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CR87-p02-03-international:SJC-Casino Review 23/12/09 15:02 Page 2
internationalcasinoreview
No way back for Bill’s
Harrah’s Entertainment is permanently closing Bill’s Lake
Tahoe Casino on January 4. The 22-year-old casino-only
property is closing because of declining business, dating back
to before the economic downturn, Harrah’s spokesman John
Packer said. Harrah’s Entertainment owns the 510-room
Harrah’s Lake Tahoe and the 740-room Harveys Lake Tahoe
near Bill’s, which operated 310 slot machines in a 18,000-
square-foot casino and a small restaurant.
Macau’s casino sector is very much ‘back on track.’ Whilst those
Universal
words may have been chosen by Lawrence Ho, chief executive
Macau’s 34th
venue: Casino
officer of Melco Crown Entertainment, the evidence is there for all to
Oceanus at
boss slams
see. New casinos are still opening and the patacas are flying in.
Jai Alai
Phil Martin reports on another month of growth compared to 2008.
Japanese
government
Macau’s 2009
for casino
GGR surging
stall
towards
universaldisclaim
JAPAN
record levels
Having previously said
quite publicly that he and
Steve Wynn would submit
a joint bid to operate
casinos in Japan if they
backontrack another month to be added to utive officer of SJM Holdings were legalised, Kazuo
CHINA the total, which between Limited, said: “Oceanus will Okada, chairman of
January and November this be very successful for SJM and Universal Entertainment,
The spring is very much back year has already amounted to for Macau. It is the first casino has slammed Japanese
in the step of Macau’s casino nearly 108bn patacas within easy reach of the ferry politicians as ‘weak’ for
executives with the penin- (US$13.67bn), almost the terminal. The property, in the not taking up the reins of
sula’s 33 venues generating GGR for the whole of last year, busy Outer Harbour District, casino legislation.
over 12bn patacas (US1.52bn) officials are confident that provides another anchor to He has criticised the
in gross receipts in Novem- this year will break records. our business on the Macau Japanese government for
ber, representing growth of One official said he Peninsula, the principal a lack of movement on the
about 60 per cent on the same expected this year’s GGR to hit gaming and entertainment casino issue, saying they
month of last year. a new record, ranging between area of Macau. It is very satis- lack the will to regulate,
Whilst November’s results 119bn and 121bn patacas fying for us to develop tax and let the industry
were down slightly on (US$15bn and 15.3bn). Oceanus at this strategic loca- compensate for declining
October’s record breaking December’s figures will be tion and to consolidate our LUSA agency shows that SJM profitable mass gaming government coffers during
revenues during China’s given a partial boost by the position further in Macau.” is maintaining its market lead- segment continues to be the downturn. Universal
Golden Week holiday period, opening of Macau’s 34th Situated directly opposite ership position with a 32 per above 42 per cent. With Entertainment Corp is the
they do show a resilience casino, Oceanus, owned by the Macau ferry terminal and cent market share. Casino Oceanus at Jai Alai, we world’s number one
returning to a market which Stanley Ho’s SJM. Designed by connected to it by an over- Louis Ng, SJM chief operat- are looking forward to even pachinko maker and a slot
this time last year was suffer- the renowned casino archi- head covered walkway, ing officer, commented: “This more success in the future.” machine manufacturer.
ing like everywhere else. In tect, Paul Steelman, it promises Casino Oceanus at Jai Alai will market share figure repre- The region as a whole has Aruze, the previous name
November last year, the casino to become the latest landmark, be the most easily accessible sents a new high for SJM since received a boost with the of Universal Entertainment,
gross receipts amounted to with its interior decorated in casino to visitors arriving via all six concessionaires came news that after a nearly four- is the majority shareholder
7.5bn patacas (US$949m). cool blue colours combined the ferry terminal or the into operation. We also year wait, the Chinese State in Wynn Resorts, at 19.9
November’s figures would with warm reds, oranges and border gate with Mainland recorded the highest monthly Council is to allow it to per cent. Wynn himself has
have been boosted from last greens meant to be redolent of China at Gongbei. gross revenue volume in SJM’s reclaim 361.65 hectares of an 18 per cent stake.
year’s figures due to the inclu- the sea and corals. The façades The property comprises history. In October we hit a land and develop the Macau- Speaking from
sion of Melco’s City of Dreams of Oceanus are comprised of more than 32,000 square new high and this month we Taipa new city plan. Singapore, Okada said:
project. Indeed, new open- irregular shapes made of ETFE metres of gaming space over have continued that trend The new urban area is esti- “In Japan, politicians are
ings have helped spur 2009’s membrane, giving the visual three floors housing more with a further record figure. mated to have a population very weak in showing the
figures, which during the first impression of the building than 260 table games and over This was achieved in a market capacity of around 120,000 will to do something. If a
11 months increased by about being enveloped in multi 560 slot machines. that was down month on and support Macau’s next 20 politician who displayed
six per cent compared to the coloured bubbles. The publication of Novem- month. We are also pleased to years of development and to such a will were to
same period of last year. With Dr Ambrose So, chief exec- ber market data from the note that SJM’s share of the diversify its economy. emerge, the legislation
would likely be passed
at once.”
Since being voted in in
Binion’s loses hotel
September Prime Minister
Yukio Hatoyama’s
Democratic Party of Japan
rooms as revenue
has sidestepped the idea
of legalising casinos.
Various governments have
stream runs dry
been discussing regulating
the gaming industry for the
last decade in Japan.
As it prepares to launch
noroomsatthebin the downturn. We had to severely affected our opera- Sands Marina Bay in
UNITED STATES make some difficult deci- tions,” Robinson said. “The Singapore, Las Vegas
sions in order to keep the rest hotel rooms were just not Sands has confirmed it is
One of downtown Las Vegas’ of the property operational.” competitive.” considering potential
most iconic properties, The venue which looks Binion’s, also known as expansion in Japan, as
Binion’s, is to close all its out onto the Fremont Street Binion’s Horseshoe, was well as in Thailand and
hotel rooms, as well as coffee Experience pedestrian mall opened in 1951 by Benny India as it looks for more
shop and keno operations as will also keep its poker Binion, who made it famous opportunities in the
a cost-cutting move. room, sports book and the for Vegas innovations such burgeoning Asian region
The gaming floor that Binion’s Ranch Steakhouse as carpeting and velvet as early as next year.
hosted the World Series of open. All 99 rooms in walls, no-limit wagering, a Okada believes Japan
Poker for 34 years will Binion’s hotel and 266 rooms glass display of $1m in cash, should follow Singapore’s
remain open. in the property’s former and for the World Series of lead. Tax revenue in Japan
Lisa Robinson, spokes- Mint tower closed on Poker. In the last ten years it fell 22 per cent between
woman for TLC Casino Enter- December 14 with about has been owned by April and October, and he
prises Inc, owner of the 100 of Binion’s 800 workers Harrah’s, MTR Gaming sees introducing casinos
58-year-old Binion’s Gam- being laid off. Group and TLC, who bought as a way to generate
bling Hall & Hotel, said: “It’s “This economy has it in March 2008. more money.
January 2010 • internationalnews 3
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