...Location Quotient of Las Vegas 7 Development Phases of Las Vegas 8 The First Wave of Development 9 Supply-side Factors 9 Demand-side Factors 10 The Second Wave of Development 11 Demand-side Factors 11 Supply-side Factors 13 Summary of Development Phases 14 Comparing Macau with Las Vegas 15 Lessons Learnt For Singapore 17 Conclusion 18 Bibliography 19 Introduction Motivation Over the years, Las Vegas has developed itself into a city housing mega-resorts and massive entertainment providers. More specifically, Las Vegas Strip, which is a 6.8 kilometer long highway leading from Los Angeles into Las Vegas, has seen a conglomeration effect with many large hotels, casinos and resort properties congregating there. Nineteen of the world’s twenty-five largest hotel by room count are on the Strip, with a total of over 67,000 rooms. In this paper, we are interested in studying the agglomeration trends of the mega-resorts in Las Vegas, understanding the reason and benefits of concentration. Next, we attempt to analyze difference between Las Vegas and Macau, the 2 gaming giants of the world. Lastly, we will extend these lessons learnt to two upcoming integrated resorts in Singapore. Background and History A mega-resort (or known as an integrated resort locally) is a casino based vacation resort which normally houses its own hotels and other facilities. The first mega-resort appeared on the Strip in 1980s. However, prior to the appearance of mega-resorts, there...
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...Martin (G3525406X) Chye Hui Lin (S8734971C) Darren Chng Meng Hoe (S8509392D) Jasmin Hamdani Ham (G3529740K) Karina Ondang (G0638741T) Liu Fang (G3529124K) Louis Lim Wei Chun (S8416257D) * Contents Executive Summary | 1 | Company Overview | 2 | External Environment | 2 | Internal Environment | 4 | Acquisitions, Restructuring and Cooperative Strategies | 6 | Business-Level Strategy of Las Vegas Sands in the U.S. | 6 | Corporate- Level Strategy of Las Vegas Sands in the U.S. | 11 | International Business-Level Strategy of Las Vegas Sands | | Macau | 14 | Singapore | 17 | Bibliography | i | Appendix | iv | * Executive Summary Las Vegas Sands is a hotel, gaming and resort development company which operates in many countries worldwide. It has 3 significant establishments; The Venetian and The Palazzo in United States, The Venetian Macao in Macau and Marina Bay Sands in Singapore. The company places strong focus on their code of conduct and ethical behavior of their employees. The company has both tangible and intangible resources. Their capabilities include excellent management of operations and human resources, specifically tailored offerings to the Asian market, the MICE business and Eco 360 cost savings initiative. We have identified their core competencies to be in MICE, the Eco 360 program, its Paiza Club which targets high end Asian clientele and the Venetian theme which is seen prominently in their establishments. We have also analyzed...
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...[pic] Keuka College Bachelor of Science in Management List 1. Develop a Porter 5-forces model of the casino industry. Make sure you discuss each of the five forces in a separate paragraph or section 3 2. How are the gambling companies in Las Vegas responding to the changes in the industry structure and the increased competition . 21 3. How have the casinos in Atlantic City tried to compete with Las Vegas? What threats do they face . 23 Chen Huisheng 323945 Lin Weijie 324066 1.Develop a Porter 5-forces model of the casino industry. Make sure you discuss each of the five forces in a separate paragraph or section. For purposes of this case, we will define the casino industry as including full-service, diverse entertainment (i.e. traditional) casinos of Las Vegas and Atlantic City, and treat other gambling alternatives (e.g. Native American casinos, riverboat gambling, etc.) as substitutes. When discussing each of the five forces, be sure to consider each of the factors relevant to each of these five forces as we discussed in class. In terms of Porter’s 5 forces analysis, the bargaining power of suppliers is weak because of the fact that casinos basically provide their own services with internal resources, such as employees properly trained in various casino games. The bargaining power of customers is strong, especially because even a slight change in the demand for casino services could directly impact the revenues of the industry...
