Inside Asian Gaming

INSIDE ASIAN GAMING | September 2009 58 Briefs International Briefs End of sale The possibility of a‘fire sale’ of two MGM MIRAGE casino properties in the United States appears to have receded since the company managed to restructure its finances to tackle its US$13 billion plus global debt burden. Potential buyers had reportedly been circling MGM Grand Detroit and the Beau Rivage in Biloxi, Mississipi, on the hunt for a bargain. Now that the immediate threat to MGM MIRAGE’s existence seems to have passed, the company appears to be suggesting a sale of the properties was never on the table. One possibility raised by analysts is that the bargain hunter or hunters made what MGM MIRAGE regarded as an unrealistic offer. MGM Mirage spokesman Alan Feldman told Las Vegas Gaming Wire , however, that if a serious buyer came forward for these or any other properties, then the company would have a duty to its shareholders to explore the offer. Go fish Online gaming group 888 says its subsidiary, Dragonfish, will lead the UK online launch of the World Series of Poker (WSOP) and Caesars Casino brands on behalf of US casino operator Harrah’s Entertainment. Under the deal, Dragonfishwill make its e-payment and customer support services available to the brands to help them build market share, said 888’s chief executive Gigi Levy. LVS slot bid Sands Casino Resort Bethlehem has asked state regulators to allow it to install more slot machines on the floor. The operator, Las Vegas Sands Corp, had originally indicated it wished to put an extra 2,000 units in the property. It currently has 3,000. A spokesman for Sands Bethlehem said the current application with Pennsylvania’s Gaming Control Board was for fewer than 2,000 new machines. He added the company hoped to have permission in time to bring the new equipment online by the third week of November. Las Vegas shrinkage slows The number of people visiting Las Vegas fell for the 14th month in a row in July. Some comfort is that the rate of year-on-year decline slowed during the month. More than 3.1 million tourists visited Las Vegas during July, 1.3% fewer than the 3.2 million who came to Southern Nevada a year ago, according to figures released by the Las Vegas Convention and Visitors Authority. For the first seven monthsof2009,visitor volume was down 6% with 21.3 million people coming to Las Vegas through July, compared with 22.7 million for the same period a year earlier. People are paying less for rooms and spending less on goods and services, the Authority said. The average daily room rate during July was US$86.23, down 18.6% from US$105.97 in July 2008. Clark County gaming revenues declined 10.9% during the month, says Las Vegas Gaming Wire. For the first seven months of the year, room rates were down 25.8% compared with 2008 while gaming revenues were down 13.1% in Clark County, an administrative area incorporating the Las Vegas Strip where many Las Vegas casinos and hotels are located. Citywide hotel andmotel occupancywas 84.2% in July, compared with 87.2% a year ago. For the year, room occupancy is at 82.9%, a 6% decrease compared with 2008. Convention attendance was down 5.5% in July. Convention attendance fell 26% for 2009 with 19.5% fewer conventions and meetings compared to the first seven months of 2008. Nevada revenues down—again Nevada’s gaming fell sharply in July—the 19th monthly decline in a row according to figures released by Nevada’s Gaming Control Board. Across the state, casinos reported gaming revenues of US$872.7 million during the period—a 12.5% decline compared with US$997 million reported in July 2008. Las Vegas Strip casinos reported revenues of US$461.3 million, a decline of 11.1% compared with US$519.2 million a year ago. The one bright spot was casinos inNorth LasVegas.They recorded a 7.4% increase in revenues to US$23.6 million from US$22 million a year ago, helped by the new property ‘bounce’ felt when Aliante Station opened in November last year. The Beau Rivage Sands Casino Resort Bethlehem