Inside Asian Gaming

INSIDE ASIAN GAMING | January 2012 8 Cover Story to its peers in terms of revenue and EBITDA [earnings before interest, taxes, depreciation, and amortisation] growth. In addition to refurbishing its high-limit area, Sands China has also upgraded the areas it provides its junket partners to work within. Macau’s other operators have also been boosting their premium mass offering through expanded and improved facilities, as well as loyalty programmes encouraging members to play more in order to qualify for greater benefits. Although The Venetian Macao is clearly Macau’s biggest single mass-market draw, followed by Sands Macao, Stanley Ho’s SJM as a whole still commands the largest share of mass-market revenue, as shown in the table below. Union Gaming Research Macau tracks shares of mass-market customers by counting the number of casino shuttle bus passengers headed to each major property, with the results for the October/November 2011 period presented in the graph below. Considered as a single entity, SJM’s Grand Lisboa and ‘old’ Lisboa constitute Macau’s third largest mass-market draw—Visitors throng to experience the distinctive Chinese style of these properties created by the local ‘King of Gambling’, Stanley Ho. Attractions include a statesmanlike bust of Dr Ho and a 218-carat ‘Star of Stanley Ho’ diamond—the largest cushion-shaped internally flawless D-color diamond in the world. The two Lisboas also offer some of Macau’s top-rated dining establishments, including Robuchon au Dôme, The Eight and Don Alfonso 1890. Sands China executives join Hong Kong celebrity Carina Lau for the opening ceremony of the upgraded High Limits area at The Venetian Macao. From left to right: Andrew Billany, Senior Vice President of Paiza & Plaza Operations; David Sisk, Executive Vice President and Chief Casino Officer of Sands China Ltd; Edward Tracy, President and CEO, Sands China Ltd; Carina Lau; Kerry Andrewartha, Senior Vice President of Table Games Operations; Lance Gautreaux,Vice President of Slots Operations. Mass market / slots market share by concessionaire, YTD and 3Q11 1Q11-3Q11 3Q11 SJM Holdings 34% 32% Sands China 26% 25% Melco Crown 12% 12% Wynn Macau 12% 11% Galaxy Entertainment Group 6% 10% MGM China 10% 9% Source: Union Gaming Research Macau, company data Mass market customer share by property (October/November 2011) 25.0% 20.0% 15.0% 10.0% 5.0% 0.0% Sands Venetian MGM Macau Wynn Macau City of Dreams Star World Galaxy Macau Galaxy Others Liboa/ Grand Lisboa Oceanus SJM Others 13.9% 20.3% 5.6% 6.0% 4.0% 6.8% 10.5% 2.1% 16.1% 1.9% 12.7% Source: Union Gaming Research Macau Combined mass attraction—Grand Lisboa (left) and Lisboa (right)