International edition
June 15, 2021

According to Las Vegas Sands COO Michael Leven

Singapore has no effect on Macau

(Macau).- One year after the opening of Marina Bay Sands, it’s clear that Singapore has not stolen business from Macau’s gaming industry, Las Vegas Sands COO Michael Leven said.

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n a podcast interview, he said a supposed cannibalization of the two gaming cities “is really a ridiculous concept” because “the Chinese player’s market in VIP gaming is enormous”.

Leven, who is also the acting chief executive officer of local gaming operator Sands China, acknowledged that some high-rollers from mainland China would go to Singapore, Australia, Las Vegas or other destinations.

“But there is no way you can cannibalize the [Macau] market,” he said in an interview with LVS’ new blog, Sands Confidential.

In addition, Singapore’s market is Southeast Asia, “which is one of the areas with the fastest growth in the world,” the executive stressed.

The MSAR gaming revenue has reached a new record high of MOP 20.1 billion last month, 41.6 % higher than in April 2010, when Marina Bay Sands opened.

For 2011, the company’s priority is “to solidify the company management so that we have a sustainable long-term management team that everybody can be happy with,” Leven said.

“We’re practically staffed up at the corporate level with just a few openings in the field that we have to fill,” he added.

Last month the executive told Macau Daily Times that Sands China was giving up on its search for a new chief executive officer, a hunt that had been going on since August last year after Steve Jacobs’ dismissal.

The company decided to maintain the actual structure, with president and chief operating officer Edward Tracy leading the operation, supported by executive vice president and chief casino officer David Sisk – the two executives were hired in August 2010.

Sands China will instead hire someone who can manage government relations, Leven said. “The person would have some government experience,” he added, without disclosing further details.

 

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