Inside Asian Gaming

inside asian gaming July 2016 22 Feature In Focus Galaxy calls the US$44 million Monaco buy-in a strategic investment and assigned GEG President Michael Mecca to take its seat on SBM’s board of directors. “Monte Carlo is an established and well reputed gaming destination,” Mr Gallaway says, applauding Galaxy’s move. “On a much smaller scale, it’s the Las Vegas of Europe.” Mr Bartlett concurs, noting, “75% of the world’s super yachts are moored in Monte Carlo and it will always be an attraction to the super rich, [but] they are clearly looking to future growth from the Far East.” “We have met them, and we have some high-end Chinese VIPs going to Monaco for tourism,” Pacific Financial Group founder Tony Tong, an investor in junkets promoters and advisor to them, says. Genting’s partner in an IR on South Korea’s Jeju Island, Landing “London casinos which are more boutique in style are popular with Asian VIPs. They have children at school in London, own property there, and can find the food they like. The casinos can also cater for the big bets they are prepared to make.” Malaysia’s Genting opened Resorts World Birmingham in the UK last year Europe’s Best Bet? Cyprus is poised to host what observers call “Europe’s first international-style” integrated resort. The Mediterranean state has shortlisted a trio of Asian casino operators to submit project proposals: Cambodia’s NagaCorp, Manila’s Bloomberry Resorts and Macau’s Melco International in partnership with Hard Rock International. The winner will get a 30-year gaming license, with exclusivity guaranteed for 15 years amid generally friendly terms, in a popular tourist destination. Many experts see Cyprus as Europe’s best bet for Asian – and other – casino investors. By Muhammad Cohen