Retendering21-22

jan24 You went as far as Mandalay Bay, which was on the end of the Strip, they were up to 73 percent non-gaming. So, they had to do a lot more to draw and attract that customer profile that’s attracted most to Vegas. Then Sheldon Adelson really turned it around with his MICE model. And his MICE model was very, very specific. When we were writing the mission, vision and values to introduce to the team, I asked him “Who are we competing with in Vegas?” and he said “We’re not competing with anybody in Vegas. I’m competing with New York City.” And with Opryland, in Nashville. They were doing huge conventions. They had massive convention centers with supporting hotel rooms in the cities. And so the biggest shows in America were being held in those cities. He wanted to bring them to Vegas. So, he had to invent that product. So, the 1.2 million square foot Convention Center, linked directly to 3,000 all-suite, business-oriented customers, was the solution. https://agbrief.com/intel/face-to-fa...

 jul23 The evolution of Macau to a more leisure and  MICE destination  will take time, likely much longer than the current  10-year concession  period,  CBRE Equity Research  said in a note, indicating that this is in part due to limited infrastructure, a lack of skilled labor, and lack of developable land. “The biggest transportation infrastructure hurdle for Macau is the airport, with limited direct service to cities outside of mainland China. This means Macau must rely on the Hong Kong airport and the Hong Kong-Zhuhai-Macau Bridge (HZMB).” “Although the  HZMB  has seen improved utilization since it opened in 2018, the long commute over the bridge will discourage major convention business that cannot fly directly into Macau.” The  labor shortage  issue in Macau was once again pointed out. Analysts at CBRE find that the skilled non-gaming labor shortage is accentuated. After lifting all the COVID-related restrictions this year, une...

 julho23 Authorities in Macau have announced that they’re rolling out a series of programs to attract foreign talent to the SAR, as early as August. Speaking at a panel, heads of some of the city’s main chambers of commerce lauded the move, noting that the city has been starved for new talent for years. https://agbrief.com/intelligence/deep-dive/06/07/2023/panel-foreign-talent-essential-for-macaus-diversification-attempt/?utm_source=Asia+Gaming+Brief&utm_campaign=4cfb212e51-EMAIL_CAMPAIGN_5_19_2022_13_42_COPY_01&utm_medium=email&utm_term=0_51950b5d21-4cfb212e51-69255637&ct=t(EMAIL_CAMPAIGN_5_19_2022_13_42_COPY_01)&goal=0_51950b5d21-4cfb212e51-69255637&mc_cid=4cfb212e51&mc_eid=31e20475e6