Inside Asian Gaming

DECEMBER 2017 INSIDE ASIAN GAMING 61 ASIAN GAMING POWER 50 2 0 1 7 For Star Vegas in Poipet, the training wheels are off. Donaco International’s US$360 million acquisition of the largest casino in Cambodia’s border area closest to Bangkok closed in July 2015 with provisions for the seller to manage the casino and guarantee US$60 million in annual EBITDA until the end of fiscal 2017, which fell last 30 June. Now Donaco has taken over management of the complex and is working with international marketing consultant Vivo Tower to expand its outreach. Star Vegas is vital to Donaco, accounting for 81% of both FY2017 property revenue (AU$136.3 million) and EBITDA (AU$75.9 million). Star Vegas overshadowed Aristo International, Donaco’s casino hotel on Vietnam’s border with China’s Yunnan Province, even though the passing of Thailand’s monarch in October last year depressed the kingdom’s consumer spending in the months that followed. Joey Lim, the 30-something grandson of Genting Group founder Lim Goh Tong, sees plenty of potential in Aristo from the China market and, depending on the early results of casinos that admit Vietnamese, may choose to up Donaco’s investment to apply for that privilege. More broadly, he believes Donaco has the bulk and experience for bigger projects, including Japan. Tom Arasi is one of this year’s biggest movers on the Asian Gaming Power 50, up 10 places on the back of a remarkable year for Manila’s Entertainment City resorts – and Solaire in particular. Since joining Bloomberry Resorts as Solaire President and COO in late 2013, Arasi has not only earned the trust of one of the country’s richest men, Enrique Razon Jr, he has also helped make him even richer with the Philippines market leader enjoying a record breaking year in 2017. Bloomberry’s profit for the first half of the year reached a record Php4.1 billion (US$81.4 million) – the highest on record and 24 times more than the same period in 2016 – with VIP GGR in 2Q17 setting a new company record and mass market revenue the second-highest recorded. In 3Q17 they did it again, with mass revenue hitting an all-time high as Bloomberry raked in another Php1.9 billion in profit. While Solaire had the advantage of being the first IR to open in the Entertainment City precinct, it nevertheless suffered a rocky start and it is the management initiatives implemented by Arasi and his team upon arrival seven months later that are widely credited for steadying the ship. Thomas Arasi PRESIDENT AND COO Solaire Resort & Casino POWER 621 LAST 50 SCORE YEAR CLAIMS TO FAME Turned Solaire’s fortunes around Serves as President, COO and Director of parent company Bloomberry 40