Las Vegas casinos have created great potential for growth with their presence in Asia. The key to this growth is attracting visitors from the Asian market, especially Chinese gamblers and their love for the game of baccarat.
The marketing of Las Vegas to the Asian customer has been ongoing for several years, and it can be seen clearly in the numbers that it is working. The number of visitors to Las Vegas that identify themselves as Asian was 12 percent in 2013, whereas it was only two percent five years ago.
Because so much of the success is due to cross marketing, it has been the casinos that have a strong presence in both China and Las Vegas that are experiencing the most success. Wynn Resorts, MGM Resorts and the Las Vegas Sands are leading the way. All three companies have a gaming presence in Macau, and all three companies are making most of their revenue from the game of baccarat.
Utilizing their databases, they are attempting to entice their customers in Macau to travel to Las Vegas, where casinos have a more favorable tax rate on their gambling revenue. Table games are more popular in Macau than in Las Vegas with baccarat leading the way in popularity. The Las Vegas Sands not only claims that baccarat is their most popular game, but it represents 63 percent of revenue in their Macau operation for the first quarter of this year.
Wynn Resorts, MGM Resorts and the Las Vegas Sands have expanded their offering of baccarat in Las Vegas, and they have begun to accommodate the Asian customer by offering cuisine and amenities to their specific preferences. The numbers for baccarat popularity in Las Vegas are demonstrating that this cross marketing is starting to pay dividends. The growth of high-end baccarat revenue has climbed to 48 percent of table gaming revenue.
The success of cross-marketing has been successful to the point where Asian based casinos are now looking to expand into Las Vegas. Genting Bhd, a Malaysian based casino operator, is waiting on approval to being construction on a USD four billion project that it plans on promoting to its current customers in the Asian market.