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...offering on December 14th, 2004 consisted of 23,809,524 shares at a price of $29 per share. From Bloomberg Business week, also shown in Appendix 1, we can see that since the first full month that LVSC has been traded on the NYSE its average record monthly high stock value was $103.05 and its average monthly record low stock trade value was $10.17. Within the last five years, the LVSC has suffered through the world’s economic downturn just like any other company. In Appenix 2 we can see that the early part of 2009 was the worst, in terms of stock prices, for the LVSC. We can also see that within the last two years, LVSC has also regained a lot of ground. There current share price is on the NYSE is at 51.50 and the performance of the Macau and Singapore markets continues to positively increasing the value of the overall company. Political position history In my opinion, the political history and position of the LVSC is a direct reflection of Sheldon Adelson’s political views and standpoints and can therefore be correlated as such. Business and politics are very closely intertwined and I believe that Adelson’s actions within the political arena can also be seen as strategic business decisions that have both negatively and positively...
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...Executive Summary Las Vegas Sands Corporation (“LVS”) is arguably the world’s premier casino resort operator. With its operations in Las Vegas, Macau, Pennsylvania, and its new development in Singapore and Europe LVS, is now well-positioned to capture a large slice of what is becoming an increasingly huge pie. They are the biggest company in its industry with a USD market cap of 35.1 billion as of 2011. The casino operator has been a pioneer in opening new markets in Asia, and will continue to aggressively focus on a variety of other development opportunities where it’s needed. However, LVS has faced significant financial challenges since the economic recession began in the fourth quarter of 2008. Among the significant ones is its large amount of long term debt currently at 9.58 billion. Las Vegas Sands Corporation has strategically sold some of their “non-core” assets such as the Venetian retail mall, and its Shoppes at the Palazzo in order to remain compliance with its credit covenants. With this said, there are now in the position to return to profitable operations with its Asian pipeline and its new development project in Europe with the assumption that upon completing these projects it will generate enough revenue to get rid of all their debts. In addition, to their debt issues are the ongoing lawsuits that have brought a threat from government officials questioning how the company conducts its domestic and foreign operations. This is an issue of growing importance especially...
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...Macau Economy Macau’s booming tourism and casino industry has been inviting foreign investments which have helped it in becoming one of the renowned gaming centers of the world. In 2006, the revenue earned from gaming in Macau surpassed that of Las Vegas, and all taxes associated with gaming amounted to almost 75% of government revenue. The relaxation of travel restrictions coupled with the growth in the gaming segment resulted in nearly 27 million travelers visiting China in 2007, an increase of almost 62% over the preceding three years. Macau’s traditional textile industry has gradually shifted base to China due to termination of the Multi-Fiber Agreement in 2005. The Closer Economic Partnership Agreement (CEPA) signed between Macau and China allows tariff free movement of goods from Macau to mainland China. Pataca, the currency of Macau is closely connected with Hong Kong dollar and is freely accepted in Honk Kong. Economic activities of Macau Services activities dominated by tourism and gambling contribute nearly 96% towards its GDP (gross domestic product). Wholesale and retail trade, financial services, construction, and transport and communications are the other tertiary sector activities. The industrial sector is dominated by electronics, footwear, textiles and toy manufacturing facilities. Industries or secondary economic activities constitute almost 4% of GDP. The contribution of agriculture to Macau’s economy is negligible. With only 2% of total area...
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...native to Asia or descended from an Asian people. The real problem with Oriental is more likely its connotations stemming from an earlier era when Europeans viewed the regions east of the Mediterranean as exotic lands full of romance and intrigue, the home of despotic empires and inscrutable customs. Orientalism is the study of Near and Far Eastern societies and cultures, languages and peoples by Western scholars. It can also refer to the imitation or depiction of aspects of Eastern cultures in the West by writers, designers and artists. The hubs of strong traditions that are easily visible lie in East Asia. The following countries are commonly seen as located in geographically East Asia: People's Republic of China (China), Hong Kong and Macau (a special administrative region of the People's Republic of China), Republic of China (Taiwan), Japan, Democratic People's Republic of Korea (North Korea), Republic of Korea (South Korea), and Mongolia (Wikipedia 2007). Oriental Ideologies These are the main ideologies connected with Asia: Buddhism, Confucianism, and Taoism/Daoism. Others comprise of Shinto and Zen (Eastern Buddhism). Over 93% of Taiwanese are...
