Inside Asian Gaming

June 2016 inside asian gaming 21 with the other amenities rather than integrating other amenities around gaming. “The new IR is a market-driven leisure and entertainment district,” he says. “Although gambling continues to lead revenue in Asian markets, it would be a mistake to ignore consumer trends which point to the importance of diverse entertainment experiences for sustainable, healthy IRs of the future. Mr Wucherer, an architect who founded YWS in 2001, sees the evolution of IRs in terms of “the relationship between the customer and the house.” IRs should still focus on their traditional “foundational” elements of gaming, hospitality, leisure, retail and entertainment but realize that customers want to experience them in new and different ways. Retailing is one segment where IRs have been forced to adapt. Once upon a time IRs could rely on luxury retail to drive visitation from designer deprived mainland tourists. “Everyone thought they’d died and gone to heaven,” Wynn Macau Vice Chairman Allan Zeman, who made his first fortune in clothing, says. “Now China has an overabundance of shopping malls. Luxury retail is overbuilt in China.” Moreover, with online shopping prevalent, “People want more experiential shopping,” Mr Zeman, creator of Hong Kong’s Lan Kwai Fong entertainment district, says. “Millennials have different In Focus “We’re seeing a diminishing number of traditional shoppers for the top eight brands. New Age consumers are cool hunters, looking for something that sets them apart. They want something unique: first in Asia, first in Macau, first for me.” tastes, different attention spans.” Adds Galaxy’s Mr Clayton, “We’re seeing a diminishing number of traditional shoppers for the top eight brands. New Age consumers are cool hunters, looking for something that sets them apart. They want something unique: first in Asia, first in Macau, first for me.” Macau’s Studio City was part of the move to IR 3.0