26 George Tanasijevich
PRESIDENT AND CEO
Marina Bay Sands
MANAGING DIRECTOR – GLOBAL DEVELOPMENT
Las Vegas Sands
POWER SCORE: 1,051
POSITION LAST YEAR: 24
CLAIMS TO FAME
Helms the world’s most profitable integrated resort, an icon envied worldwide
Leads LVS expansion efforts in Japan
It’s impossible to ignore Marina Bay Sands with its triple towers linked by an observation deck, infinity pool and celebrity chef dining 55 stories above downtown Singapore. But it’s just as easy to overlook its remarkable success. The Las Vegas Sands integrated resort is on track this year to deliver US$1.8 billion in EBITDA at a 56.7% margin. No other IR produces comparable numbers.
Credit George Tanasijevich, once an executive at Singapore developer CapitaLand who led the bid for a license and has headed MBS since 2011. Beyond its wow factors, 605 gaming tables and 2,171 machines, MBS shows the convention based IR model that LVS pioneered in Las Vegas can work in Asia. MBS includes 1.2 million square feet (112,00 square meters) of convention space, drawing high spending business tourists. Non-gaming assets – 2,600 hotel rooms with 97.5% occupancy at a US$466 ADR, a striking 800,000 square foot shopping mall and entertainment including two theaters, one now being converted to a nightclub – account for 30% of revenue.
Superimposing those facts and figures over a slide of MBS dramatically transforming downtown Singapore helps Tanasijevich in his role as LVS global development director. Adding that MBS does it all without junket promoters plays particularly well in Japan.
For the full list of 2018 Asian Gaming Power 50 winners, click here.