Inside Asian Gaming

IAG MAY 2022年5月 亞博匯 60 additional difficulties in bringing players to the table to play. For US$500 million you still get a very good property. You don’t necessarily need the 18- hole golf course that goes with a lot of these IRs. It doesn’t drive revenue. Of course, it helps – it’s an additional tool in the toolbox – but today technology also gives us assistance in what we can do to drive revenue to our businesses. Proxy betting, phone betting – that’s been around for a long time but we know how much revenue it brings to the table. For some properties, 75% of their revenue is brought in by proxy. IAG: Is there potential for the locals market in Vietnam? SM: I think we’re currently looking at limited potential really. We’ve seen two large properties struggle. Ho Tram is effectively a real estate business now – it really doesn’t have any significant contribution from gaming. I’d like to say that Hoiana wouldn’t be in that same box but it’s hard to say it isn’t, if we are brutally honest. It looks like it is going to be a real estate development in terms of delivering the core revenues, because I don’t see how gaming can. So there is a long way to go before we can think about seeing recognized integrated resort developers like Wynn coming into Vietnam. Until they open up with a non-foreigner model and allow locals, I don’t IN FOCUS