Inside Asian Gaming

INSIDE ASIAN GAMING | 46 No. And the other thing is to look at the number of visitors per day per table. Back in 2002 there were more than 90 visitors per day per table. Now it is only 20-something. So they are not really that crowded. Which means that capacity can continue to be utilized. So the capacity should be able to carry Macau until the next wave of Cotai properties start coming online from mid-2015? I think so. How will Cotai shape up as the new properties start openings there? Will there be an increasing dichotomy between players on Cotai and on the peninsula? I would say Cotai players would be relatively more tourist-like, more family-oriented. And on the peninsula there could be some high-end as well as more hard-core gamblers. The hard- core gamblers still prefer the peninsula relatively. The atmosphere there is better for them, and the casinos are more densely located—it is convenient to travel across casinos. For a hard-core gambler, the most important thing is whether they win or not as opposed to whether the casino is nice. When these gamblers are losing at one casino they want to move over to another one. On Cotai, the casinos lack connectivity, whereas on the peninsula they are closely connected, so that’s why I think hard-core gamblers still like to play on the peninsula. When will Cotai achieve critical mass? Probably 2017, after all the other operators have gradually opened there. Then you’ll have more iconic products there to attract customers. Right now, people are still focused on the inside of the casinos there and not the outside. You only have Venetian, Sands Cotai Central and City of Dreams and to a certain extent Galaxy on the other side. But if you go to Vegas, the beauty is also on the outside. You walk along the Strip taking pictures, you see all these different buildings and designs. You need this factor as well to attract customers. You will need a few more properties over there which carry different designs to complete the landscape. “Back in 2002 there were more than 90 visitors per day per table. Now it is only 20-something. So they are not really that crowded. Which means that capacity can continue to be utilized.” Upcoming addition to the Cotai landscape—rendering of MGM China Holdings’ planned Cotai resort INSIGHTS