Whales ahoy
Las Vegas has long relied on “whales”, or players who bet up to US$5 million in the course of a single trip, and Asian tycoons like Oei Hong Leong of the wealthy Indonesian-Chinese Widjaja attract media attention at the gaming tables.
One ethnic Chinese billionaire reportedly gave a US$1 million credit line to his daughter when she turned 21 during a trip to Las Vegas in 1995.
“Casinos everywhere run programmes to attract such players,” said Merrill Lynch analyst Sean Monaghan. These include free air tickets, accommodation and meals.
High rollers account for about 20 percent of global casino receipts, but about 60 percent of Asian revenues, analysts said.
The region’s growing wealth is creating a potential new pool of big players — Asia Pacific now has an estimated 2.3 million people with at least $1 million in financial assets, almost as many as the US, according to Merrill Lynch/Capgemini.
Revenues generated from rooms reserved solely for high-end players of baccarat, a popular card game in Asia, amounted to $3.5 billion, or 61 percent of Macau’s total gaming revenue last year, government data showed.
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