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...Services Group which provides its customers with a menu of integrated Distribution Services in three core businesses across Asia: Manufacturing, Logistics and Distribution RETAILING The Group’s retailing businesses include the publicly listed Convenience Retail Asia Ltd, the Trinity Group and privately held Toys “R” Us, with store networks extending from the China markets to Singapore, Malaysia, Thailand, Indonesia, south Korea and the Philippines Li Fung Business Trading * 100 years of trading history since 1906 * Export trading arm handles the supply chain of high volume, time-sensitive consumer goods through its worldwide office network * Around 14,000 staff * Orchestrates nearly 15,000 international suppliers in over 40 economies to service approximately 2,000 customers * Member of Hang Seng Index, MSCI Index and FTSE4Good Index * 2009 Revenue: US$13.4 billion Li & Fung specializes in orchestrating a highly-customized path through the supply chain in order to deliver high-quality, low-cost products to its customers reliably and quickly. Over 80 offices in over 40 economies with about 14,000 employees and a sourcing network of nearly 15,000 international suppliers Approximately 2,000 customers in major developed markets Retail * Focused on convenience retailing, toy retailing, international designer brands and lifestyle brands * Around 13,000 staff * 2009 Revenue: US$0.8 billion * Over 1,000 retailing outlets in Greater China...
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...Jurisdiction: Singapore Regulatory body/gaming authority: Casino Regulatory Authority http://www.cra.gov.sg/ Casino Regulatory Authority (Abbreviation: CRA) is a young organization which was formed in 2008. The founder and chairman for this organization is Mr. Richard Magnus. Mr. Magnus was the senior Chief District Judge in Singapore. He also held headship appointments in several Legal Departments after he retired from the district judge. (Government of Singapore 2008) and actually both its CEO Mr.See Hiang Chang and senior partner Mr. Benedict Cheong are from legal system. This organization is working on manage and control the casino business in Singapore, to reduce the negative influence to the minimum. The Casino Control Regulations (the "Regulations") are made by the Casino Regulatory Authority of Singapore, with the approval of the Minister for Home Affairs, under the authority of the Casino Control Act (Cap. 33A) To apply a gaming license in Singapore, casinos have to firstly apply through CRA, and a fee of application and operation will be charged. 1. For an application for a casino license is $1,000; 2. Casino license fee- a) To operate the only casino in operation-- $22.8 Million per annum b) To operate one of 2 casinos in operation-- $19 million per annum 3. For an application for renewal of a casino license is $850 4. For an application to redefine casino boundaries is $270 (Casino Control Regulation...
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...International Conference on New & Renewable Energy Development The Rector The university of saint Joseph The speakers’ hall 27 october 2011 of need & greed The story of the City of Philadelphia in Pennsylvania is, perhaps, the best example of how to manage existing and dwindling resources at a time of reduced means. On the other hand, the panorama of new and renewable energy today is filled with mostly mega projects, and assumed solutions that are only that, assumed. No matter what happens, the highest values of humanity have to supersede the expediencies of engineering. It is, however, undeniable, that we are compressed by issues that require immediate and all encompassing approaches. We seem to be corralled by the melting of ice caps and the submersion of cities; the rise of temperature and wild climate change, that ranges from desertification in places to shattering floods elsewhere; the scarcity of water and the specter of wars over maddening thirst; the rights to achieved development for some and to develop for others; the cost of economic growth and the supposed unbearable price of eradicating poverty; the blighted ecology of soviet-style systems and the menace to the environment of unbridled capitalism; the urge to increased material comfort and the menace of diminished humanistic cultures. We are, thus, compelled to make sense out of numerous scientific, political, governmental, social, religious, and ideological discourses: many ambiguous, others...
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...[pic] Bachelor of Arts in International Hospitality Management QMU BH 3213 Strategic Management [pic] China Xiamen Airline Student: Que jia lei Student number:07007923 Lecture: Mr. David Goh Submission date:04-01-2008 Contents Executive summary………………………………………………………..3 1. Introduction……………………………………………………………….4 1.1Xiamen airline company background……………………………………….4 1.2The objective of this project…………………………………………………..4 2. Xiamen airline Vision, Mission and Goals…………………………5 ▪ Vision……………………………………………………………………………5 ▪ Mission…………………………………………………………………………5 ▪ Goals…………………………………………………………………………….5 3. Strategy analysis of Xiamen airline environment…………………6 3.1 PEST analysis……………………………………………………………………….6 3.2 Internal environment………………………………………………………………9 4. SWOT analysis…………………………………………………………….12 5. Porter’s five forces analysis……………………………………………13 5.1 Competitive Rivalry……………………………………………………………….14 5.2Threat of Entry……………………………………………………………………...14 5.3Buyers bargaining power…………………………………………………………15 5.4Suppliers bargaining power……………………………………………………...15 5.5Threat of substitute………………………………………………………………..16 6. Report on the organization products, market and current strategy (Grand Strategy Matrix)……………………………………………………...17 7. Overall recommendation for future...
