Inside Asian Gaming

inside asian gaming October 2014 36 What else do you see for NewCity in the near term? What’s interesting to you? I always focus on consumer retail and lodging. But I’m not limiting myself to anything. Any industry, any deal that’s exciting, that catches my eye, I will do it. Technology. Health care. Those industries I look at. And if the opportunity is there I will invest. Do you see yourself staying in Asia, or are you looking beyond? I mostly look at Asia and the US both. But more focused on Asia. I think there is more opportunity here. But I’m not letting the US market go. I always keep my eyes open, always looking for opportunities. A lot of people are approaching me, in gaming. I did Macau, the investment in the junket. Did Vietnam. Taking the junket public, the first ever to list, and in the US as well, that was groundbreaking. Yes, I think listing in the US, it brings a very positive side to Macau and to the Macau junket business. We’ve been listed three and a half years already and we’ve been very successful on that side. I’m hoping the junket business will have more people doing that. Now, as Iao Kun, you’re dual-listing. Why? It allows us to access two markets. You have the US capital markets and the Asia capital markets. It’s an introductory listing, not an equity- raising. Why go that route? On that, I’d rather not say. We’re still under a quiet period. Do you think maybe Hong Kong and Asian investors understand the junket business better than investors in New York? Yes, because they are here. They understand Macau and the VIP business. In Las Vegas they don’t have that system. It’s a little bit difficult to expand into the US. But you like the gaming space. It’s a coincidence, you know. But I like gaming. I like gaming, yes. And I’ve received a lot of calls from different regions— Cambodia, South Korea, a lot of people approaching me. I’m looking into it. I’ve looked at a couple projects. Even Las Vegas. I keep my eyes open. Las Vegas, that’s interesting. Yes. Just to throw out an idea. I don’t know. I always watch. Sometimes you need to watch for a year, two years, three years. … Atlantic City. Hotels keep closing, Casinos keep closing. Everybody says it’s bad. But for me, you never know, it could be an opportunity. No shortage of properties there that could use some capital. Revel went pretty cheap. But you need to have a really good plan. You don’t just come in. You need a five-year, 10-year plan. What’s in your mind? What can you do, you know, after you invest? That’s the most important. What kind of landmark do we have? What kind of resources can you push? Why can you do it different than other people? Everybody invests. Everybody has money. But you need to stand out. After you invest, how can you help the project become much different than it was before? It’s not just putting in money, putting in money; but putting in money and creating change. “Everybody invests. Everybody has money. But you need to stand out. After you invest, how can you help the project become much different than it was before? It’s not just putting in money, putting in money; but putting in money and creating change.” Insights “I like non-performing assets.”