***The PartyPoker.com Monthly Million is a $1 million guaranteed online poker tournament every first Sunday of the month. The next Monthly Million takes place on Sunday 1 November at 12.45 ET (17.45 GMT, 18.45 CET) and features a championship blind structure. The buy-in is $600+$40 but the diverse qualifying paths means you can join the qualifiers from as little as $1. The wide range of qualifiers includes $64+$4 daily satellites with a total of 18 seats guaranteed per day, a MEGA Friday $50+$5 satellite that guarantees 20 seats and Super Satellite Saturday qualifiers with a $32+$3 buy-in and a total of 18 seats guaranteed that day. The paths into the Monthly Million are many – check out PartyPoker.com ***
PARTYPOKER.COM INTRODUCES AUSSIE MILLIONS QUALIFIERS
DEFENDING CHAMPION STEWART SCOTT HOSTS SPECIAL TOURNAMENTS
Gibraltar – 29th October 2009 – PartyPoker.com has introduced online qualifiers for the 2010 Aussie Millions in Melbourne. Seen as one of poker’s majors, the Main Event is a highlight of the world live circuit and the leading online poker room is going completely Aussie crazy in November and December!
PartyPoker.com Australia Ambassador Stewart Scott is the defending champion and there is a chance to emulate his success in Melbourne next year. PartyPoker.com is offering the chance to win one of 25 luxury Aussie Millions main event packages. These fantastic dream trips will be up for grabs in two amazing $600+40 satellites on Sunday 13th December. One will be timed to suit Australia and New Zealand-based players with FIVE packages guaranteed worth $12,000, while the other is scheduled to give players from the rest of the world the chance to win one of 20 guaranteed packages worth $15,000.
For more information on the many paths to Melbourne, including PartyPoint and freeroll options, see PartyPoker.com Qualifiers start on Sunday 1st November - as ever PartyPoker.com provides diverse qualifying structures, which can start from as little as just $1.
PartyPoker.com ambassador Stewart Scott said: “I’ve been playing at PartyPoker.com for five years. These great packages are an amazing opportunity for other players to play in this huge tournament. Claiming the Aussie Millions title has been the highlight of my career and I’d love to see another PartyPoker.com player take the title.”
There are also a number of Stewart Scott Aussie Millions special tournaments: PartyPoker.com
The Stewart Scott Bounty Hunt
From the 1st November, Stewart will be playing in the $64+$6 Aussie Millions ANZ Friendly Satellite Qualifier at 04.05 ET (19.05 AEST) every Tuesday and Thursday. There’s a $70 bounty on Stewart’s head if a player eliminates him.
Stewart Scott Aussie Millions Specials
In these tournaments PartyPoker.com will be giving away seats to Aussie Millions qualifiers. First place will win a $640 seat, second place gets a seat at the $128 qualifier while third will claim a $70 qualifier seat. Top ranking players will also receive prize money from the buy-in pool and there’s also a $70 bounty if you’re the player who knocks Stewart out.
Stewart Scott Aussie Millions Special 1 – Sunday 15 November, 03.05 ET (19.05 AEST), buy-in $6+$1
Stewart Scott Aussie Millions Special 2 – Sunday 6 December, 03.05 ET (19.05 AEST), buy-in $6+$1
Stewart Scott Highroller Aussie Millions Invitational
One luxury $12,000 Aussie Millions package for first place, $640 seat in final qualifier on offer for the player that knocks out Stewart. This takes place on Sunday 22 November at 03.05 ET (19.05 AEST) with a $250+$20 buy-in.
Scott, 37, from Queensland, Australia, made history in January 2009 by becoming the first Australian in the modern era to take down the Aussie Millions Main Event, scooping US$1,865,724. Scott is a loyal member of PartyPoker.com’s VIP club the Palladium Lounge. He made his debut representing the leading online poker room at the PokerNews Cup in Melbourne earlier this month. Scott is married with one daughter and started life as a gourmet chef in Adelaide, with a period running a small IT business as he honed his skills online. He made his first impact on the live circuit in 2006 by winning a satellite series at SkyCity Casino in Adelaide that awarded him a $30,000 package for the WSOP Main Event. Stewart is a popular figure on the Australian poker circuit and is well known for his relaxed attitude but killer instinct at the table.
® AUSSIE MILLIONS, AUSSIE MILLIONS POKER CHAMPIONSHIP and CROWN Device and associated trade marks are trade marks of Crown Melbourne Limited. No license, affiliation, sponsorship or endorsement, is claimed, or should be inferred from the use of these trademarks here. PartyGaming is not affiliated, licensed, by, or otherwise affiliated with Crown Melbourne Limited in any way.
World Series of Poker”® and “WSOP”®, WSOPE”® are registered trade marks of Harrah’s License Company LLC. No license, affiliation, sponsorship, or endorsement is claimed, or should be inferred from the use of these trademarks here. PartyGaming is not licensed by or otherwise affiliated with Harrah’s License Company LLC or the World Series of Poker®, in any way.
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Friday, 30 October 2009
PartyPoker Introduces Aussie Millions Qualifiers - Defending Champ Stewart Scott Special Tournaments
Sunday, 25 October 2009
Platinum HD Profile
Mission Statement
To be the World's No 1 property, tourism and lifestyle online production network.
Our Aim
Platinum HD (Propvid Queensland) is a team of Cinematographers with a passion for making films that work. Anybody can shoot video. Platinum HD (Propvid Queensland) makes films people watch. Since opening in a two-car garage on the Gold Coast in 2006, PlatiumHD (Propvid Queensland) has grown to become an online TV network with offices in Broadbeach and West End, with a reach from the Sunshine Coast to Tweed Heads and a capacity to shoot anywhere, anytime. Platinum HD (Propvid Queensland) shoots seven days a week, from first light to last light. Our Crew has produced over 6,000 films on property and lifestyle in South East Queensland and have no intention of stopping anytime soon.
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To be the World's No 1 property, tourism and lifestyle online production network.
Our Aim
Platinum HD (Propvid Queensland) is a team of Cinematographers with a passion for making films that work. Anybody can shoot video. Platinum HD (Propvid Queensland) makes films people watch. Since opening in a two-car garage on the Gold Coast in 2006, PlatiumHD (Propvid Queensland) has grown to become an online TV network with offices in Broadbeach and West End, with a reach from the Sunshine Coast to Tweed Heads and a capacity to shoot anywhere, anytime. Platinum HD (Propvid Queensland) shoots seven days a week, from first light to last light. Our Crew has produced over 6,000 films on property and lifestyle in South East Queensland and have no intention of stopping anytime soon.
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Saturday, 10 October 2009
Australian Casino News Website Network Updated
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Thursday, 8 October 2009
Tsunami warning for Vanuatu, Solomons, Fiji after 7.8 earthquake - 8th October 2009
Two major quakes off Vanuatu
Tsunami warning for Pacific islands
A TSUNAMI warning has been issued in the Pacific after a 7.8-magnitude earthquake, which was quicky followed by a 7.3 tremor.
The first massive quake struck off the coast of Vanuatu at 9.03am (AEDT) and the second hit 330km north-west of Santo.
A third 6.2 quake was recorded at 10.13am, 10km deeper and 290km from Santo.
The tsunami warning covers New Zealand, Vanuatu, Solomon Islands, Nauru, PNG, Tuvalu, Fiji, New Caledonia and surrounding islands.
In Australia, the Bureau of Meteorology issued a tsunami watch for north Queensland, but it was later lifted.
Earlier today another quake struck south-east of the Sulu archipelago of the Philippines, the US Geological Survey said.
The epicentre of the 6.7 Philippines quake was located 297km south-east of Jolo on the Sulu archipelago.
Tsunami watch for Australia
The Bureau of Meteorology has issued a tsunami watch for the Great Barrier Reef offshore water areas between Yeppoon and Bowen at 8.44am (AEST).
BoM senior forecaster Geoff Doueal said the tsunami wasn't expected to make it past the Great Barrier Reef.
"The reef pretty much kills this tsunami," he said.
"So there is no real direct threat to the mainland of Queensland."
Mr Doueal said the bureau wouldn't know how big the tsunami would be - if there was one at all - until it passed the BoM's observation buoy at 9.15am (AEST).
He said the only threats were to offshore scuba divers and to the BoM's observation post on Willis Island, where the tsunami was expected to hit at 9.45am (AEST).
He said four BoM employees were the only people on Willis Island but have received "plenty of warning".
Media Man Australia Profiles
Tsunami
Coastal Directory
Travel and Tourism
Tsunami warning for Pacific islands
A TSUNAMI warning has been issued in the Pacific after a 7.8-magnitude earthquake, which was quicky followed by a 7.3 tremor.
The first massive quake struck off the coast of Vanuatu at 9.03am (AEDT) and the second hit 330km north-west of Santo.
A third 6.2 quake was recorded at 10.13am, 10km deeper and 290km from Santo.
The tsunami warning covers New Zealand, Vanuatu, Solomon Islands, Nauru, PNG, Tuvalu, Fiji, New Caledonia and surrounding islands.
In Australia, the Bureau of Meteorology issued a tsunami watch for north Queensland, but it was later lifted.
Earlier today another quake struck south-east of the Sulu archipelago of the Philippines, the US Geological Survey said.
The epicentre of the 6.7 Philippines quake was located 297km south-east of Jolo on the Sulu archipelago.
Tsunami watch for Australia
The Bureau of Meteorology has issued a tsunami watch for the Great Barrier Reef offshore water areas between Yeppoon and Bowen at 8.44am (AEST).
BoM senior forecaster Geoff Doueal said the tsunami wasn't expected to make it past the Great Barrier Reef.
"The reef pretty much kills this tsunami," he said.
"So there is no real direct threat to the mainland of Queensland."
Mr Doueal said the bureau wouldn't know how big the tsunami would be - if there was one at all - until it passed the BoM's observation buoy at 9.15am (AEST).
He said the only threats were to offshore scuba divers and to the BoM's observation post on Willis Island, where the tsunami was expected to hit at 9.45am (AEST).
He said four BoM employees were the only people on Willis Island but have received "plenty of warning".
Media Man Australia Profiles
Tsunami
Coastal Directory
Travel and Tourism
Sunday, 13 September 2009
Festival of the Winds, Bondi Beach, Sydney today
Festival of the Winds is the largest annual kite festival in Australia and is celebrating its 31st anniversary.
It is running from 11am to 4pm on Sunday 13th September at Bondi Beach, Sydney, Australia.
Websites
Waverley Council
Waverley Council Bondi Pavilion - Festival of the Winds
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It is running from 11am to 4pm on Sunday 13th September at Bondi Beach, Sydney, Australia.
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Waverley Council
Waverley Council Bondi Pavilion - Festival of the Winds
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Australia
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Monday, 7 September 2009
Macau gambling revenues hit record - 3rd September 2009
Shares of Macau casino operators rose on Thursday on reports gambling revenues in Macau rose to a new high in August, signalling a faster-than-expected recovery in the world's largest gambling market.
Shares of Galaxy Entertainment Group rose as much as 6.4 percent to a near one-month high of HK$2.39, while Melco International Development, which is owned by Macau gambling scion Lawrence Ho, rose as much as 7.1 percent to a one-week high of HK$4.95.
Macau casino revenue soared 17.2 percent to 11.27 billion patacas ($US1.41 billion) in August, compared with a year earlier, according to analyst reports citing Portuguese news agency Lusa.
The growth rate surpassed the previous record set in January 2008, when casino revenues hit 10.34 billion patacas.
Gaming revenues are expected to record an even stronger year-on-year growth rate starting in September because of the slump in the market in the same period a year ago, analysts said.
"With excitement about the upcoming IPOs as well as positive macro news flow, including the relaxation of visa restrictions and implementation of a junket commission cap, we believe there is still money to be made in the near term," said Credit Suisse analyst Gabriel Chan in a note.
U.S. casino arch rivals Las Vegas Sands and Wynn Resorts have filed for listings on the Hong Kong stock exchange, at a time when analysts are forecasting that the former Portuguese colony of Macau will recover faster than Las Vegas...
SJM Holdings, Macau gambling tycoon Stanley Ho's flagship firm, gained as much as 4.6 per cent to a one-week high of HK$3.40, while Shun Tak Holdings, which operates the ferries from Hong Kong to Macau, soared as much as 8.2 per cent to a one-week high of HK$5.66.
SJM, which already has the biggest market share of the mass-market and VIP segments, was the biggest winner in August. Its market share rose to 27 per cent in August from 23 percent a month earlier, according to Citigroup analysts.
But they added that Wynn could have lost market share to a new casino opening. Its market share fell 2 percentage points to 13 per cent in August, placing it slightly ahead of MGM Mirage, which has 11 per cent, and Galaxy, with 10 per cent. (Credit: Reuters, Wires)
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Shares of Galaxy Entertainment Group rose as much as 6.4 percent to a near one-month high of HK$2.39, while Melco International Development, which is owned by Macau gambling scion Lawrence Ho, rose as much as 7.1 percent to a one-week high of HK$4.95.
Macau casino revenue soared 17.2 percent to 11.27 billion patacas ($US1.41 billion) in August, compared with a year earlier, according to analyst reports citing Portuguese news agency Lusa.
The growth rate surpassed the previous record set in January 2008, when casino revenues hit 10.34 billion patacas.
Gaming revenues are expected to record an even stronger year-on-year growth rate starting in September because of the slump in the market in the same period a year ago, analysts said.
"With excitement about the upcoming IPOs as well as positive macro news flow, including the relaxation of visa restrictions and implementation of a junket commission cap, we believe there is still money to be made in the near term," said Credit Suisse analyst Gabriel Chan in a note.
U.S. casino arch rivals Las Vegas Sands and Wynn Resorts have filed for listings on the Hong Kong stock exchange, at a time when analysts are forecasting that the former Portuguese colony of Macau will recover faster than Las Vegas...
SJM Holdings, Macau gambling tycoon Stanley Ho's flagship firm, gained as much as 4.6 per cent to a one-week high of HK$3.40, while Shun Tak Holdings, which operates the ferries from Hong Kong to Macau, soared as much as 8.2 per cent to a one-week high of HK$5.66.
SJM, which already has the biggest market share of the mass-market and VIP segments, was the biggest winner in August. Its market share rose to 27 per cent in August from 23 percent a month earlier, according to Citigroup analysts.
But they added that Wynn could have lost market share to a new casino opening. Its market share fell 2 percentage points to 13 per cent in August, placing it slightly ahead of MGM Mirage, which has 11 per cent, and Galaxy, with 10 per cent. (Credit: Reuters, Wires)
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Saturday, 5 September 2009
Richard Branson Plays Online Casino At? ... Virgin Casino From Virgin Games, by Greg Tingle
Ok, we admit, it's a headline and eyeball grabber, but hey, we're just following the lead by arguably the world's greatest publicity stunt guru, and celebrated business tycoon, Mr.. um, Sir Richard.
Sir Richard Branson has been publicly spotted at casinos a few times over the years. Most recently at The Palms in Vegas, where a stunt didn't go quite as planned, scraping the casino with his pants and hands, and fortunately escaping with his life, thus cheating death, something he's accustomed to with his planes, trains, automobiles and hot air balloons... oh, and now space ships.
Earlier this year Mr Branson was spotted with Australian media tycoon, James Packer, at the Melbourne Grand Prix, but Branson didn't try his luck at Crown, although Mr Tom Cruise (from Top Gun and Mission: Impossible fame) and family did a few months later. Branson also scored (or should that be campaigned) a cameo in Casino Royale a few years ago, if you want to include that "buy in", or gift in kind.
By the way, readers, unfortunately Australian players can't play online casino at Virgin Casino, due to technical reasons we will leave for the legal eagles, however punters can plan in person at Mr Packer's Crown Casino, TAB's Star City Casino, or online via our friends at PartyCasino.com or Captain Cooks Casino, and if poker is your poised and your based down under in Australia, try PartyPoker.com, Noble Poker or Titan Poker, and you might even quality to play at the Poker Cup at Crown Casino next month!
Aussie tongues are also wagging about the Aussie Millions coming up at Crown this January, and PartyGaming is setting the agenda on a global scale with their recent purchase of the World Poker Tour, for a cool 13 million or thereabouts.
Our friends in the national and international news media community provided more than adequate media coverage of the World Poker Tour deal, and they have been more than fair to Branson and his Virgin Group of Companies over the years also.
So, if online casino is your poison and your ISP or firewall will let you into VirginCasino.com, go for it, and if not, try the Global Gaming Directory, World Casino Directory, World Gaming Director or Multi Currency Casino, you might bypass Virgin, and end up at PartyCasino.com Mr Branson should forgive you if you have no other choice, and he might like to write to Australia's ACMA in the meantime to see if it's the Aussie great firewall playing games, or something else.
In any event, work hard and party hard, be it a Virgin, Party Casino animal, or World Poker Tour high flyer. Australia's Team Goanna and Gumleaf Mafia would be proud of the business and casino entrepreneurs efforts, and Mr Packer, CAP, Gambling911, GPWA, Poker News Daily and EGR, keep the bastards honest.
Branson, Packer, Ryan, Ayre, Garber, Weizer, Trump, Adelson, Wynn, Murdoch, Costigan... your're throw of the dice. Cheers me maties.
*Greg Tingle is the founder and director of the Media Man Australia group of companies.
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Sir Richard Branson has been publicly spotted at casinos a few times over the years. Most recently at The Palms in Vegas, where a stunt didn't go quite as planned, scraping the casino with his pants and hands, and fortunately escaping with his life, thus cheating death, something he's accustomed to with his planes, trains, automobiles and hot air balloons... oh, and now space ships.
Earlier this year Mr Branson was spotted with Australian media tycoon, James Packer, at the Melbourne Grand Prix, but Branson didn't try his luck at Crown, although Mr Tom Cruise (from Top Gun and Mission: Impossible fame) and family did a few months later. Branson also scored (or should that be campaigned) a cameo in Casino Royale a few years ago, if you want to include that "buy in", or gift in kind.
By the way, readers, unfortunately Australian players can't play online casino at Virgin Casino, due to technical reasons we will leave for the legal eagles, however punters can plan in person at Mr Packer's Crown Casino, TAB's Star City Casino, or online via our friends at PartyCasino.com or Captain Cooks Casino, and if poker is your poised and your based down under in Australia, try PartyPoker.com, Noble Poker or Titan Poker, and you might even quality to play at the Poker Cup at Crown Casino next month!
Aussie tongues are also wagging about the Aussie Millions coming up at Crown this January, and PartyGaming is setting the agenda on a global scale with their recent purchase of the World Poker Tour, for a cool 13 million or thereabouts.
Our friends in the national and international news media community provided more than adequate media coverage of the World Poker Tour deal, and they have been more than fair to Branson and his Virgin Group of Companies over the years also.
So, if online casino is your poison and your ISP or firewall will let you into VirginCasino.com, go for it, and if not, try the Global Gaming Directory, World Casino Directory, World Gaming Director or Multi Currency Casino, you might bypass Virgin, and end up at PartyCasino.com Mr Branson should forgive you if you have no other choice, and he might like to write to Australia's ACMA in the meantime to see if it's the Aussie great firewall playing games, or something else.
In any event, work hard and party hard, be it a Virgin, Party Casino animal, or World Poker Tour high flyer. Australia's Team Goanna and Gumleaf Mafia would be proud of the business and casino entrepreneurs efforts, and Mr Packer, CAP, Gambling911, GPWA, Poker News Daily and EGR, keep the bastards honest.
Branson, Packer, Ryan, Ayre, Garber, Weizer, Trump, Adelson, Wynn, Murdoch, Costigan... your're throw of the dice. Cheers me maties.
*Greg Tingle is the founder and director of the Media Man Australia group of companies.
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Friday, 4 September 2009
Travel Tourism Media Website Network Updated
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Saturday, 22 August 2009
Win 4 Nights To Richard Branson’s Exclusive Moroccan Retreat, Kasbah Tamadot
To win the holiday to Kasbah Tamadot wager £100 at Virgin Casino in August and once you've, you’ll get 1 entry into the prize draw. In addition, for every extra £100 you wager you’ll receive an additional entry.
Virgin Casino will draw two names at random on 1st September 2009
Don't forget to check out the new releases at Virgin Games: the casino classic, Rainbow Riches® Win Big Shindig™, and and Hollywood movie themed Thor's Thunder.
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Virgin Casino will draw two names at random on 1st September 2009
Don't forget to check out the new releases at Virgin Games: the casino classic, Rainbow Riches® Win Big Shindig™, and and Hollywood movie themed Thor's Thunder.
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Tuesday, 18 August 2009
Lower Fares to Australia are Coming as Virgin Spreads Its Wings From South Africa to Australia With Its Newest Airline
From Leopards and Lions to Koalas and Kangaroos
BRISBANE, Australia, August 17 -- -- Coming soon!! Sir Richard Branson's newest Australian airline to bring low fares, koalas on the aircraft wall, opera house shakers, the Southern Cross, a new airline choice and world famous Virgin service to the people of South Africa.
Sir Richard Branson, Chairman of Virgin Group, has today announced that Australia's newest international airline, V Australia, will launch direct flights between Johannesburg, South Africa and Melbourne, Australia from early next year.
V Australia launched flights between Australia and the US in February this year and has already been recognized for its exceptional in-flight product, friendly crew and unique Australiana touches. The airline is the sister carrier to Richard Branson's other long haul airline, Virgin Atlantic, which already operates flights from the United Kingdom to Johannesburg.
V Australia will begin flying between Australia and South Africa in March next year, just in time to fly hordes of fans to Johannesburg for the FIFA World Cup.
Flights from Johannesburg to Melbourne will take off on 13 March 2010 and operate twice weekly with connections to other Australian cities including Sydney and Brisbane.
Sir Richard Branson said, "I am very proud to be bringing our fresh new Aussie airline to South Africa and can't wait for it to touch down for the first time on South African soil. I know V Australia will offer true value for money, while at the same time providing a brilliant service."
He added, "I am especially pleased that it will mean lower fares to Australia and will also bring more Aussie visitors to experience the special beauty of South Africa, its people, its landscape and of course, the big five."
V Australia is part of the award winning Virgin Blue Group of Airlines, based in Australia and operates a brand new fleet of Boeing 777-300ER aircraft. The carrier offers a three class service including International Business, International Premium Economy and International Economy.
The airline was designed to offer the most comfortable, high-tech, innovative and pleasurable long haul flying experience available and does so via a range of special features from the sit-down in-flight bar, fully lie-flat beds and "privacy suite" seating options in Business Class to the complimentary thongs and salt and pepper shakers in the shape of the Sydney Opera House that are gifted to Business Class Guests.
The aircraft also features Australian animals hidden in wallpaper murals on the bathroom walls, a Ladies Only Toilet and the Southern Cross sky twinkling on the cabin roof through its innovative mood lighting system. Every V Australia Guest across all cabins is able to enjoy our "Red" individual seat back in-flight entertainment providing a wide array of films, music and games.
Sir Richard Branson continued, "The one special thing that sets Virgin airlines apart from all other airlines around the world is the people who fly our aircraft and the people who look after our Guests, whether it be in the air or on the ground and I am personally excited that travellers can now fly from Australia direct to South Africa on V Australia and then on to London with Virgin Atlantic under the great care of Virgin crew all the way."
Virgin Blue Group revolutionized air travel in the Australian market when it first launched almost 10 years ago and has been credited with providing competitive air fares, sterling service and for bringing back old fashioned fun and glamour to both domestic and international flying.
The commencement of V Australia flights to Johannesburg will mean South African travellers will be able to fly all around the world on a Virgin airline including to Australia and then across to Los Angeles on V Australia, on to New York on Virgin America, followed by a flight to London and then back to South Africa on Virgin Atlantic.
V Australia plans to announce super specials to Australia shortly, signaling a new era of air fare competition on South Africa- Australia routes.
*Subject to Government and regulatory approval.
Media Man Australia Profiles
V Australia
Virgin Enterprises Limited
Travel and Tourism
BRISBANE, Australia, August 17 -- -- Coming soon!! Sir Richard Branson's newest Australian airline to bring low fares, koalas on the aircraft wall, opera house shakers, the Southern Cross, a new airline choice and world famous Virgin service to the people of South Africa.
Sir Richard Branson, Chairman of Virgin Group, has today announced that Australia's newest international airline, V Australia, will launch direct flights between Johannesburg, South Africa and Melbourne, Australia from early next year.
V Australia launched flights between Australia and the US in February this year and has already been recognized for its exceptional in-flight product, friendly crew and unique Australiana touches. The airline is the sister carrier to Richard Branson's other long haul airline, Virgin Atlantic, which already operates flights from the United Kingdom to Johannesburg.
V Australia will begin flying between Australia and South Africa in March next year, just in time to fly hordes of fans to Johannesburg for the FIFA World Cup.
Flights from Johannesburg to Melbourne will take off on 13 March 2010 and operate twice weekly with connections to other Australian cities including Sydney and Brisbane.
Sir Richard Branson said, "I am very proud to be bringing our fresh new Aussie airline to South Africa and can't wait for it to touch down for the first time on South African soil. I know V Australia will offer true value for money, while at the same time providing a brilliant service."
He added, "I am especially pleased that it will mean lower fares to Australia and will also bring more Aussie visitors to experience the special beauty of South Africa, its people, its landscape and of course, the big five."
V Australia is part of the award winning Virgin Blue Group of Airlines, based in Australia and operates a brand new fleet of Boeing 777-300ER aircraft. The carrier offers a three class service including International Business, International Premium Economy and International Economy.
The airline was designed to offer the most comfortable, high-tech, innovative and pleasurable long haul flying experience available and does so via a range of special features from the sit-down in-flight bar, fully lie-flat beds and "privacy suite" seating options in Business Class to the complimentary thongs and salt and pepper shakers in the shape of the Sydney Opera House that are gifted to Business Class Guests.
The aircraft also features Australian animals hidden in wallpaper murals on the bathroom walls, a Ladies Only Toilet and the Southern Cross sky twinkling on the cabin roof through its innovative mood lighting system. Every V Australia Guest across all cabins is able to enjoy our "Red" individual seat back in-flight entertainment providing a wide array of films, music and games.
Sir Richard Branson continued, "The one special thing that sets Virgin airlines apart from all other airlines around the world is the people who fly our aircraft and the people who look after our Guests, whether it be in the air or on the ground and I am personally excited that travellers can now fly from Australia direct to South Africa on V Australia and then on to London with Virgin Atlantic under the great care of Virgin crew all the way."
Virgin Blue Group revolutionized air travel in the Australian market when it first launched almost 10 years ago and has been credited with providing competitive air fares, sterling service and for bringing back old fashioned fun and glamour to both domestic and international flying.
The commencement of V Australia flights to Johannesburg will mean South African travellers will be able to fly all around the world on a Virgin airline including to Australia and then across to Los Angeles on V Australia, on to New York on Virgin America, followed by a flight to London and then back to South Africa on Virgin Atlantic.
V Australia plans to announce super specials to Australia shortly, signaling a new era of air fare competition on South Africa- Australia routes.
*Subject to Government and regulatory approval.
Media Man Australia Profiles
V Australia
Virgin Enterprises Limited
Travel and Tourism
Friday, 14 August 2009
Atlantic City wants $20M a year to promote itself
ATLANTIC CITY, N.J. — Many Americans know that "What happens in Vegas stays in Vegas."
That's because the nation's largest gambling market spends hundreds of millions of dollars each year to promote itself.
But Atlantic City, the nation's second-largest gambling market, has no such luck. It has a racy slogan — "Always Turned On" — but not the money to spread it far and wide.
Struggling with the worst recession in their 31-year history and trying to hold off competitors springing up all around them, Atlantic City's 11 casinos want to spend $20 million a year to promote the oceanfront resort.
They would like New Jersey's cash-strapped state government to help, saying it would be an investment that would repay itself through increased tax revenues and contributions to statewide projects.
A spokesman for Gov. Jon Corzine's office had no immediate comment, but the state just went through a wrenching budget crisis of its own, passing a $29 billion spending plan that is $4 billion less than last year's and that eliminated popular tax rebates for some taxpayers.
Casinos also are looking for smaller sources of funding closer to home, such as diverting some luxury tax revenues or using money from a casino reinvestment panel for marketing.
The goal is to come up with a stable source of funding to get Atlantic City front and center in the nation's consciousness for years to come.
"Our job is to change perceptions of Atlantic City and bring more people here," said Jeff Vasser, president of the Atlantic City Convention & Visitors Authority. "We are in the most expensive media market in the nation, where our key customers come from — New York and Philadelphia. We also want to get into Washington and Baltimore.
"You can't do it for a short period and then be done with it," he added. "It takes a minimum of three years to make an impression and become part of public consciousness and let people know what's really happening here."
Joe Corbo, president of the Casino Association of New Jersey, said the resort needs to spend at least $20 million a year to promote itself. The convention authority's current budget is $11 million, funded mainly from a $2-a-night tax on casino hotel rooms, and $1 a night on noncasino hotels.
The association notes that Las Vegas spends nearly $250 million a year to promote itself.
Atlantic City makes about two-thirds of its money from slots, but has been losing business to new slots-only parlors in Pennsylvania and New York and because of the recession. For the first seven months of this year, Atlantic City casinos won $2.3 billion, down 14.9 percent from the same period in 2008.
But the resort is holding aces. It has gourmet restaurants, spas, shopping and luxury hotels that differentiate it from its competitors.
"There are about 30 million adults who live within a tank of gas of Atlantic City and many of them are not yet aware of the multidimensional nongaming attractions that are offered in Atlantic City," Corbo said.
Atlantic City's casinos are not in a position to finance or even contribute to an expanded marketing effort right now, casino officials say. The Three Trump casinos are in bankruptcy, the Tropicana Casino and Resort just emerged from it and Resorts Atlantic City is fighting off a foreclosure bid. The Atlantic City Hilton Casino Resort is struggling as well. (Credit: AP)
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That's because the nation's largest gambling market spends hundreds of millions of dollars each year to promote itself.
But Atlantic City, the nation's second-largest gambling market, has no such luck. It has a racy slogan — "Always Turned On" — but not the money to spread it far and wide.
Struggling with the worst recession in their 31-year history and trying to hold off competitors springing up all around them, Atlantic City's 11 casinos want to spend $20 million a year to promote the oceanfront resort.
They would like New Jersey's cash-strapped state government to help, saying it would be an investment that would repay itself through increased tax revenues and contributions to statewide projects.
A spokesman for Gov. Jon Corzine's office had no immediate comment, but the state just went through a wrenching budget crisis of its own, passing a $29 billion spending plan that is $4 billion less than last year's and that eliminated popular tax rebates for some taxpayers.
Casinos also are looking for smaller sources of funding closer to home, such as diverting some luxury tax revenues or using money from a casino reinvestment panel for marketing.
The goal is to come up with a stable source of funding to get Atlantic City front and center in the nation's consciousness for years to come.
"Our job is to change perceptions of Atlantic City and bring more people here," said Jeff Vasser, president of the Atlantic City Convention & Visitors Authority. "We are in the most expensive media market in the nation, where our key customers come from — New York and Philadelphia. We also want to get into Washington and Baltimore.
"You can't do it for a short period and then be done with it," he added. "It takes a minimum of three years to make an impression and become part of public consciousness and let people know what's really happening here."
Joe Corbo, president of the Casino Association of New Jersey, said the resort needs to spend at least $20 million a year to promote itself. The convention authority's current budget is $11 million, funded mainly from a $2-a-night tax on casino hotel rooms, and $1 a night on noncasino hotels.
The association notes that Las Vegas spends nearly $250 million a year to promote itself.
Atlantic City makes about two-thirds of its money from slots, but has been losing business to new slots-only parlors in Pennsylvania and New York and because of the recession. For the first seven months of this year, Atlantic City casinos won $2.3 billion, down 14.9 percent from the same period in 2008.
But the resort is holding aces. It has gourmet restaurants, spas, shopping and luxury hotels that differentiate it from its competitors.
"There are about 30 million adults who live within a tank of gas of Atlantic City and many of them are not yet aware of the multidimensional nongaming attractions that are offered in Atlantic City," Corbo said.
Atlantic City's casinos are not in a position to finance or even contribute to an expanded marketing effort right now, casino officials say. The Three Trump casinos are in bankruptcy, the Tropicana Casino and Resort just emerged from it and Resorts Atlantic City is fighting off a foreclosure bid. The Atlantic City Hilton Casino Resort is struggling as well. (Credit: AP)
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Wednesday, 5 August 2009
Final Chance To Win Your Macau Seat
Players hoping to win their seat into the main event of next month's Asian Poker Tour (APT) Macau Festival are being given one last chance this weekend through a series of satellites at PartyPoker.com and the iPoker Network.
This year's APT Macau Festival will run from August 12 to 23 at the Galaxy StarWorld Hotel And Casino in the former Portuguese colony with its main event featuring a buy-in set at $4,438.
However, those short of the cash for this buy-in can win their seat for next month's tournament courtesy of leading online poker site PartyPoker.com and the iPoker Network.
Last year's six-day event has been transformed into a record-breaking twelve-day extravaganza creating Asia's first festival of poker. The APT Macau Festival will also feature the largest range of side events ever seen in Asia with high-limit games and sit-and-go tables running throughout.
The APT Macau Festival will also serve as the backdrop for the first Chinese-language poker film, provisionally entitled Poker King, which is due to star A-list Chinese actors and pop stars.
"Next month's APT Macau Festival will be bigger and better with twelve days of non-stop poker action and fun," said Chris Parker, Chief Executive Officer for the APT.
"The APT Macau Festival will feature a side events schedule never seen in Asia before including several new formats that will stir the curiosity of poker enthusiasts at all levels. For those that have not yet reserved their seat to what is sure to be a very memorable event, this weekend marks the last chance for players to qualify through PartyPoker.com and the iPoker Network. Make sure you don't miss out on your APT Macau experience and the chance to win some life-changing prizes."
In 2008, the event attracted some of the most famous names in the game including Doyle Brunson, Jack Binion, Johnny Chan, John Juanda, Huck Seed, Liz Lieu, Todd Brunson, Kenny Tran and Poker Pack members Nam Le, Quinn Do, JC Tran, Steve Sung, David ‘Chino' Rheem and Kwang Soo Lee.
