Inside Asian Gaming

August 2012 | INSIDE ASIAN GAMING 47 Briefs two key markets, Singapore and Las Vegas. In Singapore, total revenues at the Marina Bay Sands fell 5.8% to US$694.8 million. The figure includes a 7.5% decrease in casino revenue, which was hurt by lower table game hold. “Looking ahead, as Singapore’s complementary business and leisure tourism offerings continue to expand, we are confident that Marina Bay Sands will continue to generate outstanding returns for our company,”Mr Adelson said. Total revenues on the Strip from The Venetian and Palazzo fell 1.6% to US$327.3 million in the quarter. Hold percentage was lower compared to a year ago, which lowered the company’s results. “Baccarat play was up, but other table games play was down, reflecting overall market conditions in Las Vegas,”Mr Adelson said. Wynn Resorts Earnings Hit By Declines in Macau and Vegas Wynn Resorts Ltd reported that second-quarter earnings fell short of analyst estimates as revenue fell on lower gambling figures in Las Vegas and Macau. Net income was US$138.1 million, or $1.37 a share, compared with $122 million, or 97 cents a share, in the second quarter of 2011. Revenue was $1.25 billion, a decline from the $1.36 billion the company reported in the same period last year. Analysts surveyed by Yahoo Finance had expected earnings of $1.54 a share on revenue of $1.36 billion. Steve Wynn, chairman and chief executive of Wynn Resorts, said Las Vegas gaming revenues were hurt by a lower hold in baccarat. He described the decline in baccarat revenue as “short-term.” “Last year inLasVegasweenjoyedaveryhigh (hold),”MrWynn told analysts on a conference call following the earnings announcement. “Baccarat play tends to be volatile. The rest of the business was flat or slightly up in Las Vegas.” “No one can predict tomorrow. We have to be prepared for anything,” Mr Wynn said. He described China’s economy as being “more stable than anywhere else, even if things are a little sketchy.” Casino revenues at Wynn Las Vegas and Encore were US$98.6 million, down 37.7% from the second quarter of 2011. Revenues for the second quarter in Las Vegas were off 11.6% to $345.6 million, while earnings before interest, taxes, depreciation and amortization declined to $81.9 million. The company’s Macau revenue fell 7.1% to $907.6 million, while EBITDA declined 3.9% to $302.2 million. It was the first time its revenue has declined in Macau in three years. “We are very happy with our business in China,” Mr Wynn said. “Asia is starting to feel similar economic stresses to what Europe and the U.S. is feeling. I’m hoping we can be agile enough to adjust to those changes.” Mr Wynn said the company had started work on its US$4 billion Cotai project, its second Macau resort. The project includes 2,000 hotel rooms, 600 gaming tables, 10 restaurants, shops, a spa, meeting rooms and a nightclub. Mr Wynn described Cotai as an “ambitious and far-reaching project” that if done right will change Cotai much as the Bellagio and Wynn changed the luxury resort business in Las Vegas. “This business is about amusement and self-indulgence on a certain level,” he added. Shares of Wynn Resorts have been hit hard in recent months over worries about Asian growth and the company’s legal battle with co- founder Kazuo Okada. The company announced that it has approved a cash dividend of 50 cents a share, payable on 14th August to shareholders of record on 31st July. Grand Casino Bern Chooses Gaming Support Signs Grand Casino Bern, one of Switzerland’s largest and most prestigious casinos, has chosen to install a range of signs by Gaming Support. Under the terms of the agreement, Gaming Support will deliver specially designed signs to help Grand Casino Bern create a refreshingly attractive environment for its customers. With 14 live tables and 350 cashless gamingmachines, this A-license casino offers six enticing jackpots; including the Swiss Jackpot, Europe’s largest tax-free casino jackpot. “Gaming Support signs offered the best combination of innovation, speed and quality to meet our needs,” commented Gerhard Stiegler, Technical Director of Grand Casino Bern. “The designs by Gaming Support exceeded our expectations as unique signs to help refresh the look and feel of our casino floor. We will use these signs to help communicate with our customers a variety of the jackpots we offer throughout our property, including the Swiss Jackpot, our Teatro Jackpot and our Auto Jackpot.” Gaming Support will supply Grand Casino Bern both traditional and Agility signs. The latter is the company’s super slim, lightweight sign option. Evolutionary product—Wynn and Encore Las Vegas Gaming Support jackpot sign at Grand Casino Bern