Asia in need of Vegas 5 times over: mogul
Asia has room for five gambling centers the size of Las Vegas without being saturated because of the way the market is growing.
Elizabeth Law in Macau
Thursday, June 09, 2011
thestandard
Asia has room for five gambling centers the size of Las Vegas without being saturated because of the way the market is growing.
That's the view of gaming mogul Sheldon Adelson, who believes Macau has little to fear from new casinos opening up throughout Asia.
"The Asian gambling and entertainment market is not just growing, it's exploding," said Adelson, who added that the industry is unique because it is supply driven.
"You can create a market anywhere you want. There is nothing different between people in Europe and Asia. Grown-ups just want a place to spend money and be entertained."
He said Macau operates "a gaming and entertainment industry," where convention and exhibition facilities play their part.
"MICE (Meetings, incentives, conventions and exhibitions) are important because they are what fill the rooms on weekdays. We cannot simply depend on day-trip tourists from Guangdong."
Adelson, chairman and chief executive of the Las Vegas Sands Corporation, parent company of the Venetian Macau, has often been credited for bringing life to the Cotai Strip.
He was speaking at the Global Gaming Expo Asia in Macau, where he was presented with a "visionary award." Previous recipients include casino king Stanley Ho Hung-sun.
Using Marina Bay Sands in Singapore as an example, Adelson said integrated resorts are the way forward because they offer something for everyone.
"I see an integrated resort as a sort of adult Disneyland, where adults go to be entertained and to have fun."
But some individuals try to take advantage of the system and cheat in casinos, especially at the most popular game in Macau: baccarat.
According to US casino game protection expert Sal Piacente, baccarat is especially popular with cheats because there are few factors that can affect the outcome of a rigged game. Most scammers collude with a casino dealer.
While professional scammers are harder to detect, Piacente said most amateur cheats can be quickly detected.
