run by the end of the first quarter of 2011.

Source: ChannelNews Asia
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Re: 25,000 visit Marina Bay Sands casino daily

Postby DM101 » Thu Jun 24, 2010 10:26 am

SINGAPORE : Marina Bay Sands said it is on track to beat analysts forecast to achieve US$330 million in cash flow this year.

Sheldon Adelson, chairman & CEO of Las Vegas Sands, added that projections for visitor numbers and revenues at the integrated resort have also been met.

The US$5.5 billion Marina Bay Sands has already attracted scores of hotel guests, convention delegates and punters.

But its parent company Las Vegas Sands expects even more visitors when the integrated resort is fully open.

Other attractions that will be added include theatres, a museum and The Shoppes at Marina Bay Sands, which will feature 300 retail outlets.

"We'll have between 125,000 and 150,000 people a day. Now, those people came for shopping and a lot of those people will see the MICE (Meetings, Incentives, Conventions & Exhibitions) building and say 'my company needs to have a conference or association or trade show.' So there will be some benefit from the shopping traffic for the MICE space," said Adelson.

Marina Bay Sands said it expects to attract 18 million visitors a year when it's fully operational.

So far, the business is running ahead of projections.

Analysts have projected the integrated resort to rake in US$330 million in cash flow this year.

Michael Levin, President and Chief Operating Officer of Las Vegas Sands said: "We were running ahead of that in May. In June so far, we are running basically around that number but because of the volumes we have, that number goes up and down on a daily basis so its hard to predict.

"Our expectation is that we will exceed that number between now and the end of the year."

The resort operator is also bullish on gaming demand in Asia and it hopes to expand the visitor base of its Singapore property.

"The ones that are most obvious for us to go into short term at the beginning are of course Singapore, Malaysia and Indonesia. But the attainable concentric rings for us, as the months pass and a year or two pass, are going to be going further out - Thailand, Vietnam, India, parts of China, Northern Asia," said Thomas Arasi, President & CEO of Marina Bay Sands.

Las Vegas Sands is also eyeing opportunities to set up an integrated resort in Seoul or Incheon in South Korea.

Adelson said he will head to South Korea this weekend to discuss the matter with government officials.

On top of that, it said the Las Vegas style casino strips can be replicated in Greece, Spain and Italy
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