Singapore poised to be #2
June 8th, 2011 at 2:31:36 PM
permalink
Singapore to take No. 2 gambling spot from Las Vegas
Better than expected returns means that Singapore may pass the Las Vegas strip this year in gaming revenue (not the county or the urban area).
So now Sands corporation has half of the 2nd biggest market in the world as well as a substantial portion of the biggest. Compare that to 5%-7% of the gaming revenue of the much smaller Vegas market. If they can use the new Bethlehem hotel to draw enough high rollers, I could see them dumping the Las Vegas property.
Why tie up so much capital in a property struggling to make a profit.
Better than expected returns means that Singapore may pass the Las Vegas strip this year in gaming revenue (not the county or the urban area).
So now Sands corporation has half of the 2nd biggest market in the world as well as a substantial portion of the biggest. Compare that to 5%-7% of the gaming revenue of the much smaller Vegas market. If they can use the new Bethlehem hotel to draw enough high rollers, I could see them dumping the Las Vegas property.
Why tie up so much capital in a property struggling to make a profit.
June 8th, 2011 at 2:41:01 PM
permalink
Quote: pacomartinWhy tie up so much capital in a property struggling to make a profit.
The worm will turn. The economy will eventually get better, and when it does, they will be in a great position to lead a rebounding Las Vegas market. Just need to hang on for now.
Simplicity is the ultimate sophistication - Leonardo da Vinci
October 25th, 2012 at 12:07:55 AM
permalink
Singapore is ending there 8 year experiment to provide non-stop flights from the United States. They are selling the gas guzzling planes which they had to configure with 98 seats and sell tickets for $8K roundtrip. The flight from Newark over the north pole was the longest flight by distance in the world, and the non stop from Los Angeles was the longest by flight time in the world (2nd longest by distance). The Airbus A340 went out of production last year.
The far less expensive connections via Frankfurt from New York , and via Tokyo from Los Angeles will still be available, usually for a lot less than $8K. The Tokyo connection costs you an extra 3.5 hours, but a seat is available for $1,226 round trip.
The Quantas flight on the slightly more economical Boeing 747-400ER from Sydney to Dallas is now the longest commercial flight by distance. I found a fare for as low as $2156.17 round trip.
The Johannesburg to Atlanta flight on Delta is slightly shorter distance, but 90 minutes longer.
The far less expensive connections via Frankfurt from New York , and via Tokyo from Los Angeles will still be available, usually for a lot less than $8K. The Tokyo connection costs you an extra 3.5 hours, but a seat is available for $1,226 round trip.
The Quantas flight on the slightly more economical Boeing 747-400ER from Sydney to Dallas is now the longest commercial flight by distance. I found a fare for as low as $2156.17 round trip.
The Johannesburg to Atlanta flight on Delta is slightly shorter distance, but 90 minutes longer.
October 25th, 2012 at 4:25:09 AM
permalink
Simple.Quote: pacomartinWhy tie up so much capital in a property struggling to make a profit.
Regardless of it's declining position as the #1 gaming market, if you're not in Vegas, are you really in the gaming industry?
I invented a few casino games. Info:
http://www.DaveMillerGaming.com/ —————————————————————————————————————
Superstitions are silly, childish, irrational rituals, born out of fear of the unknown. But how much does it cost to knock on wood? 😁
October 25th, 2012 at 5:51:26 AM
permalink
Quote: DJTeddyBearSimple.
Regardless of it's declining position as the #1 gaming market, if you're not in Vegas, are you really in the gaming industry?
I understand the sentiment 100%, but I'd guess their billions of Maccau and Singapore gambling dollars would let them say 'yes.' :)
Corporations aren't without flaws, but one nice thing about them is that they can focus more on the pure numbers and not be sidetracked by ego, nostalgia, etc. If Benny Binion ran Sands as a sole proprietorship they may never leave Vegas, but that actually may not be the best thing for their shareholders.
