- Woman named ‘Lady Luck’ apparently responsible for Parisian’s drop in earnings
- Casino has seen a overall fall in revenue of 2.5% and profitability drop by 16%
Sands Chief Operating Officer Robert Goldstein has claimed that a woman, dubbed ‘Lady Luck,’ is solely responsible for the Macau Parisian’s recent drop in profitability.
However, the COO did not provide any specifics about the size of her winnings or any other details about the lucky punter. Investors have also queried the effect a single gambler could have on a casino’s numbers.
“One particular customer, she wins every day and she’s doing very well and she affected the numbers”
Robert Goldstein, Sands Chief Operating Officer
Who is the mysterious player?
An investigation, launched by the Wall Street Journal, talked to dozens of members of staff, managers, dealers, security guards, cashers and gamblers yet none had seen or heard of the mysterious player.
When asked for further comment, Ron Reese, a spokesman for Las Vegas Sands said, “Mr. Goldstein was simply using an anecdote that came to mind from his most recent visit to Macau.” The firm declined to answer additional questions on the subject.
Profits in the world’s trending gambling capital, Macau, have declined in past years due to a government crackdown on corruption. However, a small revival has been seen over the last seven months. But it appears that hasn’t translated to Sands China – the local arm of Sands Las Vegas – which has seen an overall fall in revenue of 2.5% and net profitability drop 16% from the previous year.
The Parisian, which opened last year, is the fifth casino launched by Sands in Macau. It’s ‘win percentage’ on mass-market table games was recorded at 18%, which is noticeably lower than other casinos such as The Venetian and Wynn Palace that reported 25% and 22% respectively.
Investors have commented they believe the problem lies not behind a lucky player but more the venue itself. The quality of the attractions and the design of the casino in particular have come under criticism from asset management company, Ample Capital Ltd which owns 2.7% of Sands China.
Unfortunately, it appears ‘Lady Luck’ hasn’t been visiting the Parisian.
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