Inside Asian Gaming

INSIDE ASIAN GAMING MARCH 2018 12 SANDS CHINA’S NEWEST MACAU integrated resort, The Parisian Macao, has attracted more than five billion impressions since opening in September 2016. The milestone was revealed by Chairman and CEO Sheldon Adelson in a filing to the Hong Kong Stock Exchange outlining Sands China’s financial performance in 2017. Adelson said that the company’s investment into marketing Macau and Cotai as a business and leisure tourism destination continues to pay dividends, citing the Parisian Macao’s social media program as a key example. He also revealed a 25% increase in total visitation to the company’s Macau properties in 2017 to 92 million visits. “Sands China has now invested approximately US$13 billion to deliver on our promise to help Macau in its economic diversification and its continued evolution into the world’s leading business and leisure tourism destination,” Adelson said. Sands China recorded a 16.0% increase in net revenue for 2017 to HK$60.3 billion (US$7.71 billion) with profit up 31.0% to HK$12.53 billion (US$1.6 billion). PARISIAN MACAO HITS FIVE BILLION SOCIAL MEDIA IMPRESSIONS Hong Kong-listed casino operator NagaCorp has seen gross gaming revenue at its Cambodian integrated resort NagaWorld grow 85% to US$926 million in 2017, bolstered by a 177% increase in VIP revenue to US$625.3 million. NagaWorld saw VIP rolling chip grow 142% for the 12 months to 31 December 2017, rising from US$8.7 billion a year earlier to US$21.1 billion – an increase it attributed to “increasing market confidence in NagaWorld as an integrated gaming and entertainment destination.” Mass market table game revenue grew 15% to US$149.7 million with EGM revenue up 4% to US$150.9 million, both NagaCorp gaming revenue grows 85% in 2017 segments negatively impacted by bad luck given buy-ins increased by 28% and 21% respectively. Company EBITDA grew 25% for the year to US$319.7 million while net profit increased by 39% to US$255.2 million. Detailing the solid performance of the company in 2017, NagaCorp said, “The growth in business volumes and GGR is attributable to a number of factors. First, continued confidence in the political climate and social order of Cambodia’s operating environment, leading to favorable economic conditions and increasing visitation, especially from China. “Second, confidence in the economic climate leads to increasing economic activity, resulting in an increasing number of investors and a growing expat population in Phnom Penh; driving footfall to NagaWorld. “Third, as a result of the completion of Naga2 (soft-opened in November 2017), the company’s balance sheet has strengthened. In July 2017, the group’s property assets were valued at US$5.4 billion by Colliers International (Hong Kong) Limited, while the group remains debt-free. As a consequence of the strengthening balance sheet, players are expressing more confidence, checking in more money, placing higher bets and generating a significant increase in business volume, especially in the VIP Market where rollings increased by 142%.”