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This year's APT Macau Festival will run from August 12 to 23 at the Galaxy StarWorld Hotel And Casino in the former Portuguese colony with its main event featuring a buy-in set at $4,438.
However, those short of the cash for this buy-in can win their seat for next month's tournament courtesy of leading online poker site PartyPoker.com and the iPoker Network.
Last year's six-day event has been transformed into a record-breaking twelve-day extravaganza creating Asia's first festival of poker. The APT Macau Festival will also feature the largest range of side events ever seen in Asia with high-limit games and sit-and-go tables running throughout.
The APT Macau Festival will also serve as the backdrop for the first Chinese-language poker film, provisionally entitled Poker King, which is due to star A-list Chinese actors and pop stars.
"Next month's APT Macau Festival will be bigger and better with twelve days of non-stop poker action and fun," said Chris Parker, Chief Executive Officer for the APT.
"The APT Macau Festival will feature a side events schedule never seen in Asia before including several new formats that will stir the curiosity of poker enthusiasts at all levels. For those that have not yet reserved their seat to what is sure to be a very memorable event, this weekend marks the last chance for players to qualify through PartyPoker.com and the iPoker Network. Make sure you don't miss out on your APT Macau experience and the chance to win some life-changing prizes."
In 2008, the event attracted some of the most famous names in the game including Doyle Brunson, Jack Binion, Johnny Chan, John Juanda, Huck Seed, Liz Lieu, Todd Brunson, Kenny Tran and Poker Pack members Nam Le, Quinn Do, JC Tran, Steve Sung, David ‘Chino' Rheem and Kwang Soo Lee.
Full details on the upcoming APT Macau Festival can be found at AsianPT.com.
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Thursday, 30 July 2009
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Monday, 27 July 2009
Chinese casino city Macau set to anoint new leader
HONG KONG — The upcoming election of Macau's new leader offers something of a rarity in this Chinese gambling city: a sure thing.
There's one candidate, Fernando Chui, and odds are overwhelming he'll be rubber-stamped Sunday by a 300-member election panel in the former Portuguese colony's first change of leadership since its return to Chinese rule a decade ago.
But his all-but-assured victory comes at an uncertain time.
Macau is the only place in China where casinos are legal, but this world-leading gambling center has been reeling from the economic crisis.
The territory's white-hot growth has cooled as gambling revenues have fallen. With fewer visitors, hotel rooms sit empty and multibillion dollar projects have been shelved. A city that couldn't hire workers fast enough to build and staff its new resorts now faces creeping unemployment.
Chui, 52, a former culture minister from a prominent local family, has said little about his plans for the gaming industry. The industry has its own wish list, including cuts to a gambling tax they say is too high and blunts Macau's edge over lower-taxed Singapore, where new casinos are due next year.
But few expect radical changes for now. Analysts say Chui will likely maintain existing policies governing taxes, licenses and the number of gambling tables. Significant shifts would likely need Beijing's tacit approval.
"There's nothing much he can do because everything is in the pipeline," said political analyst Larry So of Macau Polytechnic Institute. "Everyone accepts gambling policy in the near future is designed to slow the industry because it grew too fast."
The incumbent, Edmund Ho, announced last year that Macau will not issue new casino licenses and approve new applications for additional gambling tables or slot machines in the near future.
However, there are hopes that Chui's election might lead Beijing, as a goodwill gesture to a new administration, to end visa restrictions that curb visits by mainland Chinese, Macau's biggest customers by far. The rules were imposed last year by China — in what was seen as an attempt to cool the local economy — stop government officials from gambling and control money laundering. They are often blamed for sliding revenue growth.
Chui has pledged to diversify the territory's gambling-driven economy. He talks of luring more visitors with conferences, exhibitions and Macau's many cultural and historical sites.
"If I am elected, I shall take an integrated approach to development and make great efforts to promote the sustainable growth of gaming-related industries," he wrote on his campaign Web site.
Chui comes from Macau's elite. His family has sprawling business interests in property, construction, tourism and commodities. He has a doctorate in public health from the U.S., was culture minister for 10 years and served as a lawmaker before that.
He was a front-runner from the start of the race to elect a successor to Ho, who has served for 10 years.
In the nomination phase, the election commission — which is stacked with Beijing loyalists — gave Chui 286 of the 300 votes. None of the three other candidates was able to garner the minimum 50 nomination votes required to challenge him. But under the electoral rules, a poll is still required Sunday, and Chui must receive 151 votes to win his five-year term as the new chief executive — which appears to be a mere formality.
He would take office on Dec. 20 when Macau marks the 10th anniversary of its reversion to Chinese rule.
Unlike neighboring Hong Kong, Macau has a history of strong pro-China sentiment and only a token presence of pro-democracy opposition lawmakers. (Credit: AP)
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There's one candidate, Fernando Chui, and odds are overwhelming he'll be rubber-stamped Sunday by a 300-member election panel in the former Portuguese colony's first change of leadership since its return to Chinese rule a decade ago.
But his all-but-assured victory comes at an uncertain time.
Macau is the only place in China where casinos are legal, but this world-leading gambling center has been reeling from the economic crisis.
The territory's white-hot growth has cooled as gambling revenues have fallen. With fewer visitors, hotel rooms sit empty and multibillion dollar projects have been shelved. A city that couldn't hire workers fast enough to build and staff its new resorts now faces creeping unemployment.
Chui, 52, a former culture minister from a prominent local family, has said little about his plans for the gaming industry. The industry has its own wish list, including cuts to a gambling tax they say is too high and blunts Macau's edge over lower-taxed Singapore, where new casinos are due next year.
But few expect radical changes for now. Analysts say Chui will likely maintain existing policies governing taxes, licenses and the number of gambling tables. Significant shifts would likely need Beijing's tacit approval.
"There's nothing much he can do because everything is in the pipeline," said political analyst Larry So of Macau Polytechnic Institute. "Everyone accepts gambling policy in the near future is designed to slow the industry because it grew too fast."
The incumbent, Edmund Ho, announced last year that Macau will not issue new casino licenses and approve new applications for additional gambling tables or slot machines in the near future.
However, there are hopes that Chui's election might lead Beijing, as a goodwill gesture to a new administration, to end visa restrictions that curb visits by mainland Chinese, Macau's biggest customers by far. The rules were imposed last year by China — in what was seen as an attempt to cool the local economy — stop government officials from gambling and control money laundering. They are often blamed for sliding revenue growth.
Chui has pledged to diversify the territory's gambling-driven economy. He talks of luring more visitors with conferences, exhibitions and Macau's many cultural and historical sites.
"If I am elected, I shall take an integrated approach to development and make great efforts to promote the sustainable growth of gaming-related industries," he wrote on his campaign Web site.
Chui comes from Macau's elite. His family has sprawling business interests in property, construction, tourism and commodities. He has a doctorate in public health from the U.S., was culture minister for 10 years and served as a lawmaker before that.
He was a front-runner from the start of the race to elect a successor to Ho, who has served for 10 years.
In the nomination phase, the election commission — which is stacked with Beijing loyalists — gave Chui 286 of the 300 votes. None of the three other candidates was able to garner the minimum 50 nomination votes required to challenge him. But under the electoral rules, a poll is still required Sunday, and Chui must receive 151 votes to win his five-year term as the new chief executive — which appears to be a mere formality.
He would take office on Dec. 20 when Macau marks the 10th anniversary of its reversion to Chinese rule.
Unlike neighboring Hong Kong, Macau has a history of strong pro-China sentiment and only a token presence of pro-democracy opposition lawmakers. (Credit: AP)
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Wednesday, 8 July 2009
Poker push to be ranked with Melbourne Cup, GP, by Michael Warner - Herald Sun - 8th July 2009
Crown casino wants its annual Aussie Millions poker tournament given official status on the major events calendar.
Casino chiefs have confirmed they are planning a submission to the Victoria Major Events Company.
If successful, Crown could be eligible for funding under the State Government's $83 million major events cap like the Formula One Grand Prix, Australian Open tennis and Australian Masters golf.
But Crown CEO David Courtney says the casino does not want financial support -- just official recognition.
"Crown is not looking for funding or subsidy from the Government -- far from it. "But we believe the Aussie Millions meets the criteria for a major event in Victoria and we would like to see it given that status alongside the Spring Racing Carnival and the other major events here," Mr Courtney said.
The move will require final approval from a Cabinet sub-committee.
Industry sources say the casino will have little trouble demonstrating that the Aussie Millions delivers significant economic benefits to Victoria, as required under qualification criteria.
It attracts thousands of international and interstate participants and generates more than 8000 hotel room nights.
The Herald Sun revealed on Saturday that Crown has raised the first prize purse for next January's Aussie Millions to $2.5 million - making it the nation's second-biggest first prize event behind the Melbourne Cup.
Anti-gambling groups yesterday scoffed at suggestions a poker championship could offer either cultural or social benefits.
"Why don't we make Sexpo a major event as well?" the Rev Tim Costello said.
"There's a fundamental difference between a major sporting event that excites and transcends our human condition than a gambling tournament."
Australian world poker champion Joe Hachem told the Herald Sun from Las Vegas the Aussie Millions was worthy of major event status.
"It deserves the title as one of Australia's majors alongside the Australian Open, Spring Racing Carnival and F1 Grand Prix," Hachem said.
Hachem, spin king Shane Warne and a host of other Australians are in Las Vegas this week vying for the World Championship of Poker. (Credit: Herald Sun)
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Casino chiefs have confirmed they are planning a submission to the Victoria Major Events Company.
If successful, Crown could be eligible for funding under the State Government's $83 million major events cap like the Formula One Grand Prix, Australian Open tennis and Australian Masters golf.
But Crown CEO David Courtney says the casino does not want financial support -- just official recognition.
"Crown is not looking for funding or subsidy from the Government -- far from it. "But we believe the Aussie Millions meets the criteria for a major event in Victoria and we would like to see it given that status alongside the Spring Racing Carnival and the other major events here," Mr Courtney said.
The move will require final approval from a Cabinet sub-committee.
Industry sources say the casino will have little trouble demonstrating that the Aussie Millions delivers significant economic benefits to Victoria, as required under qualification criteria.
It attracts thousands of international and interstate participants and generates more than 8000 hotel room nights.
The Herald Sun revealed on Saturday that Crown has raised the first prize purse for next January's Aussie Millions to $2.5 million - making it the nation's second-biggest first prize event behind the Melbourne Cup.
Anti-gambling groups yesterday scoffed at suggestions a poker championship could offer either cultural or social benefits.
"Why don't we make Sexpo a major event as well?" the Rev Tim Costello said.
"There's a fundamental difference between a major sporting event that excites and transcends our human condition than a gambling tournament."
Australian world poker champion Joe Hachem told the Herald Sun from Las Vegas the Aussie Millions was worthy of major event status.
"It deserves the title as one of Australia's majors alongside the Australian Open, Spring Racing Carnival and F1 Grand Prix," Hachem said.
Hachem, spin king Shane Warne and a host of other Australians are in Las Vegas this week vying for the World Championship of Poker. (Credit: Herald Sun)
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Saturday, 4 July 2009
Crown Casino wants to trump Australia's richest horse race, by Michael Warner - Herald Sun - 4th July 2009
A poker tournament is looking to trump the Melbourne Cup as Australia's biggest-paying major event.
Crown casino has raised the first-prize purse for its annual "Aussie Millions" poker championships to $2.5 million, putting its main event just $800,000 short of last year's Melbourne Cup winner's cheque of $3.3 million.
And the poker prize pool will soar again in 2010 on the back of a TV series tipped to reach more than 100 million lounge rooms across the globe.
The Australian Open, offering $2 million for both men's and women's championships, now sits in third place ahead of the AFL Grand Final ($1 million) and the Australian Masters Golf ($270,000).
Podium prizes for the Albert Park Formula One Grand Prix and the Phillip Island MotoGP are minimal.
"A first prize of $2.5 million gives the Aussie Millions a status it deserves on Melbourne's major events program," Crown CEO David Courtney said yesterday.
"Crown is now sharing the limelight with some of Victoria's other major events, including the Melbourne Cup, Australian Open, and the AFL Grand Final."
The Aussie Millions, running each January in conjunction with the Australian Open, is now the world's fifth largest poker tournament and the biggest outside the US.
"Huge growth in the number of overall participants reflects the increasing popularity of the game locally and internationally," Mr Courtney said.
He said the tournament generated more than 8000 hotel-room nights across Melbourne, rivalling all other Victorian major events.
This week, Melbourne poker champ Joe Hachem and cricket legend Shane Warne are heading a band of Aussie hopefuls in Las Vegas vying for the World Championship of poker and a bumper first prize of more than $9 million. (Credit: Herald Sun).
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Crown casino has raised the first-prize purse for its annual "Aussie Millions" poker championships to $2.5 million, putting its main event just $800,000 short of last year's Melbourne Cup winner's cheque of $3.3 million.
And the poker prize pool will soar again in 2010 on the back of a TV series tipped to reach more than 100 million lounge rooms across the globe.
The Australian Open, offering $2 million for both men's and women's championships, now sits in third place ahead of the AFL Grand Final ($1 million) and the Australian Masters Golf ($270,000).
Podium prizes for the Albert Park Formula One Grand Prix and the Phillip Island MotoGP are minimal.
"A first prize of $2.5 million gives the Aussie Millions a status it deserves on Melbourne's major events program," Crown CEO David Courtney said yesterday.
"Crown is now sharing the limelight with some of Victoria's other major events, including the Melbourne Cup, Australian Open, and the AFL Grand Final."
The Aussie Millions, running each January in conjunction with the Australian Open, is now the world's fifth largest poker tournament and the biggest outside the US.
"Huge growth in the number of overall participants reflects the increasing popularity of the game locally and internationally," Mr Courtney said.
He said the tournament generated more than 8000 hotel-room nights across Melbourne, rivalling all other Victorian major events.
This week, Melbourne poker champ Joe Hachem and cricket legend Shane Warne are heading a band of Aussie hopefuls in Las Vegas vying for the World Championship of poker and a bumper first prize of more than $9 million. (Credit: Herald Sun).
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Tuesday, 30 June 2009
Royal high rollers, by Paul Edwards - Fairfax - 13th November 2008
Paul Edwards follows the trail of beautiful people - and mere mortals - to the world's most glamorous casinos.
Sometimes it seems Lady Luck has lost a few of her beauty spots. These days casinos are a dime a dozen, particularly in Victoria, where many of our pubs resound to the banal music of poker machines and the blare of racing telecasts.
A true casino conjures up visions of European royals and aristocrats - many displaced - beautiful blondes, playboys, despairing dowagers down to their last dollar and an ensemble of raffish travellers spending their days in cheap hotels and their nights in glamorous gambling palaces.
That's how Somerset Maugham and F. Scott Fitzgerald saw the world of high rollers and low losers, and it's a world that still exists if you know where to look.
The beautiful people are still there - although outnumbered by mere mortals - and while the despairing dowagers might look more like desperate housewives, nowhere else on earth will you see triumph and tragedy wrapped up in such a glitzy bundle.
Here is the rundown of the royal list when it comes to roulette, baccarat, blackjack and poker - the world's top 10 glamorous casinos:
MONTE CARLO CASINO
There may be bigger, better, more luxurious casinos, but the grande dame of Monaco still clutches her blueblood eminence with a grip nurtured by old money and new technology.
The last time I was here, the Cary Grant-lookalikes had morphed into more laid-back Brian Ferry impersonators and the Grace Kellys seemed to have turned into Paris Hiltons, but discounting the odd loudmouth who would be better positioned in his/her native land, the in-crowd would still be recognised by Graham Greene.
The casino has a stunning position - below the palace of the ruling Grimaldi family and above the harbour that shelters the floating mansions of the rich and famous. Some of Europe's most expensive and desirable real estate clings to the cliffs and the casino's interior reflects the vast wealth of this most exclusive of principalities.
The gambling palace was built in 1863 and was designed to attract the world's richest people. It still does its job, luring the kind of people who regularly dine at the nearby Louis XV, which has a wine cellar with more than 300,000 bottles, none of which costs less than $100 and many of which are more than $1000.
The casino has the inevitable poker machines in the American Room but the European Room is just for roulette, baccarat, chemin de fer and other traditional games. Then there are the private rooms for the very private people who don't want anyone to see them adding to or subtracting from their seriously vast wealth.
CLERMONT CLUB, LONDON
Addresses don't come any better than 44 Berkeley Square, Mayfair - but there's no Monopoly money changing hands here. London's conservative gambling laws decree that if you want to visit any of the city's casinos, you have to apply for membership at least a day ahead of your proposed big plunge.
I'm not sure if that rule applied to HRH Princess Margaret or 007 Roger Moore, who used to add a bit of colour to the place in the early days. The Clermont was once a Playboy Club, but these days it's the punters rather than the staff who lose their shirts. Baccarat, blackjack and the English version of roulette are played here.
The club is in a lovely old mansion that was opened as a casino by eccentric entrepreneur John Aspinall. As a sideline to gambling, Aspinall kept a private zoo for which he found it increasingly hard to get staff - perhaps because five of his keepers were killed by elephants and tigers.
This is an understated place compared with garish facilities in Las Vegas and elsewhere, and its membership includes many British bluebloods. It is understood that missing murder suspect Lord Lucan is way behind with his membership payments.
ST JAMES'S CLUB CASINO, ANTIGUA
People who know a lot about casinos say this is as good as they come. The smallish facility - just 50 gaming machines and eight tables - attracts the kind of enthusiasts who want to keep their chips high and profiles low. Most are high-fliers from the US, with Chicago and New York providing many of the players.
The American version of roulette is the star attraction here, together with blackjack and craps.
Visitors are happy if they break even - the deluxe hotel has been judged for four consecutive years as the best in the Caribbean and has a beautiful setting on a sliver of sand fringing Mamora Bay.
The gaming rooms are styled on those at Monte Carlo - all rich timbers, murals, ankle-deep carpet and a wide range of opportunities for the endless battle with Lady Luck.
The crowd here is international, with a heavy sprinkling of New Yorkers, and if your luck is in you may catch a glimpse of Antigua's most famous son, Sir Vivian Richards.
BADEN-BADEN CASINO, GERMANY
Marlene Dietrich, who knew a bit about such things, declared this was the most beautiful casino in the world. Certainly it has a distinctive style, stemming from its history spanning almost three centuries and the workmanship of Europe's greatest designers.
Baden-Baden is in the Black Forest of south-west Germany and was well known to the Romans for its mineral springs. As is common with European spa cities, the wealthy visitors wanted something to break up the long hours of bathing and drinking medicinal waters. The first mention of gambling is in advertising leaflets dated 1748. Today's casino was founded in 1824, when the Kurhaus was built.
New gaming rooms were created by architects, designers and artists from Paris, which had lost its own leading casino. Extreme opulence was built into the Winter Garden, the Red Room, the Florentine Room and the Salon Pompadour and, over the years, new rooms have been opened: the Baccarat Terrace, the American Salon and the Austrian Room.
From 1872, there was a 60-year break during which German casinos were closed - Hitler's regime reopened them.
MANDARIN ORIENTAL, MACAU
Up there with the best of them, this luxurious casino continues to flourish despite political and techno-logical changes. It has a bewildering assortment of gaming machines and sumptuous rooms housing roulette, boule, blackjack and baccarat. Macau has perhaps the widest range of casino games in the world, including fan-tan and hungry tigers - the local version of one-armed bandit.
The casino is part of the Mandarin Oriental Hotel, which is part of the glitzy Chinese enclave along the Pearl River delta. This strip is roaring ahead with competitors for the Oriental, including seven casino resorts due to open on the Cotai Strip. At last count there were 14 casinos here, attracting high rollers from Japan, China, Taiwan and other rich and developing nations.
The former Portuguese colony of Macau is now, like Hong Kong, part of China, but in many aspects it's more like Las Vegas. The Oriental may lose its position as the gambling pearl of the East when the US-funded Venetian casino resort opens, at a cost of $3 billion and with about 3000 guest rooms.
It seems there will be no shortage of punters - the mainland has well over a billion Chinese who, historically, have not been averse to chancing their luck.
CASINO METROPOL, MOSCOW
The doors never close at this big casino resort, where occupants of the 450 guest rooms are given special privileges over local punters in the fight for a place at the tables. The Metropol has 11 table games, including five-card stud, blackjack, American roulette, punto banco and poker.
There are nearly 50 licensed casinos in Moscow, including the well-named Casino Desperado, but aficionados say the Metropol still has the edge for class and service. How long this will last may depend on the whims of the Russian bureaucracy, which claims casinos are run by criminals and has started to rip out the slot machines that have sprung up in almost every public place.
Moscow's deputy mayor has stated there should be no gambling establishments at all, but the Metropol has friends in high places and brings in eagerly accepted foreign currency. Odds are it will stay.
SUN CITY, SOUTH AFRICA
Africa's premier resort, Sun City, has four major hotels: the Cabanas, Sun City Hotel, Cascades and the Palace of the Lost City. Their existence came about when Bophuthatswana was declared an independent state by the former apartheid regime and could provide entertainment such as gambling and topless revue shows, which were banned in the rest of South Africa.
Sun City is a 90-minute drive from Johannesburg and is that city's major weekend destination. Entertainers including Queen and Elton John have worked the Sun City Super Bowl, Africa's largest entertainment venue.
The Sun City Hotel was the first of the super resorts and is famous for the huge jackpots on its slot machines, with one lucky punter picking up $1.2 million.
Trying to find your machine won't be easy - there are almost 900 of them. There's also punto banco, American roulette, craps and blackjack, with reserved rooms for sky's-the-limit gamblers.
BELLAGIO, LAS VEGAS
In the modern home of garish gambling dens, the Bellagio is perhaps the best of the best. The casino is part of the amazing Bellagio resort, with its 4000 rooms and suites, 30 restaurants, bars and cafes, shops including Tiffany, Gucci, Dior and Chanel, an art gallery with originals by Picasso, Degas and Monet, and a nightly performance by Cirque du Soleil.
Bellagio is owned by MGM, one of the major players in this sizzling city, and has a Players Club offering deals on seven resorts and casinos, 100 restaurants, 10 shows, seven-day spas and salons and three golf courses. There are almost unlimited events and free promotions.
There's an enormous range of gambling machines and a spread of table games including blackjack, Caribbean stud poker, craps, keno, Let It Ride, poker, Pai Gow poker, roulette, slots, big six, baccarat and megabucks. There's also a global service offering bets on sporting events - see if you can get set on the Yarra Glen trots.
You can enjoy much of this opulence for nothing - many of the amazing public rooms are open to all comers - and if you're a guest the resort expects to take your money at the gaming tables rather than the dining version. In other words, it's surprisingly affordable.
BORGATA CASINO, ATLANTIC CITY
Atlantic City is where the players from New York and other US eastern seaboard cities go to get their gambling fix. Serious wealth mingles with the hoi polloi and although the sky is the limit to what you can spend, the Borgata offers a range of accommodation packages starting around $100 for bed and buffet breakfast.
There are 14 table games and the usual range of jangling machines. You can have a flutter on races and other sports events around the world - in fact almost everything except two-up. The Borgata is big on entertainment and coming up soon are acts including Rod Stewart and Pearl Jam.
ATLANTIS RESORT, BAHAMAS
The largest casino in the Caribbean, Atlantis has 1000 slot machines, all linked to a system that offers rewards such as accommodation discounts each time you play. The salons are over the top in design - all gold plate and blown glass - and offer both French and American roulette.
There are 18 restaurants, buffets and cafes here and a range of non-gambling activities including water sports, golf, marine eco-exhibits, theatre and escorted island tours. But gambling aside, the marine attractions are what bring the punters here - Atlantis claims the largest artificial marine habitat in the world, with 11 lagoons and an estimated 200,000 sea animals.
There's a big choice of accommodation and you'll hear stories of punters who've started off in a $500 standard room, had luck on the tables, moved into a $4000 suite, lost the lot and moved back to their original accommodation.
But then, life's a gamble, isn't it? (Credit: Fairfax)
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Sometimes it seems Lady Luck has lost a few of her beauty spots. These days casinos are a dime a dozen, particularly in Victoria, where many of our pubs resound to the banal music of poker machines and the blare of racing telecasts.
A true casino conjures up visions of European royals and aristocrats - many displaced - beautiful blondes, playboys, despairing dowagers down to their last dollar and an ensemble of raffish travellers spending their days in cheap hotels and their nights in glamorous gambling palaces.
That's how Somerset Maugham and F. Scott Fitzgerald saw the world of high rollers and low losers, and it's a world that still exists if you know where to look.
The beautiful people are still there - although outnumbered by mere mortals - and while the despairing dowagers might look more like desperate housewives, nowhere else on earth will you see triumph and tragedy wrapped up in such a glitzy bundle.
Here is the rundown of the royal list when it comes to roulette, baccarat, blackjack and poker - the world's top 10 glamorous casinos:
MONTE CARLO CASINO
There may be bigger, better, more luxurious casinos, but the grande dame of Monaco still clutches her blueblood eminence with a grip nurtured by old money and new technology.
The last time I was here, the Cary Grant-lookalikes had morphed into more laid-back Brian Ferry impersonators and the Grace Kellys seemed to have turned into Paris Hiltons, but discounting the odd loudmouth who would be better positioned in his/her native land, the in-crowd would still be recognised by Graham Greene.
The casino has a stunning position - below the palace of the ruling Grimaldi family and above the harbour that shelters the floating mansions of the rich and famous. Some of Europe's most expensive and desirable real estate clings to the cliffs and the casino's interior reflects the vast wealth of this most exclusive of principalities.
The gambling palace was built in 1863 and was designed to attract the world's richest people. It still does its job, luring the kind of people who regularly dine at the nearby Louis XV, which has a wine cellar with more than 300,000 bottles, none of which costs less than $100 and many of which are more than $1000.
The casino has the inevitable poker machines in the American Room but the European Room is just for roulette, baccarat, chemin de fer and other traditional games. Then there are the private rooms for the very private people who don't want anyone to see them adding to or subtracting from their seriously vast wealth.
CLERMONT CLUB, LONDON
Addresses don't come any better than 44 Berkeley Square, Mayfair - but there's no Monopoly money changing hands here. London's conservative gambling laws decree that if you want to visit any of the city's casinos, you have to apply for membership at least a day ahead of your proposed big plunge.
I'm not sure if that rule applied to HRH Princess Margaret or 007 Roger Moore, who used to add a bit of colour to the place in the early days. The Clermont was once a Playboy Club, but these days it's the punters rather than the staff who lose their shirts. Baccarat, blackjack and the English version of roulette are played here.
The club is in a lovely old mansion that was opened as a casino by eccentric entrepreneur John Aspinall. As a sideline to gambling, Aspinall kept a private zoo for which he found it increasingly hard to get staff - perhaps because five of his keepers were killed by elephants and tigers.
This is an understated place compared with garish facilities in Las Vegas and elsewhere, and its membership includes many British bluebloods. It is understood that missing murder suspect Lord Lucan is way behind with his membership payments.
ST JAMES'S CLUB CASINO, ANTIGUA
People who know a lot about casinos say this is as good as they come. The smallish facility - just 50 gaming machines and eight tables - attracts the kind of enthusiasts who want to keep their chips high and profiles low. Most are high-fliers from the US, with Chicago and New York providing many of the players.
The American version of roulette is the star attraction here, together with blackjack and craps.
Visitors are happy if they break even - the deluxe hotel has been judged for four consecutive years as the best in the Caribbean and has a beautiful setting on a sliver of sand fringing Mamora Bay.
The gaming rooms are styled on those at Monte Carlo - all rich timbers, murals, ankle-deep carpet and a wide range of opportunities for the endless battle with Lady Luck.
The crowd here is international, with a heavy sprinkling of New Yorkers, and if your luck is in you may catch a glimpse of Antigua's most famous son, Sir Vivian Richards.
BADEN-BADEN CASINO, GERMANY
Marlene Dietrich, who knew a bit about such things, declared this was the most beautiful casino in the world. Certainly it has a distinctive style, stemming from its history spanning almost three centuries and the workmanship of Europe's greatest designers.
Baden-Baden is in the Black Forest of south-west Germany and was well known to the Romans for its mineral springs. As is common with European spa cities, the wealthy visitors wanted something to break up the long hours of bathing and drinking medicinal waters. The first mention of gambling is in advertising leaflets dated 1748. Today's casino was founded in 1824, when the Kurhaus was built.
New gaming rooms were created by architects, designers and artists from Paris, which had lost its own leading casino. Extreme opulence was built into the Winter Garden, the Red Room, the Florentine Room and the Salon Pompadour and, over the years, new rooms have been opened: the Baccarat Terrace, the American Salon and the Austrian Room.
From 1872, there was a 60-year break during which German casinos were closed - Hitler's regime reopened them.
MANDARIN ORIENTAL, MACAU
Up there with the best of them, this luxurious casino continues to flourish despite political and techno-logical changes. It has a bewildering assortment of gaming machines and sumptuous rooms housing roulette, boule, blackjack and baccarat. Macau has perhaps the widest range of casino games in the world, including fan-tan and hungry tigers - the local version of one-armed bandit.
The casino is part of the Mandarin Oriental Hotel, which is part of the glitzy Chinese enclave along the Pearl River delta. This strip is roaring ahead with competitors for the Oriental, including seven casino resorts due to open on the Cotai Strip. At last count there were 14 casinos here, attracting high rollers from Japan, China, Taiwan and other rich and developing nations.
The former Portuguese colony of Macau is now, like Hong Kong, part of China, but in many aspects it's more like Las Vegas. The Oriental may lose its position as the gambling pearl of the East when the US-funded Venetian casino resort opens, at a cost of $3 billion and with about 3000 guest rooms.
It seems there will be no shortage of punters - the mainland has well over a billion Chinese who, historically, have not been averse to chancing their luck.
CASINO METROPOL, MOSCOW
The doors never close at this big casino resort, where occupants of the 450 guest rooms are given special privileges over local punters in the fight for a place at the tables. The Metropol has 11 table games, including five-card stud, blackjack, American roulette, punto banco and poker.
There are nearly 50 licensed casinos in Moscow, including the well-named Casino Desperado, but aficionados say the Metropol still has the edge for class and service. How long this will last may depend on the whims of the Russian bureaucracy, which claims casinos are run by criminals and has started to rip out the slot machines that have sprung up in almost every public place.
Moscow's deputy mayor has stated there should be no gambling establishments at all, but the Metropol has friends in high places and brings in eagerly accepted foreign currency. Odds are it will stay.
SUN CITY, SOUTH AFRICA
Africa's premier resort, Sun City, has four major hotels: the Cabanas, Sun City Hotel, Cascades and the Palace of the Lost City. Their existence came about when Bophuthatswana was declared an independent state by the former apartheid regime and could provide entertainment such as gambling and topless revue shows, which were banned in the rest of South Africa.
Sun City is a 90-minute drive from Johannesburg and is that city's major weekend destination. Entertainers including Queen and Elton John have worked the Sun City Super Bowl, Africa's largest entertainment venue.
The Sun City Hotel was the first of the super resorts and is famous for the huge jackpots on its slot machines, with one lucky punter picking up $1.2 million.
Trying to find your machine won't be easy - there are almost 900 of them. There's also punto banco, American roulette, craps and blackjack, with reserved rooms for sky's-the-limit gamblers.
BELLAGIO, LAS VEGAS
In the modern home of garish gambling dens, the Bellagio is perhaps the best of the best. The casino is part of the amazing Bellagio resort, with its 4000 rooms and suites, 30 restaurants, bars and cafes, shops including Tiffany, Gucci, Dior and Chanel, an art gallery with originals by Picasso, Degas and Monet, and a nightly performance by Cirque du Soleil.
Bellagio is owned by MGM, one of the major players in this sizzling city, and has a Players Club offering deals on seven resorts and casinos, 100 restaurants, 10 shows, seven-day spas and salons and three golf courses. There are almost unlimited events and free promotions.
There's an enormous range of gambling machines and a spread of table games including blackjack, Caribbean stud poker, craps, keno, Let It Ride, poker, Pai Gow poker, roulette, slots, big six, baccarat and megabucks. There's also a global service offering bets on sporting events - see if you can get set on the Yarra Glen trots.
You can enjoy much of this opulence for nothing - many of the amazing public rooms are open to all comers - and if you're a guest the resort expects to take your money at the gaming tables rather than the dining version. In other words, it's surprisingly affordable.
BORGATA CASINO, ATLANTIC CITY
Atlantic City is where the players from New York and other US eastern seaboard cities go to get their gambling fix. Serious wealth mingles with the hoi polloi and although the sky is the limit to what you can spend, the Borgata offers a range of accommodation packages starting around $100 for bed and buffet breakfast.
There are 14 table games and the usual range of jangling machines. You can have a flutter on races and other sports events around the world - in fact almost everything except two-up. The Borgata is big on entertainment and coming up soon are acts including Rod Stewart and Pearl Jam.
ATLANTIS RESORT, BAHAMAS
The largest casino in the Caribbean, Atlantis has 1000 slot machines, all linked to a system that offers rewards such as accommodation discounts each time you play. The salons are over the top in design - all gold plate and blown glass - and offer both French and American roulette.
There are 18 restaurants, buffets and cafes here and a range of non-gambling activities including water sports, golf, marine eco-exhibits, theatre and escorted island tours. But gambling aside, the marine attractions are what bring the punters here - Atlantis claims the largest artificial marine habitat in the world, with 11 lagoons and an estimated 200,000 sea animals.
There's a big choice of accommodation and you'll hear stories of punters who've started off in a $500 standard room, had luck on the tables, moved into a $4000 suite, lost the lot and moved back to their original accommodation.
But then, life's a gamble, isn't it? (Credit: Fairfax)
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Monday, 29 June 2009
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Thursday, 25 June 2009
Re-creation of Bondi Beach in London to promote Australia, by Charles Miranda - Daily Telegraph - 25th June 2009
It's a campaign meant to show there's more to Australia than just "soaps, sport and sun" - but just what, it seems, the organisers weren't too sure.
