My Macau

Granted , I was far from the first gaming industry journalist to visit Macau when the Venetian Macao opened in August 2007 . I had heard so much about the “ capital of gaming ” because even 15 years ago , the revenues it achieved far outpaced any other gaming jurisdiction in the world , including Las Vegas . I had a good frame of reference for the opening of the Venetian since I had spent so much time in the Las Vegas version of the same property . But the Macau version just seemed bigger and better — and certainly more crowded . And I was immediately hooked .

As a former dealer , I relished a casino floor comprised largely of baccarat tables , my favorite game to deal . Those pesky slot machines were limited to the margins of the casino floors , and , at that time , weren ’ t very popular .

I returned to Macau every year until 2017 because I had been a consultant to G2E Asia , helping them set up the conference program at the event . Every year I ’ d return , there would be a spectacular new property , whether it was an expansion of the Las Vegas Sands footprint , the amazing Galaxy project , which will debut Phase IV in 2023 , Melco ’ s City of Dreams integrated resort with several different fabulous hotel brands and spectacular architecture , the two other U . S . entries , Wynn Resorts and MGM Resorts , each of which had familiar , yet Asian-focused properties , and of course the original SJM , Stanley Ho ’ s family flagship , Lisboa .

I came to look forward to my trips each year , not only for the amazing facilities that were going up but also for the incredible executives who were truly making it the world capital of gaming . Of course it all started with Mr . Ho , but it truly broke out with the vision of Sheldon Adelson , who saw gold in a wet , reedy marsh separating two neighborhoods in Macau . Adelson , along with Bill Weidner , Brad Stone and Rob Goldstein , transformed that marsh in what we know as the Cotai region today , home to almost a dozen integrated resorts , with thousands of hotel rooms , many hectares of meeting space , non-gaming attractions and restaurants that will satisfy any taste bud . I ’ d start to list the executives in Macau that I was most impressed with but I ’ m sure I ’ d leave out someone important , but it ’ s safe to say that they were some of the most talented and innovative people that I ’ ve met in my 40-plus years in gaming .

Since I haven ’ t been back since 2017 , it ’ s almost inconceivable to me that those casino floors that were

By Roger Gros , Publisher

once packed from morning to night with players wagering side by side and over the shoulders should be sparse and empty . The pandemic has almost been a death knell for the gaming industry in Macau . The companies have poured millions of dollars into the maintenance of their properties and the well-being of their workforce , with little in return . The “ zero tolerance ” policy of mainland China seems to be insane given how the rest of the world has recovered from the Covid situation . Yes , there are still cases popping up all over the world , but their severity is much diminished . And to sacrifice the gaming industry at that altar seems to be short-sighted .

And then we ’ ve got the situation with the VIP operators , the junket guys . When I was helping to put together the G2E Asia conference program , we always tried to include a panel of experts to talk about that market , which contributed around 70 percent of gaming revenue in those days . The VIP market was not the players on the main casino floor . They all had special rooms that they had built inside the casinos to host their players in the luxury — and privacy — they desired .

So it wasn ’ t always easy to get them to participate . But one year we had a panel consisting of some of the most powerful junket operators in town , and someone asked a question about the amount of money gambled on the tables — and beneath them , in the form of illegal bets . There was no hesitation when the operator answered there was 10 to 20 times more money bet under the tables than on them . There was an audible gasp throughout the room , but I saw the fellow panelists all nodding their heads .

With the recent crackdown on these VIP companies , that situation is over . The casino companies are now focusing on what they call the “ premium mass ,” that is , the good players but not the “ whales ” of the VIP market . For sure , those whales will return , but it will be under the strict rules of the Chinese government .

So the “ good old days ” of the “ Wild West ” Macau are clearly over . When — and if — the Chinese government reopens the borders , satisfied they stamped out every last case of Covid , Macau still won ’ t be the same . It will no longer be the sole capital of gaming . It will still be a great market , but one that will compete with many great markets in Asia .

I ’ ll miss the old Macau , but look forward to its bright new future .

Roger Gros , Publisher | rgros @ ggbmagazine . com twitter : @ GlobalGamingBiz

Frank Legato , Editor | flegato @ ggbmagazine . com twitter : @ FranklySpeakn

Jess Marquez , Managing Editor jmarquez @ ggbmagazine . com

Monica Cooley , Art Director mcooley @ ggbmagazine . com

Terri Brady , Sales & Marketing Director tbrady @ ggbmagazine . com

Becky Kingman-Gros , Chief Operating Officer bkingros @ ggbmagazine . com

Lisa Johnson , Communications Advisor lisa @ lisajohnsoncommunications . com twitter : @ LisaJohnsonPR

Columnists Frank Fantini | Anton Severin | Rich Sullivan

EDITORIAL ADVISORY BOARD Rino Armeni , President , Armeni Enterprises

• Mark A . Birtha , Senior Vice President & General Manager , Hard Rock International

• Julie Brinkerhoff-Jacobs , President , Lifescapes International

• Nicholas Casiello Jr ., Shareholder , Fox Rothschild

• Jeffrey Compton , Publisher , CDC E-Reports twitter : @ CDCNewswire

• Dean Macomber , President , Macomber International , Inc .

• Stephen Martino , Vice President & Chief Compliance Officer , MGM Resorts International , twitter : @ stephenmartino

• Jim Rafferty , President , Rafferty & Associates

• Thomas Reilly , Vice President Systems Sales , Scientific Games

• Michael Soll , President , The Innovation Group

• Katherine Spilde , Executive Director , Sycuan Gaming Institute , San Diego State University , twitter : @ kspilde

• Ernie Stevens , Jr ., Chairman , National Indian Gaming Association twitter : @ NIGA1985

• Roy Student , President , Applied Management Strategies

•

David D . Waddell , Partner Regulatory Management Counselors PC

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The views and opinions expressed by the writers and columnists of GLOBAL GAMING BUSINESS are not necessarily the views of the publisher or editor .

GLOBAL GAMING BUSINESS is published monthly by Casino Connection International , LLC . Printed in Nevada , USA . Postmaster : Send Change of Address forms to : 1000 Nevada Way , Suite 204 , Boulder City , NV 89005

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Official Publication

4 Global Gaming Business DECEMBER 2022

GGB Magazine December 2022 | Page 4

My Macau

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