Inside Asian Gaming

inside asian gaming April 2015 33 This overseas battle for Manila market share could escalate. The real value of LVegas for Bloomberry may be its casino license, which Bloomberry could use to build an IR on the island, according to Mr Lee. In February, Genting Singapore, the Genting Group subsidiary that operates Resorts World Sentosa, broke ground on the $1.8 billion Resorts World Jeju, also in partnership with Landing. Feature DOUBLE PLAY Currently, the Chinese VIP players at Solaire mostly hail from the southern provinces. Opening a resort in Korea would not only extend Bloomberry’s reach into Northern China, but could also boost revenue from Korean players at its Manila property. Solaire executives say Korea is their second largest source of VIP play after China. Even though Bloomberry’s Korea casinos would be for foreigners only, they could showcase the Solaire brand to Koreans through non-gaming facilities, encouraging more Koreans to visit Manila for the full monty. Bloomberry isn’t the first Manila operator to enter Jeju. In November, Genting Hong Kong, a partner in Resorts World Manila operator Travellers International Hotel Group, spent $117 million for a 50% stake in Jeju’s former Hyatt Regency Casino on the south side of the island. The casino reopened in January as Genting Jeju with 28 tables and 16 slot machines. Hong Kong-listed mainland Chinese property firm Landing International Development owns the rest of the casino plus the host hotel. “Our opening in Jeju expands our footprint to effectively service the needs of our customers in the region and is strategically located to work within our network of existing properties,” Genting Hong Kong communications executive Desmond Chung says. “Both Korea and the Philippines are important markets for us, and we are happy to be able to provide positive Genting touch points for our guests wherever they may reside or visit.” The real value of LVegas for Bloomberry may be its casino license, which Bloomberry could use to build an IR on the island.