So bleary-eyed Londoners woke to a re-creation of Bondi Beach on the banks of the Thames yesterday, complete with lifesavers and sunbathers.
Whether anyone would dare to take the plunge, however, wasn't clear.
State governments and the Federal Government's Austrade yesterday began their expensive campaign to convince Britain to invest more in Australia and rediscover its industries, technology and tourism.
So 80 tonnes of sand was trucked in from Kent, in England's southeast, to bring "a little bit of Down Under" to the British Isles.
To top off the cliche, cast members from the musical Priscilla Queen of the Desert were dropped in as props as well as token lifeguards, deck chairs and surfboards.
No one wants to say how much taxpayers have had to spend on the one-week celebration of all things Australian, which also includes food and wine tasting and a summit of leading Australian and British CEOs.
But G'day UK chairman Phil Aiken said the benefits would be significant. (Credit: The Daily Telegraph)
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So bleary-eyed Londoners woke to a re-creation of Bondi Beach on the banks of the Thames yesterday, complete with lifesavers and sunbathers.
Whether anyone would dare to take the plunge, however, wasn't clear.
State governments and the Federal Government's Austrade yesterday began their expensive campaign to convince Britain to invest more in Australia and rediscover its industries, technology and tourism.
So 80 tonnes of sand was trucked in from Kent, in England's southeast, to bring "a little bit of Down Under" to the British Isles.
To top off the cliche, cast members from the musical Priscilla Queen of the Desert were dropped in as props as well as token lifeguards, deck chairs and surfboards.
No one wants to say how much taxpayers have had to spend on the one-week celebration of all things Australian, which also includes food and wine tasting and a summit of leading Australian and British CEOs.
But G'day UK chairman Phil Aiken said the benefits would be significant. (Credit: The Daily Telegraph)
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Monday, 15 June 2009
SkyCity chases the world's high-rollers, by John Drinnan - The New Zealand Herald - 15th June 2009
One of Ejaaz Dean's roles as executive manager for table games for SkyCity Entertainment is attracting big-spending international clients to casinos here and in Australia.
But the 24-year industry veteran says the company would get nowhere if it mainly focused on the really big spenders - the so-called whales.
"Whales are the sexy part of the casino business.
"People want to hear about these people with millions to gamble dropping $1 million in a day - or even in an hour.
"But there are probably only 100 whales in the world and if people are bidding $50,000 a hand they could lose a million dollars very quickly. We don't really want to be in that space."
Dean joined SkyCity Entertainment 12 months ago as part of the revival and new blood under chief executive Nigel Morrison.
Because of the economic downturn international gamblers at SkyCity's casinos were down 15 per cent at the start of this year.
Dean is looking to the significant but less extravagant spenders - people who might bet, say, $5000 a hand in a game of poker.
To attract them, Dean and SkyCity provide packages including tourist jaunts, accommodation, food and entertainment.
The bid is a part of the reason for SkyCity increasing its entertainment profile in Auckland - making it a more attractive destination.
Those international clients are commonly seen as coming from Asia, but Dean is also looking closer to home.
"We are trying to get more Australians from the eastern seaboard to Auckland.
"We convince them with a three-to-five day trip and that gambling is not enough - we will say we'll take you to the Orbit Restaurant, take you to Queenstown for jetboating, or jumping off the tallest building in the Southern Hemisphere."
The big challenge, he says, is that Asian gamblers he coaxes to New Zealand literally fly over Australia to get here.
Calculating margins is a complicated part of a complex business, says Dean, who fell into the casino business by accident, wanting a break after studying mathematics and computer programming at the University of Western Australia in Perth.
He aimed to stay six months but after six months in his first job dealing poker at Perth's Burswood casino, knew he was there for the long haul.
There are fundamental differences between table game players and those who play the machines.
Tables game players like the interaction with the dealer and with the gaming community - they like there to be other players.
"The machine player likes the one on one - customer versus machine. Whatever their decision it affects them and no one else." (Credit: The New Zealand Herald)
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But the 24-year industry veteran says the company would get nowhere if it mainly focused on the really big spenders - the so-called whales.
"Whales are the sexy part of the casino business.
"People want to hear about these people with millions to gamble dropping $1 million in a day - or even in an hour.
"But there are probably only 100 whales in the world and if people are bidding $50,000 a hand they could lose a million dollars very quickly. We don't really want to be in that space."
Dean joined SkyCity Entertainment 12 months ago as part of the revival and new blood under chief executive Nigel Morrison.
Because of the economic downturn international gamblers at SkyCity's casinos were down 15 per cent at the start of this year.
Dean is looking to the significant but less extravagant spenders - people who might bet, say, $5000 a hand in a game of poker.
To attract them, Dean and SkyCity provide packages including tourist jaunts, accommodation, food and entertainment.
The bid is a part of the reason for SkyCity increasing its entertainment profile in Auckland - making it a more attractive destination.
Those international clients are commonly seen as coming from Asia, but Dean is also looking closer to home.
"We are trying to get more Australians from the eastern seaboard to Auckland.
"We convince them with a three-to-five day trip and that gambling is not enough - we will say we'll take you to the Orbit Restaurant, take you to Queenstown for jetboating, or jumping off the tallest building in the Southern Hemisphere."
The big challenge, he says, is that Asian gamblers he coaxes to New Zealand literally fly over Australia to get here.
Calculating margins is a complicated part of a complex business, says Dean, who fell into the casino business by accident, wanting a break after studying mathematics and computer programming at the University of Western Australia in Perth.
He aimed to stay six months but after six months in his first job dealing poker at Perth's Burswood casino, knew he was there for the long haul.
There are fundamental differences between table game players and those who play the machines.
Tables game players like the interaction with the dealer and with the gaming community - they like there to be other players.
"The machine player likes the one on one - customer versus machine. Whatever their decision it affects them and no one else." (Credit: The New Zealand Herald)
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Tuesday, 2 June 2009
James Packer's Macau dream rocks on, by Andrew Carswell - Herald Sun - 2nd June 2009
His fortune may have shrunk by billions of dollars but James Packer has opened the doors to what is arguably his biggest gamble yet.
Amid fanfare and fireworks, the first chips went down at the $2.9 billion City of Dreams - Mr Packer's second joint-venture casino to be built in Macau, the former Portuguese colony bordering southern China.
The increasingly reclusive billionaire stepped back into the spotlight last night to cut the ribbon to the new casino, alongside his chief partner in Melco Crown Entertainment, Lawrence Ho.
Christening one of its centrepieces, the Hard Rock Hotel, Mr Packer and Mr Ho smashed guitars hours before last night's celebrity-studded opening bash.
The City of Dreams stares directly across Macau's glitzy Cotai Strip at the Venetian, the world's biggest casino.
The property - almost 40,000 square metres - features 2000 gaming machines and tables, three hotels, a huge shopping, restaurant and entertainment precinct, and a spectacular multi-media attraction dubbed The Bubble.
"It is a crucial project," Lawrence Ho said.
"What is good for us . . . is good for our competitors and is good for Macau."
Experts believe there is much riding on the performance of the City of Dreams.
While Mr Packer has remained tight-lipped about the forecasts for the City of Dreams, Mr Ho has been brutally honest about the high-stakes game the men are playing in the middle of a global recession.
A poor reception for it may spell "the endgame for us," Mr Ho said last month.
"The investment case (for Melco Crown) basically comes down to how City of Dreams goes, so if you want to call it a sink-or-swim moment, well I guess it is," an analyst told BusinessDaily.
"Across the road you have the Venetian. That does about $500 million a year (in pre-tax earnings). The market is generally expecting City of Dreams to do $300 million. If it does that it's a success."
Since taking his late father Kerry's fortune above $6 billion, Mr Packer's net wealth has plummeted to $3 billion in the past year as shares in his divided kingdom - Crown Ltd and Consolidated Media Holdings - halved.
He is now only ranked the sixth richest Australian.
As well as Mr Packer staking much of his fortune on the venture, City of Dreams will be seen as an all-important test case for the future of Macau's gaming industry.
A 40-minute boat ride from Hong Kong, Macau now takes more gambling dollars than Las Vegas and Atlantic City combined.
But an attempt last year to stem the flow of visitors from mainland China dealt a dud hand to casino operators and put the brakes on the growth of the industry.
Mr Packer and Mr Ho hold a licence to build a third casino in Macau, but they remain publicly uncommitted to plans as yet. (Credit: Herald Sun)
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Amid fanfare and fireworks, the first chips went down at the $2.9 billion City of Dreams - Mr Packer's second joint-venture casino to be built in Macau, the former Portuguese colony bordering southern China.
The increasingly reclusive billionaire stepped back into the spotlight last night to cut the ribbon to the new casino, alongside his chief partner in Melco Crown Entertainment, Lawrence Ho.
Christening one of its centrepieces, the Hard Rock Hotel, Mr Packer and Mr Ho smashed guitars hours before last night's celebrity-studded opening bash.
The City of Dreams stares directly across Macau's glitzy Cotai Strip at the Venetian, the world's biggest casino.
The property - almost 40,000 square metres - features 2000 gaming machines and tables, three hotels, a huge shopping, restaurant and entertainment precinct, and a spectacular multi-media attraction dubbed The Bubble.
"It is a crucial project," Lawrence Ho said.
"What is good for us . . . is good for our competitors and is good for Macau."
Experts believe there is much riding on the performance of the City of Dreams.
While Mr Packer has remained tight-lipped about the forecasts for the City of Dreams, Mr Ho has been brutally honest about the high-stakes game the men are playing in the middle of a global recession.
A poor reception for it may spell "the endgame for us," Mr Ho said last month.
"The investment case (for Melco Crown) basically comes down to how City of Dreams goes, so if you want to call it a sink-or-swim moment, well I guess it is," an analyst told BusinessDaily.
"Across the road you have the Venetian. That does about $500 million a year (in pre-tax earnings). The market is generally expecting City of Dreams to do $300 million. If it does that it's a success."
Since taking his late father Kerry's fortune above $6 billion, Mr Packer's net wealth has plummeted to $3 billion in the past year as shares in his divided kingdom - Crown Ltd and Consolidated Media Holdings - halved.
He is now only ranked the sixth richest Australian.
As well as Mr Packer staking much of his fortune on the venture, City of Dreams will be seen as an all-important test case for the future of Macau's gaming industry.
A 40-minute boat ride from Hong Kong, Macau now takes more gambling dollars than Las Vegas and Atlantic City combined.
But an attempt last year to stem the flow of visitors from mainland China dealt a dud hand to casino operators and put the brakes on the growth of the industry.
Mr Packer and Mr Ho hold a licence to build a third casino in Macau, but they remain publicly uncommitted to plans as yet. (Credit: Herald Sun)
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Monday, 1 June 2009
Packer confident of his Macau gamble - The Australian - 30th May 2009
On Monday morning, James Packer will wake up in Macau to his moment of truth.
In the 3 1/2 years since the death of his legendary father, Kerry, Packer has transformed the family empire from one focused predominantly on media into the international casinos conglomerate Crown.
Monday's opening of Macau's City of Dreams casino -- one of the Chinese territory's most opulent and expensive -- is a crucial psychological marker on whether that transformation has been successful.
One of Packer's close confidants told The Weekend Australian this week the 42-year-old "always had a real belief in Macau and he's backed his belief". "City of Dreams is the culmination of that," the friend says. "It will be the jewel in the crown, in terms of size, of all of his casinos."
But with size comes risk. Packer has bet hundreds of millions of dollars of his money -- but more importantly his reputation as a major player on the international gaming scene alongside casino legends Stanley Ho, Steve Wynn and Sheldon Adelson -- on Macau.
Packer and Stanley Ho's son, Lawrence Ho -- his partner in the Melco Crown Entertainment joint venture behind the casino -- unveiled their plans for City of Dreams in the midst of an unseemly rush to develop a new Asian Las Vegas.
But today, such developments face pretty strong headwinds. In particular, gaming revenues in Macau are under pressure as the financial crisis and restrictions on Chinese citizens travelling to the former Portuguese colony bite. Even major players, such as the Las Vegas Sands, have reportedly delayed projects. Packer's fortunes have certainly fallen in line with the global crisis, with BRW magazine this week estimating his worth at $3 billion, down from $6.1 billion this time last year and the $7.3 billion he reportedly inherited from his father.
Still, Crown shares, of which the Packer family owns 36 per cent, have rallied strongly ahead of the City of Dreams opening. The run was spurred in part by Crown's escape from a proposed $US1.75 billion ($2.2 billion) takeover of Cannery Casino Resorts in the US. But one source close to Packer describes him as "quietly confident" about the future of City of Dreams. "I think we benefited from the fact there are a hell of a lot of cranes up there on unfinished projects," he says. "It is the only big new casino opening, and it will be the only one for some time."
The importance of Monday night's spectacular opening ceremony and first few months of trading are not lost on Melco Crown finance chief Simon Dewhurst. "City of Dreams is our flagship development," he says.
"It has consumed over 60 per cent of our investment capital and it represents our first opportunity in Macau to compete for the integrated resort middle ground that represents the future for the market. The opening of CoD marks the culmination of more than six years hard work. We are taking a transformational step from being primarily a development company, to being primarily an operating company."
Crown chief Rowen Craigie agrees the opening of City of Dreams represents "a major milestone". He says: "City of Dreams will be an exciting and attractive property and will benefit from being the only major casino entertainment complex to open in Macau in 2009."
City of Dreams, on Macau's popular Cotai strip, will be Melco Crown's second in the territory, following the opening of the $US760 million Crown Macau (now the Altira Macau) in 2007.
Analysts say City of Dreams is the first casino in Macau to break the $US2billion investment threshold. Its opening will be the culmination of a process that started before Kerry Packer's death when James settled on Macau as the first focal point of his global gaming ambitions.
In November 2004, Packer struck a joint venture agreement with the Hong Kong-listed leisure and entertainment group, Melco Development, run by Lawrence Ho. While there was little concrete announced at the time, it was soon made clear the joint venture company had big plans.
Once his father died in December 2005, Packer moved quickly to transform what was then the media-driven Publishing and Broadcasting Limited into a gaming empire. This transformation was highlighted late in 2006 with the top-of-the-market sale of PBL Media -- owner of the Nine Network and ACP Magazines -- to private equity firm CVC Asia Pacific for more than $5billion, just before the value of the assets started to decline amid both structural and cyclical change.
The PBL empire was left as largely a casino-focused one, and a subsequent split of the group in 2007 saw the casino assets hived off into the new casinos group, Crown.
But the move that signalled Packer's serious intent for gaming in Macau was his joint move with Melco just three months after his father's death to buy Macau's last available casino sub-concession from Wynn, the US casino entrepreneur, for $US900 million. The move cemented Packer and Ho as major players at the table of Macau's casino industry.
Altira Macau and City of Dreams are now held through Melco Crown Entertainment, which is listed on the Nasdaq index in the US and counts Crown as a 36.4 per cent shareholder.
Since 2006, Crown has also made a series of casino purchases independent of the Melco Crown venture in North America. These include stakes in the US-based Fontainebleau Resorts, Canada's Gateway Resorts group, Stations Casino Group and Harrah's Entertainment, underlining Packer's intense focus on gaming assets.
With the fall-off in casino values worldwide since the purchases, critics -- acting with the benefit of 20/20 hindsight -- have questioned the wisdom of his moves in both Macau and North America shortly before the global economic downturn. Even Crown's Rowen Craigie reportedly admitted earlier this year that the group had bought some of its US assets at the top of the market.
Crown's woes in the US were on full display in the company's interim profit result, with the group posting a reported net loss of $409.7 million due to a non-recurring $454.9 million writedown to the value of its minority US casino investments -- namely Fontainebleau, Stations and Harrah's.
But Packer's supporters assert that while there has been a fall in value of the US ventures in particular, he is well up on his Macau investments. After its $US45 million investment in Melco Crown's $US180 million capital raising this month, Crown has now invested a total of $US500 million in the group. That stake is now worth more than $US1 billion. Friends point out that Packer has effectively doubled his money and, in the process, gained a major say in a business that has two casinos fully funded, one of only six casino licences in Macau, and assorted hotels, retail complexes and entertainment venues supporting the casinos.
Melco Crown is not without problems. It booked a March quarter net loss of $US35.3 million, compared to a profit of $US43.2 million for the same period last year, prompting Ho to admit the casino market was not out of the woods yet. One analyst noted that Crown Macau had a "very poor opening" in 2007, with Packer's reputation suffering as a result. City of Dreams, he says, represents "a very critical moment".
Then again, Deutsche Bank last week raised its price target on Melco Crown from $US4.40 to $US6 a share, saying it was "now more confident on the success of City of Dreams after we walked through the property early this month".
City of Dreams certainly sounds impressive. Ho promises the water- and fantasy-themed complex will be a "next-generation resort like no other in Asia, or perhaps the world".
Located directly opposite the biggest casino in Macau -- the Las Vegas Sands Venetian Macau -- it will boast several distinctly branded casino floors, three world-class hotels and a shopping precinct to be known as The Boulevard.
On Monday, Melco Crown opens the first phase of that project, which will include the Crown Towers and Hard Rock hotels, 20 bars and restaurants, The Boulevard, plus a casino with 520 gaming tables (a third of which will be VIP) and 1350 gaming machines. It will be the only major casino to open in Macau this calendar year.
The casino's Bubble Theatre will feature a 10-minute "Dragon's Treasure" multi-media lights show. Theatre of Dreams, a 2000-seat theatre, will feature a Cirque Du Soleil-style water production when it opens in the December half. By December, the third hotel, the Grand Hyatt, will open, giving the complex a total of 1400 rooms. And there is even the future prospect of a further apartment development in the complex, subject to Macau regulatory approval. Melco's Dewhurst says Melco Crown is "very confident". He says: "We have spent a very significant amount of time, energy and resource into understanding what's working and what's not working throughout the market. We think City of Dreams is right."
Success for Melco Crown and City of Dreams will come down to a number of things. But one key measure will be foot traffic. "We expect that we will have something in the order of 35,000 guests a day passing through the property," Dewhurst says. "I have no doubt that we will have in excess of that number on the first day. In the first 100 days what's important for us is that on any of those 100 days we see that volume of traffic into the building."
In the current climate, that could be a challenge. Its performance will hinge on the recovery of the Asian economy -- and in particular how quickly Asian high-rollers return to the territory's casinos after the tough recent times.
Credit Suisse analyst Gabriel Chan said in a note last week that "with concerns about swine flu remaining vital, and signs that the recovery pace of the Chinese economy may have slowed, we see certain execution risks for the opening".
Indeed, visitor numbers to Macau, as recorded by the Statistics and Census Service, were down 3.5 per cent in April from the same period last year and steady over the previous month. Visitors from mainland China were down 13.5 per cent year on year.
Gaming revenues have suffered as a result of weaker visitor arrivals, but the pace of the decline has stabilised in the past few months. And there are hopes, from Ho down, for a swift rebound, partly driven by the buzz from the City of Dreams opening.
Some analysts believe that as Macau's most expensive casino, City of Dreams may be able to take market share from other players.
Janet Brashear, senior gaming analyst with US investment house Sanford C. Bernstein, says she expects City of Dreams to "make a splash, garnering $US1.4 billion in gross gaming revenues in 2010 and a 10 per cent share of the market". She also predicts City of Dreams could cannibalise the market share of some of its competitors in Macau, such as the Venetian Macau and Wynn resort.
For analysts, success will come down to one thing -- City of Dreams achieving an earnings before interest, tax, depreciation and amortisation of about $US300 million in the first year.
"You look across the road at the Venetian and they're doing about $US120 million EBITDA a quarter -- $US500 million a year," says one analyst. "So you would have thought $US300 million would be achievable for City of Dreams."
If City of Dreams achieves better than that -- say $US500 million a year -- then it will be a strong position against its rivals. There is growing speculation that casino giant MGM may have to sell its Macau interests after US regulators raised concerns about its local joint venture partner, Pansy Ho -- the daughter of Stanley and brother of Lawrence. Las Vegas Sands is also looking to sell some plots.
One close Packer confidant is hedging his bets ahead of Monday's event. He says: "On the assumption that the Macau economy will start to improve, Melco and City of Dreams are going to be in a very good place." (The Australian)
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In the 3 1/2 years since the death of his legendary father, Kerry, Packer has transformed the family empire from one focused predominantly on media into the international casinos conglomerate Crown.
Monday's opening of Macau's City of Dreams casino -- one of the Chinese territory's most opulent and expensive -- is a crucial psychological marker on whether that transformation has been successful.
One of Packer's close confidants told The Weekend Australian this week the 42-year-old "always had a real belief in Macau and he's backed his belief". "City of Dreams is the culmination of that," the friend says. "It will be the jewel in the crown, in terms of size, of all of his casinos."
But with size comes risk. Packer has bet hundreds of millions of dollars of his money -- but more importantly his reputation as a major player on the international gaming scene alongside casino legends Stanley Ho, Steve Wynn and Sheldon Adelson -- on Macau.
Packer and Stanley Ho's son, Lawrence Ho -- his partner in the Melco Crown Entertainment joint venture behind the casino -- unveiled their plans for City of Dreams in the midst of an unseemly rush to develop a new Asian Las Vegas.
But today, such developments face pretty strong headwinds. In particular, gaming revenues in Macau are under pressure as the financial crisis and restrictions on Chinese citizens travelling to the former Portuguese colony bite. Even major players, such as the Las Vegas Sands, have reportedly delayed projects. Packer's fortunes have certainly fallen in line with the global crisis, with BRW magazine this week estimating his worth at $3 billion, down from $6.1 billion this time last year and the $7.3 billion he reportedly inherited from his father.
Still, Crown shares, of which the Packer family owns 36 per cent, have rallied strongly ahead of the City of Dreams opening. The run was spurred in part by Crown's escape from a proposed $US1.75 billion ($2.2 billion) takeover of Cannery Casino Resorts in the US. But one source close to Packer describes him as "quietly confident" about the future of City of Dreams. "I think we benefited from the fact there are a hell of a lot of cranes up there on unfinished projects," he says. "It is the only big new casino opening, and it will be the only one for some time."
The importance of Monday night's spectacular opening ceremony and first few months of trading are not lost on Melco Crown finance chief Simon Dewhurst. "City of Dreams is our flagship development," he says.
"It has consumed over 60 per cent of our investment capital and it represents our first opportunity in Macau to compete for the integrated resort middle ground that represents the future for the market. The opening of CoD marks the culmination of more than six years hard work. We are taking a transformational step from being primarily a development company, to being primarily an operating company."
Crown chief Rowen Craigie agrees the opening of City of Dreams represents "a major milestone". He says: "City of Dreams will be an exciting and attractive property and will benefit from being the only major casino entertainment complex to open in Macau in 2009."
City of Dreams, on Macau's popular Cotai strip, will be Melco Crown's second in the territory, following the opening of the $US760 million Crown Macau (now the Altira Macau) in 2007.
Analysts say City of Dreams is the first casino in Macau to break the $US2billion investment threshold. Its opening will be the culmination of a process that started before Kerry Packer's death when James settled on Macau as the first focal point of his global gaming ambitions.
In November 2004, Packer struck a joint venture agreement with the Hong Kong-listed leisure and entertainment group, Melco Development, run by Lawrence Ho. While there was little concrete announced at the time, it was soon made clear the joint venture company had big plans.
Once his father died in December 2005, Packer moved quickly to transform what was then the media-driven Publishing and Broadcasting Limited into a gaming empire. This transformation was highlighted late in 2006 with the top-of-the-market sale of PBL Media -- owner of the Nine Network and ACP Magazines -- to private equity firm CVC Asia Pacific for more than $5billion, just before the value of the assets started to decline amid both structural and cyclical change.
The PBL empire was left as largely a casino-focused one, and a subsequent split of the group in 2007 saw the casino assets hived off into the new casinos group, Crown.
But the move that signalled Packer's serious intent for gaming in Macau was his joint move with Melco just three months after his father's death to buy Macau's last available casino sub-concession from Wynn, the US casino entrepreneur, for $US900 million. The move cemented Packer and Ho as major players at the table of Macau's casino industry.
Altira Macau and City of Dreams are now held through Melco Crown Entertainment, which is listed on the Nasdaq index in the US and counts Crown as a 36.4 per cent shareholder.
Since 2006, Crown has also made a series of casino purchases independent of the Melco Crown venture in North America. These include stakes in the US-based Fontainebleau Resorts, Canada's Gateway Resorts group, Stations Casino Group and Harrah's Entertainment, underlining Packer's intense focus on gaming assets.
With the fall-off in casino values worldwide since the purchases, critics -- acting with the benefit of 20/20 hindsight -- have questioned the wisdom of his moves in both Macau and North America shortly before the global economic downturn. Even Crown's Rowen Craigie reportedly admitted earlier this year that the group had bought some of its US assets at the top of the market.
Crown's woes in the US were on full display in the company's interim profit result, with the group posting a reported net loss of $409.7 million due to a non-recurring $454.9 million writedown to the value of its minority US casino investments -- namely Fontainebleau, Stations and Harrah's.
But Packer's supporters assert that while there has been a fall in value of the US ventures in particular, he is well up on his Macau investments. After its $US45 million investment in Melco Crown's $US180 million capital raising this month, Crown has now invested a total of $US500 million in the group. That stake is now worth more than $US1 billion. Friends point out that Packer has effectively doubled his money and, in the process, gained a major say in a business that has two casinos fully funded, one of only six casino licences in Macau, and assorted hotels, retail complexes and entertainment venues supporting the casinos.
Melco Crown is not without problems. It booked a March quarter net loss of $US35.3 million, compared to a profit of $US43.2 million for the same period last year, prompting Ho to admit the casino market was not out of the woods yet. One analyst noted that Crown Macau had a "very poor opening" in 2007, with Packer's reputation suffering as a result. City of Dreams, he says, represents "a very critical moment".
Then again, Deutsche Bank last week raised its price target on Melco Crown from $US4.40 to $US6 a share, saying it was "now more confident on the success of City of Dreams after we walked through the property early this month".
City of Dreams certainly sounds impressive. Ho promises the water- and fantasy-themed complex will be a "next-generation resort like no other in Asia, or perhaps the world".
Located directly opposite the biggest casino in Macau -- the Las Vegas Sands Venetian Macau -- it will boast several distinctly branded casino floors, three world-class hotels and a shopping precinct to be known as The Boulevard.
On Monday, Melco Crown opens the first phase of that project, which will include the Crown Towers and Hard Rock hotels, 20 bars and restaurants, The Boulevard, plus a casino with 520 gaming tables (a third of which will be VIP) and 1350 gaming machines. It will be the only major casino to open in Macau this calendar year.
The casino's Bubble Theatre will feature a 10-minute "Dragon's Treasure" multi-media lights show. Theatre of Dreams, a 2000-seat theatre, will feature a Cirque Du Soleil-style water production when it opens in the December half. By December, the third hotel, the Grand Hyatt, will open, giving the complex a total of 1400 rooms. And there is even the future prospect of a further apartment development in the complex, subject to Macau regulatory approval. Melco's Dewhurst says Melco Crown is "very confident". He says: "We have spent a very significant amount of time, energy and resource into understanding what's working and what's not working throughout the market. We think City of Dreams is right."
Success for Melco Crown and City of Dreams will come down to a number of things. But one key measure will be foot traffic. "We expect that we will have something in the order of 35,000 guests a day passing through the property," Dewhurst says. "I have no doubt that we will have in excess of that number on the first day. In the first 100 days what's important for us is that on any of those 100 days we see that volume of traffic into the building."
In the current climate, that could be a challenge. Its performance will hinge on the recovery of the Asian economy -- and in particular how quickly Asian high-rollers return to the territory's casinos after the tough recent times.
Credit Suisse analyst Gabriel Chan said in a note last week that "with concerns about swine flu remaining vital, and signs that the recovery pace of the Chinese economy may have slowed, we see certain execution risks for the opening".
Indeed, visitor numbers to Macau, as recorded by the Statistics and Census Service, were down 3.5 per cent in April from the same period last year and steady over the previous month. Visitors from mainland China were down 13.5 per cent year on year.
Gaming revenues have suffered as a result of weaker visitor arrivals, but the pace of the decline has stabilised in the past few months. And there are hopes, from Ho down, for a swift rebound, partly driven by the buzz from the City of Dreams opening.
Some analysts believe that as Macau's most expensive casino, City of Dreams may be able to take market share from other players.
Janet Brashear, senior gaming analyst with US investment house Sanford C. Bernstein, says she expects City of Dreams to "make a splash, garnering $US1.4 billion in gross gaming revenues in 2010 and a 10 per cent share of the market". She also predicts City of Dreams could cannibalise the market share of some of its competitors in Macau, such as the Venetian Macau and Wynn resort.
For analysts, success will come down to one thing -- City of Dreams achieving an earnings before interest, tax, depreciation and amortisation of about $US300 million in the first year.
"You look across the road at the Venetian and they're doing about $US120 million EBITDA a quarter -- $US500 million a year," says one analyst. "So you would have thought $US300 million would be achievable for City of Dreams."
If City of Dreams achieves better than that -- say $US500 million a year -- then it will be a strong position against its rivals. There is growing speculation that casino giant MGM may have to sell its Macau interests after US regulators raised concerns about its local joint venture partner, Pansy Ho -- the daughter of Stanley and brother of Lawrence. Las Vegas Sands is also looking to sell some plots.
One close Packer confidant is hedging his bets ahead of Monday's event. He says: "On the assumption that the Macau economy will start to improve, Melco and City of Dreams are going to be in a very good place." (The Australian)
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James Packer's biggest casino venture opens in Macau today - The Daily Telegraph - 1st June 2009
It is arguably James Packer's biggest and boldest venture, a key pillar in the man's grand plan of global gaming dominance. And it opens today.
It is the much-hyped City of Dreams, a colossal casino resort on Macau's glitzy Cotai Strip and the second instalment from Melco Crown (MPEL), the company jointly owned by Packer's Crown Limited, and Melco.
There is no disputing the fanfare with which the grandiose complex will open, but what is a hot topic is whether the venture will be a success.
The timing, amid a global meltdown and hampered by a forced slowdown of tourists entering Macau, is not helpful.
But it does have one key advantage. It is the only casino opening in Macau this year, after much-larger projects were postponed.
One gaming analyst told The Daily Telegraph the City of Dreams "was a sink or swim moment" for MPEL.
But UBS analysts believes product offering, and most surprisingly timing, will make City of Dreams a success.
"Against the context of limited supply growth, improving market revenue trends, and City of Dream's scale and product, MPEL is arguably in the right place at the right time," the analysts said in a report.
Melco Crown suffered an inglorious start to life in Macau with Crown Macau failing to attract the punters due to its location and public perceptions that the complex had Feng Shui design issues.
Recently reborn as Altira Macau, the complex has since flourished thanks to the significant revenue generated by VIP gamblers ferried in from Hong Kong.
MPEL does hold a licence to build a third casino complex in Macau, but has not committed to plans as yet. (Credit: The Daily Telegraph)
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It is the much-hyped City of Dreams, a colossal casino resort on Macau's glitzy Cotai Strip and the second instalment from Melco Crown (MPEL), the company jointly owned by Packer's Crown Limited, and Melco.
There is no disputing the fanfare with which the grandiose complex will open, but what is a hot topic is whether the venture will be a success.
The timing, amid a global meltdown and hampered by a forced slowdown of tourists entering Macau, is not helpful.
But it does have one key advantage. It is the only casino opening in Macau this year, after much-larger projects were postponed.
One gaming analyst told The Daily Telegraph the City of Dreams "was a sink or swim moment" for MPEL.
But UBS analysts believes product offering, and most surprisingly timing, will make City of Dreams a success.
"Against the context of limited supply growth, improving market revenue trends, and City of Dream's scale and product, MPEL is arguably in the right place at the right time," the analysts said in a report.
Melco Crown suffered an inglorious start to life in Macau with Crown Macau failing to attract the punters due to its location and public perceptions that the complex had Feng Shui design issues.
Recently reborn as Altira Macau, the complex has since flourished thanks to the significant revenue generated by VIP gamblers ferried in from Hong Kong.
MPEL does hold a licence to build a third casino complex in Macau, but has not committed to plans as yet. (Credit: The Daily Telegraph)
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Wednesday, 27 May 2009
Vic govt denies favours for Crown casino, by Katie Bradford - Fairfax - 27th May 2009
The Victorian government denies giving special favours to Crown casino but admits it has a close working relationship.
Two weeks after announcing it was allowing Crown to expand its gaming floor in return for increased poker machine tax, Tourism Minister Tim Holding defended the government's relationship with the casino while promoting its new hotel on Monday.
"We work closely with Crown but there's no deal in relation to this development," Mr Holding told reporters.
"Whether you're coming to dine in the magnificent restaurant, whether you want to stay in the fantastic hotel, whether you're wanting to gamble in the casino ... whatever you want to do here on site there are fantastic opportunities to do so.
"The government is very pleased that Crown is so confident in the tourism industry of Victoria that it has decided to build Australia's biggest hotel."
Anti-gambling campaigners accused the government of having a "cosy" relationship with Crown after permitting it to expand its gaming area by a further 150 tables.
In exchange, Crown's tax rate on its poker machines will progressively increase by 10 per cent to 32.5 per cent by 2014/15 - only then matching what other gaming venues already pay.
"We actually use this as an example of how Crown is being treated the same as other venues across Victoria," Mr Holding said.
Crown Melbourne's chief executive David Courtney refused to comment on his relationship with the government, or the tax deal.
"We're really here today to talk about the new hotel, it's a significant investment," he told reporters.
Under repeated questioning, Mr Courtney said it had been 10 years since Crown had been allowed to expand its gaming operations.
"It's very important to allow us to beat international competitors."
He refused to answer questions on whether the casino had a "sweetheart relationship" with the state government.
But Mr Courtney admitted the expansion would attract more high rollers.
Victorian opposition leader Ted Baillieu said the relationship between the government and the venue was "obviously very close".
He demanded the government answer further questions about the extra tables deal, including who initiated it and what the exact conditions were.
