IAG APRIL 2016 - page 9

April2016
inside
asiangaming
9
Cover Story
I use the exampleof LVS [LasVegas Sands, inMacau], where I
came from. There’s theVenetian, there’s theParisian and youhave
the Four Seasons in themiddlewith apartnership there. Across the
street, St Regis, Conrad, Sheraton… same thing, wherewe could
ownoneor two and theother five, six or seven are all other owners,
exactly likehow it is inMacau.
IAG:Howdoes thedeal Best Sunshine signed inDecember
withKanPacific tocooperate through the termof its lease
expiringApril 2018fit in?
MB:
It was a partnership agreement that, if wewere awarded
the RFP, wewouldpartner with them andwhere they will also
continue onwith us. If they want to build a Japanese hotel on our
site, they could do that,maybewe could get on the land sooner,
andwe’ll all do business together.We still want the Japanese
market here, so for a Japanese company to build a Japanese hotel
on our land, that’s great.
IAG: Under theagreement, theywon’t bidon the site?
MB:
I’mnot sure if theywill or not, but they already knowwhat
our plan is. So if they are going tobidUS$80million to fix up
their resort, that’s not going tobe any competition towhat we are
planningondoingon that site.
AMERICA’SCOTAI
IAG: Thatwill be1,000 rooms?
MB:
Inone building, andweplanonhaving 20buildings. The site
is huge. That’s a city, our versionof theCotai Stripwith 11 hotels
andnine casinos, villas andhomes and condos, the largest water
park in theworld, shopping. It’s an astounding site.
IAG:Wheredoyou standwithfinancingGrandMariana
andbeyond?
MB:
ForGrandMariana, as I told the [CommonwealthCasino]
Commission, the funding isdone.Wehave themoneyalready for the
US$500millionproperty.We raised in theverybeginningUS$350million.
Wesold theHengsheng junketpiece; thatwasUS$50million.Weare
very transparenthere.Wehave toshow theCommissioneverything.
IAG: Sonowwhat’s the relationshipbetweenBest
SunshineandHengsheng?
MB:
Now, absolutely nothing. That’s sold, that’s out of our
company.Now there’s zero.
IAG:Howdidyoufinance the rest?
MB:
TheUS$300millionwas raisedby equity and convertible
Wearebuildingandgotapproval in full foraUS$500-to-600millionproperty
across the street,GrandMariana,whichwillhavebetween400and500 slot
machines, about250 to300 tablegamesand374 suites.
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