Inside Asian Gaming

INSIDE ASIAN GAMING | June 2011 34 earthquake. Some believe it will accelerate the idea of them bringing casino gaming—Sheldon Adelson is one. And some believe it will decelerate the process and make it less likely—Steve Wynn among them. My views are closer to those of Steve. Given the level of political consensus that would need to exist for there to be liberalised casino gaming, I believe Japan has far more weighty affairs to worry about right now. South Korea, with 16 foreigner-only casinos and one—Kangwon Land—for domestic gaming, has not indicated any driving appetite to expand domestic gaming outside of Kangwon Land. In Taiwan, we’ve seen great moves. I think they’re real moves. I think they’ll result in something one day. But if you take a close look at the draft rules, as well as the Offshore Islands Development Act enabling referendums, it appears the timing is again not in the very near future. The Philippines is a great commercial market—we’d love to be there. One of the challenges there from a regulatory perspective is the current structure whereby PAGCOR is both the regulator and an operator. So the only short- to medium- term large-scale gaming opportunity in the region is Vietnam. And we have a licence from the government of Vietnam, namely an investment certificate allowing large-scale gaming. And it’s the only one funded, under construction, and rapidly coming out of the ground as we speak. What can the market expect in terms of the hospitality offer at Ho Tram? Gamal Aziz : The hospitality offering of MGM was built many, many years ago on the concept of ‘non-traditional’ hospitality. That’s in the sense that it allows you to spend your entire time within the confines of the hotel and never be bored and never be wanting to leave. MGM is traditionally and culturally known in Las Vegas for energy, excitement, fun—MGM venues have always got a buzz about them for one reason or another—it can be a concert, a boxing match. All the amenities we have added over the years have given us a unique view and a unique interest in the hospitality business. It’s actually a testament to the strength of the brand that within the last couple of years— during the most difficult times economically, globally—we’ve been able to sign more than 18 deals around the world, starting with India and all the way to the Middle East. “We’re putting tremendous support behind Ho Tram and as far as the Hospitality division of the company is concerned, this will be our flagship when it comes to gaming.” Gamal Aziz Vietnam is a very special opportunity that we have. Lloyd and myself have been working on it for many years. Lloyd, being highly engaged with the opportunity and working to bring it to life, brings a uniqueperspective onwhat todo inHoTram. It’s about differentiating and distinguishing ourself from the rest of the market. The non-gaming product—what I saw recently with Lloyd and John on a visit—is going to be truly extraordinary. It will shine compared to any product that is in the [Vietnam] market. Add to that the excitement and energy that MGM the brand can bring to the table, from the restaurants to the pool amenities to the music— just that sense of fun that exists throughout the resort will be something that will bring in guests from all over the world to stay. MGM has positioned Ho Tram on the absolute top priority for our future. We have appointed John Shigley who has worked for our company for many, many years—to lead this opportunity for us in Vietnam. We’re putting tremendous support behind Ho Tram and as far as the Hospitality division of the company is concerned, this will be our flagship when it comes to gaming. We really are putting all of our resources behind it. Will Ho Tram become a regional destination for big sporting events? Perhaps big boxing matches such as a Manny Pacquiao fight? GA : Lloyd, John and myself have talked about making Ho Tram an entertainment destination and entertainment comes in many forms. We’re going to look at every opportunity aside from golf and all the activities associated with golf. How will the resort look and feel? John Shigley : It will be not only the most beautiful but also the MGM Grand Ho Tram Opulence—how Ho Tram Strip phase one will look inside Asian coast—Ho Tram has an attractive beachside setting