Macau Casino Industry

Macau Casino Industry
Investment Group Project
Macau Casino Industry
Tuesday 8:30 – 11:20 am
Wong Wing Hei Penelope 12141056D
Liu Xiaoyu Ivy 10806758D
Au Chak Chung 12072495D
Wong Yee Ting Gladys 11608217D
Introduction
The reputation of Macau's Casino has more than 100 years of history. In recent years, owing to the
opening up of gambling industry, this reputation further carried forward. Gambling policy depends
not only on local government policy, but also on the tourists' government policy. The policy of
gambling prohibition from tourists' government is always more decisive in deciding the fate of the
gambling industry in one place. There are both certainty and non–deterministic element in
determining the future prospects of Macau gambling industry. In this essay, we would like to first
evaluate the historical performance of the HKEx–listed stocks portfolio in the casino industry. Then
recommend a portfolio of stocks in the industry that can outperform the market. Also, we will
discuss about the rationales behind and make some prediction on our portfolio.
Evaluating the historical performance of a portfolio of stocks
In this part, the historical performance of a portfolio of stocks in the Macau casino gambling
industry will be measured and evaluated. To make a more thorough study of the industry, a portfolio
composed of all the HKEx–listed stocks in this industry is chosen, then the overall performance of
the industry can be found and compared with the whole stock market through
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Wynn Resort
History
Wynn Resorts, LTD was formed by former Mirage Resorts Chairman/CEO Steven Wynn on October
25, 2002, who currently serves as the Chairman of the Board and CEO of Wynn. His knowledge of
the gambling and casino industry is indispensable to Wynn Resorts, as he is accredited to turning the
luxury casino industry in Las Vegas into what it is today. Wynn's mission is: "A commitment to
providing an elegant environment, high quality amenities, a superior level of service and distinctive
attractions for our customers." The company currently has operations in both Las Vegas and Macau
Peninsula in China. Wynn Las Vegas, the company's first development, was opened on April 28th,
2005. A year later, the company broke ground on an extension to ... Show more content on
Helpwriting.net ...
Wynn resorts' greatest marketing strengths are strategic development of its products.
As Wynn resorts targeting same customer segment, high–end customers in both Wynn Macau and
Wynn Las Vegas, they can use cross–marketing strategy to offer customers to travel and vacation in
other parts of the world. Weaknesses
Wynn Resorts completely dependent on Steve Wynn. If Steve Wynn left the company from any
reason other than death or a severe disability, the resort would lose all lines of credit.
Wynn only focuses on high–end customers, missing a large customer base of middle income clients.
As Wynn charges high price, as a result they increase rates at a slower percentage than all other
competitors on the Strip. As an example, Wynn's average room rent increased 4.4% from 2005 to
2006, whereas competitors' rate increased from 5 to 9 percent in that year.
Wynn resort Ltd. being unable to collect its gaming debts of customers from Macau.
Products of Wynn Resorts are non–compulsory. Therefore, propensity to sale these products are
subject to volatility of changing in consumption pattern, both in the US and Macau.
Opportunities
Demographic changes, such as– aging population, who are healthy and wealthy are willing to spent
on fun and recreations.
Gambling is

Executive Summary And Financial Analysis: MGM Resorts
MGM Resorts is scheduled to report fourth quarter earnings February 18, after the market closes.
The company is coming off 3 consecutive quarters of beating on the bottom line with similar
expectations for this Thursday. The Estimize consensus is calling for EPS of $0.09, 1 cent higher
than Wall Street, and revenue expectations of $2.282 billion, roughly $30 million higher than the
Street. Compared to Q4 2014, this represents a projects YoY increase in EPS of 29% while revenue
is expected to fall 3.6%. That said, the Estimize community has been bullish on MGM's
profitability, revising their top line estimates up 50%, since the company's most recent report. All
eyes will be on casino performance in Las Vegas and Macau when the company reports