"Clearly, until these questions are being answered by the government, it ought to be very cautious about the relationship."
Mr Baillieu said Mr Holding would do "anything he believes was in his own interests".
"But that's the way this government operates, this is a government of political patronage, this is the government that's searching for favours all over the place but it's lost touch with the community, it's lost touch with reality and has no credibility on integrity, on corruption and on good governance." (Credit: Fairfax)
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Two weeks after announcing it was allowing Crown to expand its gaming floor in return for increased poker machine tax, Tourism Minister Tim Holding defended the government's relationship with the casino while promoting its new hotel on Monday.
"We work closely with Crown but there's no deal in relation to this development," Mr Holding told reporters.
"Whether you're coming to dine in the magnificent restaurant, whether you want to stay in the fantastic hotel, whether you're wanting to gamble in the casino ... whatever you want to do here on site there are fantastic opportunities to do so.
"The government is very pleased that Crown is so confident in the tourism industry of Victoria that it has decided to build Australia's biggest hotel."
Anti-gambling campaigners accused the government of having a "cosy" relationship with Crown after permitting it to expand its gaming area by a further 150 tables.
In exchange, Crown's tax rate on its poker machines will progressively increase by 10 per cent to 32.5 per cent by 2014/15 - only then matching what other gaming venues already pay.
"We actually use this as an example of how Crown is being treated the same as other venues across Victoria," Mr Holding said.
Crown Melbourne's chief executive David Courtney refused to comment on his relationship with the government, or the tax deal.
"We're really here today to talk about the new hotel, it's a significant investment," he told reporters.
Under repeated questioning, Mr Courtney said it had been 10 years since Crown had been allowed to expand its gaming operations.
"It's very important to allow us to beat international competitors."
He refused to answer questions on whether the casino had a "sweetheart relationship" with the state government.
But Mr Courtney admitted the expansion would attract more high rollers.
Victorian opposition leader Ted Baillieu said the relationship between the government and the venue was "obviously very close".
He demanded the government answer further questions about the extra tables deal, including who initiated it and what the exact conditions were.
"Clearly, until these questions are being answered by the government, it ought to be very cautious about the relationship."
Mr Baillieu said Mr Holding would do "anything he believes was in his own interests".
"But that's the way this government operates, this is a government of political patronage, this is the government that's searching for favours all over the place but it's lost touch with the community, it's lost touch with reality and has no credibility on integrity, on corruption and on good governance." (Credit: Fairfax)
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Friday, 15 May 2009
Average Australians Support Crown Casino Expansion - great for tourism, entertainment industry and having a punt! - 15th May 2009
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Branson to press case against BA-AA tie-up - 14th May 2009
WASHINGTON — Billionaire Richard Branson said Thursday a proposed tie-up of British Airways and American Airlines would threaten the survival of rivals, including his own carrier Virgin Atlantic.
The proposed tie-up of the North Atlantic operations, part of a five-airline plan awaiting approval from US authorities, "will be absolutely disastrous" for consumers, travel agents and the industry, he said.
"It will be the end of red-hot competition," the flamboyant British tycoon and head of the Virgin Group said at the National Press Club in Washington.
Branson said he was in Washington to put the finishing touches on Virgin Atlantic's "final submission" to the US Department of Transportation (DOT) to try to block the deal with BA and AMR Corporation's American Airlines.
He said the benefits touted for the deal "are illusory."
"It doesn't make sense to actually encourage even less competition by allowing the two largest dominant carriers to increase their stranglehold by setting price together and agreeing schedules."
Last year, American Airlines, British Airways and Iberia of Spain signed an agreement to cooperate over flights between North America and Europe to help them overcome soaring fuel costs, drawing fierce opposition from Branson's group.
BA, AA and Iberia are part of the 11-airline oneworld alliance, and are seeking, along with oneworld partners Finnair and Royal Jordanian, antitrust immunity from the US government on transatlantic flights.
American Airlines spokesman Ryan Mikolasik said Branson's speech and comments were "rife with overgeneralizations, hyperbole and just plain old inaccuracies."
Mikolasik said that the five partners were "simply seeking to level the playing field" with some airlines in rival alliances Star and SkyTeam that already have US antitrust immunity.
"This permission or antitrust immunity has already been granted to 10 airlines in Star and six in SkyTeam -- including the recently merged and now world's largest airline Delta," he said in an email to AFP.
He said that between them, the rivals hold more than 64 percent of the market share of European Union and US passengers.
The AA spokesman noted that the US Department of Transportation is taking comments on their application for immunity through Monday, and then will have six months to issue a ruling.
Asked about the impact of the deal on his own airline if it wins regulatory approval, Branson said: "I cannot guarantee Virgin Atlantic's survival if BA and AA are allowed to merge."
"It would be very, very difficult," he added.
Virgin Atlantic had argued against BA and AA tie-up proposals that ultimately failed in 1997 and 2001.
"Our arguments are as strong today as they were then. Their dominance has grown even further" in the key transatlantic route between the United States and London's Heathrow airport, he said.
"It's vital that regulators understand that this isn't just another alliance: it's an attempt to stitch-up the most important long-haul routes from Europe's most important airport," he said.
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The proposed tie-up of the North Atlantic operations, part of a five-airline plan awaiting approval from US authorities, "will be absolutely disastrous" for consumers, travel agents and the industry, he said.
"It will be the end of red-hot competition," the flamboyant British tycoon and head of the Virgin Group said at the National Press Club in Washington.
Branson said he was in Washington to put the finishing touches on Virgin Atlantic's "final submission" to the US Department of Transportation (DOT) to try to block the deal with BA and AMR Corporation's American Airlines.
He said the benefits touted for the deal "are illusory."
"It doesn't make sense to actually encourage even less competition by allowing the two largest dominant carriers to increase their stranglehold by setting price together and agreeing schedules."
Last year, American Airlines, British Airways and Iberia of Spain signed an agreement to cooperate over flights between North America and Europe to help them overcome soaring fuel costs, drawing fierce opposition from Branson's group.
BA, AA and Iberia are part of the 11-airline oneworld alliance, and are seeking, along with oneworld partners Finnair and Royal Jordanian, antitrust immunity from the US government on transatlantic flights.
American Airlines spokesman Ryan Mikolasik said Branson's speech and comments were "rife with overgeneralizations, hyperbole and just plain old inaccuracies."
Mikolasik said that the five partners were "simply seeking to level the playing field" with some airlines in rival alliances Star and SkyTeam that already have US antitrust immunity.
"This permission or antitrust immunity has already been granted to 10 airlines in Star and six in SkyTeam -- including the recently merged and now world's largest airline Delta," he said in an email to AFP.
He said that between them, the rivals hold more than 64 percent of the market share of European Union and US passengers.
The AA spokesman noted that the US Department of Transportation is taking comments on their application for immunity through Monday, and then will have six months to issue a ruling.
Asked about the impact of the deal on his own airline if it wins regulatory approval, Branson said: "I cannot guarantee Virgin Atlantic's survival if BA and AA are allowed to merge."
"It would be very, very difficult," he added.
Virgin Atlantic had argued against BA and AA tie-up proposals that ultimately failed in 1997 and 2001.
"Our arguments are as strong today as they were then. Their dominance has grown even further" in the key transatlantic route between the United States and London's Heathrow airport, he said.
"It's vital that regulators understand that this isn't just another alliance: it's an attempt to stitch-up the most important long-haul routes from Europe's most important airport," he said.
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Wednesday, 13 May 2009
Secret Packer deal to expand Perisher, by Andrew Clennell - The Sydney Morning Herald - 13th May 2009
After years of wrangling, the Government has reached a secret 40-year agreement with James Packer's Perisher Blue company over the lease of its Snowy Mountains ski resort, which it says will allow a developer to build a new 800-bed village.
The Premier, Nathan Rees, will announce today that 10 separate leases on the site will be amalgamated into one. But the Government and Perisher will not disclose the price of the leases, arguing the arrangement is "commercial-in-confidence".
The deal allows the Government to call for expressions of interest to develop the site of the Perisher Blue car park.
Mr Rees said last night the project would see a "capital investment of more than $112 million" and "create more than 1300 jobs during construction".
"There will also be around 400 full-time jobs at the village once completed".
The 10 leases on the site date back to when there were separate resorts such as Smiggin Holes, Blue Cow and Perisher Valley. These were amalgamated into the Perisher Blue resort in 1995.
The new agreement is for a 40-year lease with an option to extend for a further 20 years.
The vice-president of the Ski Lodges Organisation of Perisher, Smiggins and Guthega, David Read, said the development would enable the resort to compete better with Thredbo.
"We're in favour of the village because it'll breathe a bit of life into Perisher in the summer months," Mr Read said.
But the Nature Conservation Council's executive director, Cate Faehrmann, said environmental groups opposed the development. "Given climate change, we're worried about the fragile ecosystems of alpine areas."
The local MP, Steve Whan, was criticised five years ago for accepting a $700 resort pass from Perisher Blue. He said he would declare that gift when the tender for the site came before cabinet. Mr Whan said he had been involved in representations to government for the project. (Credit: The Sydney Morning Herald)
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The Premier, Nathan Rees, will announce today that 10 separate leases on the site will be amalgamated into one. But the Government and Perisher will not disclose the price of the leases, arguing the arrangement is "commercial-in-confidence".
The deal allows the Government to call for expressions of interest to develop the site of the Perisher Blue car park.
Mr Rees said last night the project would see a "capital investment of more than $112 million" and "create more than 1300 jobs during construction".
"There will also be around 400 full-time jobs at the village once completed".
The 10 leases on the site date back to when there were separate resorts such as Smiggin Holes, Blue Cow and Perisher Valley. These were amalgamated into the Perisher Blue resort in 1995.
The new agreement is for a 40-year lease with an option to extend for a further 20 years.
The vice-president of the Ski Lodges Organisation of Perisher, Smiggins and Guthega, David Read, said the development would enable the resort to compete better with Thredbo.
"We're in favour of the village because it'll breathe a bit of life into Perisher in the summer months," Mr Read said.
But the Nature Conservation Council's executive director, Cate Faehrmann, said environmental groups opposed the development. "Given climate change, we're worried about the fragile ecosystems of alpine areas."
The local MP, Steve Whan, was criticised five years ago for accepting a $700 resort pass from Perisher Blue. He said he would declare that gift when the tender for the site came before cabinet. Mr Whan said he had been involved in representations to government for the project. (Credit: The Sydney Morning Herald)
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James Packer clears way for $112m Perisher project, by Nick Tabakoff - The Australian - 13th May 2009
An agreement struck between James Packer's private company and the NSW Government will clear the way for a new $112 million village - incorporating shops, accommodation and skier facilities - to be built in what is now the Perisher Blue ski resort's car park.
The Australian understands the NSW Government will today confirm the plans for the village, after Mr Packer's private company, Consolidated Press Holdings, agreed to surrender control of the site to the Government. Under the terms of the deal, it is understood the landmark ski resort, Perisher Blue - controlled by CPH - will give up its lease on the property's 1780-space car park. The Perisher Blue parking area is the proposed site for a new village comprising retail outlets, restaurants and accommodation.
In exchange for giving up the land, Mr Packer's private company will be allowed to consolidate and extend its 10 leases covering 1200hectares of ski fields into a single consolidated mountain lease to be held by Perisher Blue for 40 years. The consolidated lease will also have a further 20-year option.
Previously the site has been under a "hodge podge" of leases expiring at different dates: some in 2025 and some in 2031.
The land is inside the Kosciuszko National Park, which is under the control of the National Parks and Wildlife Service. Consolidating the lease gives CPH the investment certainty to underpin future investments in tourism infrastructure such as snowmaking and ski lifts.
A concept plan approved in 2006 authorised the construction of up to 800 beds zoned for overnight accommodation. The Government is now expected to begin an expressions of interest process in which other parties will be invited to tender for the development.
The deal will mark the culmination of years of on-again, off-again negotiations over the car-park site and the development proposal. The village is viewed by the state Government as fundamental to improving the domestic and international appeal of Perisher and the Australian ski fields generally.
Authorities are believed to be keen to broaden Perisher's appeal as being a year-round alpine tourism destination by improving the resort's facilities and drawing tourists outside the ski season.
The Packer family has controlled Perisher Blue since the 1990s, with the resort majority owned by CPH.
There had been protracted negotiations between Perisher Blue and the state Government over the 2006 proposal to develop the village on the car-park site. These discussions subsequently broke down, after the two parties were unable to reach commercial terms on the development of the site.
Late last year, the NSW Government undertook public consultation on the proposed extension and consolidation of the leases by CPH. It is understood this process resulted in the agreement being signed before today's announcement. (Credit: The Australian)
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The Australian understands the NSW Government will today confirm the plans for the village, after Mr Packer's private company, Consolidated Press Holdings, agreed to surrender control of the site to the Government. Under the terms of the deal, it is understood the landmark ski resort, Perisher Blue - controlled by CPH - will give up its lease on the property's 1780-space car park. The Perisher Blue parking area is the proposed site for a new village comprising retail outlets, restaurants and accommodation.
In exchange for giving up the land, Mr Packer's private company will be allowed to consolidate and extend its 10 leases covering 1200hectares of ski fields into a single consolidated mountain lease to be held by Perisher Blue for 40 years. The consolidated lease will also have a further 20-year option.
Previously the site has been under a "hodge podge" of leases expiring at different dates: some in 2025 and some in 2031.
The land is inside the Kosciuszko National Park, which is under the control of the National Parks and Wildlife Service. Consolidating the lease gives CPH the investment certainty to underpin future investments in tourism infrastructure such as snowmaking and ski lifts.
A concept plan approved in 2006 authorised the construction of up to 800 beds zoned for overnight accommodation. The Government is now expected to begin an expressions of interest process in which other parties will be invited to tender for the development.
The deal will mark the culmination of years of on-again, off-again negotiations over the car-park site and the development proposal. The village is viewed by the state Government as fundamental to improving the domestic and international appeal of Perisher and the Australian ski fields generally.
Authorities are believed to be keen to broaden Perisher's appeal as being a year-round alpine tourism destination by improving the resort's facilities and drawing tourists outside the ski season.
The Packer family has controlled Perisher Blue since the 1990s, with the resort majority owned by CPH.
There had been protracted negotiations between Perisher Blue and the state Government over the 2006 proposal to develop the village on the car-park site. These discussions subsequently broke down, after the two parties were unable to reach commercial terms on the development of the site.
Late last year, the NSW Government undertook public consultation on the proposed extension and consolidation of the leases by CPH. It is understood this process resulted in the agreement being signed before today's announcement. (Credit: The Australian)
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Crown expansion plan draws fire from critics, by Sarah-Jane Collins and Jason Dowling - The Sydney Morning Herald - 13th May 2009
Crown Casino has been granted its biggest expansion in gambling capacity since opening at its Southbank location more than a decade ago, in a deal attacked yesterday by campaigners for responsible gaming.
The casino, now one of the biggest in the world, will be able to increase its number of gambling tables by more than 40 per cent to 500 tables.
"Clearly the casino is being treated as the primary and first citizen of the state, with privileges that are really a cosy deal without the rest of the community having any say," the Reverend Tim Costello said.
The Victorian Gaming Minister, Tony Robinson, said the Government had agreed with Crown to alter their licence agreement to allow for 150 extra gaming tables and an expansion of the gaming floor. In exchange, Crown will pay about 10.5 per cent extra in poker machine taxes, bringing it into line with other pokie machine operators across Victoria. The increase will be implemented in 1.7 per cent increments over six years.
"This is bringing the tax that they pay on their poker machines up to the level that is paid by other entities across the state, so it's a good deal for taxpayers," Mr Robinson said.
He said allowing the expansion would ensure Crown remained the first choice casino destination in Australia.
"If people ultimately want to have the boiled sweets experience of casinos, let them go to Sydney. If they want the rolled gold dark chocolate experience they're going to keep coming to Melbourne and we're going to ensure that."
Gary O'Neill, from Crown Casino, said the deal meant Crown would be able to keep up with growing rivals in Macau and Singapore. "The new mega complexes are very big. They will be very competitive and they will compete for the tourist dollar in this part of the world."
Mr O'Neill said the gaming floor at Crown would expand but final approval for an expansion rests with the Victorian Commission for Gambling Regulation.
Mark Zirnsak, from the Interfaith Gambling Taskforce described the expansion as appalling. "This, coming at a time when there's a global financial crisis, it's going to push more Victorians into being in hardship and vulnerable," he said.
Dr Zirnsak said the deal pointed to the "very cosy relationship between the Government and Crown".
"There's been no consultation on this expansion, which we believe there should have been, and the timing is indeed appalling," he said.
He said Crown did not need an expansion to remain competitive. "They've got a monopoly [in Victoria] and most of their patrons aren't millionaires flying in from overseas. They are locals," he said.
But he said he supported the increase in pokies taxes.
The Opposition's gaming spokesman, Michael O'Brien, said Mr Robinson had waited until budget day to announce the deal in an attempt to bury a bad decision. "Labor is clearly embarrassed by this gambling boost and tax grab, as it should be." (Credit: The Sydney Morning Herald)
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The casino, now one of the biggest in the world, will be able to increase its number of gambling tables by more than 40 per cent to 500 tables.
"Clearly the casino is being treated as the primary and first citizen of the state, with privileges that are really a cosy deal without the rest of the community having any say," the Reverend Tim Costello said.
The Victorian Gaming Minister, Tony Robinson, said the Government had agreed with Crown to alter their licence agreement to allow for 150 extra gaming tables and an expansion of the gaming floor. In exchange, Crown will pay about 10.5 per cent extra in poker machine taxes, bringing it into line with other pokie machine operators across Victoria. The increase will be implemented in 1.7 per cent increments over six years.
"This is bringing the tax that they pay on their poker machines up to the level that is paid by other entities across the state, so it's a good deal for taxpayers," Mr Robinson said.
He said allowing the expansion would ensure Crown remained the first choice casino destination in Australia.
"If people ultimately want to have the boiled sweets experience of casinos, let them go to Sydney. If they want the rolled gold dark chocolate experience they're going to keep coming to Melbourne and we're going to ensure that."
Gary O'Neill, from Crown Casino, said the deal meant Crown would be able to keep up with growing rivals in Macau and Singapore. "The new mega complexes are very big. They will be very competitive and they will compete for the tourist dollar in this part of the world."
Mr O'Neill said the gaming floor at Crown would expand but final approval for an expansion rests with the Victorian Commission for Gambling Regulation.
Mark Zirnsak, from the Interfaith Gambling Taskforce described the expansion as appalling. "This, coming at a time when there's a global financial crisis, it's going to push more Victorians into being in hardship and vulnerable," he said.
Dr Zirnsak said the deal pointed to the "very cosy relationship between the Government and Crown".
"There's been no consultation on this expansion, which we believe there should have been, and the timing is indeed appalling," he said.
He said Crown did not need an expansion to remain competitive. "They've got a monopoly [in Victoria] and most of their patrons aren't millionaires flying in from overseas. They are locals," he said.
But he said he supported the increase in pokies taxes.
The Opposition's gaming spokesman, Michael O'Brien, said Mr Robinson had waited until budget day to announce the deal in an attempt to bury a bad decision. "Labor is clearly embarrassed by this gambling boost and tax grab, as it should be." (Credit: The Sydney Morning Herald)
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Tuesday, 12 May 2009
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Thursday, 30 April 2009
Party clothes, poker face, by Mark Russell - Fairfax - 28th November 2008
Mark Russell gets a taste of what's on offer at the 14th annual Reef and Rainforest Carnivale.
The Gusman deals me a six of clubs and seven of spades. I try to look confident as I drop the cards back on the table, but my poker face has never been that good. I think I'm what professionals call an easy read. I have played this game before but, to be honest, I was never that skillful. In fact, I'm lousy.
My mates, never the most kind-hearted, knew I was a poor poker player, but, just to make sure I'd lose, they would let the cat in whenever we sat down for a game after a long night at the pub. I'm allergic to cats so it was pretty hard to focus as my eyes puffed up and the tears streamed down my face.
Anyway, here I am sitting at a poker table surrounded by gently swaying palm trees overlooking the spectacular Coral Sea at Port Douglas nervously searching for any signs of a feline presence.
Satisfied that the local cat population is busy elsewhere, I settle down to a friendly game of Limit Texas Hold-Em.
The dealer, resplendent in purple shirt and black waistcoat, introduces himself as the Gusman and ends up dealing me a straight. I rake in the chips and down another cold beer. Life is good. I like the Gusman. A lot of locals like the Gusman too. He has his own radio show and is a popular stand-up comedian in town.
The Gusman is getting in some practice on this beautiful balmy afternoon for his role as MC at the 888 Reef Shark Classic Poker Tournament, touted as "a little bit of Texas in the tropics", which will be one of the features of this year's 14th annual Reef and Rainforest Carnivale.
Organisers expect 2000 players to take part in the four-day event, which kicks off on May 23 with the aim of setting a world record for the largest number of people playing poker outdoors.
The event, to be held at the Rex Smeal Park, will be monitored by World Guinness Book of Records officials.
First prize is free entry into the Aussie Millions poker tournament (valued at $10,000) at Melbourne's Crown Casino and seven nights' accommodation. Second prize is $5000 credit with the online poker website, 888.com
Fifty trained pit bosses will supervise a cordoned-off licensed playing area with 200 tables surrounded by a large public viewing space filled with food stalls and a large screen showing all the action.
The goal for those taking part is to make it through the first three elimination rounds to the final 100 players who will battle it out at the Central Hotel for first and second prize on Saturday night, May 26.
There is no entry fee, but players must buy a $130 raffle ticket, putting them in the draw to win a trip for two to Las Vegas, including air fares and five nights' accommodation. All profits go to the Peter Crimmins Memorial Cancer Fund.
The poker game I sat down to was just one of the highlights of a recent two-day visit to Port Douglas to see what will be on offer during the 10-day Carnivale festival, starting from May 18, which is expected to attract more than 50,000 visitors from all over Australia.
One of the talking points in town during my trip was the $70,000 fishing tournament to be hosted by the Port Douglas and District Combined Club from May 18 to 27.
A lot of locals are vowing to take time off work to try to snare the tagged prized Bonanza Barramundi worth $50,000 and 20 other tagged $1000 fish which will be released in the waters around Port Douglas.
You can register for the event online at carnivale.com.au or at the venue a day before the tournament but, be warned: if you do plan to take part, competition is expected to be fierce. The entry fee is $22 per adult and $11 per child and all entrants have the chance to win an overseas fishing holiday. There will be daily prizes in various categories including best jetty-caught fish and largest fish for a species.
Carnivale will also include an It's a Wild, Wild World-theme street parade with floats and street theatre, bands and dancers, followed by a fireworks display; a food and wine festival; Australia's first international beach soccer tournament; Gourmet Gladiators - celebrity chefs battle it out for supremacy in the kitchen; the Sheraton Mirage Oceania Art Prize with $15,000 in prizes; a junior tennis tournament with tennis legend Evonne Goolagong Cawley on hand to offer a few tips; a pet parade; a music festival and rodeo; a sailing regatta; a short circuit bicycle race; a bowls tournament; a golf clinic and tournament; a fashion parade; and comedienne Klara McMurray.
Organisers also suggest that, if you have any spare time, you might think about taking a ride in a Great Barrier Reef helicopter, playing a round of golf at the Sea Temple Golf and Country Club, or maybe even chartering the luxury cruiser Phantom for a day's fishing and swimming.
Port Douglas may not be Rio de Janeiro, but it's ready to party.
Mark Russell was a guest of Mantra Resorts and Virgin Blue. (Credit: Fairfax)
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The Gusman deals me a six of clubs and seven of spades. I try to look confident as I drop the cards back on the table, but my poker face has never been that good. I think I'm what professionals call an easy read. I have played this game before but, to be honest, I was never that skillful. In fact, I'm lousy.
My mates, never the most kind-hearted, knew I was a poor poker player, but, just to make sure I'd lose, they would let the cat in whenever we sat down for a game after a long night at the pub. I'm allergic to cats so it was pretty hard to focus as my eyes puffed up and the tears streamed down my face.
Anyway, here I am sitting at a poker table surrounded by gently swaying palm trees overlooking the spectacular Coral Sea at Port Douglas nervously searching for any signs of a feline presence.
Satisfied that the local cat population is busy elsewhere, I settle down to a friendly game of Limit Texas Hold-Em.
The dealer, resplendent in purple shirt and black waistcoat, introduces himself as the Gusman and ends up dealing me a straight. I rake in the chips and down another cold beer. Life is good. I like the Gusman. A lot of locals like the Gusman too. He has his own radio show and is a popular stand-up comedian in town.
The Gusman is getting in some practice on this beautiful balmy afternoon for his role as MC at the 888 Reef Shark Classic Poker Tournament, touted as "a little bit of Texas in the tropics", which will be one of the features of this year's 14th annual Reef and Rainforest Carnivale.
Organisers expect 2000 players to take part in the four-day event, which kicks off on May 23 with the aim of setting a world record for the largest number of people playing poker outdoors.
The event, to be held at the Rex Smeal Park, will be monitored by World Guinness Book of Records officials.
First prize is free entry into the Aussie Millions poker tournament (valued at $10,000) at Melbourne's Crown Casino and seven nights' accommodation. Second prize is $5000 credit with the online poker website, 888.com
Fifty trained pit bosses will supervise a cordoned-off licensed playing area with 200 tables surrounded by a large public viewing space filled with food stalls and a large screen showing all the action.
The goal for those taking part is to make it through the first three elimination rounds to the final 100 players who will battle it out at the Central Hotel for first and second prize on Saturday night, May 26.
There is no entry fee, but players must buy a $130 raffle ticket, putting them in the draw to win a trip for two to Las Vegas, including air fares and five nights' accommodation. All profits go to the Peter Crimmins Memorial Cancer Fund.
The poker game I sat down to was just one of the highlights of a recent two-day visit to Port Douglas to see what will be on offer during the 10-day Carnivale festival, starting from May 18, which is expected to attract more than 50,000 visitors from all over Australia.
One of the talking points in town during my trip was the $70,000 fishing tournament to be hosted by the Port Douglas and District Combined Club from May 18 to 27.
A lot of locals are vowing to take time off work to try to snare the tagged prized Bonanza Barramundi worth $50,000 and 20 other tagged $1000 fish which will be released in the waters around Port Douglas.
You can register for the event online at carnivale.com.au or at the venue a day before the tournament but, be warned: if you do plan to take part, competition is expected to be fierce. The entry fee is $22 per adult and $11 per child and all entrants have the chance to win an overseas fishing holiday. There will be daily prizes in various categories including best jetty-caught fish and largest fish for a species.
Carnivale will also include an It's a Wild, Wild World-theme street parade with floats and street theatre, bands and dancers, followed by a fireworks display; a food and wine festival; Australia's first international beach soccer tournament; Gourmet Gladiators - celebrity chefs battle it out for supremacy in the kitchen; the Sheraton Mirage Oceania Art Prize with $15,000 in prizes; a junior tennis tournament with tennis legend Evonne Goolagong Cawley on hand to offer a few tips; a pet parade; a music festival and rodeo; a sailing regatta; a short circuit bicycle race; a bowls tournament; a golf clinic and tournament; a fashion parade; and comedienne Klara McMurray.
Organisers also suggest that, if you have any spare time, you might think about taking a ride in a Great Barrier Reef helicopter, playing a round of golf at the Sea Temple Golf and Country Club, or maybe even chartering the luxury cruiser Phantom for a day's fishing and swimming.
Port Douglas may not be Rio de Janeiro, but it's ready to party.
Mark Russell was a guest of Mantra Resorts and Virgin Blue. (Credit: Fairfax)
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Tuesday, 21 April 2009
Monday, 20 April 2009
Melco Crown CEO Says ‘Pressure Is On’ With New Casino (Update2), by Paul Gordon and Chia-Peck Wong - 14th April 2009
April 14 (Bloomberg) -- Melco Crown Entertainment Ltd. Chairman Lawrence Ho, son of Macau gambling tycoon Stanley Ho, said it’s “crucial” that its $2.1 billion City of Dreams casino defies the global recession and has a successful opening.
“We know the pressure is on us,” Ho said today in a Bloomberg Television interview in Macau. “The success of it will have major implications.”
Melco Crown, a joint venture between 32-year-old Ho and Australian billionaire James Packer, will open the casino in June, braving the worst global slump since World War Two and Chinese curbs on travel to Macau, the world’s biggest gambling hub. City of Dreams is located on Macau’s Cotai Strip, where Las Vegas Sands Corp. suspended construction of its partially-built gaming properties in November as credit markets seized up.
“In terms of China’s political matters, these are definitely out of our hands,” Ho said. “The bleakest days of the industry are past us, which was the fourth quarter.”
Melco Crown dropped 19 cents, or 4 percent, to $4.59 at 4:29 p.m. New York time in Nasdaq Stock Market composite trading. The company plans to raise as much as $400 million selling American Depositary Shares, it said separately in a regulatory filing yesterday.
Gambling revenue in Macau, a former Portuguese colony that is the only region in China where casinos are legal, has fallen for the past year after the mainland tightened visa rules for visitors to the city. The decline in arrivals from China has compounded the effects of the global slowdown, which has dampened demand from Taiwan and South Korea.
China Cools
Growth in China, the world’s third-biggest economy, probably cooled to the slowest in almost 10 years in the first quarter, as a global recession led to a collapse in exports. Gross domestic product grew 6.3 percent from a year earlier, according to the median estimate of 12 economists surveyed by Bloomberg News.
Macau’s economy shrank 7.6 percent in the fourth quarter of 2008 as a result, the first contraction since June 2003, according to figures compiled by Bloomberg.
Still, the decline in monthly casino revenue has moderated, dropping 6 percent in March from a year earlier to 9.5 billion patacas ($1.2 billion), from a 15.5 percent fall in February and 17 percent decrease in January, figures from the Portuguese news agency Lusa show.
Hotel occupancy rates in February also fell 2 percent from a year earlier, the smallest drop in seven months, figures from the Macau Statistics and Census Service show.
Government officials from the southern Chinese province of Guangdong, Macau and Hong Kong met in February, agreeing to enact measures allowing more mainland residents to visit the two cities. Guangdong may allow its residents to travel to Macau and Hong Kong more frequently in a policy that might be put in place before China’s week-long Labor Day holiday in May, Ming Pao reported on Feb. 20. (Credit: Bloomberg)
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“We know the pressure is on us,” Ho said today in a Bloomberg Television interview in Macau. “The success of it will have major implications.”
Melco Crown, a joint venture between 32-year-old Ho and Australian billionaire James Packer, will open the casino in June, braving the worst global slump since World War Two and Chinese curbs on travel to Macau, the world’s biggest gambling hub. City of Dreams is located on Macau’s Cotai Strip, where Las Vegas Sands Corp. suspended construction of its partially-built gaming properties in November as credit markets seized up.
“In terms of China’s political matters, these are definitely out of our hands,” Ho said. “The bleakest days of the industry are past us, which was the fourth quarter.”
Melco Crown dropped 19 cents, or 4 percent, to $4.59 at 4:29 p.m. New York time in Nasdaq Stock Market composite trading. The company plans to raise as much as $400 million selling American Depositary Shares, it said separately in a regulatory filing yesterday.
Gambling revenue in Macau, a former Portuguese colony that is the only region in China where casinos are legal, has fallen for the past year after the mainland tightened visa rules for visitors to the city. The decline in arrivals from China has compounded the effects of the global slowdown, which has dampened demand from Taiwan and South Korea.
China Cools
Growth in China, the world’s third-biggest economy, probably cooled to the slowest in almost 10 years in the first quarter, as a global recession led to a collapse in exports. Gross domestic product grew 6.3 percent from a year earlier, according to the median estimate of 12 economists surveyed by Bloomberg News.
Macau’s economy shrank 7.6 percent in the fourth quarter of 2008 as a result, the first contraction since June 2003, according to figures compiled by Bloomberg.
Still, the decline in monthly casino revenue has moderated, dropping 6 percent in March from a year earlier to 9.5 billion patacas ($1.2 billion), from a 15.5 percent fall in February and 17 percent decrease in January, figures from the Portuguese news agency Lusa show.
Hotel occupancy rates in February also fell 2 percent from a year earlier, the smallest drop in seven months, figures from the Macau Statistics and Census Service show.
Government officials from the southern Chinese province of Guangdong, Macau and Hong Kong met in February, agreeing to enact measures allowing more mainland residents to visit the two cities. Guangdong may allow its residents to travel to Macau and Hong Kong more frequently in a policy that might be put in place before China’s week-long Labor Day holiday in May, Ming Pao reported on Feb. 20. (Credit: Bloomberg)
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Saturday, 11 April 2009
Wednesday, 8 April 2009
Virgin king and Crown Casino king talk shop and Media Man makes a play
Media Man Australia and Casino News Media report Virgin's iGaming arm, Virgin Games aka Virgin Casino, is enjoying a huge comeback which can be attributed to a number of reasons.
New Virgin Games players now receive a 100% sign up bonus, which is of course double the original 50%!
New Virgin Games online slot releases include Battleship - Search & Destroy and MegaJackpots Cleopatra®. Cleopatra and Cleopatra II have long been the most popular games available on Virgin Casino and the merging with the mega popular MegaJackpots® has been an international big hit. Rumours are circulating that Dungeons and Dragons: Fortress of Fortunes will also soon be added to the already awesome Virgin Games portfolio.
Virgin boss, Richard Branson was recently spotted talking shop (or was it small talk? .. unlikely) at the Melbourne Formula One Grand Prix with none other than Australian casino king, James Packer, head of Crown Casino and a number of other casino and lifestyle businesses.
