| |
The
Straits Times, 5 Nov 04
MGM-MIRAGE
PARTY High rollers wined and dined by casino giant
MORE than 200 of Singapore's casino elite - high rollers with credit
lines of US$250,000 (S$418,000) or more - were wined and dined in
style by one of Las Vegas' largest gaming operators at the Regent
Hotel here last night. The MGM-Mirage party was an appreciation dinner
staged to build closer ties with big-timers, in both Singapore and
the region, who think nothing of waging up to $100,000 in a single
night.
Mr Terrence Lanni, chief executive of MGM-Mirage, told The Business
Times Singapore is a very important market, with at least 150 high
rollers who are regulars. He said: 'Singapore is not as large as the
Taiwanese market or the Hong Kong market, but it's a very significant
one.' MGM-Mirage owns some of Las Vegas' plushest casinos, including
the MGM Grand and the Bellagio.
One gambler who has attended such parties said they have been going
on for some time now. Said the man, who declined to be named: 'The
casino representatives fly all the way here to throw very expensive
dinners to entice players to spend the holiday season at their casinos
in America.' He said his friend, a casino promoter from Hong Kong,
had flown into town specially to attend one such gathering on Wednesday
night for 'top-end rollers' - individuals with credit lines well above
US$250,000 - comprising mostly businessmen from Singapore, Malaysia
and Indonesia.
At the Regent last night, the guests began to arrive at the hotel
ballroom around 7pm. Clad mostly in shirtsleeves without a tie, the
predominantly male crowd shied away from interviews. One guest, who
said he was accompanying his friend, a businessman in his 50s who
is a 'big-timer', said these parties are annual affairs. The menu
befitted the high net worth individuals, with foie gras and abalone
among the items on the dinner table. The highlight of the night: a
lucky draw with thousands of US dollars as prizes.
According to The Business Times, several other Las Vegas casino operators
are in town as part of the US-Asean Business Council delegation to
discuss business trends and opportunities with government officials.
Last month, the Government said it may soon ask private sector players
to come forward with proposals on how to develop Singapore's first
casino project. It is likely to be based on an integrated resort model,
where the casino makes up 30 to 50 per cent of revenue, and not an
exclusive high-end club or pure gambling station.
|
|