Everyday Macanese Life
Life of Everyday Macanese– Macau the Imaginary City 1557– present by Jonathan Porter is the
fifth annotation I want to do for my research project. Macau is a port nation surrounded by sea and
there are no supplies of food or water that Macau can self–sustain. Instead of growing food, Macau
became a busy port for European and Asian traders where they collected taxes as a form of living.
Of course, under the Portuguese government, all the taxes were given to the crown. In Macau, there
is no such position as a farmer or a blacksmith. Instead, merchant and bankers became the most
popular form of making a living due to the lack of resources. Today, Macau's economy heavily
depends on the European and Chinese tourists coming here to gamble. Gambling is the main source
of ... Show more content on Helpwriting.net ...
Trading was not only through exotic goods. Languages, religions, and cultures were also exchanged
between the 16th century to the late 20th century. When Macau became independent from the
Portuguese rule, many of them immigrated to Australia, Canada, Portugal, South America, or the
United States to open up restaurants, grocery stores, illegal gambling sites, and just random gift
shops. Macanese today loathed the Chinese government and does not even want to imagine what life
under the direct Chinese ruled will be. Some are afraid that the currency they have will need to be
exchanged into Chinese dollars, other are afraid that their properties will be confiscated by the
Chinese ( under Communism, everything belongs to the government. Some Christians fled Macau
because they know that the Chinese authoritarian are against any sort of religions. They fled due to
possible religious persecutions. It was also generally acknowledge that after independence, the huge
Chinese corporations will take over most of the economy of Macau leaving its local population poor
and

Wynn Resort
EXECUTIVE SUMMARY Wynn Resorts Limited is a publicly traded corporation based in
Paradise, Nevada that is a developer and operator of high end hotels and casinos. It was formed on
October 25, 2002 by former Mirage Resorts Chairmen and CEO Stephen A. Wynn. The target client
base for Wynn Resorts are affluent individuals who seek the highest quality–Wynn and its sister
property Encore hold more Forbes Five Star awards than any other casino resort in the world.
Recently, Steve Wynn has taken his brand global by building in Macau, China. With the opening of
the Wynn and Encore Towers, Steve Wynn has proven that upscale gambling can be accomplished
outside of Las Vegas. Steve Wynn's marketing strategy is to emphasize the quality of service ...
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In Macau the company's revenue increased from $392.2 million in the fourth quarter of 2008 to
$508.4 million in the fourth quarter of 2009.
Wynn Resorts, led by the romantic and visionary leader Steve Wynn, is a leader in the gaming and
casinos industry. Following its mission statement of, "A commitment to providing an elegant
environment, high–quality amenities, a superior level of service and distinctive attractions for our
customers," the company is well known for its luxury and excellence. Some major competitors in
the Industry are MGM Mirage and Trump Entertainment Resorts. Fortune Magazine said that
"Wynn, which also led casino resort operators in 2009, ranked second in the hotel, casino and resort
category for innovation and number 3 for people management, quality of management and quality
of its products and services." Wynn Resorts management strategy is that of focused differentiation.
They create products and services that are unique and valued in which customers will pay a
premium and they focus on an upper class segment. The company does well in management or in
parenting, by using the experience of the corporate office and the support of the corporate office.
Wynn Resorts does an excellent job in branding and is a big part of the company's core
competencies.

Case Study : Las Vegas Sands Corp
The strategy would be to expand into the already lucrative Macau casino market with one of the
most successful casino/resort in the Las Vegas area, the Bellagio. MGM already has a foothold hold
in Macau Market, which is provided due to a partnership with Pansy Ho and the successful MGM
Macau. The main competition in this area is: Las Vegas Sands Corp. (LVSC), which have 7
properties in the Macau area, Galaxy Entertainment Group (GEG), which have 3 properties and
Wynn Resorts Ltd. (WYNN), which have two. Competitive Environment
Competition comes in the form of three Corporations: Wynn Resorts (WYNN), Galaxy
Entertainment Group (GEG) and Las Vegas Sands Corp. (LVSC). All three have laid claim to
success in the Macau casino market, with annual gambling revenues of more than $13B, it is the
largest casino gambling jurisdiction in the world (gaming.unlv.edu, 2015).
Wynn Resorts (WYNN) is a corporation that is publicly traded based out Paradise, Nevada. Steve
Wynn founded the company in 2002. WYNN has four casino properties in the world; two based in
Las Vegas and two in Macau. The Las Vegas properties are the Wynn Las Vegas Resort and Country
Club and the Wynn Encore. Their Macau properties are the Wynn Macau Resort and the Encore at
Wynn Macau. Wynn is traded on the NASDAQ exchange and as of 9/9/15; the stock was listed at
$74.88 (phx.corporate–ir.net, 2015). The Wynn Las Vegas generated $528M in earnings before
income, taxes, depreciation, and amortization (EBITDA)

