Managing Director of 2NT8 Limited Alidad Tash and Managing Director of Tottenham & Co Andrew Tottenham join moderator and CEO of 86 connects, Annie SIara, to discuss the popular contemporary phenomenon of integrated resorts and the prospect of this concept in Europe
To start with the panel define the name of the toppic at hand 'integrated resorts' and explain how apart from the gaming and casino sides, it is full of entertainmet, hostels, hotels, restaurants and so on, and Annie Siara asks the IR experts to define it and elaborate on it themselves.
Andrew Tottenham starts by essentially compares it to a theme park, saying that with that same scope and same vision, one could attract a great number of people, which is what the intention of the IR's is in the first place, but it is necessary that the 'whole package' is there, ready to be 'served' to the client.
Alidad Tash compliments what Tottenham says, and adds that the advantage of such concepts as IR's and for instance, theme parks, is the 'giant' compactness of the place; having a small town of sorts, that has places to eat, places for entertainment, places to rest and places to gamble, essentially saying that the cliche phrase here applies more than ever:
Time is money."
Tottenham then continued to describe an experience he had in the 1980's when he was invited to Las Vegas for a gathering and he was hosted by Steve Wind of Mirage, who came was saying all the things he had planned for his casinos, such as a huge hark tank, 3000 bedrooms, a simulated erupting volcano and a lot of this extravagant ideas. He then continued to say how even though it cost a lot of money and it seemed a bit out of this world,
It opened and it was the first integrated resort in Las Vegas, and it was incredibly successful."
Tottenham goes on to say that it is that concept which then spread in Vegas, which douled the gambling haven's income, and he is then followed by Alidad who points out that with all of this having been said, the concept works for sure with no uncertainty, and so adding Europe to the picture, cannot but work. Tash says how Europe has always been the most popular continent for gambling, which a rich history that has always incorporated the daring and exciting play-factor of this industry, continuing to say how in his opinion the continent is not yet aware of just how great IR's would be, and how better it is.
As the conclusive comments come about, Tottenham brings about the Cyprus IR's, and expresses some of his doubts and thoughts about that, whilst Alidad Tash argues that “Cyprwill be ablus e to attract VIP players from China as its owned by a Chinese company” and therefore hope to drive in some of the VIPs. He adds that if Europe looks to add IRs to their portfolio then they must look into expanding in central areas such as Spain or Malta and also the possibility of a Metropolitan area.
There is doubt whether Europe IRs can have the same success as Asian and American IRs in terms of their overall impact but they will still manage to drive a net profit.
Both of these experts will feature in SiGMA's upcoming publication highlighting their accomplishments in the '100 years of experience in gaming' special.
About SiGMA Europe Virtual Expo:
The future of events is here. SiGMA Europe is delighted to announce, for the very first time, an innovative new Virtual Expo taking place on 24th and 25th November, 2020, from the comfort of your own screen. Hot on the heels of the success of the SiGMA Asia and SiGMA Americas Digital Summits, we are elevating your online event experience even further in the form of a fully interactive, state-of-the-art virtual events space, including a brand-new cutting-edge expo floor. Check the full agenda here and register for free!