IAG AUGUST 2016 - page 9

Studio City and Parisian] and a theme park could be a way to get
them to cross the street.”
The Macau-based analyst sees the west side of Cotai focusing
onmass business, with a “millionaire’s row” ofWynnPalace,MGM
Cotai, City of Dreams and LisboaPalace emerging to the east.
MainlandChina theme park operator Chimelong has built Ocean
Kingdom, the first of up to nine theme parks onHengqin, separated
fromCotai by justa fewhundredmetersofwater.HongKong’sLaiSun
Group, the entertainment conglomerate originally behind StudioCity,
announced lastmonth it would combine attractions fromHollywood
studio Lionsgate andNational Geographic intoNovotown – a 22,000
squaremeter indoor amusement parkonHengqin toopenby theend
of 2018, projected toattract 5million visitorsannually.
The big question is whether Macau makes geographic sense as a
global or Asian theme park destination? Bloomberg Intelligence
Gaming and LodgingAnalystMargaretHuangdoesn’t believe so.
“Theme parksmay be a challenge forMacau, givenHengqin’s
development of Ocean Kingdom next door,” she explains. Ocean
“There were well established and highly accessible clusters of
theme parks and family entertainment facilities in the US such as
Anaheim, California, andOrlando, Florida, whichmade it difficult for
Las Vegas topenetrate into themarket back then,”Mr Zhu says. “In
contrast, within and aroundGreater China, there is no such ‘dream’
destination for families.” Overall, Asia’s family entertainment
remains underserved and the consultant believes casino operators
can effectively exploit that niche.
“The only Las Vegas operator that has been successful at
incorporating amusement rides and gaming is Circus Circus,”
Mr Klebanow observes. “They managed to find the right mix of
family entertainment, dining, lodging and gaming that appeals to
families on a budget. The property offers theAdventuredome – an
indoor amusement park built in 1994 for US$50 million – circus
acts, a slew of arcade games and affordable retail and lodging,
along with fairly low stakes gaming. Ditto for its sister property,
Excalibur. So, it is possible to build a property that incorporates
family entertainment with casino gambling. It just will never
appeal to high-end players.”
That prospectmay not entertainAsia’s casinooperators.
Cover Story
1,2,3,4,5,6,7,8 10,11,12,13,14,15,16,17,18,19,...48
Powered by FlippingBook