{"id":11769,"date":"2013-10-10T13:24:57","date_gmt":"2013-10-10T21:24:57","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=11769"},"modified":"2021-06-28T06:34:44","modified_gmt":"2021-06-28T14:34:44","slug":"casino-explosion-in-the-far-east","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/casino-explosion-in-the-far-east\/","title":{"rendered":"Casino explosion in the Far East"},"content":{"rendered":"

\"Gaming-casino\"<\/a>Now that they’ve seen what Macao<\/strong> and Singapore<\/strong> can do with casino resorts, practically everyone else in the Pacific Rim wants in. Gaming is already big business in the Philippines<\/strong>, but Lawrence Ho<\/strong> and others like him are convinced they can rival or surpass Singapore — where Marina Bay Sands<\/strong> has pulled decisively ahead of Resorts World Sentosa<\/strong> — for the #2 spot in the region. That would require tripling the archipelago’s gambling outpu<\/a>t, but Ho is confident that megaresorts like his in-progress City of Dreams Manila<\/strong> will do the trick.<\/p>\n

They’d be looking<\/strong> at a much stiffer tax burden — potentially 35% — than they face in Singapore, but that doesn’t seem to represent much of a deterrent. It’s still less than it costs in Macao and, unlike the latter, there are no governmental concerns about slowing casino growth. Melco Crown Entertainment<\/strong> is sufficiently bullish that it’s ordered 50% more table games for City of Dreams. It also doubled its Philippine slot inventory. However, Ho warned against “sudden rule changes,” which is a polite way of saying, “Don’t raise my taxes.”<\/p>\n

Although<\/strong> the government of Taiwan<\/strong> still is toying with the crazy idea of sticking casinos way out in the Matsu Islands<\/strong>, there’s now talk of putting one in Taipei<\/strong>. That’s more like it. It would certainly be nice and close to the tourists. Now let’s see if Las Vegas Sands<\/strong> and Caesars Entertainment<\/strong>, who have kicked some Taiwanese tires in the past, get serious.<\/p>\n

They’ve already missed<\/strong> the boat on Sri Lanka<\/strong>, where casinos are riding the curl of a wave of economic revival. A makeover of Colombo<\/strong> features \"Keells<\/a>four luxury hotels, two of which will harbor casinos. One (pictured<\/em>) is planned by John Keells Holdings<\/strong>, while the other — a James Packer<\/strong> product — is forecast to double the island’s tourism singlehandedly. All India<\/strong> has to offer by way of competition are some ramshackle riverboat casinos in Goa<\/strong>. Packer looks like he’s in the right place at the right moment.<\/p>\n

Not that China<\/strong> is old hat. Quite the contrary. MGM Resorts International<\/strong>, Caesars, Starwoods Resorts<\/strong> and Sol Kerzner<\/strong> are all lavishing attention on Hainan<\/strong>, wagering that the Peking<\/strong> government will allow a second casino enclave there. (Macao is<\/em> getting pretty full, after all.) How promising is the market? It already hosts 200 hotels with another 30 on the way<\/a>. Kerzner is planning to spend $1.6 billion in Hainan. Compared to the cost of construction in Macao, Hainan is practically a bargain play.<\/p>\n","protected":false},"excerpt":{"rendered":"

Now that they’ve seen what Macao and Singapore can do with casino resorts, practically everyone else in the Pacific Rim wants in. Gaming is already big business in the Philippines, but Lawrence Ho and others like him are convinced they … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[14,120,7,22,96,94,62,93,11,12,108],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/11769"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/comments?post=11769"}],"version-history":[{"count":3,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/11769\/revisions"}],"predecessor-version":[{"id":29769,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/11769\/revisions\/29769"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=11769"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=11769"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=11769"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}