Las Vegas Sands cotai strip Macau


 


Introduction


 (2009) indicated that, the opening of Macao’s casino industry with new legislation passed by the government of the Macao Special Administrative Region has provided the opportunity for new foreign casino operators, Wynn Resorts (Macao) Limited, Las Vegas Sands, Galaxy Casino Company Limited (Hong Kong), MGM Mirage, Melco Crown and others to launch casino operations in the region. One of the strategic decisions that participants in this market must make is the composition of table games and slot machine offerings, as well as the mix of gaming and non-gaming amenities, to be employed in casino properties. The evaluation of the characteristics and prospects for table games and slots in the emerging gaming market of Macao is also of considerable interest to the casino operations wholly-owned subsidiary of previous casino monopoly and its joint venture properties ( 2009).


 


Background information


The recent controversy of Guia Hill is example of how private developments are eating up all available spaces, particularly after the COTAI area, destined majorly as residential area for the city expansion, was converted in the “COTAI Strip”. The forecast residential density just migrated from area to Macao peninsula and central Taipa Island where the new tower rich 50 floors (2006). COTAI plan was designed to support residential population of 180,000 residents and 40,000 visitors to MICE and hotel. After the liberalization of the gaming industry, private and public spaces like schools, fire stations, markets, and residential places were all being eat up.


Only the race carting and small golf course remain untouched because they are built over garbage dumpling reclamation. Even if the population is rapidly increasing, there is no space available for school, social facilities and residence was removed from the 1999 plan, new plan contemplates casinos and hotels with few high class residential complex, most of them inaccessible for local residents. There are no hospitals, churches and parks, Macao citizens are moving to green landscape and better environment of neighboring areas.


 


Performance Evaluation


Casino and hotel developers bought even the space reserved for the extension of Macao University of Science and Technology for about 10 billion- a space exclusively given for education purposes by the government. Legislative Councilor  even publicly criticized that “in this case no one knows how much they sell for the site. The purpose of land use has been changed without any announcement and public consultation” (13 February 2007). The land transaction process was considered as a black box activity. Local residents also express their dissatisfaction. The IACM (Institute for Civic and Municipal Affairs) also received resident complaints about casino developments on the Taipa Lake, an area that is just in front of bird-reserved area with rich ecological value ( 13 February 2007).


Thus,, also concerns about the lack of green spaces in the Taipa area and blame that new developments have taken away most of their sport grounds, green spaces and recreation sites (21 June 2006). Macao needs holistic urban planning strategy to cope with the future population growth and tourism development. The planning process is not transparent at all and only the few of them can determine the fate of the City. Macao does not have statutory channel for public inspections of town plans. It does not have transparent land sales system such as public auction or tendering. The announcement of the master plan for Macao, positive steps for Macao development in scientific and social responsible way.  (2006) there accounts to tourism destination, purpose of revenue management is to maximize the amount and minimize the risk of tourism revenue how Macau can maintain stable gaming revenue growth via product differentiation in the face of competition from emerging gaming destinations in Asia.


Macau has recently opened its gaming market by bringing in Las Vegas gaming operators. While the introduction of Las Vegas-style casinos should help modernize Macau’s gaming industry, Macau’s market advantage is being threatened by the proliferation of Las Vegas-style destinations in the region. Implementing revenue management strategy, Macau will be able to preserve its risk-taker market and minimize the revenue risk posed by upcoming competition in the region. The onset of global financial tsunami in late 2008, Macao’s casino capitalism has been forced into retrenchment.


Foreign investors in its casino industry have scaled down their projects and reduced both salaries and benefits for their employees. The Las Vegas Sands in late 2008 halted construction of hotels and shopping centers on the reclaimed land known as the Cotai Strip, Chinese mainland and Hong Kong construction workers lost their jobs Macao government had to draft contingency plan for repatriating mainland workers who might otherwise have overstayed their visas. Thus, other casino capitalists reduced the work hours and pay of employees, leading to complaints from casino employees unions that had seldom asserted themselves in past years.


 


 


 


 


 


 



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