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The return to growth seems to be moving further and further away for Macau casinos. Indeed, other restrictive measures are added to those which caused the drop in revenues of gaming establishments. The Chinese authorities have just communicated that an annual maximum limit for visitors is a project in preparation. This initiative could further complicate the efforts of casinos which are trying, somehow, to resume growth. In addition, the total ban on smoking could soon replace the regulations on the partial ban on smoking in casinos.
Chinese authorities keep up with restrictions
Macau has been experiencing an unprecedented crisis for several months. Indeed, the casinos of the capital of games have been recording turnover in decline for 10 months already. For good reason, the Chinese government has taken actions to fight corruption and money laundering. This time around, Chinese authorities want to limit the annual number of visitors to Macau. The announcement of this new restriction is likely to slow the return to growth of gaming establishments in the region. The objective of this project is to minimize as much as possible the inconvenience caused to residents due to the large influx of tourists.
The Macau government has stressed that the gaming capital can accommodate between 89,000 and 92,000 visitors per day. Exceptionally, during the Chinese New Year, the city receives an average of 147,000 visitors. According to the Minister of Culture and Social Affairs, Alexis Tam Chon Weng, this figure is much higher than the capacity of Macau. As a result, it has been announced that the region will receive a maximum of 21 million visitors per year.
A maximum limit that can change
To reassure Macau casino operators who are concerned about the impact of this limit, Alexis Tam Chon Weng stressed that this figure is not final. When other infrastructures emerge, the maximum visitor limit will be reassessed accordingly. As improvements and constructions are currently being prepared, an increase in this figure will not be long in coming.
This government initiative is another obstacle for Macau’s casinos to return to growth. To this restriction could soon be added the total ban on smoking in casinos. So far the partial smoking ban is in force in Macau. Gaming establishments have thus set up rooms reserved for smoking players. Chinese authorities have indicated that the plan for a total smoking ban is still ongoing. A prospect that is likely to harm the many investments envisaged by operators.…
A China-themed casino is in the works in Las Vegas. The site of the former Stardust casino on the trip will host a $ 4 billion investment for the construction of the Resorts World complex. Purchased from Boyd Gaming in 2013, this land was to be the site of a pharaonic project called The Echelon Place. Built, but never completed, this project has been at a standstill since 2008. The pharaminous Resorts World project will highlight Chinese culture.
China in Las Vegas
If the schedule established by the Malaysian giant Genting Group is respected, the construction of the Resorts World complex in Las Vegas will end in 2018. This investment of 4 billion dollars in preparation will take up an Asian theme. This new casino will honor China and its cultures. Moreover, during the announcement of this new complex, a big ceremony was organized during which the guests were able to attend the ritual of the lion dance.
This gigantic complex will replace the Echelon building on the former site of the Stardust casino on the Las Vegas strip. Boyd Gaming, whose economic situation was not in good shape, had ceded the ground to the Genting group in 2013 for the sum of 350 million dollars. Indeed, the Boyd Gaming project has not changed since 2008. The Echelon Place hotel complex of the group has not been able to succeed.
Resorts World in Las Vegas: a very ambitious project
Covering an area of more than 35 hectares, the large Resorts World complex in Las Vegas will consist of a huge casino, a hotel, a China-themed shopping center, an amphitheater and perhaps a few facilities offered by Malaysian group Genting. Customers and gamers will be able to discover an enclosure for pandas. The hotel with more than 3,500 rooms will surround the giant casino. The amphitheater will have 4,000 open-air seats. The Malaysian group is also considering a few facilities such as an aquarium, indoor water park and bowling alley.
Genting Group owns several hotel complexes around the world. KT Lim, President and CEO of the group, is quite familiar with casino hotels in Las Vegas. Steve Wynn, a fixture in the land-based casino industry, said he was delighted to see such a project take place on the Las Vegas strip.