Asia's Gem

In the midst of this devastating global crisis, the gaming and entertainment industry is determined to survive. Last April 2-3, the 4th Asia’s Gem (Asia’s Gaming and entertainment plus Leisure Expo Manila) was held at the SMX Convention Center in Manila. Adopting the theme Global Cooperation Towards Industry Growth, the expo provided the opportunity to industry leaders to unite and exchange ideas for the industry to surge ahead despite the difficult times.  

Representatives from the United States, Europe, Australia, Macau, Malaysia, Korea, Taiwan, Japan and Cambodia converged for this expo. Participation in the event was extensive as, apart from the delegates and guests, they had exhibitors, gaming manufacturers, suppliers, partners and a line-up of remarkable speakers at the event. This list includes Deutsche Bank Gaming analyst Bill Lerner; Gaming Laboratories International (GLI) Asia Ltd general manager Larry Xiao; Gaming Standards Association president Peter de Raedt and Nevada Gaming Control Board Deputy Chief of the Investigation Division John Flynn.

Previous to the expo itself, there was a congress held on April 1 at the Hyatt Hotel and Casino presided by PAGCOR Chair and CEO Efraim C. Genuino who also served as Interim Chairman of the Euro-Asian Cooperation on Gaming Association, Ltd. (ECG). PAGCOR President and COO Rafael ‘Butch’ Francisco acted as the Master of Ceremonies for the conference. Senator Richard Gordon was the keynote speaker for the formal opening ceremonies on April 2.

ECG, which was established in 2006, is an international trade association composed of Asian and European casino owners, operators and other gaming industry leaders. That same year, the 1st Asia’s GEM was held here, at the World Trade Center. The expo is now on its fourth year, and as can be seen from the wide participation, going stronger than ever.

At the Hyatt Hotel and Casino, the hotel was a-buzz with frenzied activity as the Gaming, Tourism and Investment Congress was held. The delegates shared a common vision and commitment to strengthen the gaming industries globally. Chairman Genuino said that the industry anticipated the backlash of the global financial crisis, but those in the tourism and gaming industry believe that this is a temporary setback. Through the ECG, Chair Genuino has taken the reins to steer the gaming industry to a dynamic and progressive direction. Precisely because of the global crisis, Chair Genuino stressed the need for renewed cooperation and solidarity among the key players in the entertainment and gaming industry. “This is the time to believe that to cooperate is the key to strengthen each other and revitalize the industry amidst difficulties,” he said.

I’m sure the congress itself proved very informative for all the delegates. Among the topics discussed were the challenges and opportunities in the global gaming market, the trends and advances in gaming technology, the “new world” of resort development, and managing the challenge of the global downtrend and the case of integrated resorts, among other issues.

The event itself is a major tourism boost. Asia’s Gem made sure it highlighted the most interesting entertainment and vacation spots, the excellent golf clubs we have in the country, plus new and exciting tourist destinations and world-class facilities. Spotted during the expo were several local bigwigs and foreign guests who gaped in wonder at the gaming-related products on display. More than a hundred exhibitors and companies brought their newest wares over to display at the expo, certainly one of the grandest, if not the grandest, event of the year.          

What was also interesting in this year’s congress was the Global Leaders’ forum. In the freewheeling panel discussion, the proponents of the Bagong Nayong Pilipino Entertainment City were there to discuss about this ambitious project which promises to put the Philippines in the international gaming map. Moderated by Rey Gamboa, the panel discussion also touched on Integrated Resorts: Managing the Challenges and Opportunities.

The entertainment and gaming industry’s contribution to a host country’s economy can hardly be questioned. Look at Macau for instance. It has been thriving all these years, but ever since it was returned to the Chinese in 1999, its growth has been phenomenal. This enclave was closed to all foreign competitors till 2002. During this time, Stanley Ho was stripped of his monopoly over Macau’s gambling concessions. The erstwhile gambling guru held on to this monopoly for forty years, and this included the lottery, horse racing and even dog racing. Stanley Ho had also vast interests in ferry and helicopter terminals. He also controlled the biggest land bank in Macau at that time.

Before the Chinese opened up the gaming industry to competition, most of the casinos were old and wanting in glitz and glamour, still a far cry from ritzy Las Vegas. Faced with competition, the elder Ho started buying up properties to build new and better casino sites. His son, Lawrence teamed up with Australia’s wealthiest businessman James Packer and together, they built the $500 million Crown Macau in the Island of Taipa. Stanley’s daughter Pansy, not to be outdone, teamed up with Las Vegas’ Mirage and Bellagio casinos to put up a 28-story, 600 room hotel.

Obviously, Macau was attracting the big-time investors. Sheldon Adelson, a Vegas entrepreneur, built the Sands Macau which set a world record for having the most number of gaming tables under one roof (that’s how huge this casino is!!). He reportedly recouped his $240-million investment at the Sands Macau in just eight months.

This is the same guy behind the phenomenally successful Venetia, also in Macau, which is only part of a gigantic complex. Part of the plans for this complex includes 20,000 rooms operated by five luxury hotel chains such as the Four Seasons, and hundreds of boutiques and restaurants, performance stages, exhibit halls, etc. Many of you by now have seen the Venetia, or even booked there. The much-touted canal is really just a small one, more for first-timers in Macau, and there is only one gondola plying the short canal. But the bio-dome that sheaths the whole thing, fully air-conditioned with a fake summery blue sky overhead is awesome.

Every time I go to Macau, the landscape has changed. In a span of less than ten years, the growth is phenomenal, and the construction tempo has not abated. Even Singapore has scrapped its long-standing ban on gambling and is now going full steam ahead for two multi-billion dollar casinos there. The Singapore government is tapping Sands’ Adelson and Malaysia’s Genting International to build in their famous beach resort, Sentosa Island. To maintain a clean image, I heard Singapore asked Genting to disassociate itself with Stanley Ho.

Details of the entertainment city which PAGCOR is planning are still unclear, but the potentials, as you can see, are astounding, tourism-wise.

Mabuhay!!! Be proud to be a Filipino.

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