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...Hong Kong: the small but mighty city Analysis on its economy Nima Sang Tamang 6234519 International Business Management Comparative Country Studies University of Surrey 1 Executive Summary Asia’s world city Hong Kong (HK) is known as Asia’s world city (Hong Kong Tourism Board (HKTB), 2015), being a central hub for almost everything but is only a mere dot on the world map; being only of 1,108 sq km in size. Having a quick paced and busy life is just a norm when living especially with 7 million people and still growing. Yet, this small city is bustling with businesses from all over the world going on a fast non-‐stop pace. Growing up in Hong Kong myself, I wanted to learn more about the city I grew up. I also wanted to recommend to business firms why Hong...
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...satisfied with his accomplishment of attracting high networth clientele to downtown Vegas; he had dreams of expanding his casino empire, starting with a twin Golden Nugget resort in Atlantic City, a rival gambling destination. IAISO on his repertoire of great successes are the magnificent Mirage (1989), Treasure Island (1993), and the breathtaking Bellagio (1998). After what was considered the largest merger in the gaming industry's history, the Mirage became a part of M G M , Inc. for $6.4 million. Steve Wynn stepped down as Chairman and CEO of the Mirage and set his sights on developing his largest casino resort yet, the Five Diamond Wynn Las Vegas. Wynn Resorts, Ltd. owns and operates the Wynn Las Vegas and the Wynn Macau, a casino resort located in the Macau Special Administrative Region of the People's Republic of China (PRC). The company is in the process of developing an expansion "KNOW WHEN TO HOLD 'EM; KNOW WHEN TO FOLD 'EM" Millions of people travel to Las Vegas each year with big dreams of hitting the jackpot; most of them leave Las Vegas empty handed, heartbroken, and even further in debt. Very few people win big, and even fewer C13 to the Wynn Las Vegas, called the Encore Diamond...
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...GLOBAL DESTINATION COMPETITIVENESS TOURISM POLICY REVIEW SINGAPORE CARAN MORE 13036630 ABSTRACT The tourism management of Singapore has changed a lot over the period of time. The implementation of different policies and methods of promoting tourism in Singapore at domestic and international levels has brought the social and economical changes to the country. The issues of tourism development in Singapore need to be reviewed as they relate to the socio economic conditions of the country. This policy review paper will look at the different tourism policies of Singapore after the independence of the country. It will also look at the different responses the country received with applications of these policies over the period of time. Lastly it will look at the future of Singapore with regards to the future prospects, opportunities and challenges related to the tourism development of the nation. INTRODUCTION The management of Singapore has to be able to blend in with the social and economic environment of the world. Thus the policies and strategies of the country has been largely been co related to the global trends and also to the changing domestic factors. After Singapore attained its independence in 1965 there was a great growth in its tourism caused by the introduction of new technologies in the country, which improved transportation and communication (Teo, 1994). It became cheaper...
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...Corporate Social Responsibility Environment and Sustainability Introduction Las Vegas Sands Corporation (LVS) is a multinational casino and resort company that began in 1989 when Sheldon Adelson purchased the Sands Hotel in Las Vegas, Nevada. Since 1990, LVS has grown into a luxury hotel, entertainment, and gambling corporation with locations in the United States in China. Among their most well-known American properties are The Venetian and Palazzo, both of which are in Las Vegas, and they also boast ownership of the Four Seasons Hotel, Sands Cotai Central, and The Venetian Macao in the Cotai Strip in Macao, China. Additionally, they operate the Marina Bay Sands in Marina Bay, Singapore. LVS is hoping to increase their presence in Singapore and Japan as well. They are planning to open The Parisian Macau, another...
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