Briefly described the essence of integrated resorts. They provide their main differences from other types of gambling business. The features of the Asian project and the prospects for this format in Europe are considered.
Content:
- General and differences of IR projects
- Integrated resorts and their special features
- IR. History, modernity, practice
- Las Vegas
- Interesting Facts
- Singapore
- Macau
- IR viability in Europe
Each market is known to have its own characteristics. Business should take them into account in his activities and, let’s say so, adapt to them. From how it will be able to enter into the market, the success of the project depends, the ability to meet the needs of the client, including unique.
In the gaming market, the most vivid example of a successful business project – integrated resorts. The project uses ground gambling institutions. It has a specific format designed to address, for the Asian gambling market (more – Login Casino).
It can be said that such solutions (integrated resort) are an Asian contribution to a business related to the game on earth, its development.
It should be noted the following. This project was created for Asia, but later received recognition in Europe and in the United States, where it was subsequently implemented, and successfully. Below will be said a few words about the viability of such business solutions in Europe.
General and differences of IR projects
Generally accepted designation of integrated resorts – IR. This is a reduction in the phrase “Integrated Resort”, which translated from English – integrated resort. Synonym for this name – “Casino Resort”. However, as if they were not called, the same project is always meant. And his name may change, which depends on the region, the country where it works, from his jurisdiction.
Abbreviation mentioned above, IR, began to use back in 2010, when the descriptions of Singapore Igor objects were given. So designated resorts (complex): Resorts World Sentosa and Marina Bay Sands. However, to develop and implement the project began to be much earlier, in the 90s, in their very beginning. One of the institutions of this type – Mgm Grand, which is located in Las Vegas.
And now in this city integrated resorts are functioning, but their main distribution is Asia. There they are more tightly focused. Why? In more detail about the reasons for such a distribution of gambling institutions of this format, we will speak below.
We still note that it is present and is successfully implemented in some other countries. For example, Brazil and Australia. And, of course, in America, as mentioned above.
Integrated resorts and their special features
Comparing integrated resorts with other gambling institutions It is necessary to note their key differences (features). Their three. Now more about each.
The first and most importantly, which distinguishes IR from other formats – integration. That is, not only gambling establishments and houses that have different directions are combined, but are included in the project non-player entertainment. In other words, the integrated resort is a certain center, where the client can not only play, but also meet with business partners, to organize a conference or participate in such, you can have a pleasant time by making a shopping, going to a concert or another cultural event, just relax. Naturally, in such a complex there should be a sufficient number of cultural and entertainment centers, hotels, restaurants, shops and the like.
New activities appear. For example, at such resorts began to actively build sports arena and structures and the thematic directories. In addition, shops and hotels are being built.
Second key feature and difference. The diverseness of IR projects allows them to increase the number of customers. The target audience is expanded by the VIP clientele, local residents (mass consumers), as well as foreigners.
Third. The scale of IP itself. Works with this format with a scope. This also applies to the budget, and the components of the project:
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taxes;
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jobs and their creation;
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squares;
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Gaming equipment, its quantity, quality and diversity.
The question arises: why this project so successfully develops so successfully? Everything is very simple. Residents of this part of the world in their mentality – collectivists. It is laid in Asian culture.
Collectivism and conservatism are inherent in most Asian countries. Unlike Europeans, as well as residents of the United States, which in the game, first of all, are looking for the opportunity to forget, tear away, say so. From everyuality, Asians are primarily configured to receive pleasure. And not one person, and everyone, with whom he, in this case, is on the project. For example, all members of his family.
And the integrated resort and built so that all visitors are satisfied with the stay in it. Everyone for his interests:
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Children – attractions, as well as parks and t.D.;
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Women – shopping, shopping;
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Game – Men.
IR. History, modernity, practice
Let’s see how integrated resorts earn, we’ll figure it out in the main functionality IR. To do this, briefly review with their history from the moment of origin to our time. And let’s start our acquaintance from the cradle of the game business, from the place that is considered to be its center. so,
Las Vegas
Playing soul. Azart – his earnings. You can’t argue with it. The whole story, as in the past century, and in our days, is inextricably with the game.
