Inside Asian Gaming

inside asian gaming JUly 2015 28 Family Ties Before its success in Vietnam and $360 million acquisition of Star Vegas in Poipet on Cambodia’s border with Thailand, Donaco International drew notice for its ties to Genting Group. Donaco Managing Director and CEO Joey Lim is the eldest grandson sharing the family name of legendary Genting Group founder Lim Goh Tong, and they co-founded Donaco in 2002. Despite those storied roots, Donaco says today there are no financial or operational ties between this David and Goliath of Asian gaming, though the relationship is cordial and cooperative. Donaco began in Singapore as a mobile technology provider— Joey Lim holds a degree in computer science—but the real prize was Genting founder’s grandson runs Donaco Joey Lim Cover Story of Koreans in Hanoi with all the Korean companies that have invested there,” Mr Reichel says. “We have a weekend program for $5,000 players” that includes transportation and accommodation. Expatriates in and around Hanoi are the lifeblood of Phoenix International Club in Bac Ninh, the closest casino to the capital, just 45 minutes away. Located on a major China trade route, Bac Ninh itself has more than 250 foreign investment projects, with thousands of foreign managers. Phoenix International Club is a joint venture of Hong Kong- based regional gaming operator Silver Heritage Group and Phoenix International Travel Development, a Vietnamese company. The enterprise has begun migrating from its original property with six tables, 53 EGM positions and 38 rooms to a new hilltop resort three kilometers away with 30 tables, 100 EGMs and 120 five-star rooms Crowne International Club in Danang relies on Macau junket operators for players. Danang’s large international airport, just seven kilometers from the casino, has four flights daily to/from Macau, and junket promoters organize additional charters from mainland China. including junkets from Singapore and Malaysia that usually take players to Macau. The new junkets have minimum check in and roll requirements for six-month periods, though Donaco wouldn’t disclose the amount. Junket commissions are normally 1.5% but promoters meeting their targets receive 1.6%. Donaco is considering entering into revenue sharing deals with junkets but hasn’t yet. CAPITAL THINKING Vietnam’s longest modern highway opened in September linking the Lao Cai border to Hanoi, cutting travel time to three hours. That’s helping Aristo on two fronts. VIPs from Chinese cities outside Yunnan, such as Shanghai and Shenzhen, are visiting Aristo via Hanoi airport. Aristo has also opened a marketing office in the capital city’s Koreatown area, targeting expatriates. “There are tens of thousands