{"id":12704,"date":"2014-02-11T11:04:54","date_gmt":"2014-02-11T19:04:54","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=12704"},"modified":"2022-12-22T07:22:52","modified_gmt":"2022-12-22T15:22:52","slug":"macaos-incredible-jackpot-execs-on-the-move","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/macaos-incredible-jackpot-execs-on-the-move\/","title":{"rendered":"Macao’s incredible jackpot; Execs on the move"},"content":{"rendered":"

\"Grand-Lisboa\"<\/a>If you think the emergence of Macao as the gambling capital of the world has been amazing, you ain’t seen nothin’ yet. That’s the essence of a new report from Nomura Securities<\/strong>. It predicts that the Macao<\/strong> market has the potential to double, reaching $80 billion a year. I repeat, $80 billion a year.\u00a0Why? In part because so many Chinese have yet to visit the enclave. As pundit Shuli Ren<\/strong> writes, “in an under-penetrated market, supply drives growth. As more casinos become available in Macau, the pie will expand with a multiple effect<\/em>.” Nomura calculates that Macao has a very low penetration rate and that last year’s visitation numbers could increase twelvefold before the market reaches maturation. That’s 217 million Chinese (and others) having a fiddle in Macao’s casinos. Consider this: In Macao, there is a ratio of one gaming position to every 1,900 people. In this country, it’s one position to every 200 people.<\/p>\n

\"venetianmacao\"<\/a>Nomura likes Las Vegas Sands<\/strong> best for its “underutilised asset base.” Melco Crown Entertainment<\/strong> and relatively undervalued (11 times cash flow) Sociedade de Jogos de Macau<\/strong> is identified as the “dark horse.” Basically, the greater the exposure to mass market play, the better the value.\u00a0The good news doesn’t stop there. J.P. Morgan<\/strong> analyst Joseph Greff<\/strong> is projecting a 24% increase in February revenues so far. Sands China<\/strong> has elbowed its way to the forefront, capturing the most market share — 25%. With Galaxy Entertainment<\/strong> having a strong February (22%), SJM slips to third place, although still well into double digits.<\/p>\n

\"doubledown-jim-veevaert\"<\/a>The seats of DoubleDown Interactive<\/strong> founders\u00a0Greg Enell<\/strong> and Cooper DuBois<\/strong> didn’t have time to get cold before International Game Technology<\/strong> filled them with Zynga<\/strong> refugee Jim Veevaert<\/strong>. Lucky dog, he gets to work from Seattle<\/strong>, not Las Vegas<\/strong>. His portfolio centers on developing new DoubleDown strategies and games<\/a>. Zynga having sunk from first place in social gaming to third, Veevaert picked a good time to board IGT, which is trying to capture first place from Caesars Interactive<\/strong>. Veevaert’s bounced all over the game industry and IGT’s biggest challenge may be keeping him in place for more than a couple of years.<\/p>\n

After three years at Affinity Gaming<\/strong>, CEO David Ross<\/strong> is calling it quits<\/a>. “A natural inflection” \"Mitchell\"<\/a>was his description of his departure — scheduled for July — from the former Herbst Gaming<\/strong>. Ross’ tenure was marked by some dramatic changes in the company, including swapping slot routes to Golden Gaming<\/strong> in return for a foothold in the Colorado<\/strong> casino industry. He also was responsible for changing the all-too-apt name of Terrible’s Casino<\/strong> to Silver Sevens<\/strong>, a moniker with considerably more appeal. Ross’ brief at Affinity had been to reorganize the bankrupt company and now he plans on taking a sabbatical from gaming (or is being held to a non-compete clause).<\/p>\n","protected":false},"excerpt":{"rendered":"

If you think the emergence of Macao as the gambling capital of the world has been amazing, you ain’t seen nothin’ yet. That’s the essence of a new report from Nomura Securities. It predicts that the Macao market has the … 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":[173,27,7,29,37,62,93,12,61,38],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/12704"}],"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=12704"}],"version-history":[{"count":3,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/12704\/revisions"}],"predecessor-version":[{"id":32090,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/12704\/revisions\/32090"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=12704"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=12704"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=12704"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}