Media and iGaming analyst, Greg Tingle, has long gone on record starting that these two gentlemen might do well to get their heads together and offer a 5 star plus package for the casino whales of the world. They could pick up where Donald Trump dropped the ball. Branson's V Australia and his Virgin empire coupled with Packer's group of casinos in Melbourne, Perth, Macau, Las Vegas and elsewhere, would appear to be an excellent match. Branson is of course a fan of news media coverage whilst Packer has proved to be more media shy. Perhaps that may change if the two were to team up on a win - win venture combining the best of air travel, casinos and accommodation. It could be packaged as an ultimate travel and lifestyle experience for the whale who demands the best! The next best thing to space travel, another dynamic offering from Virgin Enterprises Limited. Tingle has wasted no time in showcasing the photo of Branson and Packer talking shop on the Media Man Australia website and has advised "We're keen to be pro actively involved in a Virgin - Crown campaign, given our proven track record with Virgin Games, Virgin Unite, air travel bookings and casino lifestyle campaigns".
Tingle is the former manager and agent for Crown Casino poker trainer and commentary, Keith "Bendigo" Sloan, so stranger things have happened. In what appears to be a strategic move Tingle has also registered Casino Travel Tourism and looks to be building his own World Casino Directory, a move tipped to compete with the original world famous online casino portal.
More details as they come to hand.
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New Virgin Games players now receive a 100% sign up bonus, which is of course double the original 50%!
New Virgin Games online slot releases include Battleship - Search & Destroy and MegaJackpots Cleopatra®. Cleopatra and Cleopatra II have long been the most popular games available on Virgin Casino and the merging with the mega popular MegaJackpots® has been an international big hit. Rumours are circulating that Dungeons and Dragons: Fortress of Fortunes will also soon be added to the already awesome Virgin Games portfolio.
Virgin boss, Richard Branson was recently spotted talking shop (or was it small talk? .. unlikely) at the Melbourne Formula One Grand Prix with none other than Australian casino king, James Packer, head of Crown Casino and a number of other casino and lifestyle businesses.
Media and iGaming analyst, Greg Tingle, has long gone on record starting that these two gentlemen might do well to get their heads together and offer a 5 star plus package for the casino whales of the world. They could pick up where Donald Trump dropped the ball. Branson's V Australia and his Virgin empire coupled with Packer's group of casinos in Melbourne, Perth, Macau, Las Vegas and elsewhere, would appear to be an excellent match. Branson is of course a fan of news media coverage whilst Packer has proved to be more media shy. Perhaps that may change if the two were to team up on a win - win venture combining the best of air travel, casinos and accommodation. It could be packaged as an ultimate travel and lifestyle experience for the whale who demands the best! The next best thing to space travel, another dynamic offering from Virgin Enterprises Limited. Tingle has wasted no time in showcasing the photo of Branson and Packer talking shop on the Media Man Australia website and has advised "We're keen to be pro actively involved in a Virgin - Crown campaign, given our proven track record with Virgin Games, Virgin Unite, air travel bookings and casino lifestyle campaigns".
Tingle is the former manager and agent for Crown Casino poker trainer and commentary, Keith "Bendigo" Sloan, so stranger things have happened. In what appears to be a strategic move Tingle has also registered Casino Travel Tourism and looks to be building his own World Casino Directory, a move tipped to compete with the original world famous online casino portal.
More details as they come to hand.
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Thursday, 2 April 2009
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Tuesday, 24 March 2009
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Friday, 6 March 2009
Tuesday, 3 March 2009
Planet Branson is an exciting place, by David Robertson - 3rd March 2009
For the past week I have been travelling around the world with possibly the most famous businessman alive today: Sir Richard Branson. I have been Passepartout to Sir Richard's Phileas Fogg as we travelled from London to Hong Kong, Sydney, Los Angeles and back again to London. We have logged more than 40 hours flying time and my body clock is now so confused I am struggling to tell night from day.
Sir Richard launched his first company at the age of 15 and has gone on to set up hundreds more in sectors as diverse and space travel, mobile phones and soft drinks.
The Virgin Group, which is the umbrella company for the numerous Virgin enterprises, has revenues of over $10 billion (Dh36.7bn) a year and Sir Richard himself has been estimated to be worth about $2bn.
Having spent a week in close proximity with Sir Richard, the most striking thing about him is that he is remarkably down to earth.
I have met chief executives from companies that are a fraction of the size of the Virgin Group who are as aloof as rock stars.
Sir Richard, by contrast, appears to enjoy meeting staff and members of the public and is constantly posing for photographs or signing autographs.
I have also discovered in the past week that despite being 58, Sir Richard is a hard man to keep up with. He jumped off our day-long London to Sydney flight and flew straight to Melbourne to open a new Virgin Active gym. He then flew back to Sydney for dinner with Cate Blanchett, the actress.
Meanwhile, Sir Richard's entourage blundered around Sydney like the living dead and had passed out by 9pm.
Our journey around the world was part of a promotional trip to publicise the launch of V Australia, Sir Richard's newest airline.
It will operate services from Sydney, Melbourne and Brisbane to Los Angeles and is the final link in Virgin's global network. Passengers can now travel around the world without leaving the Virgin family - as we have proved in the past week to the detriment of our carbon footprints.
However, the trip has also allowed Sir Richard to catch up with various other parts of the Virgin empire. Virgin Active is expanding rapidly in Australia and he opened gyms in both Melbourne and Sydney. At the Sydney opening, Sir Richard raced against the Australian Olympic swim team in a typically extravagant publicity stunt. Sir Richard's team won narrowly, although only after the hands and legs of the Olympic swimmers were tied – the event made evening news bulletins across Australia.
If any of this promotional work is a chore, Sir Richard is careful not to let it show because everything in the Virgin universe is supposed to be fun and cool.
That is what the brand stands for but like any corporate message it can occasionally feel contrived or forced, although I imagine that even a dull day on planet Branson is more fun than the most interesting day at any other firm.
Take, for example, the launch party for V Australia in Sydney last week.
With the economic downturn taking a grip on countries such as Australia and airlines feeling the pinch more than most, it would have been understandable for Virgin to push for a low-key launch for V. No. Instead, Sir Richard hired an island in Sydney harbour and invited a couple of thousand celebrities, media and Virgin employees for a massive party that featured live bands, free beverages and various other entertainments.
Sir Richard arrived in a helicopter flanked by a couple of stunning flight attendants, the crowd went wild and the woman in front of me became hysterical after Sir Richard kissed her on his way past.
Steve Jobs or Bill Gates might generate that sort of enthusiasm among the geekiest of technophiles but it is hard to imagine any other businessman generating the sort of interest or excitement that Branson does. After Sydney we flew to Los Angeles and another party, this time at the exclusive Chateau Marmont hotel in Beverley Hills. This was a smaller affair (only 400 people) but with a much higher ratio of celebrities and we rubbed shoulders with Oscar nominees and Hollywood starlets, which was a massive improvement on the CEOs, executives and communications directors that I usually spend my working days with.
This is what life on planet Branson is like. He works hard but he also plays hard and it is these characteristics that have come to define the Virgin brand.
And its success.
- David Robertson is Business correspondent of The Times of London
Media Man Australia Profiles
Richard Branson
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Sir Richard launched his first company at the age of 15 and has gone on to set up hundreds more in sectors as diverse and space travel, mobile phones and soft drinks.
The Virgin Group, which is the umbrella company for the numerous Virgin enterprises, has revenues of over $10 billion (Dh36.7bn) a year and Sir Richard himself has been estimated to be worth about $2bn.
Having spent a week in close proximity with Sir Richard, the most striking thing about him is that he is remarkably down to earth.
I have met chief executives from companies that are a fraction of the size of the Virgin Group who are as aloof as rock stars.
Sir Richard, by contrast, appears to enjoy meeting staff and members of the public and is constantly posing for photographs or signing autographs.
I have also discovered in the past week that despite being 58, Sir Richard is a hard man to keep up with. He jumped off our day-long London to Sydney flight and flew straight to Melbourne to open a new Virgin Active gym. He then flew back to Sydney for dinner with Cate Blanchett, the actress.
Meanwhile, Sir Richard's entourage blundered around Sydney like the living dead and had passed out by 9pm.
Our journey around the world was part of a promotional trip to publicise the launch of V Australia, Sir Richard's newest airline.
It will operate services from Sydney, Melbourne and Brisbane to Los Angeles and is the final link in Virgin's global network. Passengers can now travel around the world without leaving the Virgin family - as we have proved in the past week to the detriment of our carbon footprints.
However, the trip has also allowed Sir Richard to catch up with various other parts of the Virgin empire. Virgin Active is expanding rapidly in Australia and he opened gyms in both Melbourne and Sydney. At the Sydney opening, Sir Richard raced against the Australian Olympic swim team in a typically extravagant publicity stunt. Sir Richard's team won narrowly, although only after the hands and legs of the Olympic swimmers were tied – the event made evening news bulletins across Australia.
If any of this promotional work is a chore, Sir Richard is careful not to let it show because everything in the Virgin universe is supposed to be fun and cool.
That is what the brand stands for but like any corporate message it can occasionally feel contrived or forced, although I imagine that even a dull day on planet Branson is more fun than the most interesting day at any other firm.
Take, for example, the launch party for V Australia in Sydney last week.
With the economic downturn taking a grip on countries such as Australia and airlines feeling the pinch more than most, it would have been understandable for Virgin to push for a low-key launch for V. No. Instead, Sir Richard hired an island in Sydney harbour and invited a couple of thousand celebrities, media and Virgin employees for a massive party that featured live bands, free beverages and various other entertainments.
Sir Richard arrived in a helicopter flanked by a couple of stunning flight attendants, the crowd went wild and the woman in front of me became hysterical after Sir Richard kissed her on his way past.
Steve Jobs or Bill Gates might generate that sort of enthusiasm among the geekiest of technophiles but it is hard to imagine any other businessman generating the sort of interest or excitement that Branson does. After Sydney we flew to Los Angeles and another party, this time at the exclusive Chateau Marmont hotel in Beverley Hills. This was a smaller affair (only 400 people) but with a much higher ratio of celebrities and we rubbed shoulders with Oscar nominees and Hollywood starlets, which was a massive improvement on the CEOs, executives and communications directors that I usually spend my working days with.
This is what life on planet Branson is like. He works hard but he also plays hard and it is these characteristics that have come to define the Virgin brand.
And its success.
- David Robertson is Business correspondent of The Times of London
Media Man Australia Profiles
Richard Branson
Virgin Enterprises Limited
Travel and Tourism
Rare good news for Packer - The Sydney Morning Herald - 2nd March 2009
Living & Leisure Australia has turned its business around after a recapitalisation. The ski resort and aquarium operator has posted a net profit of $A10.4 million for the first half of 2008-09, following a loss in 2007-08. Arctic Capital, owned by James Packer's Consolidated Press Holdings, holds a 49.7 per cent stake via the recapitalisation, and also has management rights.
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Monday, 16 February 2009
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Wednesday, 11 February 2009
Macau Mogul Says He's Worth More, by Laurie Burkitt - Forbes
Stanley Ho refutes Forbes estimate of his fortune.
Longtime member of Forbes billionaires club, Stanley Ho, reportedly ridiculed Forbes' most recent $1 billion estimate of his net worth, as it appeared in the list of Hong Kong’s 40 Richest. In a story that ran earlier this week in South China Morning Post and was later picked up in other news publications, Ho apparently made fun of Forbes' conclusion that his net worth had dropped from $9 billion to $1 billion, an 89% fall, and claimed instead that his casinos were “printing money.” He apparently made the comments at a lunch banquet in Hong Kong for the Federation of Women on Sunday, at which he went onto say that he supposed he should thank Forbes for warding off potential kidnappers.
While Ho, who held Macau’s only gambling license for decades, may well have stashed money away over the years, it does not change the fact that his main casino holding, Sociedade de Jogos de Macau, is worth billions less than it was last year. That drop is tied to the collapse in market valuations of once-sizzling gaming companies coupled with an ill-timed public offering in July.
Last year Forbes valued his stake in SJM, which operates 19 casinos in Macau, at $8 billion, based on comparisons to prevailing price-to-earnings ratios of its public rivals including Las Vegas Sands (nyse: LVS - news - people ), Wynn Resorts and MGM Mirage (nyse: MGM - news - people ), all of which do business in Macau. Then Ho made it easier to estimate his net worth when he took his company public on Hong Kong’s Hang Seng index in July, just as investors were fleeing casino stocks. When it came time to value his holdings this year, Forbes simply took the value of his publicly disclosed stake in SJM, which is down 40% since the listing, and calculated its value in January at $280 million. It’s hard to refute that math.
Ho should take comfort in the fact that he is by no means the only gaming billionaire to lose a pile of chips. American casino mogul Sheldon Adelson, who ranked the 12th-richest person in the world last March, was the biggest loser among American billionaires last year, as shares of his Las Vegas Sands fell 94%. Just this month, Wynn, run by American gaming tycoon Steve Wynn, announced it would eliminate 2009 bonuses and cut pay for salaried employees in Las Vegas. Its stock was down 62% in 2008. Moody’s Investors Service cut the credit rating of Kirk Kerkorian’s MGM, as profits continue to fall and the company has not been able to raise $3 billion for a Las Vegas development called CityCenter. As of December, Kerkorian had lost $11.9 billion and ranked number five on Forbes list of America’s 25 biggest losers of 2008.
Still if Ho had piles of other money, he had plenty of opportunities to tell Forbes about it. Ho ignored repeated calls seeking comment - including one Tuesday - and did not comment on Forbes' valuation this year or in years past. In his recent public denial, he offered no details as to how he has managed to buck the downward economic trend. Nor has he invited Forbes to peek under his mattress to see where he’s stashed those purported missing billions. (Credit: Forbes)
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Longtime member of Forbes billionaires club, Stanley Ho, reportedly ridiculed Forbes' most recent $1 billion estimate of his net worth, as it appeared in the list of Hong Kong’s 40 Richest. In a story that ran earlier this week in South China Morning Post and was later picked up in other news publications, Ho apparently made fun of Forbes' conclusion that his net worth had dropped from $9 billion to $1 billion, an 89% fall, and claimed instead that his casinos were “printing money.” He apparently made the comments at a lunch banquet in Hong Kong for the Federation of Women on Sunday, at which he went onto say that he supposed he should thank Forbes for warding off potential kidnappers.
While Ho, who held Macau’s only gambling license for decades, may well have stashed money away over the years, it does not change the fact that his main casino holding, Sociedade de Jogos de Macau, is worth billions less than it was last year. That drop is tied to the collapse in market valuations of once-sizzling gaming companies coupled with an ill-timed public offering in July.
Last year Forbes valued his stake in SJM, which operates 19 casinos in Macau, at $8 billion, based on comparisons to prevailing price-to-earnings ratios of its public rivals including Las Vegas Sands (nyse: LVS - news - people ), Wynn Resorts and MGM Mirage (nyse: MGM - news - people ), all of which do business in Macau. Then Ho made it easier to estimate his net worth when he took his company public on Hong Kong’s Hang Seng index in July, just as investors were fleeing casino stocks. When it came time to value his holdings this year, Forbes simply took the value of his publicly disclosed stake in SJM, which is down 40% since the listing, and calculated its value in January at $280 million. It’s hard to refute that math.
Ho should take comfort in the fact that he is by no means the only gaming billionaire to lose a pile of chips. American casino mogul Sheldon Adelson, who ranked the 12th-richest person in the world last March, was the biggest loser among American billionaires last year, as shares of his Las Vegas Sands fell 94%. Just this month, Wynn, run by American gaming tycoon Steve Wynn, announced it would eliminate 2009 bonuses and cut pay for salaried employees in Las Vegas. Its stock was down 62% in 2008. Moody’s Investors Service cut the credit rating of Kirk Kerkorian’s MGM, as profits continue to fall and the company has not been able to raise $3 billion for a Las Vegas development called CityCenter. As of December, Kerkorian had lost $11.9 billion and ranked number five on Forbes list of America’s 25 biggest losers of 2008.
Still if Ho had piles of other money, he had plenty of opportunities to tell Forbes about it. Ho ignored repeated calls seeking comment - including one Tuesday - and did not comment on Forbes' valuation this year or in years past. In his recent public denial, he offered no details as to how he has managed to buck the downward economic trend. Nor has he invited Forbes to peek under his mattress to see where he’s stashed those purported missing billions. (Credit: Forbes)
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Tuesday, 10 February 2009
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Monday, 9 February 2009
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Sunday, 8 February 2009
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Thursday, 5 February 2009
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Tuesday, 3 February 2009
Taking gamble on China connection, by Hamish McDonald - Fairfax - 3rd February 2009
In September 2007, when the then premier Morris Iemma was hosting a state banquet at the Wentworth Hotel for the Chinese President and Communist Party chief Hu Jintao, a guest sitting at the top table made old China hands blink.
What was Stanley Ho, the tango-dancing tsar of the Macau casino world, doing at a gathering to cement links with the then-booming Chinese economy and to celebrate the Labor Party's pioneering role in that relationship?
Dr Ho, now 87 , sat modestly at the bottom of the table with his fourth wife, but was not without attention. The former prime minister Bob Hawke bounded up to shake him by the hand.
At the time speculation suggested Dr Ho was angling for a second casino licence in NSW. Tabcorp's monopoly at Star City in Pyrmont was up for review. The longtime chief of Sociedade de Jogos de Macau (Macau Gaming Company), then worth $US7 billion according to Forbes magazine, was a big donor to the state ALP, and had held private talks with Mr Iemma.
However, soon afterwards Tabcorp's monopoly was extended, with the promise of major refurbishments at Pyrmont. Dr Ho's rumoured interest may have been used to extract better terms for the state.
There was always the slight awkwardness that despite his consistent denials and no charges ever being laid against him, Dr Ho had been excluded from the original Star City contention. A cloud of association with the Chinese underworld, the triad gangs, hung around his 15 or so Macau casinos.
The innuendo was based on reports that triad elements sub-leased VIP gambling rooms in his casinos and ran loan-sharking and prostitution operations on their fringes. No association has ever been established.
This has been enough to exclude him from gambling operations in the US, Singapore, Canada and here. But the perceived sins of the father are not visited on his 17 children. His daughter Pansy got approval for casinos in the US, and his son Lawrence got the approval of Victorian and Western Australian gambling authorities for his Macau casino joint venture Melco with James Packer's Crown.
Although his formal education was disrupted by the Great Depression and World War II, Dr Ho also values education. He treasures his honorary doctorate, and endows universities around the world. He has also been buying back the treasures looted from Beijing's Summer Palace by Western armies in 1860.
On the other hand, who knows what the NSW Labor Party might give away in its last desperate two years in power?
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Casino Travel and Tourism
Travel and Tourism
What was Stanley Ho, the tango-dancing tsar of the Macau casino world, doing at a gathering to cement links with the then-booming Chinese economy and to celebrate the Labor Party's pioneering role in that relationship?
Dr Ho, now 87 , sat modestly at the bottom of the table with his fourth wife, but was not without attention. The former prime minister Bob Hawke bounded up to shake him by the hand.
At the time speculation suggested Dr Ho was angling for a second casino licence in NSW. Tabcorp's monopoly at Star City in Pyrmont was up for review. The longtime chief of Sociedade de Jogos de Macau (Macau Gaming Company), then worth $US7 billion according to Forbes magazine, was a big donor to the state ALP, and had held private talks with Mr Iemma.
However, soon afterwards Tabcorp's monopoly was extended, with the promise of major refurbishments at Pyrmont. Dr Ho's rumoured interest may have been used to extract better terms for the state.
There was always the slight awkwardness that despite his consistent denials and no charges ever being laid against him, Dr Ho had been excluded from the original Star City contention. A cloud of association with the Chinese underworld, the triad gangs, hung around his 15 or so Macau casinos.
The innuendo was based on reports that triad elements sub-leased VIP gambling rooms in his casinos and ran loan-sharking and prostitution operations on their fringes. No association has ever been established.
This has been enough to exclude him from gambling operations in the US, Singapore, Canada and here. But the perceived sins of the father are not visited on his 17 children. His daughter Pansy got approval for casinos in the US, and his son Lawrence got the approval of Victorian and Western Australian gambling authorities for his Macau casino joint venture Melco with James Packer's Crown.
Although his formal education was disrupted by the Great Depression and World War II, Dr Ho also values education. He treasures his honorary doctorate, and endows universities around the world. He has also been buying back the treasures looted from Beijing's Summer Palace by Western armies in 1860.
On the other hand, who knows what the NSW Labor Party might give away in its last desperate two years in power?
Media Man Australia Profiles
Casino Travel and Tourism
Travel and Tourism
Monday, 2 February 2009
Sunday, 1 February 2009
Travel and Tourism Profiles Updated
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Saturday, 31 January 2009
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All ablaze in capital of om - The West Australian - 25th January 2009
We love a quickie to Byron Bay? Simon Webster gets the jump on the latest attractions.
Being doused with petrol and set alight isn't what most people would consider holiday fun. While some want nothing more exciting from a long weekend than trying a new cocktail every day, others just aren't satisfied unless they've been turned into a human fireball.
Fortunately, that is now a possibility, thanks to the Universal Peace Centre Retreat (upc.com.au) near the village of Uki in the Byron Bay hinterland.
Australia's very own Bollywood star Tania Zaetta will be the host for the first Face Your Fears Ultimate Extreme Retreat, for which only 20 spaces are available.
As well as abseiling down a 60-metre oceanside cliff, participants will try their hand at stunt driving at a performance driving centre, a high fall into a stunt airbag, skydiving and, of course, being turned into a human fireball.
Stuntman Colin Handley will be on hand with his years of experience in Hollywood and Bollywood to help participants look terrified as they run around engulfed in flames for 20 seconds.
Then again, maybe the fear will just come to you naturally.
The three-day extreme retreat will take place from May 22 to 24 and costs $8950 all-inclusive, with helicopter and limousine transfers from one death-defying event to another.
The five-star centre's more typical offerings include six-day executive relaxation spa retreats, 10-day silent meditation retreats, weekend relaxation spa retreats and romantic tantra getaways, at which teacher Oceana helps couples reconnect and discover the sacredness within sexuality.
Organic food and a rainforest setting with views of Mount Warning should help light your fire one way or the other.
The retreat also operates as a day spa, with treatments including butterfly dreaming, which comprises a Dead Sea salt scrub with grapefruit and lime, a clay body mask infused with ginger and a massage using aromatherapy.
As the undisputed capital of the Australian wellness industry, Byron Bay offers more varieties of massage, yoga and meditation than you can poke a Hopi ear candle at. Among the latest offerings is a seashell massage from Ripple (ripplemassage.com.au), "the day spa that comes to you".
Scented oils are heated in cowrie shells before being poured over the body. Other shells, such as ginger scallops, are used as massage tools. That should guarantee the sound of the ocean lapping in your ears.
For those who feel the urge to explore the outer world as well as the inner, a new artists' trail (www.byronartisttrail.com) provides a guide to the Byron Arts and Industry Park, home to 13 studios and galleries and a couple of cafes at which visitors can ponder which artist is worthy of their patronage.
Works on display include the sandblasted glass art of Clearlight Designs, the nudes and portraits of oil painter Byron Tik, the silk screens and block printing of Anne Leon and the mystical work of Ella Risebrow, who invites visitors to sit and be painted as a fairy, mermaid, hobbit or elf.
More help in exploring the Far North Coast comes from the Byron at Byron Resort and Spa (thebyronatbyron.com.au). It has introduced free tours of the Byron Bay organic farmers' market for guests every Thursday morning, conducted by the resort's chef, who should know a thing or two about heirloom tomatoes and prize marrows.
The resort encourages its guests to get out and about with a full-day hinterland drive itinerary (self-drive or chauffeur-driven) and a series of packages that include options for balloon flights over the hinterland and night-vision walks.
The resort also has girls' weekends away, babymoon and connoisseurs' packages.
Fine diners might want to try Byron Bay's recently opened homage to traditional French cuisine, the Petit Snail (thepetitsnail.com.au), which offers dishes such as canard aux peches (duck with peaches), filet de sandre farci a l'oseille sur beurre blanc (freshwater perch fillet with French sorrel stuffing on lemon butter) and, of course, escargots de bourgogne (snails in garlic butter).
Long-established seafood restaurant Fishheads (fishheadsbyron.com.au), overlooking Byron's Main Beach, is giving back to the community next month by raising funds for Uncle, a mentoring program for boys who would benefit from positive male role models.
Adventurous visitors to Byron who can't or won't cough up for the extreme stuntman extravaganza might want to consider getting their adrenalin fix from Byron Landings Tandem Skydive, a new skydive business that lands in Byron Bay itself. Not, unfortunately, in the courtyard of the Beach Hotel, as post-jump punters might well be in need of a drink.
Freefalls last up to a minute, depending on how high jumpers want to go. Prices start at $249. Phone 1300 887 037.
An alternative to jumping out of a small plane is being strapped into a tiny one.
Another new company, Byron Bay Microlights (byronbaymicrolights.com.au), can help, offering coastal and hinterland flights from $170.
Finally, anyone disconcerted by how slowly the traffic moves in Byron Bay on a busy weekend might want to consider visiting from September 3-6.
This is when cars will be moving very quickly indeed as the World Rally Championship (rallyaustralia.com) comes to the hinterland town of Kyogle. (Credit: The West Australian)
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Universal Peace Centre Retreat
Colin Handley
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Being doused with petrol and set alight isn't what most people would consider holiday fun. While some want nothing more exciting from a long weekend than trying a new cocktail every day, others just aren't satisfied unless they've been turned into a human fireball.
Fortunately, that is now a possibility, thanks to the Universal Peace Centre Retreat (upc.com.au) near the village of Uki in the Byron Bay hinterland.
Australia's very own Bollywood star Tania Zaetta will be the host for the first Face Your Fears Ultimate Extreme Retreat, for which only 20 spaces are available.
As well as abseiling down a 60-metre oceanside cliff, participants will try their hand at stunt driving at a performance driving centre, a high fall into a stunt airbag, skydiving and, of course, being turned into a human fireball.
Stuntman Colin Handley will be on hand with his years of experience in Hollywood and Bollywood to help participants look terrified as they run around engulfed in flames for 20 seconds.
Then again, maybe the fear will just come to you naturally.
The three-day extreme retreat will take place from May 22 to 24 and costs $8950 all-inclusive, with helicopter and limousine transfers from one death-defying event to another.
The five-star centre's more typical offerings include six-day executive relaxation spa retreats, 10-day silent meditation retreats, weekend relaxation spa retreats and romantic tantra getaways, at which teacher Oceana helps couples reconnect and discover the sacredness within sexuality.
Organic food and a rainforest setting with views of Mount Warning should help light your fire one way or the other.
The retreat also operates as a day spa, with treatments including butterfly dreaming, which comprises a Dead Sea salt scrub with grapefruit and lime, a clay body mask infused with ginger and a massage using aromatherapy.
As the undisputed capital of the Australian wellness industry, Byron Bay offers more varieties of massage, yoga and meditation than you can poke a Hopi ear candle at. Among the latest offerings is a seashell massage from Ripple (ripplemassage.com.au), "the day spa that comes to you".
Scented oils are heated in cowrie shells before being poured over the body. Other shells, such as ginger scallops, are used as massage tools. That should guarantee the sound of the ocean lapping in your ears.
For those who feel the urge to explore the outer world as well as the inner, a new artists' trail (www.byronartisttrail.com) provides a guide to the Byron Arts and Industry Park, home to 13 studios and galleries and a couple of cafes at which visitors can ponder which artist is worthy of their patronage.
Works on display include the sandblasted glass art of Clearlight Designs, the nudes and portraits of oil painter Byron Tik, the silk screens and block printing of Anne Leon and the mystical work of Ella Risebrow, who invites visitors to sit and be painted as a fairy, mermaid, hobbit or elf.
More help in exploring the Far North Coast comes from the Byron at Byron Resort and Spa (thebyronatbyron.com.au). It has introduced free tours of the Byron Bay organic farmers' market for guests every Thursday morning, conducted by the resort's chef, who should know a thing or two about heirloom tomatoes and prize marrows.
The resort encourages its guests to get out and about with a full-day hinterland drive itinerary (self-drive or chauffeur-driven) and a series of packages that include options for balloon flights over the hinterland and night-vision walks.
The resort also has girls' weekends away, babymoon and connoisseurs' packages.
Fine diners might want to try Byron Bay's recently opened homage to traditional French cuisine, the Petit Snail (thepetitsnail.com.au), which offers dishes such as canard aux peches (duck with peaches), filet de sandre farci a l'oseille sur beurre blanc (freshwater perch fillet with French sorrel stuffing on lemon butter) and, of course, escargots de bourgogne (snails in garlic butter).
Long-established seafood restaurant Fishheads (fishheadsbyron.com.au), overlooking Byron's Main Beach, is giving back to the community next month by raising funds for Uncle, a mentoring program for boys who would benefit from positive male role models.
Adventurous visitors to Byron who can't or won't cough up for the extreme stuntman extravaganza might want to consider getting their adrenalin fix from Byron Landings Tandem Skydive, a new skydive business that lands in Byron Bay itself. Not, unfortunately, in the courtyard of the Beach Hotel, as post-jump punters might well be in need of a drink.
Freefalls last up to a minute, depending on how high jumpers want to go. Prices start at $249. Phone 1300 887 037.
An alternative to jumping out of a small plane is being strapped into a tiny one.
Another new company, Byron Bay Microlights (byronbaymicrolights.com.au), can help, offering coastal and hinterland flights from $170.
Finally, anyone disconcerted by how slowly the traffic moves in Byron Bay on a busy weekend might want to consider visiting from September 3-6.
This is when cars will be moving very quickly indeed as the World Rally Championship (rallyaustralia.com) comes to the hinterland town of Kyogle. (Credit: The West Australian)
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Universal Peace Centre Retreat
Colin Handley
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Travel and Tourism
Monday, 26 January 2009
Sunday, 25 January 2009
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Saturday, 24 January 2009
Making money while you sleep, by Peter Switzer - The Australian - 28th March 2008
Graeme Wood started hotel site Wotif.com just as the dotcom bubble burst, but that didn't stop it becoming an internet success story.
One of the greatest pay-offs for the new-age online entrepreneurs is that as soon as they create a website eyes want to surf to on a regular basis, and the marketing campaign has some traction, it's just a matter of making money while they sleep.
Graeme Wood, the founder of one of this country's most successful online destinations, actually took "making money while you sleep'' to a logical conclusion by creating a site that effectively sells beds at hotels to a world virtually addicted to travel.
And not only has Wotif.com been an online entrepreneurial success, it has delivered the ultimate prize of being in business - the creation of a respected, publicly listed company.
How successful? Well, try these bananas:
- Offices in Australia, Canada, Malaysia, New Zealand, Singapore and Britain;
- Hotel customers in 44 countries;
- 11,000 properties sold on the website;
- Visits per month: 3.2 million;
- Bookings per month: over 200,000;
- Employs more than 190 people.
This is not just a success story Graeme Wood can be proud of; it's a national achievement that creates a powerful role model for other budding online entrepreneurs.
So, what's his story and the secrets of his success?
Having a benchmark skill in the fast-growth area of the internet and understanding how markets worked was a starting point advantage for Mr Wood. His academic background was perfect with a Bachelor of Economics and a Master of Information Systems.
This all came together when working for a hospitality outfit.
"I always had a fascination for markets and I was doing some work for a hotel chain,'' says Mr Wood.
"The problem was how does an individual hotel get the news to the market that they had something to sell?''
The answer was simple: a website that permitted those supplying rooms at less than the usual rate to tell those demanding rooms that the rooms were available.
"I went out and approached a big hotel chain and asked them what they thought about the idea and was met with, `It might work','' Mr Wood says.
"However, smaller hotels saw it as a great idea figuring they had nothing to lose.
"In the end, as the smaller hotels took to it, the bigger ones came around, too. We had created a market and it was magic stuff. It certainly has proved a magic formula.''
Backed by co-founders Andrew Brice and Kevin Fitzpatrick - who stumped up the money for Mr Wood's market-maker - the rest has become online business history.
But it was no simple walk in the technology park because Wotif.com started in March 2000 - the month the dotcom bust happened, sending the stock market plummeting.
Despite this challenge, Australians still wanted to travel and buying off the internet was a social tsunami no one was going to contain. But Mr Wood believes his company's innovations also explain the success of the business.
"Our innovative way of displaying room rates - our hotel price matrix - added to our success,'' he says.
"It gave travellers and the hotels an easy way to check all available prices, up-front.
"Customers could now see discounted pricing from a number of hotels on the one screen and then simply book the room they wanted.''
Word-of-mouth referrals from the new breed of internet-users helped the company achieve market momentum.
But the wagging tongues were helped along by the strategic use of public relations to get the media outlets on side and doing free marketing for the fledgling operation.
"We used an external PR firm for six months when we started but we do it in-house nowadays,'' he says. "I have a great belief in the powers of the press.''
The take-off of the business was fast - very fast.
"In 2001, we opened our European office in the UK and by 2002 we were offering deals in the US and offering accommodation in 20 countries,'' Mr Wood says.
"In September 2005, our board of directors announced the decision to seek a listing on the Australian Stock Exchange.''
It happened in June 2006 and by August last year the 2006-07 financial year results showed 60 per cent growth in net profit and a total of 2.06 million bookings for the 12-month period.
What was the vision that Mr Wood saw as giving him the competitive edge to create this blockbusting business?
The starting point was really understanding the market - great entrepreneurs have in-built marketing radars or else they are smart enough to pay for others to show them the way.
Mr Wood's observations told him hotels with unsold rooms could get a short-term, responsive, cost-effective sales channel via the internet.
Meanwhile, hotel guests, who once lacked market information and paid too much, would be able to save both time and money.
His offering had an enormous productivity offering for smart business managers.
"Wotif.com made it possible for hotels to optimise their yield by updating availability and rates online, in real time, based on current demand and supply,'' Mr Wood says.
"A room sold at 50 per cent of normal rates adds more to the bottom line than an unsold room.''
When you understand the challenges of both the producers and the customers in a market, and then you can create something that makes both parties' lives better, you are on to an absolute winner.
On the appeal of creating an online business, Mr Wood looks to the attractive numbers.
"One of the nice things is you can run a small pilot - it didn't cost us much to get a website out there,'' he explains.
"But there was a constant reinvestment of profits into making it better.''
And that's the entrepreneurial challenge to find the money to back the vision.
Mr Wood says he is not a big one for experts and has relied heavily on gut feelings, but he is a listener.
