[bumpercar]

"Why other resorts should be worried"

"Roughly 18% of Las Vegas guests are international visitors, and more than half of those come from Asia, mostly China. There has been speculation the resort will try to appeal to this large group of Vegas visitors. Will Asian guests want to visit the U.S. only to stay in an Asian-themed resort? Who knows. However, that's not what should be worrisome to other Las Vegas companies."

City Center beat them to it by a decade. That's why it has all those luxury-brand stores - to appeal to Asians who are large consumers of such products. Making a casino Asian-themed wont attract Asians, just like how the Venetian's Italian-theme doesn't attract Italians - people go on vacation to experience new things, not run to what they just left behind in their own country.

[BBMW]

What's their business model?

Originally Posted by Willy702

I don't think the local market understands the Genting business model. It isn't going to disrupt the Strip one bit. It will be a nice influx of workers and improve the dead shell there now.

[von949]

Originally Posted by bumpercar

"Why other resorts should be worried"

"Roughly 18% of Las Vegas guests are international visitors, and more than half of those come from Asia, mostly China. There has been speculation the resort will try to appeal to this large group of Vegas visitors. Will Asian guests want to visit the U.S. only to stay in an Asian-themed resort? Who knows. However, that's not what should be worrisome to other Las Vegas companies."

City Center beat them to it by a decade. That's why it has all those luxury-brand stores - to appeal to Asians who are large consumers of such products. Making a casino Asian-themed wont attract Asians, just like how the Venetian's Italian-theme doesn't attract Italians - people go on vacation to experience new things, not run to what they just left behind in their own country.

And Circus Circus doesn't attract clowns, NYNY doesn't attract New Yorkers, Treasure Island didn't attract pirates and Golden Nugget doesn't attract gold miners.

[usnftcret]

If they put in everything that is being touted, it will be a major attraction on the Strip.

[newopty]

Originally Posted by von949

And Circus Circus doesn't attract clowns, NYNY doesn't attract New Yorkers, Treasure Island didn't attract pirates and Golden Nugget doesn't attract gold miners.

I am not so sure that Circus Circus doesn't attract clowns.

[Willy702]

Originally Posted by BBMW

What's their business model?

International VIPs and junkets. People who are not in the databases of LVS or Wynn. That probably is 80% of their hoped for gaming profit. The rest of the stuff I have no idea what they are hoping to get out of. Why I seriously doubt they build 3000 or more rooms. A lot will be clearer when they make it clear who their local management team is because the people they have internally have little idea how to optimize a Strip property.

[BBMW]

I find it strange they feel the need for a Vegas property to service these people (assuming almost all from Asia.) It seems defensive, as if they don't want them trying the existing Vegas whale hunting grounds. But if they're not be marketed to by the existing LV properties, why build and LV property for them? It just might have the effect of exposing their customer base to exactly what they don't want their customer base exposed to. I would think HK, Singapore, Viet Nam, or wherever else in the Far East they could build another casino in would be better.

Unless they have a big enough base of Asian players in America. But, of course these player would be well known to the Vegas casinos.

Originally Posted by Willy702

International VIPs and junkets. People who are not in the databases of LVS or Wynn. That probably is 80% of their hoped for gaming profit. The rest of the stuff I have no idea what they are hoping to get out of. Why I seriously doubt they build 3000 or more rooms. A lot will be clearer when they make it clear who their local management team is because the people they have internally have little idea how to optimize a Strip property.

[ScoopLV]

Did you know that the Chinese word for America translates directly to "Beautiful Land?"

Asians want to come here for reasons other than gambling. If we can snag their gambling dollars on top of their tourism dollars, everyone wins (except the gamblers who lose). I imagine that package deals including Los Angeles, the Grand Canyon, Bryce, Zion with plenty of time at Resorts World are already being marketed to Beijing/Shanghai/Guangzhou whales.

[usnftcret]

Originally Posted by ScoopLV

Did you know that the Chinese word for America translates directly to "Beautiful Land?"

Asians want to come here for reasons other than gambling. If we can snag their gambling dollars on top of their tourism dollars, everyone wins (except the gamblers who lose). I imagine that package deals including Los Angeles, the Grand Canyon, Bryce, Zion with plenty of time at Resorts World are already being marketed to Beijing/Shanghai/Guangzhou whales.

^ You hit it out of the ballpark!

[EA]

People in other countries have these things called disposable income and time off work. A foreign concept in America.