My Chinese Identity
Another part of my identity is Chinese. The Chinese population in Penn State is large compared to
other minority groups. There are two typical stereotypes of Chinese. The first type is rich, party all
the time and don't study. The second type is nerd and study all the time. My parents didn't really
stress about my grade. In middle school, I was one of the worst students in the class. Macau does not
have standardized test like SAT and ACT. It is very easy to accept into college in Macau. The
unemployment in Macau is low. Even though I don't study, I can still get a job in Macau. I didn't feel
the pressure like other Chinese does. I studied abroad when I was in high school. I met Chinese
students from various backgrounds. Most of them had a

Macau Pension Fund
Table of Contents Introduction 3
1.0 Introduction
Social Security Fund (SSF) was established on 23 March 1990 to provide basic social security for
the Macau residents. According to the Act 84/89/M, Social Security fund would provide subsidies or
assistance for unemployed, sick and retired people. This was the so–call "the first tier of social
security". At the same time, SSF was positioned as a financially independent fund under the local
government.
In Macau, Pension fund is included in the SSF, and there is no separation between the management
of pension fund and SSF. Instead, pension fund is considered as an expense from the aspect of
financial management. All the working people, including non–permanent and permanent ... Show
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During the financial crisis, there was even a negative return recorded in 2008. By ignoring year
2008, there is still a downward trend of the return.
According to the 2010 annual report of SSF, 72.43% of SSF balance was deposited into local bank,
the remaining proportion was entrusted to fund managing company for only low–risk investments.
Under the fix–rate hedging between MOP and HKD, the interest rate of Macau is close to interest
rate in Hong Kong, which is similar to US interest rate. Since the 2008 financial crisis, Fed has
applied the ultra low interest rate and the interest rate is believed to be maintained until 2014. So, a
72.43% of deposit in an investment portfolio is reasonably considered as inefficient.
3.4 Irregular government subsidies
In 2008 Macau government introduced the "Wealth Partaking Scheme". Each permanent resident
will receive the cash check issue by government and each non–permanent residents would received
60% of the partaking amount to permanent resident. The aim of the scheme is to share the result of
economic development under the high–inflation economy. However, in some people's view, the
scheme has been considered as supplement of social security and thus expected to transfer the
scheme into regular subsidies.
Beside the partaking scheme, Macau government established the "Central Saving Plan" – to inject
certain capital into individual account of all the permanent attained the age of 22 in the year. The

Essay on Case #30
Read Case #30– Wynn Resorts and answer the following questions: By: Janice Jenkins June 9, 2013
1. What is the importance of Mr. Steven Wynn himself, to the Wynn Resorts company? Steve Wynn
followed his passion as an entrepreneur and has changed the world of gaming. He has become the
most talented casino gamer the world has ever seen. His patient, the man that he became has earned
him a spot in the gaming world that can never be taken away from him He chose to make a smart
move by purchasing the Desert Inn, and within eighteen, weeks he closed the Inn. He developed the
Las Vegas casino which is worth billions of dollars in today's market. His brilliant billion dollar
strategy plan makes him powerful to the Wynn Resorts ... Show more content on Helpwriting.net ...
I am sure if I took a million dollar business and turn it over night into a billion dollar business can
be significant to a company. The investment in the Wynn Resorts reached great potentials in a short
time. While it may not be the largest Resort in the world, it has earned its place in the gaming world
as the best in its business. What potential problems could arise if Steve Wynn left the Wynn Resort
Company? Should Steve Wynn leave the Wynn Resort Company it could be disastrous for the
company. If it had not been for Steve Wynn, the Wynn Resorts Company may not exist today. The
company could lose many investors as well as lots of dollars and respect that the company has
gained over the years throughout its short life span. Wynn pulled out of a developing project in
Suffolk Downs, in East Boston, which could have brought in competition for the other Resorts in its
area, but without Steve Wynn there cannot be any gain. He may be the man with the plan to boost up
competition in the casino gambling market. He has the strategy plans to get the job done so, lose
him and cut off Wynn Resorts life support, Mr. Steve Wynn. 2. What are the strengths and
weaknesses of Wynn's Macau (People's Republic of China) strategy? One of the main strengths of
its performance were the table games revenue increase. They came from the new Encore in Macau
and Las Vegas higher revenue of its table games. Strength that Wynn's post operation profit could be
up eight–two percent

