Inside Asian Gaming

INSIDE ASIAN GAMING | November 2013 16 FEATURES L as Vegas Sands made more money in the third quarter from sales of watches, jewelry and handbags in China than it made from food and beverage or conventions on the Las Vegas Strip, nearly as much as Marina Bay Sands delivered in room sales and nearly as much as 3,000 slot machines and 120 table games won for the company in the US state of Pennsylvania. It was also a lot cheaper to make. The company generates this money primarily from the space it leases to its mall tenants, plus management fees and reimbursements for the maintenance of common areas and other expenditures. If we take these results from last year, the way LVS does its accounting, income after expenses was US$328.2 million on $396.9 million in mall revenues, 60% of which The Great Mall of China Las Vegas Sands is looking ahead to Parisian Macao to further perfect a destination retail strategy that is on track to deliver $500 million-plus in revenues in 2013 was generated at Venetian Macao, Four Seasons Macao and Sands Cotai Central. It worked out to a whopping 82 cents of operating profit on every dollar. So it’s no surprise that LVS, through its 70%-owned Sands China subsidiary, is duly excited about the potential of the Shoppes at Parisian and has the full-court marketing press rolling two years in advance of the $2.7 billion resort’s slated opening. Sands China CEO Ed Tracy and Senior Vice President of Retail Development David Sylvester kicked it off last month at the suitably upscale Four Seasons Hotel Hong Kong on Victoria Harbour, where a Peak view room will set you back HK$5,100 a night. But then just across the delta in Macau, Sands China’s Shoppes at Four Seasons IN FOCU