"It's always nice to talk to someone when you hit a dead end,'' he says.
"People like me are always looking at new ways to solve a problem and in talking to someone an idea can turn up.''
Mr Wood has retired as chief executive, acknowledging that public company life "means you have to behave yourself''.
He hankers for the entrepreneurial life and running a public company calls for a different skill set.
"I love delegating,'' he says. "When I find people who do jobs better than me, I give those jobs to them.''
Wotif.com recently acquired Asia Web Direct and Travel.com.au, which Mr Wood thinks will give his company greater access to Asia and a broader range of services.
Online entrepreneurs of the future could well benefit by asking themselves: what if I modelled my business plan on Wotif.com? That would be a smart entrepreneurial decision to make.
Net profit
Graeme Wood's blueprint for online success:
- Create an online business plan that makes money while you sleep.
- Do your market research, identify market failure and come up with a solution to both buyers' and sellers' problems.
- Get financial backers on side to bankroll crucial start-up investments such as a great website.
- Use your innovative business approach to attract media exposure.
- Approach small players first to try your product and watch the big boys follow when it proves to be a goer.
- Continue to innovate to keep wowing your customers and to attract new ones through word-of-mouth advertising.
- Enter awards, win them and get media coverage for marketing payoffs.
- Replace yourself with people who are better than you.
Media Man Australia Profiles
Wotif.com
Graeme Wood
Accommodation
Travel and Tourism
One of the greatest pay-offs for the new-age online entrepreneurs is that as soon as they create a website eyes want to surf to on a regular basis, and the marketing campaign has some traction, it's just a matter of making money while they sleep.
Graeme Wood, the founder of one of this country's most successful online destinations, actually took "making money while you sleep'' to a logical conclusion by creating a site that effectively sells beds at hotels to a world virtually addicted to travel.
And not only has Wotif.com been an online entrepreneurial success, it has delivered the ultimate prize of being in business - the creation of a respected, publicly listed company.
How successful? Well, try these bananas:
- Offices in Australia, Canada, Malaysia, New Zealand, Singapore and Britain;
- Hotel customers in 44 countries;
- 11,000 properties sold on the website;
- Visits per month: 3.2 million;
- Bookings per month: over 200,000;
- Employs more than 190 people.
This is not just a success story Graeme Wood can be proud of; it's a national achievement that creates a powerful role model for other budding online entrepreneurs.
So, what's his story and the secrets of his success?
Having a benchmark skill in the fast-growth area of the internet and understanding how markets worked was a starting point advantage for Mr Wood. His academic background was perfect with a Bachelor of Economics and a Master of Information Systems.
This all came together when working for a hospitality outfit.
"I always had a fascination for markets and I was doing some work for a hotel chain,'' says Mr Wood.
"The problem was how does an individual hotel get the news to the market that they had something to sell?''
The answer was simple: a website that permitted those supplying rooms at less than the usual rate to tell those demanding rooms that the rooms were available.
"I went out and approached a big hotel chain and asked them what they thought about the idea and was met with, `It might work','' Mr Wood says.
"However, smaller hotels saw it as a great idea figuring they had nothing to lose.
"In the end, as the smaller hotels took to it, the bigger ones came around, too. We had created a market and it was magic stuff. It certainly has proved a magic formula.''
Backed by co-founders Andrew Brice and Kevin Fitzpatrick - who stumped up the money for Mr Wood's market-maker - the rest has become online business history.
But it was no simple walk in the technology park because Wotif.com started in March 2000 - the month the dotcom bust happened, sending the stock market plummeting.
Despite this challenge, Australians still wanted to travel and buying off the internet was a social tsunami no one was going to contain. But Mr Wood believes his company's innovations also explain the success of the business.
"Our innovative way of displaying room rates - our hotel price matrix - added to our success,'' he says.
"It gave travellers and the hotels an easy way to check all available prices, up-front.
"Customers could now see discounted pricing from a number of hotels on the one screen and then simply book the room they wanted.''
Word-of-mouth referrals from the new breed of internet-users helped the company achieve market momentum.
But the wagging tongues were helped along by the strategic use of public relations to get the media outlets on side and doing free marketing for the fledgling operation.
"We used an external PR firm for six months when we started but we do it in-house nowadays,'' he says. "I have a great belief in the powers of the press.''
The take-off of the business was fast - very fast.
"In 2001, we opened our European office in the UK and by 2002 we were offering deals in the US and offering accommodation in 20 countries,'' Mr Wood says.
"In September 2005, our board of directors announced the decision to seek a listing on the Australian Stock Exchange.''
It happened in June 2006 and by August last year the 2006-07 financial year results showed 60 per cent growth in net profit and a total of 2.06 million bookings for the 12-month period.
What was the vision that Mr Wood saw as giving him the competitive edge to create this blockbusting business?
The starting point was really understanding the market - great entrepreneurs have in-built marketing radars or else they are smart enough to pay for others to show them the way.
Mr Wood's observations told him hotels with unsold rooms could get a short-term, responsive, cost-effective sales channel via the internet.
Meanwhile, hotel guests, who once lacked market information and paid too much, would be able to save both time and money.
His offering had an enormous productivity offering for smart business managers.
"Wotif.com made it possible for hotels to optimise their yield by updating availability and rates online, in real time, based on current demand and supply,'' Mr Wood says.
"A room sold at 50 per cent of normal rates adds more to the bottom line than an unsold room.''
When you understand the challenges of both the producers and the customers in a market, and then you can create something that makes both parties' lives better, you are on to an absolute winner.
On the appeal of creating an online business, Mr Wood looks to the attractive numbers.
"One of the nice things is you can run a small pilot - it didn't cost us much to get a website out there,'' he explains.
"But there was a constant reinvestment of profits into making it better.''
And that's the entrepreneurial challenge to find the money to back the vision.
Mr Wood says he is not a big one for experts and has relied heavily on gut feelings, but he is a listener.
"It's always nice to talk to someone when you hit a dead end,'' he says.
"People like me are always looking at new ways to solve a problem and in talking to someone an idea can turn up.''
Mr Wood has retired as chief executive, acknowledging that public company life "means you have to behave yourself''.
He hankers for the entrepreneurial life and running a public company calls for a different skill set.
"I love delegating,'' he says. "When I find people who do jobs better than me, I give those jobs to them.''
Wotif.com recently acquired Asia Web Direct and Travel.com.au, which Mr Wood thinks will give his company greater access to Asia and a broader range of services.
Online entrepreneurs of the future could well benefit by asking themselves: what if I modelled my business plan on Wotif.com? That would be a smart entrepreneurial decision to make.
Net profit
Graeme Wood's blueprint for online success:
- Create an online business plan that makes money while you sleep.
- Do your market research, identify market failure and come up with a solution to both buyers' and sellers' problems.
- Get financial backers on side to bankroll crucial start-up investments such as a great website.
- Use your innovative business approach to attract media exposure.
- Approach small players first to try your product and watch the big boys follow when it proves to be a goer.
- Continue to innovate to keep wowing your customers and to attract new ones through word-of-mouth advertising.
- Enter awards, win them and get media coverage for marketing payoffs.
- Replace yourself with people who are better than you.
Media Man Australia Profiles
Wotif.com
Graeme Wood
Accommodation
Travel and Tourism
Friday, 23 January 2009
Thursday, 22 January 2009
Wednesday, 21 January 2009
Tuesday, 20 January 2009
Macau casino revenues collapse
The final quarter of 2008 for the gambling sector in Macau was marked by a decline of 7% in turnover, affecting the Australian owners and suppliers of the casinos in the region. Poker machine maker Aristocrat Leisure and the joint venture of Crown with Melco are also facing the prospect of running a physically isolated operation, as most rival casino projects in the neighbourhood have been deferred due to the global financial crisis.
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Dice with death bad news for Packer, by Vanda Carson - The Sydney Morning Herald - 20th January 2009
James Packer may not be able to rely on return visits from all of his high rollers when his keenly awaited Macau casino City of Dreams opens later this year.
Revenues at high-roller casinos in Macau are down due to a lack in repeat business because many of their big-spending patrons don't make it back to the tables for the roll of the dice.
According to a study of 99 high rollers from mainland China whose gambling habits propelled them into the headlines, 44 per cent were either sentenced to death, murdered, committed suicide or were serving long jail sentences after committing crimes to fund their visits. Zeng Zhonglu, a professor at the Macau Polytechnic Institute, found 15 of the gamblers were sentenced to death, seven committed suicide or were "killed by others", two were given a death sentence reprieve and 20 were serving long jail sentences.
At least 10 Chinese companies collapsed, casualties of the massive gambling losses by big-spending players, known in the industry as "whales".
Of the group Mr Zeng followed, more than half worked for the Chinese Government or state owned enterprises.
The theft of state funds by government workers is believed to have triggered the Chinese Government's clampdown on issuing visas for visits to Macau, a move which has been blamed for the slump in gaming revenues which have fallen by 19 per cent since March.
The 33 officials followed reported losing an average of $US2.7 million ($4 million) each while 19 senior managers at state-owned enterprises lost $US1.9 million each. Seven cashiers at state-owned businesses shed an average of $US500,000. Mr Zeng said he was unable to use questionnaires or surveys to poll high rollers because they were "reluctant to reveal their gambling experiences". His research found that in a single gambling session one gambler lost $US12 million, and one private company owner lost $US96 million over several years.
The average total loss for 99 gamblers was $US3.4 million.
Mr Zeng was unable to determine which casinos were used by the gamblers in his survey.
High rollers are vital to Macau's 31 casinos, with revenues from baccarat games played in private rooms reserved for VIPs generating 70 per cent of total casino revenue at its peak at the start of 2008.
In 2008 they made up 68 per cent of revenues, or 74 billion patacas. Both of James Packer's casino joint ventures in the former Portuguese colony, Crown Macau and his soon-to-be-opened City of Dreams, focus on high rollers. Crown Macau has a market share of 14 per cent, behind Stanley Ho's Sociedade de Jogos de Macau, Las Vegas Sands and Wynn Resorts, according to the Portuguese news agency Lusa.
Chinese visitors to Macau made up 56 per cent of all visitors in 2007 and by 2008 they were estimated to have grown to 70 per cent. Mr Packer's casino joint-venture partner Lawrence Ho has estimated they were as high as 93 per cent before the clampdown on visas began.
Casinos prefer Chinese visitors because they spend nearly four times as much as those from Hong Kong, an average of $US429 each, Mr Zeng said.
"Most of the high-stakes gambling lasted four years or less. After that, because of … crimes or other causes, the gambling stopped," he said. (Credit: The Sydney Morning Herald)
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Revenues at high-roller casinos in Macau are down due to a lack in repeat business because many of their big-spending patrons don't make it back to the tables for the roll of the dice.
According to a study of 99 high rollers from mainland China whose gambling habits propelled them into the headlines, 44 per cent were either sentenced to death, murdered, committed suicide or were serving long jail sentences after committing crimes to fund their visits. Zeng Zhonglu, a professor at the Macau Polytechnic Institute, found 15 of the gamblers were sentenced to death, seven committed suicide or were "killed by others", two were given a death sentence reprieve and 20 were serving long jail sentences.
At least 10 Chinese companies collapsed, casualties of the massive gambling losses by big-spending players, known in the industry as "whales".
Of the group Mr Zeng followed, more than half worked for the Chinese Government or state owned enterprises.
The theft of state funds by government workers is believed to have triggered the Chinese Government's clampdown on issuing visas for visits to Macau, a move which has been blamed for the slump in gaming revenues which have fallen by 19 per cent since March.
The 33 officials followed reported losing an average of $US2.7 million ($4 million) each while 19 senior managers at state-owned enterprises lost $US1.9 million each. Seven cashiers at state-owned businesses shed an average of $US500,000. Mr Zeng said he was unable to use questionnaires or surveys to poll high rollers because they were "reluctant to reveal their gambling experiences". His research found that in a single gambling session one gambler lost $US12 million, and one private company owner lost $US96 million over several years.
The average total loss for 99 gamblers was $US3.4 million.
Mr Zeng was unable to determine which casinos were used by the gamblers in his survey.
High rollers are vital to Macau's 31 casinos, with revenues from baccarat games played in private rooms reserved for VIPs generating 70 per cent of total casino revenue at its peak at the start of 2008.
In 2008 they made up 68 per cent of revenues, or 74 billion patacas. Both of James Packer's casino joint ventures in the former Portuguese colony, Crown Macau and his soon-to-be-opened City of Dreams, focus on high rollers. Crown Macau has a market share of 14 per cent, behind Stanley Ho's Sociedade de Jogos de Macau, Las Vegas Sands and Wynn Resorts, according to the Portuguese news agency Lusa.
Chinese visitors to Macau made up 56 per cent of all visitors in 2007 and by 2008 they were estimated to have grown to 70 per cent. Mr Packer's casino joint-venture partner Lawrence Ho has estimated they were as high as 93 per cent before the clampdown on visas began.
Casinos prefer Chinese visitors because they spend nearly four times as much as those from Hong Kong, an average of $US429 each, Mr Zeng said.
"Most of the high-stakes gambling lasted four years or less. After that, because of … crimes or other causes, the gambling stopped," he said. (Credit: The Sydney Morning Herald)
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Monday, 19 January 2009
Macau casino revenues collapse, by Vanda Carson - The Sydney Morning Herald - 19th January 2009
James Packer's Macau casino joint venture and the poker machine maker Aristocrat Leisure have been hit by further headwinds with gaming revenues in the territory falling for the third consecutive quarter.
Gaming revenues in Macau slumped 7 per cent in the three months to December 31 to 24 billion patacas ($4.5 billion), compared to growth of up to 67 per cent in 2007. They include bets on table games and on poker machines in casinos.
The fall comes as Melco Crown Entertainment prepares to open its new $2.2 billion City of Dreams hotel and casino and as the ailing poker machine maker Aristocrat was pinning its hopes on increasing sales to the market.
Mr Packer is relying on the success of the City of Dreams to vindicate his decision to invest billions of dollars of his own money and investors' funds in Macau after his purchase of a casino licence for $1.3 billion.
Gaming revenues are expected to fall further this year with the Macau Government predicting they will average 21 billion patacas each quarter.
The 31 casinos in the former Portuguese colony responded to falling visitor numbers by closing 300 of the 4300 gaming tables and removing 1000 of the 12,800 poker machines in the quarter.
Aristocrat is the top supplier of machines to the Macau market, with more than 60 per cent of the market, giving it about 7000 machines. It had hoped that the total number of machines would grow to 35,000 in two years but this now appears unlikely.
It sold some machines to Mr Packer's City of Dreams casino, which aims to lure high rollers to its 500 tables when it opens in the middle of the year.
But it will have to compete with the established casinos for customers and will open in a virtual ghost town as neighbouring casino developments have been shelved due to the credit crisis and a downturn in the world's largest casino market.
Turnover on VIP baccarat games, which are the biggest single source of revenue in Macau, were the hardest hit in the past three months, falling by 9 per cent from 17.2 billion patacas to 15.6 billion, according to the Macau Gaming Inspection and Co-ordination Bureau. They had been as high as 21 billion patacas in the first quarter.
The VIP segment makes up about 66 per cent of gaming in Macau and is the biggest contributor to Melco Crown Entertainment's Macau casino.
The falls were expected as fewer gamblers visited from mainland China last year, after five consecutive moves to tighten visa restrictions by Beijing.
Last week Mr Packer's business partner, Lawrence Ho, said he expected China to ease visa curbs on tourists in coming months.
VIP revenues have also been stung as the operators of group gambling tours, who lend money to casino visitors, find it harder to get credit from banks.
Melco Crown has cut wages by about 8 per cent and forced its 3610 staff to choose between taking two and six months' unpaid leave.
The company plans to save $US25 million ($38 million), or 10 per cent of its salary base, by making staff stay home each month. Its only existing casino, Crown Macau, has also lost up to 10 per cent of its market share since April. (Credit: The Sydney Morning Herald)
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James Packer
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Casino Travel and Tourism
Gaming revenues in Macau slumped 7 per cent in the three months to December 31 to 24 billion patacas ($4.5 billion), compared to growth of up to 67 per cent in 2007. They include bets on table games and on poker machines in casinos.
The fall comes as Melco Crown Entertainment prepares to open its new $2.2 billion City of Dreams hotel and casino and as the ailing poker machine maker Aristocrat was pinning its hopes on increasing sales to the market.
Mr Packer is relying on the success of the City of Dreams to vindicate his decision to invest billions of dollars of his own money and investors' funds in Macau after his purchase of a casino licence for $1.3 billion.
Gaming revenues are expected to fall further this year with the Macau Government predicting they will average 21 billion patacas each quarter.
The 31 casinos in the former Portuguese colony responded to falling visitor numbers by closing 300 of the 4300 gaming tables and removing 1000 of the 12,800 poker machines in the quarter.
Aristocrat is the top supplier of machines to the Macau market, with more than 60 per cent of the market, giving it about 7000 machines. It had hoped that the total number of machines would grow to 35,000 in two years but this now appears unlikely.
It sold some machines to Mr Packer's City of Dreams casino, which aims to lure high rollers to its 500 tables when it opens in the middle of the year.
But it will have to compete with the established casinos for customers and will open in a virtual ghost town as neighbouring casino developments have been shelved due to the credit crisis and a downturn in the world's largest casino market.
Turnover on VIP baccarat games, which are the biggest single source of revenue in Macau, were the hardest hit in the past three months, falling by 9 per cent from 17.2 billion patacas to 15.6 billion, according to the Macau Gaming Inspection and Co-ordination Bureau. They had been as high as 21 billion patacas in the first quarter.
The VIP segment makes up about 66 per cent of gaming in Macau and is the biggest contributor to Melco Crown Entertainment's Macau casino.
The falls were expected as fewer gamblers visited from mainland China last year, after five consecutive moves to tighten visa restrictions by Beijing.
Last week Mr Packer's business partner, Lawrence Ho, said he expected China to ease visa curbs on tourists in coming months.
VIP revenues have also been stung as the operators of group gambling tours, who lend money to casino visitors, find it harder to get credit from banks.
Melco Crown has cut wages by about 8 per cent and forced its 3610 staff to choose between taking two and six months' unpaid leave.
The company plans to save $US25 million ($38 million), or 10 per cent of its salary base, by making staff stay home each month. Its only existing casino, Crown Macau, has also lost up to 10 per cent of its market share since April. (Credit: The Sydney Morning Herald)
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James Packer
Macau
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Sunday, 18 January 2009
Saturday, 17 January 2009
Friday, 16 January 2009
Travel and Tourism Profiles Updated
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Travel and Tourism
Thursday, 15 January 2009
Wednesday, 14 January 2009
Casino plans for more tourists - The Sydney Morning Herald - 14th January 2009
The head of the casino in Macau in which James Packer is a partner, Lawrence Ho, expects China to ease visa curbs on tourists to the former Portuguese colony in the next few months, which could boost the fortunes of local casino operators.
Mr Ho, the son of the gambling tycoon Stanley Ho, said the visit by the Chinese Vice-President Xi Jinping to Macau at the weekend was a good sign, even though Mr Xi was silent on the issue.
"I won't be surprised that there will be measures and policy announced in due course," Mr Ho told reporters.
"I think he would go back and discuss with others to find out what China can do to help Macau."
Macau is the only place in China where casinos are legal. Mr Xi had been widely expected to announce less restrictive visa policies for mainland gamblers. China last year repeatedly tightened the restrictions, which resulted in a 10 per cent drop in the city's gambling revenues for the third quarter.
Mr Ho said Melco Crown Entertainment, of which Mr Packer is the co-chairman with Mr Ho, would open its much-awaited City of Dreams project in the second quarter of the year. The $US2.1 billion ($3.1 billion) entertainment project on the Cotai Strip will recruit 7000 of its planned 10,000 employees in the next few weeks.
He said Melco was fortunate to have raised enough funds for the project before the global financial crisis.
Mr Ho said he was interested in casino projects in Taiwan, where a bill was passed on Monday legalising casinos on its islands. (Credit: The Sydney Morning Herald)
Media Man Australia Profiles
Crown Macau
Macau
Casino Travel and Tourism
James Packer
Casino News
Mr Ho, the son of the gambling tycoon Stanley Ho, said the visit by the Chinese Vice-President Xi Jinping to Macau at the weekend was a good sign, even though Mr Xi was silent on the issue.
"I won't be surprised that there will be measures and policy announced in due course," Mr Ho told reporters.
"I think he would go back and discuss with others to find out what China can do to help Macau."
Macau is the only place in China where casinos are legal. Mr Xi had been widely expected to announce less restrictive visa policies for mainland gamblers. China last year repeatedly tightened the restrictions, which resulted in a 10 per cent drop in the city's gambling revenues for the third quarter.
Mr Ho said Melco Crown Entertainment, of which Mr Packer is the co-chairman with Mr Ho, would open its much-awaited City of Dreams project in the second quarter of the year. The $US2.1 billion ($3.1 billion) entertainment project on the Cotai Strip will recruit 7000 of its planned 10,000 employees in the next few weeks.
He said Melco was fortunate to have raised enough funds for the project before the global financial crisis.
Mr Ho said he was interested in casino projects in Taiwan, where a bill was passed on Monday legalising casinos on its islands. (Credit: The Sydney Morning Herald)
Media Man Australia Profiles
Crown Macau
Macau
Casino Travel and Tourism
James Packer
Casino News
Tuesday, 13 January 2009
Monday, 12 January 2009
Sunday, 11 January 2009
Thursday, 8 January 2009
Travel and Tourism Profiles Updated
Media Man Australia Profiles
Casino Travel and Tourism
World Poker Tour
Australian Casinos
Eco Tourism
Travel and Tourism
Casino Travel and Tourism
World Poker Tour
Australian Casinos
Eco Tourism
Travel and Tourism
Wednesday, 7 January 2009
Tuesday, 6 January 2009
Sunday, 4 January 2009
We're bigger than Vegas, bet on it - 13th November 2008
Macau says it has overtaken the Las Vegas Strip as the world's biggest casino draw, raking in more than US7 billion ($A8.58 billion) in 2006.
The tiny southern Chinese enclave's 22 casinos generated 16.7 billion patacas in the final quarter, taking the year's total gross gaming revenues to 56.2 billion patacas ($A8.83 billion).
By comparison, the 40-odd casinos on Las Vegas' famous main strip - including the plush Venetian and MGM resorts - generated $US6.6 billion ($A8.09 billion).
Macau's renaissance from a crime-ridden territory with an ailing gaming sector was led by the Las Vegas Sands company, which opened the Macau Sands in 2004.
Other big American names to have taken advantage of the relaxed regulatory environment are Steve Wynn's resorts and MGM.
Australia's Crown casinos and Hong Kong's Galaxy have also opened gaming centres.
Analysts tipped in October that the city had overtaken Las Vegas, based on earnings projections.
But today's GDP figures are the first time that city officials have confirmed the historic development.
Gambling earnings have boomed in Macau since 2001 when the government ended tycoon Stanley Ho's 40 year monopoly on casinos in the city and allowed foreign operators to move in.
Ho, however, remains a dominant figure in the industry, also opening new casinos.
The result has been a sudden rush of up to $US25 billion ($A30.65 billion) of mostly American cash into the once moribund, century old local industry.
"This once again showcases that Macau continues to have an upward trajectory of tourism activity being led by the casino gaming industry," said analyst Jonathon Galaviz, a partner of Las Vegas-based Globalysis, which tracks world gaming and travel trends.
"And ... Macau's combination of GDP growth and casino revenue growth is continuing to be driven by significant growth in disposable income of mainland Chinese citizens," he said.
Growth has been fuelled by an explosive rise in tourism from China, following the relaxation of travel restrictions from the mainland in the wake of the former Portuguese enclave's reversion to Chinese rule in 1999.
A record 22 million people visited Macau in 2006, 12 million of them from mainland China and seven million from nearby Hong Kong.
Sands will open the Venetian Macau later this year, a 3,000 room hotel casino complex that will also feature 90,000 square metres of exhibition space and top-end retail.
It will be the centrepiece of the Cotai Strip, a 100,000 square metre gaming district built on a new reclamation that will eventually hold more than a dozen new casino resorts.
"Moving forward, the next major opportunity for upward growth will be with the Venetian opening in 2007," said Galaviz.
The gambling explosion has been a boon for the government too, which has reaped a goldmine in tax receipts, enabling the China-backed political leader Edmund Ho to cover his entire annual budget with casino revenue by the autumn.
"By all indications the Macau government is doing a good job of managing growth of the tourism sector and using the sector to generate macro economic GDP growth," said Galaviz.
Galaviz pointed out, however, that there are a few black spots on the horizon.
"Risks remain in 2007, such as increasing construction costs and tight labour markets - these are issues that will need to be addressed," he said.
Media Man Australia Profiles
Macau
Casino Travel and Tourism
Travel and Tourism
The tiny southern Chinese enclave's 22 casinos generated 16.7 billion patacas in the final quarter, taking the year's total gross gaming revenues to 56.2 billion patacas ($A8.83 billion).
By comparison, the 40-odd casinos on Las Vegas' famous main strip - including the plush Venetian and MGM resorts - generated $US6.6 billion ($A8.09 billion).
Macau's renaissance from a crime-ridden territory with an ailing gaming sector was led by the Las Vegas Sands company, which opened the Macau Sands in 2004.
Other big American names to have taken advantage of the relaxed regulatory environment are Steve Wynn's resorts and MGM.
Australia's Crown casinos and Hong Kong's Galaxy have also opened gaming centres.
Analysts tipped in October that the city had overtaken Las Vegas, based on earnings projections.
But today's GDP figures are the first time that city officials have confirmed the historic development.
Gambling earnings have boomed in Macau since 2001 when the government ended tycoon Stanley Ho's 40 year monopoly on casinos in the city and allowed foreign operators to move in.
Ho, however, remains a dominant figure in the industry, also opening new casinos.
The result has been a sudden rush of up to $US25 billion ($A30.65 billion) of mostly American cash into the once moribund, century old local industry.
"This once again showcases that Macau continues to have an upward trajectory of tourism activity being led by the casino gaming industry," said analyst Jonathon Galaviz, a partner of Las Vegas-based Globalysis, which tracks world gaming and travel trends.
"And ... Macau's combination of GDP growth and casino revenue growth is continuing to be driven by significant growth in disposable income of mainland Chinese citizens," he said.
Growth has been fuelled by an explosive rise in tourism from China, following the relaxation of travel restrictions from the mainland in the wake of the former Portuguese enclave's reversion to Chinese rule in 1999.
A record 22 million people visited Macau in 2006, 12 million of them from mainland China and seven million from nearby Hong Kong.
Sands will open the Venetian Macau later this year, a 3,000 room hotel casino complex that will also feature 90,000 square metres of exhibition space and top-end retail.
It will be the centrepiece of the Cotai Strip, a 100,000 square metre gaming district built on a new reclamation that will eventually hold more than a dozen new casino resorts.
"Moving forward, the next major opportunity for upward growth will be with the Venetian opening in 2007," said Galaviz.
The gambling explosion has been a boon for the government too, which has reaped a goldmine in tax receipts, enabling the China-backed political leader Edmund Ho to cover his entire annual budget with casino revenue by the autumn.
"By all indications the Macau government is doing a good job of managing growth of the tourism sector and using the sector to generate macro economic GDP growth," said Galaviz.
Galaviz pointed out, however, that there are a few black spots on the horizon.
"Risks remain in 2007, such as increasing construction costs and tight labour markets - these are issues that will need to be addressed," he said.
Media Man Australia Profiles
Macau
Casino Travel and Tourism
Travel and Tourism
Saturday, 3 January 2009
Friday, 2 January 2009
Thursday, 1 January 2009
Wednesday, 31 December 2008
Tourism industry told by Government: work bloody harder, by Greg Roberts and Lex Hall - The Australian - 31st December 2008
The Rudd Government has ruled out an assistance package for the troubled tourism sector, accusing the industry of not offering competitive packages to attract business.
Tourism chiefs yesterday appealed for a government financial package, similar to that handed to the car industry, after dire forecasts of a large drop in inbound tourism as the global economic crisis bites.
However, Tourism Minister Martin Ferguson said that operators should do more to help themselves.
"The retail industry has outcompeted the tourism industry hands-down when it comes to attracting the disposable dollar," he told The Australian.
"What we've seen is that people would rather buy a new sound system or a digital television than take a holiday. It's only very recently that we've seen an aggressive package from the tourism sector to attract business."
The comments by Mr Ferguson were made as Qantas announced the removal of its domestic fuel surcharge in an unexpected boost to the tourism industry.
Qantas's move came after a report by Tourism Australia's Tourism Forecasting Committee, revealed in The Australian yesterday, predicted a drop in the value of inbound tourism by almost 4 per cent next year because of the global downturn.
The forecast slump follows a poor performance this year, when $500 million was shaved off the value of the inbound tourism sector.
Japanese tourists in Sydney yesterday confirmed that Australia was losing its international appeal, blaming rising airfares and warning that more Japanese would stay at home as the economic crisis worsened.
"Korea and Bali are cheaper," said Nanaho Yoshida, walking in Sydney with two friends who had joined her for a short holiday. "More people are going there than before."
Miho Nomoto, from Saitama near Tokyo, said Japanese would look closer to home this year for holiday destinations.
With the downturn starting to bite, Australian Tourism Export Council chairman John King said there was a strong case for government help for hard-hit regional areas, similar to the $6.2billion package announced for the car industry.
"This is an industry which employs considerably more people than the car industry and is providing jobs in just about every community across the country," Mr King said.
Queensland Tourism Industry Council chief executive Daniel Gschwind said the economies of destinations such as Cairns, where the industry depended on foreign tourists, would be hurt badly.
"This downturn will cut deep into the incomes of communities that depend on tourism," Mr Gschwind said.
Tourism and Transport Forum executive director Olivia Wirth said although the Tourism Australia report forecast a recovery in 2010 after a slump next year, the downturn could be protracted.
"Governments need to consider a regional industry assistance package as well as moves to encourage Australians to holiday at home," she said.
Mr Ferguson said the industry had to boost the domestic sector. "People should not forget that 75 per cent of the industry is domestic and there are 121million days of accumulated annual leave in Australia," he said.
"The message to employers is that it is not smart to have $31billion worth of wages for that leave on your books."
Mr Ferguson said the domestic sector would be boosted by the low Australian dollar, which made it unattractive for Australians to travel overseas, and by falling fuel costs. "Our challenge is to maintain our international presence in what is going to be a very tough market while maximising domestic tourism opportunities."
One of the barometers of the strength of inbound tourism is how many Japanese couples travel to Australia to get married. About 65,000 Japanese couples go abroad each year
for Western-style weddings, according to Phillip Ford, managing director of South Pacific Bridal, Australia's largest wedding company.
However, the number of Japanese weddings at its purpose-built Angsana Chapel at Palm Cove Beach, Cairns, had dropped by about 65 per cent in the past two years.
"Two years ago, we were doing about 2000 weddings a year," he said. "Last year we did about 700 at the most," he told The Australian yesterday. "I think it'll drop off for sure."
Japanese couples could make huge savings by tying the knot in Australia, Mr Ford said. "A Japanese couple only pay about $33,000 to get married in Australia, whereas to do the same thing in Japan would cost about $100,000."
He echoed Mr Ferguson's criticisms of the tourism industry, saying Australia's inability to promote itself, coupled with the fuel surcharge, had prompted Japanese tourists to look at cheaper options.
"With what you pay in fuel charges, you can get a ticket to Guam," he said, adding that while the wedding market in Hawaii and Guam had not suffered, "Australia just wasn't fashionable anymore among Japanese."
Katsu Nojiri used to be Asia-Pacific branch manager at Watabe Wedding, the world's largest marriage service for couples getting married abroad.
Mr Nojiri quit Watabe Wedding three years ago because of the drop in demand.
"There were about 2500 Japanese weddings in Sydney in 2000," Mr Nojiri said. "That number has now dropped to about 200 to 250 weddings. That's why I got out of the business."
The plight of the tourism sector prompted Acting Prime Minister Julia Gillard yesterday to urge families to holiday in Australia. "The message from the Australian Government is very clear," she said. "There has never been a better time to holiday at home in Australia."
Additional reporting: Matthew Clayfield (Credit: The Australian)
Media Man Australia Profiles
Travel and Tourism
Tourism chiefs yesterday appealed for a government financial package, similar to that handed to the car industry, after dire forecasts of a large drop in inbound tourism as the global economic crisis bites.
However, Tourism Minister Martin Ferguson said that operators should do more to help themselves.
"The retail industry has outcompeted the tourism industry hands-down when it comes to attracting the disposable dollar," he told The Australian.
"What we've seen is that people would rather buy a new sound system or a digital television than take a holiday. It's only very recently that we've seen an aggressive package from the tourism sector to attract business."
The comments by Mr Ferguson were made as Qantas announced the removal of its domestic fuel surcharge in an unexpected boost to the tourism industry.
Qantas's move came after a report by Tourism Australia's Tourism Forecasting Committee, revealed in The Australian yesterday, predicted a drop in the value of inbound tourism by almost 4 per cent next year because of the global downturn.
The forecast slump follows a poor performance this year, when $500 million was shaved off the value of the inbound tourism sector.
Japanese tourists in Sydney yesterday confirmed that Australia was losing its international appeal, blaming rising airfares and warning that more Japanese would stay at home as the economic crisis worsened.
"Korea and Bali are cheaper," said Nanaho Yoshida, walking in Sydney with two friends who had joined her for a short holiday. "More people are going there than before."
Miho Nomoto, from Saitama near Tokyo, said Japanese would look closer to home this year for holiday destinations.
With the downturn starting to bite, Australian Tourism Export Council chairman John King said there was a strong case for government help for hard-hit regional areas, similar to the $6.2billion package announced for the car industry.
"This is an industry which employs considerably more people than the car industry and is providing jobs in just about every community across the country," Mr King said.
Queensland Tourism Industry Council chief executive Daniel Gschwind said the economies of destinations such as Cairns, where the industry depended on foreign tourists, would be hurt badly.