The influence of Individual Visit Scheme Essay
Academic Year 2013/2014
MGMT4160–42121
Selected topics in Management
Group project
Title:
The influence of Individual Visit Scheme in Hong Kong and Macau
Background
The Individual Visit Scheme (IVS) began on 28 July 2003. This scheme allows Mainland resident
visit Hong Kong or Macau on an individual basis. Before the scheme, China resident must travel to
Hong Kong or Macau with a business visa or group tours. In general, as long as people is in the
scope of cities, it can take the simple visa (Special licensing) procedure going to Hong Kong or
Macao, people can stay at most a week in the period. From now, 49 Mainland China cities' resident
can use individual traveler visit Hong Kong and Macao. ... Show more content on Helpwriting.net ...
The imbalance of industrial structure, the high earning of gambling industry in Macau drives other
industries' manpower flow to the gambling industry that other industry's manpower is shortage, the
small and medium enterprises difficult to maintain their living.
Second the Parallel Traders problems increase the demand of household items especially for baby
milk powder that affects the local residents' demand which caused the Hong Kong government
enacted the limit of milk powder.
Parallel Traders lead to influence on the surrounding environment and the rent increased, especially
Sheung Shui and Tai Po of Hong Kong those boundary areas.
Serious traffic congestion, both Macau and Hong Kong are facing many vehicles and many
Mainland visitors crowd in street and Macau's street restricted by terrain, narrow and circuitous.
More and more casino's construction projects started many vehicles, tour bus and free shuttle bus
come into use pushing the pressure on the traffic.
Crime increased, Hong Kong and Macau has increased many crimes due to open for Individual visit
scheme especially for Mainland. The visitors breached the law most of them was sneaked to Hong
Kong or Macau but after the scheme the criminals was through the boarder gate openly came to
Hong Kong or Macau.

The cases of

Film Review : Hollywood Themed Resort Essay
Hollywood–themed resort opens in Macau: China caters to family friendly casino resort
China has gone Hollywood. Macau debuts its family friendly casino resort with Hollywood themes
and big budget attractions. Enlisting Hollywood's elite for the opening night, director Martin
Scorsese premiered a short film titled, "The Audition" starring Leonardo DiCaprio and Robert De
Niro. The audience was given a glimpse, through scenes in the film, into the extravagance that is
Macau's Studio City resort.
The Studio City development, at a cost $3.2 billion, is the new vision of Macau; one of the first of
its kind in China to cater to middle class families, and not wealthy gamblers. Melco Crown
Entertainment partnered with Warner Bros. to bring to life old Hollywood charms, magical
illusionists, and a 5,000 seat theater that housed Mariah Carey as the first opening act. The theater is
also designed to host concerts, awards shows and sporting events.
Envisioning the theme of the resort, Lawrence Ho Yau–lung, co–owner and CEO of Crown, states,
"We don't like to cookie–cut things. This time we knew we wanted something over the top." And
that is what was created.
This massive complex accommodates a Batman–themed flight simulation that takes patrons through
the streets and skies of Gotham City. Thinkwell Group, which has designed many attractions
globally, created The Fun Zone, a play area with 40,000–square–feet of entertainment. Think DC
comics meets Looney Toons. With age–appropriate