Legalized her here back in 1931. And in 1941, gambling institutions began to be grouped, and actively, since the managers of gambling houses became clear that the more diverse types of activity, the greater the institutions of customers. Artists began to act in the casino, including those famous. Places began to appear for the entertainment of people of many different ages and interests, including children for whom attractions and thematic parks were built.
The place of their highest concentration and association is known as the Strip. And the city itself began to actively visit tourists. In the 50s of the 20th century, it was attended by at least 8 million. tourists.
Interesting Facts
When Gambling was banned, then the organizers could be punished, and then the participants of the game, T.E. customers.
The Mirage – the first megacurt in this city. It was discovered in the distant 1898 solemnly and with pombe.
Return to The Strip. Land plot that now occupies a gambling center is huge. In addition, he has:
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90 thousand seats and rooms in hotels;
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100 thousand works in the center. 450 employees (on average);
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47 game operations;
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23 of them give 70 million. Dollars annually.
The accepted business tactics did not fail. Even in the crisis in Las Vegas, 38 million people visited (2008 data).
Interestingly, the share of gambling business in income The Strip has always decreased in 1984 – 59%, 2015 – 35%.
Singapore
Here IR was found much later, but it was in Singapore he gained wide fame. The greatest development of IR received thanks to two projects: Resorts World Sentosa and Marina Bay Sands. About them a little later.
The law adopted in 2006 and aimed at regulating the activities of gambling business in the country, also contributed to the development of integrated resorts. The essence of the law:
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raising the prestige of the country;
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The development of tourism, primarily international.
Let’s return to the above projects. From the very beginning they were planned in IR / their total cost – about 15 billion dollars.
For example, on the territory of Resorts World Sentosa hosts the thematic park called Universal Studios, and in Marina Bay Sands – 150-meter, inscribed in the landscape, swimming pool. Despite the differences, sometimes essential, the basis of each is the organization of recreation (round-the-clock), both solitary clients and family. According to the results of 2011, the GGR of the Singapore gambling business was two thirds of the income world famous The Strip.
Macau
Play in these places started another 3rd centuries ago. The modern history of the local gambling center began in 1961, when the authorities decided to turn Macau to the tourist and gambling center. And the first resort (meaning integrated) appeared in 2004. He was called – The Venetian. By 2015, there were already 36 gambling establishments. The location of the district itself turned out to be very successful, Near the PRC, than this administrative unit and took advantage of.
In Chinese society, especially in higher layers, gambling are extremely popular. However, the gambling business in the PRC is prohibited in any form: both online and on earth. He hustle stops and pursued. Therefore, the Chinese game lovers seek Macau.
According to the results of 2016 (1st quarter), 54% GGR fell on the VIP segment, where, mostly presented wealthy Chinese. GGR for 2005 – $ 6 billion, and in 2013 – already 44 billion. dollars. The Strip on income stayed behind.
Even the upheavals of 2013, associated with the slowdown in the Chinese economy, did not stop the development of gambling business in Macau. Not only gambling are developing here. For the attraction of a mass client, non-game entertainment centers are also created.
What developments not related to the game, Macau became famous? We note the STUDIO CITY project. It costs at least $ 3.2 billion. There is a ferris wheel, there is also a virtual reality zone. It is called – Batman. To date, activity in the resort:
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95% – non-game types of entertainment;
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5% – gambling.
In 2017, opened MGM Cotai. The cost of this project is 3 billion. dollars. Initially planned to make the main focus not on gambling, but on the non-game sector of the resort casino. To do this, it was assumed to create a whole chain of shops and catering enterprises (restaurants and the like). On the territory of the resort of luxury accommodation, hotels, spa salons and much more. All the ideas were successfully implemented.
IR viability in Europe
Let’s go back to Macau. It is noted that GDP is almost equal to GGR. From this circumstance should be simple conclusion: attachments in integrated resorts are not only completely paid off, but also bring significant profits.
The creation and development of such enterprises is beneficial not only Macau. Economic benefits in the creation and development of such projects exists for other regions, including Europe. But as for the latter, she has one problem.
The fact is that in Europe there is a gambling business there are already several centuries, respectively, there are traditions of his conduct. Reforming the same industry can be delayed for indefinitely for a long time and the person initially in the idea of IR interested, cool it. As a result, the idea will die and not incarnate.