"This downturn will cut deep into the incomes of communities that depend on tourism," Mr Gschwind said.
Tourism and Transport Forum executive director Olivia Wirth said although the Tourism Australia report forecast a recovery in 2010 after a slump next year, the downturn could be protracted.
"Governments need to consider a regional industry assistance package as well as moves to encourage Australians to holiday at home," she said.
Mr Ferguson said the industry had to boost the domestic sector. "People should not forget that 75 per cent of the industry is domestic and there are 121million days of accumulated annual leave in Australia," he said.
"The message to employers is that it is not smart to have $31billion worth of wages for that leave on your books."
Mr Ferguson said the domestic sector would be boosted by the low Australian dollar, which made it unattractive for Australians to travel overseas, and by falling fuel costs. "Our challenge is to maintain our international presence in what is going to be a very tough market while maximising domestic tourism opportunities."
One of the barometers of the strength of inbound tourism is how many Japanese couples travel to Australia to get married. About 65,000 Japanese couples go abroad each year
for Western-style weddings, according to Phillip Ford, managing director of South Pacific Bridal, Australia's largest wedding company.
However, the number of Japanese weddings at its purpose-built Angsana Chapel at Palm Cove Beach, Cairns, had dropped by about 65 per cent in the past two years.
"Two years ago, we were doing about 2000 weddings a year," he said. "Last year we did about 700 at the most," he told The Australian yesterday. "I think it'll drop off for sure."
Japanese couples could make huge savings by tying the knot in Australia, Mr Ford said. "A Japanese couple only pay about $33,000 to get married in Australia, whereas to do the same thing in Japan would cost about $100,000."
He echoed Mr Ferguson's criticisms of the tourism industry, saying Australia's inability to promote itself, coupled with the fuel surcharge, had prompted Japanese tourists to look at cheaper options.
"With what you pay in fuel charges, you can get a ticket to Guam," he said, adding that while the wedding market in Hawaii and Guam had not suffered, "Australia just wasn't fashionable anymore among Japanese."
Katsu Nojiri used to be Asia-Pacific branch manager at Watabe Wedding, the world's largest marriage service for couples getting married abroad.
Mr Nojiri quit Watabe Wedding three years ago because of the drop in demand.
"There were about 2500 Japanese weddings in Sydney in 2000," Mr Nojiri said. "That number has now dropped to about 200 to 250 weddings. That's why I got out of the business."
The plight of the tourism sector prompted Acting Prime Minister Julia Gillard yesterday to urge families to holiday in Australia. "The message from the Australian Government is very clear," she said. "There has never been a better time to holiday at home in Australia."
Additional reporting: Matthew Clayfield (Credit: The Australian)
Media Man Australia Profiles
Travel and Tourism
Tuesday, 30 December 2008
Australian tourism set for a pounding - 30th December 2008
Australia's tourism industry is headed for a tough year on the back of the global financial crisis with a drop in the number of foreign visitors expected, a new report shows.
According to the Tourism Australia report, to be released today, the value of inbound tourism is expected to drop by four per cent, or $500 million, to $24 billion.
The number of visitors is forecast to fall from 5.56 million to 5.33 million with next year shaping as the industry's worst since 1989, The Australian newspaper reports.
The organisation's Tourism Forecasting Committee chairman Bernard Salt said less Australians were also travelling overseas.
"There is no doubt that tourism operators who are heavily reliant on international tourism are in for a tough time in 2009," he said.
Media Man Australia Profiles
Travel and Tourism
Financial News
According to the Tourism Australia report, to be released today, the value of inbound tourism is expected to drop by four per cent, or $500 million, to $24 billion.
The number of visitors is forecast to fall from 5.56 million to 5.33 million with next year shaping as the industry's worst since 1989, The Australian newspaper reports.
The organisation's Tourism Forecasting Committee chairman Bernard Salt said less Australians were also travelling overseas.
"There is no doubt that tourism operators who are heavily reliant on international tourism are in for a tough time in 2009," he said.
Media Man Australia Profiles
Travel and Tourism
Financial News
Monday, 29 December 2008
Place your wager on Macau, by Edan Corkill - The Japan Times - 28th December 2008
Portugal, Venice meet Las Vegas, Disney in new megaresort built on filled sea strip
A charitable take on Tokyo's landfill projects would have them simply extending the city's alluvial plains into Tokyo Bay. Given another millennium or two, natural siltation might end up doing the same thing.
By comparison, it's hard to think of any natural phenomenon that would result in the emergence of a trampoline-flat, 5-sq.-km plateau, filling the stretch of sea between what used to be two separate islands.
Welcome to the Cotai Strip, in the Special Administrative Region of Macau.
The name Cotai is as artificial as the man-made land to which it refers — it's a combination of Coloane and Taipa, the names of the two islands it joins. (The third island that makes up the Macau S.A.R. is called Macau.)
Cotai is a very odd place: in the middle of the ocean and yet as flat and as barren as Nevada. In a few years' time, it will have almost as many casinos as that U.S. state. I went at the end of November, and stayed at the Venetian Macao Resort Hotel, the third of about 12 mega casino-hotel resorts scheduled to open in the area over the next decade — although the current financial crisis is already delaying some of the construction work.
The Venetian is a behemoth of a building. The latest listing on Wikipedia says it's the third-largest in the world in terms of area, more than 1.5 times larger than the Pentagon. And yet, for such a soaring 40-story edifice there is something about this pastel-colored palace that makes it seem utterly unreal, like a film set. If I hadn't actually stayed in one of its 3,000 suites, I would have sworn it was nothing but a wooden facade tacked onto a scaffolding frame.
There are many things about the Venetian that seem bent on loosening one's grip on reality.
The St. Mark's Campanile tower and Rialto Bridge that stand out the front of the hotel almost had me forgetting which hemisphere I was in — until the hotel's public-relations representative reassuringly explained they are "just imitations" of the historical attractions in Venice.
And, of course, everything from the Venetian's hotel to its restaurants, bars, shops, 15,000-seat entertainment arena and casino are all housed within a single climate-controlled environment. Yes, you could survive in there for days without breathing fresh air or feeling the sun's rays — or even seeing a clock, because, as in most casinos, there are none to be found here. But the assault on one's sense of reality comes in more subtle ways as well.
The mix of nationalities in the staff almost had me thinking I was back in Epcot Center at Disney World in Florida. My Nepalese waitress at breakfast told me that more than 50 nationalities are represented. I thought I had gone back in time, or into some weird dream at least, when I arrived at the casino. I'd only managed about 10 strides into the place when my arm was grabbed and I was presented with the bountiful bosom of a young woman offering me a massage. About ¥12,000 was apparently all she — or her half-dozen colleagues who quickly gathered around — would charge to provide me with an hour of, ah, massaging. The same PR representative from the Venetian said the staff couldn't distinguish these — to my eyes, at least — unmistakably short-skirted and magnificently made-up beauties from other patrons, and thus had no policy of curtailing their solicitations on the casino floor.
Then there was the gambling. Compared with Las Vegas, there is something otherworldly about the way that the Macau clientele (which is reportedly 60 percent mainland Chinese) bet.
Games like poker, which are popular in Las Vegas, test the skill of the players, thus heightening rather than relaxing one's grip on our current dog-eat-dog, capitalist brand of reality. But watching the Macau gamblers throw money at games of luck — such as the dice game "big and small" — was nothing short of surreal.
Take, for example, roulette. It had never occurred to me that the table part of this refined form of entertainment could be made to resemble a scale model of Manhattan — albeit minus Central Park. The first time I played, I realized too late I had placed my chips too early. By the time the dealer said "no more bets" my modest stake had been surrounded on all sides (including above) by 30- and 40-chip-high towers.
Invariably, of course, the croupier managed to hit the one plot of land overlooked by these would-be property tycoons, meaning he had to do the job of an earth-mover to shunt all the house winnings into the bank.
It's thus not surprising to read that Macau's casinos overtook Las Vegas' for gambling revenues back in 2006 — when their takings topped $6.9 billion (compared to Vegas' almost $6.7 billion).
According to the Japan Association of Travel Agents, Macau is one of the only overseas destinations that have seen increases in Japanese visitors over the last two years. In fact, it is expected to lure more than 360,000 from these islands this year, compared with 85,000 in 2003.
It's no coincidence that it was in 2004 that the first of the foreign-owned casinos opened in the region. Up until then, Macau businessman Stanley Ho had enjoyed a monopoly on the market with his Hotel Lisboa, which opened in 1970 and had the sole gambling license.
The Lisboa was and still is on the main island of Macau. It has now been joined by properties including the Sands Macao, Wynn Macau and MGM Grand Macau, which opened on the island between 2004 and 2007. The rush of development on the man-made strip of Cotai only began in 2006.
But as an official from the Macau Tourist Organization who recently visited Tokyo was very keen to explain, Macau has more going for it than casinos. Her enthusiasm prompted one fellow hack to wonder out loud why they "bother trying to attract noncasino visitors when the casinos are already giving the hotels 95 percent occupancy rates?"
One reason to visit or for Macau to attract nongambling tourists is that the World Heritage-listed former Portuguese area of Macau island is astoundingly beautiful. For Japan residents, its cobbled streets, stone and brick buildings, town squares and churches are the closest thing you will get to Europe this side of Greece.
Not that mere verisimilitude with faraway lands is a virtue in itself (witness The Venetian's Venice). But the almost 500 years of Portuguese presence has resulted in a truly fascinating blend of everything from the architecture to the food to, I dare say it, the gene pool. One wonders if it will take 500 years for Japan's increasing foreign population to make its citizens as ethnically complex as the Macanese.
Another attraction for which it is worth extricating yourself from the Venetian or your choice of casino-resort is Macau Tower, which offers a quick means to get your bearings, but also has several types of high-flying attractions for thrill-seekers. Not only can you launch yourself headfirst from the tower in a conventional bungee jump, but you can put yourself in a harness and free-fall — feetfirst — for about 50 meters before being lowered the remaining 180 meters to the ground.
If you're not interested in flying, but nevertheless feel compelled to breathe the air 230 meters above Macau, you can also walk around the top of the tower while chained to a harness. Despite what tourism officials would have you believe, it is still the gambling that makes Macau such a popular destination, and no trip to the place would be incomplete without a stop at the casino that started it all: the Hotel Lisboa.
Where the foreign-owned casinos offer only slightly China-ized versions of the formula they have perfected in Las Vegas, the original Lisboa is something different altogether.
Its black marble floors, gold balustrades, mirrors, fountains, its jade sculptures, peacock sculptures in gold, mother-of-pearl tiles on the walls and lights held up by dragons make it one of the most intense interiors you're likely to come across, anywhere.
Built almost 40 years ago, the Lisboa also has the smaller, more intimate gambling rooms that were in vogue at the time. Compared with the convention-center layouts of more recent casinos, it is a far more ingratiating environment in which to, well, lose your money.
This month, Lisboa opened its Grand Lisboa across the road from the original venue. It takes all the gaudy ostentation of the first hotel and multiplies it by about the same odds to 1 against being dealt a straight flush.
If there's anything which signals the direction that this strange little cluster of islands on the edge of mainland China is heading in the future, it's this: a 250-meter-high skyscraper shaped to resemble a lotus flower spreading its petals in bloom.
Media Man Australia Profiles
Macau
Casino Travel and Tourism
Travel and Tourism
A charitable take on Tokyo's landfill projects would have them simply extending the city's alluvial plains into Tokyo Bay. Given another millennium or two, natural siltation might end up doing the same thing.
By comparison, it's hard to think of any natural phenomenon that would result in the emergence of a trampoline-flat, 5-sq.-km plateau, filling the stretch of sea between what used to be two separate islands.
Welcome to the Cotai Strip, in the Special Administrative Region of Macau.
The name Cotai is as artificial as the man-made land to which it refers — it's a combination of Coloane and Taipa, the names of the two islands it joins. (The third island that makes up the Macau S.A.R. is called Macau.)
Cotai is a very odd place: in the middle of the ocean and yet as flat and as barren as Nevada. In a few years' time, it will have almost as many casinos as that U.S. state. I went at the end of November, and stayed at the Venetian Macao Resort Hotel, the third of about 12 mega casino-hotel resorts scheduled to open in the area over the next decade — although the current financial crisis is already delaying some of the construction work.
The Venetian is a behemoth of a building. The latest listing on Wikipedia says it's the third-largest in the world in terms of area, more than 1.5 times larger than the Pentagon. And yet, for such a soaring 40-story edifice there is something about this pastel-colored palace that makes it seem utterly unreal, like a film set. If I hadn't actually stayed in one of its 3,000 suites, I would have sworn it was nothing but a wooden facade tacked onto a scaffolding frame.
There are many things about the Venetian that seem bent on loosening one's grip on reality.
The St. Mark's Campanile tower and Rialto Bridge that stand out the front of the hotel almost had me forgetting which hemisphere I was in — until the hotel's public-relations representative reassuringly explained they are "just imitations" of the historical attractions in Venice.
And, of course, everything from the Venetian's hotel to its restaurants, bars, shops, 15,000-seat entertainment arena and casino are all housed within a single climate-controlled environment. Yes, you could survive in there for days without breathing fresh air or feeling the sun's rays — or even seeing a clock, because, as in most casinos, there are none to be found here. But the assault on one's sense of reality comes in more subtle ways as well.
The mix of nationalities in the staff almost had me thinking I was back in Epcot Center at Disney World in Florida. My Nepalese waitress at breakfast told me that more than 50 nationalities are represented. I thought I had gone back in time, or into some weird dream at least, when I arrived at the casino. I'd only managed about 10 strides into the place when my arm was grabbed and I was presented with the bountiful bosom of a young woman offering me a massage. About ¥12,000 was apparently all she — or her half-dozen colleagues who quickly gathered around — would charge to provide me with an hour of, ah, massaging. The same PR representative from the Venetian said the staff couldn't distinguish these — to my eyes, at least — unmistakably short-skirted and magnificently made-up beauties from other patrons, and thus had no policy of curtailing their solicitations on the casino floor.
Then there was the gambling. Compared with Las Vegas, there is something otherworldly about the way that the Macau clientele (which is reportedly 60 percent mainland Chinese) bet.
Games like poker, which are popular in Las Vegas, test the skill of the players, thus heightening rather than relaxing one's grip on our current dog-eat-dog, capitalist brand of reality. But watching the Macau gamblers throw money at games of luck — such as the dice game "big and small" — was nothing short of surreal.
Take, for example, roulette. It had never occurred to me that the table part of this refined form of entertainment could be made to resemble a scale model of Manhattan — albeit minus Central Park. The first time I played, I realized too late I had placed my chips too early. By the time the dealer said "no more bets" my modest stake had been surrounded on all sides (including above) by 30- and 40-chip-high towers.
Invariably, of course, the croupier managed to hit the one plot of land overlooked by these would-be property tycoons, meaning he had to do the job of an earth-mover to shunt all the house winnings into the bank.
It's thus not surprising to read that Macau's casinos overtook Las Vegas' for gambling revenues back in 2006 — when their takings topped $6.9 billion (compared to Vegas' almost $6.7 billion).
According to the Japan Association of Travel Agents, Macau is one of the only overseas destinations that have seen increases in Japanese visitors over the last two years. In fact, it is expected to lure more than 360,000 from these islands this year, compared with 85,000 in 2003.
It's no coincidence that it was in 2004 that the first of the foreign-owned casinos opened in the region. Up until then, Macau businessman Stanley Ho had enjoyed a monopoly on the market with his Hotel Lisboa, which opened in 1970 and had the sole gambling license.
The Lisboa was and still is on the main island of Macau. It has now been joined by properties including the Sands Macao, Wynn Macau and MGM Grand Macau, which opened on the island between 2004 and 2007. The rush of development on the man-made strip of Cotai only began in 2006.
But as an official from the Macau Tourist Organization who recently visited Tokyo was very keen to explain, Macau has more going for it than casinos. Her enthusiasm prompted one fellow hack to wonder out loud why they "bother trying to attract noncasino visitors when the casinos are already giving the hotels 95 percent occupancy rates?"
One reason to visit or for Macau to attract nongambling tourists is that the World Heritage-listed former Portuguese area of Macau island is astoundingly beautiful. For Japan residents, its cobbled streets, stone and brick buildings, town squares and churches are the closest thing you will get to Europe this side of Greece.
Not that mere verisimilitude with faraway lands is a virtue in itself (witness The Venetian's Venice). But the almost 500 years of Portuguese presence has resulted in a truly fascinating blend of everything from the architecture to the food to, I dare say it, the gene pool. One wonders if it will take 500 years for Japan's increasing foreign population to make its citizens as ethnically complex as the Macanese.
Another attraction for which it is worth extricating yourself from the Venetian or your choice of casino-resort is Macau Tower, which offers a quick means to get your bearings, but also has several types of high-flying attractions for thrill-seekers. Not only can you launch yourself headfirst from the tower in a conventional bungee jump, but you can put yourself in a harness and free-fall — feetfirst — for about 50 meters before being lowered the remaining 180 meters to the ground.
If you're not interested in flying, but nevertheless feel compelled to breathe the air 230 meters above Macau, you can also walk around the top of the tower while chained to a harness. Despite what tourism officials would have you believe, it is still the gambling that makes Macau such a popular destination, and no trip to the place would be incomplete without a stop at the casino that started it all: the Hotel Lisboa.
Where the foreign-owned casinos offer only slightly China-ized versions of the formula they have perfected in Las Vegas, the original Lisboa is something different altogether.
Its black marble floors, gold balustrades, mirrors, fountains, its jade sculptures, peacock sculptures in gold, mother-of-pearl tiles on the walls and lights held up by dragons make it one of the most intense interiors you're likely to come across, anywhere.
Built almost 40 years ago, the Lisboa also has the smaller, more intimate gambling rooms that were in vogue at the time. Compared with the convention-center layouts of more recent casinos, it is a far more ingratiating environment in which to, well, lose your money.
This month, Lisboa opened its Grand Lisboa across the road from the original venue. It takes all the gaudy ostentation of the first hotel and multiplies it by about the same odds to 1 against being dealt a straight flush.
If there's anything which signals the direction that this strange little cluster of islands on the edge of mainland China is heading in the future, it's this: a 250-meter-high skyscraper shaped to resemble a lotus flower spreading its petals in bloom.
Media Man Australia Profiles
Macau
Casino Travel and Tourism
Travel and Tourism
Sunday, 28 December 2008
Saturday, 27 December 2008
Friday, 26 December 2008
Thursday, 25 December 2008
Wednesday, 24 December 2008
Tuesday, 23 December 2008
Monday, 22 December 2008
Sunday, 21 December 2008
Saturday, 20 December 2008
Friday, 19 December 2008
Delta to compete with Qantas on Sydney-LA route, by Scott Rochfort - The Sydney Morning Herald - 19th December 2008
The world's biggest carrier Delta Air Lines has confirmed its plans to launch flights from Los Angeles to Sydney in July next year, a move tipped to trigger the first serious air fare battle on the Qantas-dominated route in more than a decade.
- Fares battle looms on key route
- Qantas faces competition
- Prices topple as carriers stake claim
Delta announced overnight it would commence a daily Boeing 777-200 flight on the route on July 1.
Combined with V Australia's plans to fly to LA in February, Delta's arrival is not only expected to boost the number of seats on the route but also dramatically lower airfares.
V Australia already appears to have pre-empted Delta's announcement by slashing its fares by 45 per cent through its $1199 fare (including taxes) sale which was launched on Wednesday.
Delta is yet to announce what introductory fares it will offer from Sydney. But from the US, Delta is offering one-way fares from LA to Sydney for US$499 ($730) including taxes.
The launch of the Sydney service will make Delta the first US airline, since the now defunct Pan Am, to fly to six continents.
Delta has also held talks with Melbourne Airport. But one factor preventing Delta flying into Victoria is its Boeing 777-200LR aircraft, which do not have the range to fly to LA-Melbourne with a full-load.
"Naturally we will be talking to them to use larger planes and come to Melbourne," a spokeswoman for Melbourne Airport said.
Melbourne Airport, in its proposal to Delta, argued that unlike Sydney it was not restricted by a curfew. The airport also pointed out it has 40 per cent lower landing and aircraft-related costs than the Macquarie-controlled Sydney.
Delta and V Australia's entry will end the cosy duopoly enjoyed by Qantas and United Airlines on the route since Air New Zealand suspended its Sydney to LA service in 2003.
But the US carrier's entry is set to frustrate V Australia's launch on the route.
V Australia has already pushed back its launch date from December to February, and Delta's entry, coupled with the global economic slowdown, could make it even tougher for the Virgin Blue long-haul airline to make a profit on the route.
Aside from flooding the route with more seats, Delta could capture more traffic given its membership of the world's second largest airline alliance, SkyTeam. Unlike V Australia, it is also a well-known brand in the US.
Delta's entry could also spell an end to the bumper profits and domination Qantas has enjoyed over the route for the past decade.
A spokesman for the federal Minister for Transport, Anthony Albanese, said the Government was yet to hold talks with the airline.
But thanks to an open skies treaty signed between Australia and the US early this year, Delta will have the right to start daily services almost immediately. United Airlines is the only other mainland US carrier to fly direct services on the route, from which Qantas makes an estimated 20 per cent of its profits.
The number of seats on the route is already set to increase on route even without V Australia and Delta's entry. Qantas has recently deployed its second A380 superjumbo on the route, which has 100 more seats than the 350-odd seat 747-400s it has used on the route since the early 1990s.
Delta's arrival has been a welcome boost to the flagging Australian tourism sector, which is bracing itself for a slump in international arrivals due to the global economic crisis. But coupled with the recent fall in the Australian dollar there are hopes it could inject some life into Australia's fourth largest source of international tourists.
"We're going to be doing it tough in 2009 so any additional competition on the LA-Sydney route will stimulate the market," said Tourism and Transport Forum executive director Olivia Wirth. Around 370,000 Americans visit Australia each year.
"At the moment we're seeing greater competition in airfares not only in Australia but worldwide," she said.
It is believed Delta's entry could be a byproduct of its merger in October with US rival Northwest Airlines, which made it the largest airline in the world.
As both airlines eliminate overlaps in their respective networks, they now have surplus aircraft to put on new routes, such as to Sydney.
Delta's entry could also thwart Singapore Airlines' hopes of ever gaining permission to fly the route. The Asian carrier has been attempting to gain entry on the route since 1996. Its appeals were knocked back by the Howard Government in 2007, when Virgin Blue signalled its intention to fly to LA. Early this month, Transport Minister Anthony Albanese said he would continue to block Singapore Air from the route despite Australia having a free trade agreement with the South East Asian nation.
A Singapore Airlines commissioned economic survey in 2005 claimed the lack of competition on the LA route was costing Australia $126 million in lost tourism revenue each year. The Econtech report claimed the entry of just one daily service by a new competitor - against Qantas and United - would bring 48,000 extra US tourists to Australia annually. The report also found that airfares on the LA route were substantially higher than those on the highly competitive Sydney-London route, where more than 30 airlines compete.
The study claimed economy fares per kilometre on the Los Angeles route were 17 per cent more expensive than for flights to London. The report said the fare per kilometre to Los Angeles (12,000 kilometres from Sydney) was 8.9c compared with 7.6c for London (20,000 kilometres from Sydney).
Qantas declined to comment on Delta's entry and is yet to announce any new seat sales to LA.
(Credit: The Sydney Morning Herald)
Media Man Australia Profiles
Travel and Tourism
Aviation
- Fares battle looms on key route
- Qantas faces competition
- Prices topple as carriers stake claim
Delta announced overnight it would commence a daily Boeing 777-200 flight on the route on July 1.
Combined with V Australia's plans to fly to LA in February, Delta's arrival is not only expected to boost the number of seats on the route but also dramatically lower airfares.
V Australia already appears to have pre-empted Delta's announcement by slashing its fares by 45 per cent through its $1199 fare (including taxes) sale which was launched on Wednesday.
Delta is yet to announce what introductory fares it will offer from Sydney. But from the US, Delta is offering one-way fares from LA to Sydney for US$499 ($730) including taxes.
The launch of the Sydney service will make Delta the first US airline, since the now defunct Pan Am, to fly to six continents.
Delta has also held talks with Melbourne Airport. But one factor preventing Delta flying into Victoria is its Boeing 777-200LR aircraft, which do not have the range to fly to LA-Melbourne with a full-load.
"Naturally we will be talking to them to use larger planes and come to Melbourne," a spokeswoman for Melbourne Airport said.
Melbourne Airport, in its proposal to Delta, argued that unlike Sydney it was not restricted by a curfew. The airport also pointed out it has 40 per cent lower landing and aircraft-related costs than the Macquarie-controlled Sydney.
Delta and V Australia's entry will end the cosy duopoly enjoyed by Qantas and United Airlines on the route since Air New Zealand suspended its Sydney to LA service in 2003.
But the US carrier's entry is set to frustrate V Australia's launch on the route.
V Australia has already pushed back its launch date from December to February, and Delta's entry, coupled with the global economic slowdown, could make it even tougher for the Virgin Blue long-haul airline to make a profit on the route.
Aside from flooding the route with more seats, Delta could capture more traffic given its membership of the world's second largest airline alliance, SkyTeam. Unlike V Australia, it is also a well-known brand in the US.
Delta's entry could also spell an end to the bumper profits and domination Qantas has enjoyed over the route for the past decade.
A spokesman for the federal Minister for Transport, Anthony Albanese, said the Government was yet to hold talks with the airline.
But thanks to an open skies treaty signed between Australia and the US early this year, Delta will have the right to start daily services almost immediately. United Airlines is the only other mainland US carrier to fly direct services on the route, from which Qantas makes an estimated 20 per cent of its profits.
The number of seats on the route is already set to increase on route even without V Australia and Delta's entry. Qantas has recently deployed its second A380 superjumbo on the route, which has 100 more seats than the 350-odd seat 747-400s it has used on the route since the early 1990s.
Delta's arrival has been a welcome boost to the flagging Australian tourism sector, which is bracing itself for a slump in international arrivals due to the global economic crisis. But coupled with the recent fall in the Australian dollar there are hopes it could inject some life into Australia's fourth largest source of international tourists.
"We're going to be doing it tough in 2009 so any additional competition on the LA-Sydney route will stimulate the market," said Tourism and Transport Forum executive director Olivia Wirth. Around 370,000 Americans visit Australia each year.
"At the moment we're seeing greater competition in airfares not only in Australia but worldwide," she said.
It is believed Delta's entry could be a byproduct of its merger in October with US rival Northwest Airlines, which made it the largest airline in the world.
As both airlines eliminate overlaps in their respective networks, they now have surplus aircraft to put on new routes, such as to Sydney.
Delta's entry could also thwart Singapore Airlines' hopes of ever gaining permission to fly the route. The Asian carrier has been attempting to gain entry on the route since 1996. Its appeals were knocked back by the Howard Government in 2007, when Virgin Blue signalled its intention to fly to LA. Early this month, Transport Minister Anthony Albanese said he would continue to block Singapore Air from the route despite Australia having a free trade agreement with the South East Asian nation.
A Singapore Airlines commissioned economic survey in 2005 claimed the lack of competition on the LA route was costing Australia $126 million in lost tourism revenue each year. The Econtech report claimed the entry of just one daily service by a new competitor - against Qantas and United - would bring 48,000 extra US tourists to Australia annually. The report also found that airfares on the LA route were substantially higher than those on the highly competitive Sydney-London route, where more than 30 airlines compete.
The study claimed economy fares per kilometre on the Los Angeles route were 17 per cent more expensive than for flights to London. The report said the fare per kilometre to Los Angeles (12,000 kilometres from Sydney) was 8.9c compared with 7.6c for London (20,000 kilometres from Sydney).
Qantas declined to comment on Delta's entry and is yet to announce any new seat sales to LA.
(Credit: The Sydney Morning Herald)
Media Man Australia Profiles
Travel and Tourism
Aviation
Tough times hit China's gambling capital, by Maureen Fan - Fairfax - 19th December 2008
The laid-off worker from Hunan province hung back from the baccarat table as his wife placed bets. He sipped water and explained how he justified travelling to this former Portuguese colony on China's southern coast - the only place in the country where gambling is legal - and blowing $US450 ($650) in savings there.
"We are not rich, so we took a train to Guangzhou first, then we took a bus to Zhuhai [bordering Macau]," Zhang, 50, who would give only one name, said as he scanned half-empty tables at the huge casino known as the Venetian Macao. "We are staying in a hotel that costs only $US15 a day, and we eat from food vendors for no more than $US3 a meal. We don't buy anything here."
Four years ago, gamblers broke down the doors of the newest casinos to race for seats. Two years ago, Macau raked in $US7 billion in annual casino revenue, surpassing the Las Vegas Strip as the world's biggest gambling centre. Officials hoped that would help transform the seedy, sleepy enclave into a convention and family entertainment centre.
But today, Communist Party officials who once welcomed US companies such as MGM Mirage and Las Vegas Sands, and James Packer's Crown Macau, have put the brakes on the millions of mainland visitors who flow into the territory and, like Zhang, appear to give their cash away to foreign companies without investing in Macau.
Most mainland residents, who make up more than half of Macau's visitors, are now allowed only one visit every three months, under a policy from China's Public Security Ministry. Access from Hong Kong, an hour's ferry ride away, has also been sharply restricted by Macau authorities. And mainland visitors en route to another Asian city, who used to be able to stay in Macau for two weeks, can now stay only a week.
In some establishments business has fallen by half. The number of individual tourists - those not travelling on business or as part of a tour group - fell to 470,049 in October, a 26 per cent drop from the previous October, according to Macau's Statistics and Census Service.
"From August onward, our customers have been reduced by half," said Emily Chen, manager of Macau's Seven Seas Travel Agency.
"Because most of the casinos here depend on mainland tourists, the money flows out continuously from China to foreign countries. That's why the Government wants to control it."
The Government in Beijing is also trying to get a handle on the corruption and money laundering long associated with the territory, which was returned to China in 1999. State media reports on officials caught up in bribery scandals often cite repeated visits to Macau; a former economic planner for the city of Xiangtan, in Hunan, was sentenced in May to 19 years in prison for blowing $US219,000 of public money during 36 visits there since 2002.
But authorities may also be trying to temper Macau's boom because of concerns about whether the territory was growing too quickly.
The Washington Post
(Credit: Fairfax)
Media Man Australia Profiles
Macau
Casino Travel and Tourism
Casino News
"We are not rich, so we took a train to Guangzhou first, then we took a bus to Zhuhai [bordering Macau]," Zhang, 50, who would give only one name, said as he scanned half-empty tables at the huge casino known as the Venetian Macao. "We are staying in a hotel that costs only $US15 a day, and we eat from food vendors for no more than $US3 a meal. We don't buy anything here."
Four years ago, gamblers broke down the doors of the newest casinos to race for seats. Two years ago, Macau raked in $US7 billion in annual casino revenue, surpassing the Las Vegas Strip as the world's biggest gambling centre. Officials hoped that would help transform the seedy, sleepy enclave into a convention and family entertainment centre.
But today, Communist Party officials who once welcomed US companies such as MGM Mirage and Las Vegas Sands, and James Packer's Crown Macau, have put the brakes on the millions of mainland visitors who flow into the territory and, like Zhang, appear to give their cash away to foreign companies without investing in Macau.
Most mainland residents, who make up more than half of Macau's visitors, are now allowed only one visit every three months, under a policy from China's Public Security Ministry. Access from Hong Kong, an hour's ferry ride away, has also been sharply restricted by Macau authorities. And mainland visitors en route to another Asian city, who used to be able to stay in Macau for two weeks, can now stay only a week.
In some establishments business has fallen by half. The number of individual tourists - those not travelling on business or as part of a tour group - fell to 470,049 in October, a 26 per cent drop from the previous October, according to Macau's Statistics and Census Service.
"From August onward, our customers have been reduced by half," said Emily Chen, manager of Macau's Seven Seas Travel Agency.
"Because most of the casinos here depend on mainland tourists, the money flows out continuously from China to foreign countries. That's why the Government wants to control it."
The Government in Beijing is also trying to get a handle on the corruption and money laundering long associated with the territory, which was returned to China in 1999. State media reports on officials caught up in bribery scandals often cite repeated visits to Macau; a former economic planner for the city of Xiangtan, in Hunan, was sentenced in May to 19 years in prison for blowing $US219,000 of public money during 36 visits there since 2002.
But authorities may also be trying to temper Macau's boom because of concerns about whether the territory was growing too quickly.
The Washington Post
(Credit: Fairfax)
Media Man Australia Profiles
Macau
Casino Travel and Tourism
Casino News
THE 2009 AUSSIE MILLIONS POKER CHAMPIONSHIP – JANUARY, 2009
Destination: Australia
The Biggest Event in the Southern Hemisphere is being brought to you by The Best Poker Room in the Southern Hemisphere!
Win a $15,000 Prize Package to the 2009 Aussie Millions. Centrebet Poker has multiple packages to be won. With a guaranteed first prize of AU$2 Million, the latest season of the Aussie Millions will be breaking Southern Hemisphere records!
Don’t you want to make sure your destination is Australia?
Each $15,000 Prize Package includes:
Buy-in to the Main Event (worth AU$10,500) – January 18th, 2009
8 Nights Accommodation at the Crown Promenade Hotel (January 17th – 25th, 2009)
Funds toward Travel and Spending
And we’ve got THREE DIFFERENT WAYS for you to win a package:
More information via
Centrebet
Media Man Australia Profiles
Centrebet
Aussie Millions
Crown Casino
Casino News
The Biggest Event in the Southern Hemisphere is being brought to you by The Best Poker Room in the Southern Hemisphere!
Win a $15,000 Prize Package to the 2009 Aussie Millions. Centrebet Poker has multiple packages to be won. With a guaranteed first prize of AU$2 Million, the latest season of the Aussie Millions will be breaking Southern Hemisphere records!
Don’t you want to make sure your destination is Australia?
