Inside Asian Gaming

INSIDE ASIAN GAMING JUNE 2018 32 FEATURE IN FOCUS REDEFINING TOURISM The prevailing view is that Macau sits a long way off Las Vegas when it comes to non-gaming revenue, yet according to academic Bo Bernhard, these two cities sit side by side in utilizing integrated resorts to provide tourists with an offering they can’t find anywhere else. By Muhammad Cohen Muhammad Cohen also blogs for Forbes on gaming throughout Asia and wrote Hong Kong On Air , a novel set during the 1997 handover about TV news, love, betrayal, high finance and cheap lingerie. I N an era when tourism constitutes a growing portion of the global economy, integrated resorts present a potent although frequently misunderstood means for growing visitor arrivals and revenue. It’s not simply the casino but their range of attractions that make IRs such powerful tools for economic development and job creation while minimizing social costs. Amid Macau’s massive gaming revenue numbers, it’s easy to miss that the “Las Vegasization” of its IRs is underway: non-gaming revenue is approaching the nominal amounts seen in Las Vegas, moving the global casino capital closer to becoming the “world center for tourism and leisure” that Macau and Beijing authorities have mandated. So says Bo Bernhard, executive director of the International Gaming Institute at the University of Nevada, Las Vegas. Bernhard delivered his keynote address titled “The Surprising Impacts of Macau’s Cotai Strip