THE M3: SANDS VIP STRATEGY & PAY RAISE

The Macau Metro Monitor, July 30th, 2010

 

LAS VEGAS SANDS RETHINKS MACAU VIP STRATEGY AFTER DISMISSING JACOBS WSJ

Sands China acting CEO Leven says in the coming months, Sands will "study the economics" of using junkets versus direct marketing to VIP players.  This echoed Adelson's comments in the conference call on pulling back on the direct VIP business.  According to CLSA, there are currently 75 active junkets in Macau, the top five of which control about 80% of Macau's VIP market.

 

According to a person familiar with the situation, Wynn Macau also pursues its own high-end customers, but not in large volumes.


SANDS CHINA GIVES WORKERS A PAY RISE macaubusiness.com

According to Irwin Abe Siegel, a board member of Sands China, the salaries of all members who have completed at least one full year of service as of July 1, 2010 and are still in employment as of August 31, 2010 will rise by 3.5%, effective as of July 1.


According to sources contacted by Macau Business, around two thirds of Sands China’s 18,000 workers will benefit from this wage increase.


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