Inside Asian Gaming

We are offering a commission of 1.7% and full-blown VIP treatment.” “From Malaysia and Singapore, we get the low-end VIPs, those who check in with about HK$150,000.” he continues. “In Macau, they would probably be public-floor players. Our strength is that we can attract players from Singapore and Malaysia because our commission is 1.7%, and secondly because Phnom Penh is a much cheaper entertainment destination compared with Macau and Singapore. “Gambling is a business of escapism,” he continues. “They not only want to gamble, but they alsowant a varietyof entertainment. With the low-end VIP players, every dollar counts. The cost of entertainment here— karaoke, dinner, drinks and even cigarettes— is a fraction of what it would be in Singapore or Macau. We have a strong following from this category of player. We give them the full-blown VIP treatment, even with only HK$150,000.” Citi’s Michael Beer adds: “Those small to mid-sized players who may not qualify for VIP treatment in Macau or Singapore can receive exemplary service at a place like NagaWorld.” It is essentially pragmatism that has seen NagaCorp through. It started out mostly doingjunkets.Itthenbegantoservethemass market, slowly achieving a more balanced mix, with main floor gaming (referred to by NagaWorld as “public floor gaming”) including slots now approaching two-thirds of total revenue. With the junkets, it aimed for the sub-high-end market because that’s where it could best compete. Feature VIP treatment at main floor prices—Aristocrat Wine and Cigar Bar “They not only want to gamble, but they also want a variety of entertainment. With the low-end VIP players, every dollar counts. The cost of entertainment here—karaoke, dinner, drinks and even cigarettes— is a fraction of what it would be in Singapore or Macau. Club 88 KTV at NagaWorld INSIDE ASIAN GAMING | May 2012 36