Each $15,000 Prize Package includes:
Buy-in to the Main Event (worth AU$10,500) – January 18th, 2009
8 Nights Accommodation at the Crown Promenade Hotel (January 17th – 25th, 2009)
Funds toward Travel and Spending
And we’ve got THREE DIFFERENT WAYS for you to win a package:
More information via
Centrebet
Media Man Australia Profiles
Centrebet
Aussie Millions
Crown Casino
Casino News
Thursday, 18 December 2008
Wednesday, 17 December 2008
Travel Tourism Media Website Being Relaunched
The Travel Tourism Media official website is to be relaunched as we approach 2008.
Website
TravelTourismMedia.com
Website
TravelTourismMedia.com
Tuesday, 16 December 2008
Travel and Tourism Media Profiles
Media Man Australia Feature Profiles
Casino Travel and Tourism
Australian Casinos
Australia the movie
Bondi Beach
Casino Travel and Tourism
Australian Casinos
Australia the movie
Bondi Beach
Monday, 15 December 2008
Season's Greetings From Travel Tourism Media
Wishing you a happy and safe Christmas from the Travel Tourism Media team.
Season's Greetings
Greg Tingle
Media Director
Travel Tourism Media
Season's Greetings
Greg Tingle
Media Director
Travel Tourism Media
Sunday, 14 December 2008
Saturday, 13 December 2008
Friday, 12 December 2008
Thursday, 11 December 2008
Wednesday, 10 December 2008
Tuesday, 9 December 2008
Monday, 8 December 2008
Hey, moviegoers, where the bloody hell are you?, by Julian Lee - The Sydney Morning Herald - 8th December 2008
Twentieth Century Fox and the federal tourism minister have both come out fighting to defend Australia, despite the movie flopping at its US box office opening.
Martin Ferguson defended the decision to pump $40 million of taxpayers' money into a marketing campaign tied to the film but acknowledged that lower box office audiences might lead to the Australian tourism industry getting "less bang for our dollar".
He said the strategy by Tourism Australia to "piggyback" on the Baz Luhrmann film was an opportunity not to be missed. His comments came as Fox was forced to publicly back its film after recent figures showed a lacklustre performance in US cinemas.
Studio executives say the film is "holding well" and have even revised revenue projections upwards, despite some savage reviews and a weak US opening.
The Luhrmann ads draw on the movie's theme of transformation and market Australia as the antidote to the stresses of modern life. They are running in the US and Britain and be shown in 20 more countries.
"If you look at the ads then they have the potential to stand up in their own right as they actually advertise Australia featuring that young indigenous boy Brandon [Walters] …" Mr Ferguson said.
"It is an independent advertising [campaign]. The issue is whether we could have got a bigger bang for our dollar out of the film Australia but the campaign itself is independent and the ads show that."
Asked if he thought the tourism marketing campaign would get that boost Mr Ferguson replied: "Time will tell but it is too early to say yet."
A proper evaluation of the campaign's effectiveness will be carried out in due course, Mr Ferguson promised. Earlier this year, the national auditor criticised Tourism Australia for failing to check whether the $180 million it tipped into the "Where the Bloody Hell Are You" campaign worked.
That ad's provocative catchphrase was lost in translation in Japan and offended some people in other markets.
Yesterday, the tourism body said publicity about the movie had "reached" 100 million people, visits to the Australia website by Britons had risen 77 per cent and half a million people had watched the Luhrmann ads online. A spokeswoman stressed the campaign's success was not pegged to that of the film: "Ultimately that reach is the icing on the cake."
(Credit: The Sydney Morning Herald)
Media Man Australia Profiles
Australia the movie
Australia
Martin Ferguson defended the decision to pump $40 million of taxpayers' money into a marketing campaign tied to the film but acknowledged that lower box office audiences might lead to the Australian tourism industry getting "less bang for our dollar".
He said the strategy by Tourism Australia to "piggyback" on the Baz Luhrmann film was an opportunity not to be missed. His comments came as Fox was forced to publicly back its film after recent figures showed a lacklustre performance in US cinemas.
Studio executives say the film is "holding well" and have even revised revenue projections upwards, despite some savage reviews and a weak US opening.
The Luhrmann ads draw on the movie's theme of transformation and market Australia as the antidote to the stresses of modern life. They are running in the US and Britain and be shown in 20 more countries.
"If you look at the ads then they have the potential to stand up in their own right as they actually advertise Australia featuring that young indigenous boy Brandon [Walters] …" Mr Ferguson said.
"It is an independent advertising [campaign]. The issue is whether we could have got a bigger bang for our dollar out of the film Australia but the campaign itself is independent and the ads show that."
Asked if he thought the tourism marketing campaign would get that boost Mr Ferguson replied: "Time will tell but it is too early to say yet."
A proper evaluation of the campaign's effectiveness will be carried out in due course, Mr Ferguson promised. Earlier this year, the national auditor criticised Tourism Australia for failing to check whether the $180 million it tipped into the "Where the Bloody Hell Are You" campaign worked.
That ad's provocative catchphrase was lost in translation in Japan and offended some people in other markets.
Yesterday, the tourism body said publicity about the movie had "reached" 100 million people, visits to the Australia website by Britons had risen 77 per cent and half a million people had watched the Luhrmann ads online. A spokeswoman stressed the campaign's success was not pegged to that of the film: "Ultimately that reach is the icing on the cake."
(Credit: The Sydney Morning Herald)
Media Man Australia Profiles
Australia the movie
Australia
Sunday, 7 December 2008
Saturday, 6 December 2008
Thursday, 4 December 2008
Wednesday, 3 December 2008
Tuesday, 2 December 2008
The reason for China's gambling fetish - The West Australian - 1st December 2008
The Chinese have a long history of enjoying games such as cards and mah jong. Now they appear to be the biggest customers of casinos worldwide.
Go to Las Vegas, Macau or Melbourne and the majority of players inevitably are Chinese.
These days the casinos cater to them with Chinese bilingual dealers and other Asian-targeted perks.
So why do they love it so much?
Many have no idea. As one Hong Kong Chinese man said, “I don’t really know how to answer this, just like Aussies having vegemite, if you know what I mean.
“It’s been a long culture for Chinese to gamble and they believe it depends on their luck... Particularly during the festival or having leisure time, the Chinese like to gamble at home (mah jong) and play card games during Chinese New Year period (21 and poker). Gambling is a part of the Chinese blood I think.”
As the Chinese prefer simple games, baccarat is the most popular one at Macau casinos.
They don’t use the number four because it’s considered an unlucky number in China - it also means death - sei in Cantonese or si in Mandarin.
Samuel Chong from the Los Angeles Chinese Learning Centre puts the popularity of gambling down to: financial reasons (of course), socialising, the need for excitement to overcome boredom and for relaxation or as an escape.
The educator says his centre strongly discourages casino-related gambling and other forms as it has caused so much misfortune in Chinese families.
Although gambling is illegal in mainland China, many mainlanders find ways to gamble and to visit casinos either by travelling abroad to Macau or Las Vegas, or by gambling in private places or setting up underground gambling houses.
Chong says gambling is considered an acceptable form of social activity. Chinese people make friends, engage in business transactions, sign deals, and form stronger bonds (hopefully) with players of the games.
For 40 years under the rulings of the Communist Party, Chinese mainlanders could not find enough opportunities to make money, so casino gambling provided a “possible” way to get rich quickly.
Gamblers do not need the same sort of connections that are needed for business in China, and there’s little red tape, Chong says.
In modern China, many in the south become rich through normal business practices, but their wives’ social activities are limited. So they turn their hobbies into gambling.
Visiting casinos might help stressed business people or government officials escape life’s worries and difficulties.
For games like blackjack, there is always the possibility that you could outsmart the casinos, Chong says.
Recently, Chinese people have begun to play casino games online but in mainland China the government has been cracking down on this.
Media Man Australia Profiles
China
Macau
Asian Gaming
Casino Travel
Travel and Tourism
Go to Las Vegas, Macau or Melbourne and the majority of players inevitably are Chinese.
These days the casinos cater to them with Chinese bilingual dealers and other Asian-targeted perks.
So why do they love it so much?
Many have no idea. As one Hong Kong Chinese man said, “I don’t really know how to answer this, just like Aussies having vegemite, if you know what I mean.
“It’s been a long culture for Chinese to gamble and they believe it depends on their luck... Particularly during the festival or having leisure time, the Chinese like to gamble at home (mah jong) and play card games during Chinese New Year period (21 and poker). Gambling is a part of the Chinese blood I think.”
As the Chinese prefer simple games, baccarat is the most popular one at Macau casinos.
They don’t use the number four because it’s considered an unlucky number in China - it also means death - sei in Cantonese or si in Mandarin.
Samuel Chong from the Los Angeles Chinese Learning Centre puts the popularity of gambling down to: financial reasons (of course), socialising, the need for excitement to overcome boredom and for relaxation or as an escape.
The educator says his centre strongly discourages casino-related gambling and other forms as it has caused so much misfortune in Chinese families.
Although gambling is illegal in mainland China, many mainlanders find ways to gamble and to visit casinos either by travelling abroad to Macau or Las Vegas, or by gambling in private places or setting up underground gambling houses.
Chong says gambling is considered an acceptable form of social activity. Chinese people make friends, engage in business transactions, sign deals, and form stronger bonds (hopefully) with players of the games.
For 40 years under the rulings of the Communist Party, Chinese mainlanders could not find enough opportunities to make money, so casino gambling provided a “possible” way to get rich quickly.
Gamblers do not need the same sort of connections that are needed for business in China, and there’s little red tape, Chong says.
In modern China, many in the south become rich through normal business practices, but their wives’ social activities are limited. So they turn their hobbies into gambling.
Visiting casinos might help stressed business people or government officials escape life’s worries and difficulties.
For games like blackjack, there is always the possibility that you could outsmart the casinos, Chong says.
Recently, Chinese people have begun to play casino games online but in mainland China the government has been cracking down on this.
Media Man Australia Profiles
China
Macau
Asian Gaming
Casino Travel
Travel and Tourism
Monday, 1 December 2008
Saturday, 29 November 2008
Friday, 28 November 2008
Innovation will guarantee future of Australian tourism industry - 27th November 2008
Dynamic pricing and innovative tourism IT will be the main focus of the 2008 Australian Tourism Export Council (ATEC) Meeting Place 2008 to be held next week.
Over 500 inbound tourism operators, leading industry professionals and tourism product suppliers will come together at Sydney’s Hilton Hotel next Wednesday to discuss the future of Australia’s export tourism industry.
The ATEC Meeting Place will discuss ways in which online tourism can benefit the industry and will identify new business strategies and export markets that are profitable.
Matt Hingerty, ATEC Managing Director, believes that despite the global financial crisis, the tourism industry must remain strong to build positive developments and find loopholes of success.
He said, "Right now it is more important that ever that the inbound sector gets on the front foot, gets positive, even gets aggressive and chooses its future for itself – not accepts whatever is deemed ‘appropriate’."
Highlights will include a ‘Dynamic Pricing’ panel discussion, a keynote address from the Head of Travel at Google Australia on ‘Online travel marketing’ and a ‘Innovate or Die’ address by Craig Rispin, a business futurist and innovationist.
Media Man Australia Profiles
Craig Rispin
Travel and Tourism
Over 500 inbound tourism operators, leading industry professionals and tourism product suppliers will come together at Sydney’s Hilton Hotel next Wednesday to discuss the future of Australia’s export tourism industry.
The ATEC Meeting Place will discuss ways in which online tourism can benefit the industry and will identify new business strategies and export markets that are profitable.
Matt Hingerty, ATEC Managing Director, believes that despite the global financial crisis, the tourism industry must remain strong to build positive developments and find loopholes of success.
He said, "Right now it is more important that ever that the inbound sector gets on the front foot, gets positive, even gets aggressive and chooses its future for itself – not accepts whatever is deemed ‘appropriate’."
Highlights will include a ‘Dynamic Pricing’ panel discussion, a keynote address from the Head of Travel at Google Australia on ‘Online travel marketing’ and a ‘Innovate or Die’ address by Craig Rispin, a business futurist and innovationist.
Media Man Australia Profiles
Craig Rispin
Travel and Tourism
Tuesday, 25 November 2008
Time to hurry for Christmas TraveLeague - 17th December 2008 - Crown Casino
Press Release
Time is running out for guests to grab the last remaining seats at the 2008 V Australia Christmas TraveLeague Luncheon.
Organisers Craig Hunt, Matthew Fleming and Barry Huxley said bookings are “well beyond expectations” but there’s still room for people to come along to the ever popular Christmas event.
“We’re set for a great day in the Crown Casino ballroom,” said Matthew. “The event promises to be a smashing success.”
“But if you’re planning to come along and haven’t yet booked: do so quickly!”
This year’s event has sponsors for the first time, and Craig, Barry and Matthew said they were impressed by the level of support within the industry both for table sales and sponsorship.
“We’re delighted there are many high profile sponsors who will be an integral part of our big day,” said Craig.
“Thanks go out to our naming rights sponsor V Australia; our gold sponsors e Travel Blackboard, MyBookingManager.com, Oman Tourism, Rail Plus, TMS Asia Pacific and Top Dog Travel Systems; silver sponsor DriveAway Holidays and earlybird booking prize sponsor Hayman.”
“The luncheon is a chance for sponsors to reach leading decision makers in the travel and tourism industry and at the same time help support a great day of fun.”
The 2008 V Australia Christmas TraveLeague Luncheon will be held in the Palladium Ballroom at Crown Casino Melbourne, on Wednesday 17 December 2008. Tickets are $95. Bookings are open at the event website: www.christmastraveleague.com.
For contact information, visit the website at www.christmastraveleague.com or contact Craig Hunt (0419 108 660), Matthew Fleming (0418 542 002) or Barry Huxley (0408 804 292).
Media Man Australia Profiles
V Australia
Crown Casino
Events
Travel and Tourism
Time is running out for guests to grab the last remaining seats at the 2008 V Australia Christmas TraveLeague Luncheon.
Organisers Craig Hunt, Matthew Fleming and Barry Huxley said bookings are “well beyond expectations” but there’s still room for people to come along to the ever popular Christmas event.
“We’re set for a great day in the Crown Casino ballroom,” said Matthew. “The event promises to be a smashing success.”
“But if you’re planning to come along and haven’t yet booked: do so quickly!”
This year’s event has sponsors for the first time, and Craig, Barry and Matthew said they were impressed by the level of support within the industry both for table sales and sponsorship.
“We’re delighted there are many high profile sponsors who will be an integral part of our big day,” said Craig.
“Thanks go out to our naming rights sponsor V Australia; our gold sponsors e Travel Blackboard, MyBookingManager.com, Oman Tourism, Rail Plus, TMS Asia Pacific and Top Dog Travel Systems; silver sponsor DriveAway Holidays and earlybird booking prize sponsor Hayman.”
“The luncheon is a chance for sponsors to reach leading decision makers in the travel and tourism industry and at the same time help support a great day of fun.”
The 2008 V Australia Christmas TraveLeague Luncheon will be held in the Palladium Ballroom at Crown Casino Melbourne, on Wednesday 17 December 2008. Tickets are $95. Bookings are open at the event website: www.christmastraveleague.com.
For contact information, visit the website at www.christmastraveleague.com or contact Craig Hunt (0419 108 660), Matthew Fleming (0418 542 002) or Barry Huxley (0408 804 292).
Media Man Australia Profiles
V Australia
Crown Casino
Events
Travel and Tourism
Monday, 24 November 2008
Vegas bids to cash in with plan for $50m Mob museum, by Kevin Mitchell - The Guardian - 23rd November 2008
Defiant mayor hopes to rejuvenate his ailing city by celebrating the Mafia's role in its creation
Las Vegas, the desert city with an insatiable thirst for reinvention, is turning to some old friends to reboot its faltering economy: the Mob.
Building projects have stalled up and down the Strip, unheard of in a town where the sound of explosions on worn-out casino sites was as commonplace as gunfire, when the old constantly made way for the new. Now, as credit and the gambling nerve of the hotel bosses dry up simultaneously, the town invented by Bugsy Siegel in the Forties is going back to its dubious past for inspiration.
Work has started on a $50m museum that will open in the spring of 2010 celebrating the Mafia's links with the gambling capital of the world. It is an initiative that excites the mayor, Oscar Goodman, but dismays others weary of the city's historical association with organised crime.
Goodman is more than a mayor. He is a celebrity in a city that lives and dies on fame. He knew Frank Sinatra. He knew John F Kennedy. He knew Marilyn Monroe. This is a town and a civic administration that was as comfortable with the Mob and its attendant guest list as it was with the certainty of another sunny day.
Goodman told The Observer the project was 'as cool as it gets', dismissing suggestions that it might not be universally popular, given the nature of the Mob's activities.
The museum has been the subject of controversy since it was announced in October. 'The Mob museum and media try to romanticise these monsters for money,' wrote a blogger on the Las Vegas Review Journal's website. 'These romantic characters are really just lunatics and degenerates who preyed off society. If Las Vegas wants a museum, build one to commemorate the victims, not the criminals.' There is no denying, though, that exploiting the fascination with gangsters here is a profitable exercise. On a two-and-half-hour, $70 'Mob Tour of Las Vegas' last week, Vinny the guide said that even real-life hoodlums come to have a look.
'Three weeks ago,' he said, 'we had Henry Hill, who is in and out of witness protection, and was played by Ray Liotta in Goodfellas. He was pretty stewed. But he loved it.'
Goodman said: 'Nobody's given me an opinion other than they like it. You want a watercolour museum? You want a porcelain museum?' A robust populist who mines his colourful past as a prop in his political shtick, Goodman is in his third and final term, a Democrat approved by eight out of 10 voters in a city that is an unashamed cathedral to capitalism.
Goodman is no ordinary civic leader. As he is occasionally reminded, over three decades he acted as counsel for some of the country's most notorious mobsters, men who built and ran Las Vegas. His clients included Frank 'Lefty' Rosenthal and Anthony 'Tony the Ant' Spilotro, whose barely disguised doppelgangers were portrayed by Robert De Niro and Joe Pesci in the eerily accurate 1995 movie Casino (in which Goodman had a walk-on part).
And, no, he did not find his own 'Mob history' an embarrassment. 'What? To defend people, and protect their constitutional rights, and make sure that the government doesn't take advantage of them? You find that offensive? That's the reason we left England. OK?
'I don't care whether it is or it isn't [popular]. I care that there are people going in there and spending a lot of money and the city of Las Vegas is getting the fees and the concession money and making a fortune. It's going to be phenomenal. It's going to bring hundreds of thousands of people into our downtown.'
It might be stretching it to say Goodman 'knows where the bodies are buried' in anything other than a metaphorical sense, but he does know how to generate money. And the city that has been his home since he moved to Nevada from Philadelphia in the Sixties as a public defender has rarely needed his entrepreneurial instincts more than now.
Statistics released last week make grim reading: visitor numbers are down 10 per cent, year on year, to 2.9 million in September; room rates have been slashed by 21 per cent as tou6rist numbers dwindle; hotel occupancy is 84.3 per cent, down 7 per cent; across Nevada, gambling revenue dropped 5.4 per cent to just over $1bn; and on the Strip the take was a mere $525.5m for the month, down 5.17 per cent.
Those are numbers of dollars lost by Mr and Mrs Wisconsin at the slot machines, as well as the high-rollers at the baccarat tables. Las Vegas wins because it is full of losers. 'Life is a risk,' said Goodman. 'When I have my drink tonight, I'm risking it may be my last.'
The Mob Museum has been his pet project since he was elected in 1999. He got the idea from an unusual source: the old Post Office down the street from City Hall. It was in that building in 1950 that Senator Estes Kefauver conducted the Nevada leg of his famous inquiry into organised crime, butting up against the intransigence of witnesses unbothered by official scrutiny.
'We hired the folks who are doing the Spy Museum in Washington DC,' Goodman said. 'When you go in there you're going to be mugged, you're going to be booked, you're going to have your Miranda rights [the 'right to remain silent' legislation] given to you. And who knows if you'll ever get out? Because we're going to have machine-guns there, which will be provided by the FBI.'
(Credit: The Guardian)
Media Man Australia Profiles
Las Vegas
Casino Travel and Tourism
Casino
Casino News
Las Vegas, the desert city with an insatiable thirst for reinvention, is turning to some old friends to reboot its faltering economy: the Mob.
Building projects have stalled up and down the Strip, unheard of in a town where the sound of explosions on worn-out casino sites was as commonplace as gunfire, when the old constantly made way for the new. Now, as credit and the gambling nerve of the hotel bosses dry up simultaneously, the town invented by Bugsy Siegel in the Forties is going back to its dubious past for inspiration.
Work has started on a $50m museum that will open in the spring of 2010 celebrating the Mafia's links with the gambling capital of the world. It is an initiative that excites the mayor, Oscar Goodman, but dismays others weary of the city's historical association with organised crime.
Goodman is more than a mayor. He is a celebrity in a city that lives and dies on fame. He knew Frank Sinatra. He knew John F Kennedy. He knew Marilyn Monroe. This is a town and a civic administration that was as comfortable with the Mob and its attendant guest list as it was with the certainty of another sunny day.
Goodman told The Observer the project was 'as cool as it gets', dismissing suggestions that it might not be universally popular, given the nature of the Mob's activities.
The museum has been the subject of controversy since it was announced in October. 'The Mob museum and media try to romanticise these monsters for money,' wrote a blogger on the Las Vegas Review Journal's website. 'These romantic characters are really just lunatics and degenerates who preyed off society. If Las Vegas wants a museum, build one to commemorate the victims, not the criminals.' There is no denying, though, that exploiting the fascination with gangsters here is a profitable exercise. On a two-and-half-hour, $70 'Mob Tour of Las Vegas' last week, Vinny the guide said that even real-life hoodlums come to have a look.
'Three weeks ago,' he said, 'we had Henry Hill, who is in and out of witness protection, and was played by Ray Liotta in Goodfellas. He was pretty stewed. But he loved it.'
Goodman said: 'Nobody's given me an opinion other than they like it. You want a watercolour museum? You want a porcelain museum?' A robust populist who mines his colourful past as a prop in his political shtick, Goodman is in his third and final term, a Democrat approved by eight out of 10 voters in a city that is an unashamed cathedral to capitalism.
Goodman is no ordinary civic leader. As he is occasionally reminded, over three decades he acted as counsel for some of the country's most notorious mobsters, men who built and ran Las Vegas. His clients included Frank 'Lefty' Rosenthal and Anthony 'Tony the Ant' Spilotro, whose barely disguised doppelgangers were portrayed by Robert De Niro and Joe Pesci in the eerily accurate 1995 movie Casino (in which Goodman had a walk-on part).
And, no, he did not find his own 'Mob history' an embarrassment. 'What? To defend people, and protect their constitutional rights, and make sure that the government doesn't take advantage of them? You find that offensive? That's the reason we left England. OK?
'I don't care whether it is or it isn't [popular]. I care that there are people going in there and spending a lot of money and the city of Las Vegas is getting the fees and the concession money and making a fortune. It's going to be phenomenal. It's going to bring hundreds of thousands of people into our downtown.'
It might be stretching it to say Goodman 'knows where the bodies are buried' in anything other than a metaphorical sense, but he does know how to generate money. And the city that has been his home since he moved to Nevada from Philadelphia in the Sixties as a public defender has rarely needed his entrepreneurial instincts more than now.
Statistics released last week make grim reading: visitor numbers are down 10 per cent, year on year, to 2.9 million in September; room rates have been slashed by 21 per cent as tou6rist numbers dwindle; hotel occupancy is 84.3 per cent, down 7 per cent; across Nevada, gambling revenue dropped 5.4 per cent to just over $1bn; and on the Strip the take was a mere $525.5m for the month, down 5.17 per cent.
Those are numbers of dollars lost by Mr and Mrs Wisconsin at the slot machines, as well as the high-rollers at the baccarat tables. Las Vegas wins because it is full of losers. 'Life is a risk,' said Goodman. 'When I have my drink tonight, I'm risking it may be my last.'
The Mob Museum has been his pet project since he was elected in 1999. He got the idea from an unusual source: the old Post Office down the street from City Hall. It was in that building in 1950 that Senator Estes Kefauver conducted the Nevada leg of his famous inquiry into organised crime, butting up against the intransigence of witnesses unbothered by official scrutiny.
'We hired the folks who are doing the Spy Museum in Washington DC,' Goodman said. 'When you go in there you're going to be mugged, you're going to be booked, you're going to have your Miranda rights [the 'right to remain silent' legislation] given to you. And who knows if you'll ever get out? Because we're going to have machine-guns there, which will be provided by the FBI.'
(Credit: The Guardian)
Media Man Australia Profiles
Las Vegas
Casino Travel and Tourism
Casino
Casino News
Packer's luck turns as rival Macau project runs aground, by Vanda Carson - The Sydney Morning Herald - 24th November 2008
James Packer's latest joint venture in Macau is set to be the only new casino to open in the enclave next year after its larger US rival was forced to suspend its plans when the financial crisis dried up construction funds.
At last week's global gambling expo in Las Vegas, Melco Crown Entertainment's chief financial officer, Simon Dewhurst, said the $2.1 billion City of Dreams project, to open in the first half of next year, would benefit from the reduced competition.
Las Vegas Sands, which owns the Venetian in Macau, has suspended construction of a further three casinos and two hotels on two sites along Macau's Cotai Strip, adjacent to the City of Dreams Site, which has a 1400-room hotel and 500 gambling tables.
Las Vegas Sands raised $US2.1 billion ($.3 billion) late last week, which has assuaged fears that it would be bankrupted but is unlikely to be enough for the projects to resume construction.
Mr Dewhurst said he believed it would be impossible for Las Vegas Sands to raise the funds needed to finish building its Macau casinos.
Melco Crown was fortunate that it had locked in its development funding before the financial crisis struck.
The company raised $US1.6 billion through its public offering on the Nasdaq last year at between $US16 and $US18 a share. Its shares closed $US17c lower at $US2.65 on Friday.
"Nearly two years ago the dollars were out there for everyone. That's no longer the case," Mr Dewhurst said.
"There's no way those sites [Las Vegas Sands will be] … completed. There are 15 people in the world who do project financing, and in this climate it's impossible to get done."
Melco Crown may yet need to raise more capital, since after City of Dreams reaches its first anniversary $US1.5 billion of loans need to be repaid or refinanced.
A Credit Suisse analyst, Larry Gandler, said a capital raising might need to occur in early 2010.
(Credit: The Sydney Morning Herald)
Casino News Media Profiles
Macau
Crown Macau
James Packer
Casino News
At last week's global gambling expo in Las Vegas, Melco Crown Entertainment's chief financial officer, Simon Dewhurst, said the $2.1 billion City of Dreams project, to open in the first half of next year, would benefit from the reduced competition.
Las Vegas Sands, which owns the Venetian in Macau, has suspended construction of a further three casinos and two hotels on two sites along Macau's Cotai Strip, adjacent to the City of Dreams Site, which has a 1400-room hotel and 500 gambling tables.
Las Vegas Sands raised $US2.1 billion ($.3 billion) late last week, which has assuaged fears that it would be bankrupted but is unlikely to be enough for the projects to resume construction.
Mr Dewhurst said he believed it would be impossible for Las Vegas Sands to raise the funds needed to finish building its Macau casinos.
Melco Crown was fortunate that it had locked in its development funding before the financial crisis struck.
The company raised $US1.6 billion through its public offering on the Nasdaq last year at between $US16 and $US18 a share. Its shares closed $US17c lower at $US2.65 on Friday.
"Nearly two years ago the dollars were out there for everyone. That's no longer the case," Mr Dewhurst said.
"There's no way those sites [Las Vegas Sands will be] … completed. There are 15 people in the world who do project financing, and in this climate it's impossible to get done."
Melco Crown may yet need to raise more capital, since after City of Dreams reaches its first anniversary $US1.5 billion of loans need to be repaid or refinanced.
A Credit Suisse analyst, Larry Gandler, said a capital raising might need to occur in early 2010.
(Credit: The Sydney Morning Herald)
Casino News Media Profiles
Macau
Crown Macau
James Packer
Casino News
Sunday, 23 November 2008
Saturday, 22 November 2008
Market Deals Different Hands For Casino Rivals Big Bets Andrew Farrell - Forbes - 14th November 2008
Big Bets
Steve Wynn and Sheldon Adelson try to find financing in lean times.
Casino billionaires and long-time rivals Steve Wynn and Sheldon Adelson both want to raise cash during these lean times. One is having a much easier time.
Wynn's Wynn Resorts (nasdaq:WYNN - news - people ) announced Thursday it will sell 8 million shares in a public offering at $43.50. The deal, if it comes off as planned, would raise $348 million before fees for the gaming company.
"Cash is the most important thing at this point," says James Hardiman, an analyst at FTN Midwest Securities. "Wynn Resorts is already at a better position than their peers with a good chunk of cash on their balance sheets, and this offering will extend their lead." (See"The Casino Billionaires.")
Hardiman says Wynn's more conservative approach to expansion kept them less leveraged than some competitors. The company's relatively strong balance sheet is hugely valuable during this rough period for gaming operators. Gamblers are visiting casinos less and are wagering less.
Adelson's Las Vegas Sands (nyse: LVS - news - people ) doesn't enjoy the same financial security. While Sands hopes to raise $2.1 billion in its own stock offering, it may find buyers scarce. Shares are down 95% so far this year. Morningstar analyst Sumit Desai says the company's financing difficulties "very possibly could force the company into bankruptcy."
Adelson and Wynn's relationship is long and icy. Adelson complained eruptions from the fake volcano at Wynn's Mirage hotel and casino were too loud. Wynn countered that Adelson didn't build enough parking at his Las Vegas projects and the overflow grabbed spaces from his own customers. Wynn said Adelson has an "inferiority complex" and Adelson called Wynn an "egomaniac."
Adelson doesn't have time for quips now though. The Las Vegas Sands auditor warned last week that the company could breach some agreements with its lenders. Sands admitted in a regulatory filing that a default on its loans would raise serious doubts about its ability to operate. (See "The House Always Wins.")
The company is scrambling to right itself. Sands might lay off about 11,000 workers at its China operations and temporarily halted two of its massive construction projects in the country.
Tightened lending is compounding the Nevada-based company's financing woes. "We would not have suspended" construction, said Stephen Weaver, Sands' Asia president, "if we could see clarity on how long it would take to raise the funds."
Greg Tingle comment...
Potential investors, backers and the like are going to obviously do a risk assessment on both Steve Wynn and Sheldon Adelson. In addition, the (real books) and balance sheets, and, who they are in bed with already. Also, don't forget that Donald Trump is also doing a consortium deal in The Philippines, and Australia's James Packer has his Crown Macau - City of Dreams, and Packer has enjoyed some considerable success in the casino and gaming sector, despite some leaner times lately. Packer got out of CVC - Network Nine Australia and this did free up some cash, and cash is very attractive in the current market. You can bet that the casinos will be wanting to get on or stay on the good side of the tourism and gaming regulators and boards, and a sweet airline deal or two to swing in the masses and whales on some sort of dream casino travel package won't go astray. And, finally, the right PR and news headlines, both mainstream news media and casino press, as backers, investors and Joe Public read this stuff, and perceptions become reality.
(Credit: Forbes)
Media Man Australia Profiles
Casino News
Steve Wynn and Sheldon Adelson try to find financing in lean times.
Casino billionaires and long-time rivals Steve Wynn and Sheldon Adelson both want to raise cash during these lean times. One is having a much easier time.
Wynn's Wynn Resorts (nasdaq:WYNN - news - people ) announced Thursday it will sell 8 million shares in a public offering at $43.50. The deal, if it comes off as planned, would raise $348 million before fees for the gaming company.
"Cash is the most important thing at this point," says James Hardiman, an analyst at FTN Midwest Securities. "Wynn Resorts is already at a better position than their peers with a good chunk of cash on their balance sheets, and this offering will extend their lead." (See"The Casino Billionaires.")
Hardiman says Wynn's more conservative approach to expansion kept them less leveraged than some competitors. The company's relatively strong balance sheet is hugely valuable during this rough period for gaming operators. Gamblers are visiting casinos less and are wagering less.
Adelson's Las Vegas Sands (nyse: LVS - news - people ) doesn't enjoy the same financial security. While Sands hopes to raise $2.1 billion in its own stock offering, it may find buyers scarce. Shares are down 95% so far this year. Morningstar analyst Sumit Desai says the company's financing difficulties "very possibly could force the company into bankruptcy."
Adelson and Wynn's relationship is long and icy. Adelson complained eruptions from the fake volcano at Wynn's Mirage hotel and casino were too loud. Wynn countered that Adelson didn't build enough parking at his Las Vegas projects and the overflow grabbed spaces from his own customers. Wynn said Adelson has an "inferiority complex" and Adelson called Wynn an "egomaniac."
Adelson doesn't have time for quips now though. The Las Vegas Sands auditor warned last week that the company could breach some agreements with its lenders. Sands admitted in a regulatory filing that a default on its loans would raise serious doubts about its ability to operate. (See "The House Always Wins.")
The company is scrambling to right itself. Sands might lay off about 11,000 workers at its China operations and temporarily halted two of its massive construction projects in the country.
Tightened lending is compounding the Nevada-based company's financing woes. "We would not have suspended" construction, said Stephen Weaver, Sands' Asia president, "if we could see clarity on how long it would take to raise the funds."
Greg Tingle comment...
Potential investors, backers and the like are going to obviously do a risk assessment on both Steve Wynn and Sheldon Adelson. In addition, the (real books) and balance sheets, and, who they are in bed with already. Also, don't forget that Donald Trump is also doing a consortium deal in The Philippines, and Australia's James Packer has his Crown Macau - City of Dreams, and Packer has enjoyed some considerable success in the casino and gaming sector, despite some leaner times lately. Packer got out of CVC - Network Nine Australia and this did free up some cash, and cash is very attractive in the current market. You can bet that the casinos will be wanting to get on or stay on the good side of the tourism and gaming regulators and boards, and a sweet airline deal or two to swing in the masses and whales on some sort of dream casino travel package won't go astray. And, finally, the right PR and news headlines, both mainstream news media and casino press, as backers, investors and Joe Public read this stuff, and perceptions become reality.
(Credit: Forbes)
Media Man Australia Profiles
Casino News