Word: resorters
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...although the competition is staged at one of the world's great ski areas, very few visitors will actually ski. "The snow is spectacular. The town is Olympic ready, Games ready. The energy is off the charts," says Bill Jensen, CEO of Intrawest, the company that owns the resort...
...little of that energy will be expended on the mountain. Visitor traffic was down so much the weekend before the Games that Whistler had to advertise the fact that it was open. Part of the reason for the drop in attendance was that the ski resort "lost control of the parking lots on February 1," Jensen explains (they were ceded to the Olympics), so day skiers weren't making the trip...
When Las Vegas Sands threw a party last year to celebrate a milestone in the construction of its gambling resort on the shores of Singapore's Marina Bay, it was a lavish affair. A large white tent was erected on the site, where hundreds of reporters gathered to watch CEO Sheldon Adelson celebrate the roof being laid on the resort's three interlinked towers. As bongo drums pounded, Adelson, 76, turned to the architect of the project to thank him, but not before joking, "Couldn't you have designed it to look as good without the cost...
...hurdle in building up the number of local gamblers and will likely force casino operators to depend more on foreign "high-rollers" to turn a profit. That strategy has its risks, analysts say. Noel-Johnson, for instance, points out that 72% of visitors to Genting's resort in the Malaysian highlands are local "day-trippers," and more than half the visitors to Macau's casinos are gamblers from Hong Kong and Guangdong province who bet with limited cash. "If you look at the successful gaming markets in Asia, they have a dependable local mass market," he says...
...Resorts World Sentosa executives, for their part, say they were aware of the local entrance fees before they bid for the casino. They counter that they have a diverse range of entertainment offerings, including the Universal Studios theme park as well as fine dining and hotels, and so are not solely reliant on gaming. (Local families who elect to only visit Universal Studios and not gamble, for instance, would not have to pay the casino entrance fee.) "Resorts World is on track to reach its target of 13 million visitors in its first year of operations," says Robin Goh, Assistant...