Imperial Pacific reports USD 1.7B casino roll in June

GGRAsia released a note from Union Gaming Securities Asia Ltd analyst Grant Govertsen Monday indicating that some of the weakened gross gaming revenue numbers coming out of Macau may be attributable to increased competition for VIPs from outside the special administrative region, “While we think most of the incremental VIP softness can be lumped into a bucket that includes factors like anti-corruption and economic weakness, it is getting harder to ignore the likely impact of jurisdictions like Saipan,” the industry news outlet reported.

Although rolling chip volume for June was not Best Sunshine’s top performing month since officially opening the casino in November, the volume is still significant. Saipan has a lower tax rate than Macau and a single casino operator who can offer junket incentives such as higher VIP rebates. On April 7 this year, Marianas Variety reported that Best Sunshine’s parent, Imperial Pacific had been given permission by the Commonwealth Casino Commission, on a 6-month trial basis, to increase VIP rebates from 1.3 percent to 1.8 percent. Macau caps the incentives (in the form of commissions paid to junkets) at 1.25%.

Since opening the temporary casino and training center at the T-Galleria on Beach Road in Garapan less than a year ago, Saipan has become the “fourth biggest VIP gaming hub in the world, ranked just after Macau, Las Vegas and Singapore,” according to Mark Brown, President and CEO of Best Sunshine.