The Macau Metro Monitor, July 20, 2012
BLOOMBERRY POACHES FILIPINOS IN MACAU FOR CASINO: SOUTHEAST ASIA Bloomberg
Bloomberry Resorts is poaching Filipino talent from Macau as it prepares to lure Chinese gamblers from Macau to its $1BN casino resort in Manila. Bloomberry has already enticed more than 400 Philippine nationals from Macau and Singapore to work at its Solaire Manila Resort & Casino, which will target Chinese and local players. Solaire needs as many as 4,500 workers and will open in 1Q 2013.
COO Michael French said locals will make up a majority of Bloomberry’s patrons in the first year, and it will take 2-3 years to increase the share of international gamblers. His ideal client mix is an even split of local and foreign gamblers, who are mostly interested in high-stakes betting who can bet as much as $1MM per trip and at times, per hand in baccarat.
French said a lower charge or levy for casino operators in the Philippines than in Macau and Singapore will help Bloomberry and other Manila casinos. The Philippines collects a regulatory fee of 15%-17% on revenue from so-called high rollers compared with Macau’s 40% and Singapore’s 25%.
The Philippines estimates the Manila casino development will add 1MM tourists each year and employ 40,000. Bloomberry plans to hold one more job fair each in Macau and Singapore to fill the remaining 150 management positions in the group, targeting Filipinos who have gained experience working in casinos, hotels and luxury liners.
NO TAIWAN SCARE Macau Business
Secretary for Economy and Finance Francis Tam said the Macau government is not worried about the prospects of new jurisdictions in Asia opening casinos and there is still further room for the regional gaming industry to expand. He added that he believes it is possible for Macau to sustain the actual GGR levels and to ensure a sustainable development for the casino industry in the future, even with more regional competition.
MGM CHINA STILL CONFIDENT IN COTAI APPROVAL Macau Business
MGM China CEO Grant Bowie said again that the company is confident about getting a foothold in Cotai. Bowie told reporters that the government is still handling the application. MGM China is already in talks with bank syndicates to seal a loan for the Cotai project, but he stressed the gaming operator has not yet finalised any deal.
CONSUMER PRICE INDEX FOR JUNE 2012 DSEC
Macau CPI for June 2012 increased by 6.19% YoY.