Inside Asian Gaming

December 2010 | INSIDE ASIAN GAMING 45 Briefs coming from other self-promoted casinos, including the old Casino Lisboa, Casino Jai Alai, Casino Oceanus and three slot halls and one tombola hall. However, the satellite casinos contributed only 26.6% of SJM’s HK$1.2 billion EBITDA (earnings before interest, tax, depreciation and amortisation) in the quarter, while the Grand Lisboa alone contributed 51.0%. During 3Q 2010, SJM’s VIP gaming revenue was HK$9.4 billion, an increase of 100% on the year-ago quarter. Mass market gaming revenue was HK$4.3 billion, an increase of 29%, and slot machine revenue was HK$316 million, an increase of 32%. SJM’s total 3Q 2010 revenue of HK$14.1 billion (compared to HK$8.3 billion in 3Q 2009) included hotel, catering and related services revenue of HK$108 million (vs. HK$79 million in 3Q 2009). In the third quarter of 2010, SJM operated an average of 474 VIP gaming tables (vs. 239 in the third quarter of 2009), 1,274 mass market gaming tables (vs. 1,185 in 3Q 2009) and 4,370 slot machines (vs. 4,039 in 3Q 2009). SJM’s capital expenditure during the third quarter of 2010 was HK$186 million, which was primarily for work on the upper floors of Grand Lisboa and equipment purchases. Dr. Ambrose So, Chief Executive Officer of SJM Holdings Limited, commented: “The operating results of SJM Holdings for the third quarter of 2010 are very positive—in particular the increase of our net profit by 528% as compared to the year earlier quarter. „We have also maintained the strength of our balance sheet, which positions us well for future expansion of our gaming and gaming-related businesses in Macau. “For the year to date, SJM has outperformed the industry and gainedmarket share in a highly competitivemarket. I amvery pleased to note that this progress has continued through October, which was a record month in gaming revenue for SJM, and our market share increased further to over 32%.” Venetian Macao opens marketing office in Sydney The Venetian Macao has opened an office in Sydney to serve the Australia, New Zealand and Pacific markets. It will have a strong focus on MICE business. Brendon Elliott, vice president of sales atTheVenetianMacao said, ‘Macau is an ideal destination for groups traveling from Australia and New Zealand. It’s easily accessible, affordable, and provides endless entertainment options.’ The Venetian has released its new Entertainment and Meeting Packages for groups of 20 or more. The number of Australians travelling to Macau continues to grow. A total of 82,000 Australians visited Macau in the nine months to the end of September, according to the Macau Statistics and Census Bureau. Australia is currently The Venetian’s 7th largest MICE market. The property has 3,000 suites, 1.2 million sq. ft of convention and meeting facilities as well as a 15,000-seat CotaiArena designed for sports events and concerts. Jim Murren visits Ho Tram Strip site The long-delayed MGM Grand Ho Tram will be the first resort development for Asian Coast Development (Canada) Limited (ACDL). According to CEO Lloyd Nathan, ‘the foundations are being laid and the construction of the shell and core is about to commence.’ Jim Murren, Chairman and CEO of MGM Resorts International, together with Gamal Aziz, CEO of MGM Hospitality, the company which will manage phase 1 of the planned US$4.2 billion project, and a delegation of senior representatives from MGM Resorts and ACDL, recently visited the site of the future MGM Grand Ho Tram for consultations with the design and construction teams. Mr Murren commented optimistically on Vietnam’s attractions: ‘Vietnam is an integral part of our strategic plans for ambitious developments in Asia. We believe the Ho Tram development is perfectly suited to complement Vietnam’s rapid growth in international visitation, expanding domestic tourism, and increasing demand for luxury leisure opportunities.’ MGM holds ‘King of Baccarat’ finale On 20th and 21st November, MGM MACAU held the finale of the ‘King of Baccarat’ tournament, which is part of the ‘The Royal King of MGMMACAU’tournament series that gives out an all-time high prize pool of HK$10,888,888. ‘The Royal King of MGM MACAU’ tournament series includes the ‘King of Slot’ and ‘King of Baccarat’ tournaments. While the ‘King of Slot’has just been crowned, the ‘King of Baccarat’remains unknown, with players having to compete with hundreds of contestants to claim the ultimate throne. The ‘King of Baccarat’ finale attracted crowds of players and onlookers at MGM’s Grand Ballroom, featuring a prize pool of HK$1,674,000. Among theplayerswas famousHongKongadvertising artist Kenneth Lee. Rendering of the planned Ho Tram Strip Kenneth Lee