Inside Asian Gaming

IAG JAPAN FEB 2020 26 Marina Bay Sands President and CEO George Tanasijevich マリーナベイ・サンズ社長兼CEOジョージ・タナシェビッチ氏 COVER STORY IDLING ENGINE Gaming remains the economic engine of every IR in Asia. For MBS, gaming represents 70% of revenue and, even with nightly hotel rates averaging US$475 at 98% occupancy and a retail mall cash cow, gaming accounts for a slightly larger proportion of profits. Genting Singapore gets about 65% of its revenue from gaming but doesn’t break down profits. Singapore initially floated enforcing a 50-50 gaming/non-gaming revenue mix. On the Las Vegas Strip about two-thirds of revenue comes from non- gaming sources, but Lee doubts any Asian destination can match that mix. “It’s really a question of market saturation,” Lee, whose Casino Urbanism project investigates the impact of gaming in Singapore, Manila and Macau, explains. Las Vegas has reached its levels of non- gaming spending because gaming has expanded across the US to saturation levels, he believes. “Until Asia has similar saturation, you’ll never get 50-50.” Despite the IRs’ dependence on gaming revenue, Singaporeauthoritiesremaincommittedtosuppressing it. Singapore’s decision to legalize casinos remains among the most controversial the government has ever taken, multiple sources affirm. Opposition centers on fears that casinos will increase problem gambling and gambling addiction. Along with creating a new term, integrated resort, to describe the casino complex with its vast array of non-gaming facilities, Singapore practices creative ways to discourage gaming. In addition to creating the much-needed National Council on Problem Gambling – before IRs, Singapore gaming options included horse racing, sports betting, lotteries and even slot machines in so-called “jackpot rooms” within private clubs – authorities banned casino advertising and many forms of marketing, though IRs