Inside Asian Gaming

inside asian gaming October 2014 20 attractions that it says hosted 9,500 events for 2.15 million attendees through last year. Overall, the Tourism Board is pleased with the results. “The two IRs have introduced over 180,000 square meters of MICE space and facilities which offer business venues integrated with unique leisure experiences,” says Carrie Kwik, the board’s executive director for Arts, Entertainment and Integrated Resorts. “This allows event organizers to customize delegate experiences with creative meeting concepts, enhancing Singapore’s competitive edge as a choice business destination. An increase in such spaces has also allowed for an influx of new or expanded events to be anchored in Singapore.” Where Resorts World Sentosa outshines MBS is in revenue from paid attractions. When Singapore decided to legalize casinos, a world-class theme park was high on its wish list, and Universal Studios Singapore has filled the bill. The theme park, opened in March 2010, welcomed its 15 millionth visitor in August. Opened in late 2012, the Marine Life Park, including S.E.A. Aquarium and Adventure Cove Waterpark, offers wet and dry options for observing hundreds of species of aquatic wildlife, and even interacting with them. In all, these attractions drew 6.7 million visitors last year. Additions have included the Maritime Experiential Museum, an interactive journey along a nautical Silk Road, opened in late 2011 and folded into the aquarium when In Focus gaming revenue picture and is a factor in enabling them to deliver the highest EBITDA margins in the industry—52% at MBS in the first half of this year, 45.7% at RWS. Replicating those margins elsewhere may be impossible. As Mr Macomber notes, “There are only a finite number of Singapore- like markets and even fewer that are unserved by casino gaming.” BETTER MICE TRAPS Singapore also seems to be advantaged for meetings and conventions as an international air travel hub and regional corporate and financial center. First-half MICE revenue at Marina Bay Sands was $53.8 million, down 0.4% from a year earlier but representing 12.9% of all non-gaming revenue. MBS, working closely with the Singapore Tourism Board, landed the Sibos international financial services technology convention for next year, last held in Singapore in 2003. The largest convention to choose MBS, Sibos is expected to draw 7,000 delegates, more than double the 2003 total, and generate S$100 million in economic activity, including booking 2,500 rooms at MBS and all of its 1.3 million square feet of meeting and exhibition space for a week. RWS has a smaller MICE component, but it features the region’s largest column- free ballroom, measuring 6,000 square meters with a seating capacity of 6,500. The resort also offers an array of indoor and outdoor spaces in its hotels, public areas and it opened a year later, and the Trick Eye Museum, opened in June this year, featuring optical illusion art and installations. The concept originated in South Korea, and RWS is creating a companion Korean marketplace at its Sentosa Boardwalk attraction with Korean food, cosmetics and other products. “To keep attracting both new and repeat visitors, RWS continuously refreshes and adds to our existing offerings,” a spokesperson for the resort says. “This is especially for local visitors who are looking for something new. This process includes adding new attractions, such as the Trick Eye Museum, and the new rides and show in Universal Studios Singapore, as well as refreshing existing offerings, such as introducing public value- add programming at our aquarium.” The total paid-attractions offering likely produced revenue of more than US$70 million last year and $36 million in the first half of this year, estimates based on the resort’s reported total non-gaming revenue and its related components. That wouldmake them the third-biggest non-gaming revenue producer for RWS, behind hotels and F&B, and certainly something for management to smile about. Editor at Large Muhammad Cohen also blogs for Forbes on gaming throughout Asia and wrote “Hong Kong On Air,” a novel set during the 1997 handover about TV news, love, betrayal, high finance and cheap lingerie. Resorts World Sentosa’s Universal Studios Singapore welcomed its 15 millionth visitor in August. Last year saw the opening of the Marine Life Park, S.E.A. Aquarium and Adventure Cove Waterpark. In all, these attractions drew 6.7 million visitors in 2013.