Competitive Analysis : Wynn Resorts
Competitive Analysis
The strategy would be to expand into the already lucrative Macau casino market with one of are
most successful casino/resort in the Las Vegas area, the Bellagio. MGM already has a foothold hold
in Macau Market, which is provided due to a partnership with Pansy Ho and the successful MGM
Macau. The main competition in this area is: Las Vegas Sands Corp. (LVSC), which have 7
properties in the Macau area, Galaxy Entertainment Group (GEG), which have 3 properties and
Wynn Resorts Ltd. (WYNN), which have two. Competitive Environment
Competition comes in the form of three Corporations: Wynn Resorts (WYNN), Galaxy
Entertainment Group (GEG) and Las Vegas Sands Corp. (LVSC). All three have laid claim to
success in the Macau casino market, with annual gambling revenues of more than $13B, it is the
largest casino gambling jurisdiction in the world (gaming.unlv.edu, 2015).
Wynn Resorts (WYNN) is a corporation that is publicly traded based out Paradise, Nevada. Steve
Wynn founded the company in 2002. WYNN has four casino properties in the world; two based in
Las Vegas and two in Macau. The Las Vegas properties are the Wynn Las Vegas Resort and Country
Club and the Wynn Encore. Their Macau properties are the Wynn Macau Resort and the Encore at
Wynn Macau. Wynn is traded on the NASDAQ exchange and as of 9/9/15; stock was listed at
$74.88 (phx.corporate–ir.net, 2015). The Wynn Las Vegas generated $528M in earnings before
income, taxes, depreciation, and

Housing Price Dynamics : A First Order Logarithmic...
Housing Price Dynamics in Fast–Growing City–State Economy: A First Order Logarithmic
Differential Linear Regression Approach in the Case of Macau Shansong Yu November 2014
ABSTRACT This paper studies housing dynamics in Macau using first order logarithmic
differential linear regression approach. Seven potential drivers including interest rate, preference
towards property allocation, gaming industry revenue, consumer price index (general), domestic
purchase, foreign purchase and the buyer component of the market are analyzed. The linear
regression analysis yields a large and statistically significant effect on domestic purchase, foreign
purchase and buyer component. Two possible explanations are given for the insignificant factors.
Key ... Show more content on Helpwriting.net ...
After the Macau government ended the gaming monopoly in 2002, Macau achieved the highest
GDP per capita by purchasing power parity as of 2013, from the statistic of the World Bank. 1.2
This paper used three models to study seven drivers to the changes in housing price in Macau. To
minimize the influence of multi–collinearity and multi–correlation problems among the items, first
order logarithmic differential linear regression is introduced to the model. factors being studied are
as follows: interest rate, preference towards property allocation, gaming industry revenue, consumer
price index (general), domestic purchase, foreign purchase. In the later section of the paper (Model
II), percentage of foreign purchase is introduced to replace domestic purchase and foreign purchase
to examine whether buyer component is related to the change in price. In model III, time lag effect
is also taken into consideration in the model and examined. Regression result suggest that foreign
and domestic transactions has signification effect on the changes in housing price, while changes in
consumer price index, gross gaming revenue, preference towards property allocation on newly
married couples and interest rate did not show signification short–term effect. In analysis, I
proposed two possible explanations for this phenomenon. On the other hand, buyer component has a
significant influence to the change in price. The

Advantages and Considerations for Wynn Macau’s Casino
Executive Summary
Wynn was among the first 3 concessionaries to enter Macau when its gaming industry was liberated
and quickly became one of the most profitable casinos in Macau relative to its size. Junketeers have
contributed greatly to win's success, along with government initiatives. Though gambling is illegal
in many parts of the world, the industry is growing and competition is increasing, particularly in the
east By 2015, the Asian gaming market is expected to be the biggest in the world. In order to
continue to thrive in this growing industry, Wynn will have to consider expanding.
Wynn Macau's competitive advantages include physical capital and human resources. Wynn Macau
has had some recent and very public legal troubles but it ... Show more content on Helpwriting.net
...
Macau's gaming industry is void of "frequent price wars, proliferation of new products, intense
advertising campaigns, and high–cost competitive actions and reactions" (Peng, 2014, p. 35),
indicative of a low degree of rivalry among competitors. In the future as Macau attracts more, the
industry's profitability may be susceptible to decline because of the following characteristics: rising
number of firms in the industry, rivals are similar in size, influence, and product offerings, capacity
is added in large increments, and high exit costs. (Peng, 2014, p. 37) New casino projects are
already popping up in the nearby region and looking to attract high–rollers away from Macau. This
particular market segment has been an integral part of Macau's growth and currently accounts for
60–65% of the revenues of its largest casinos (The Economist, 2013). As Chinese leaders attempt to
zero in on leadership corruption, high–rollers seek alternatives to the restricted Macau.
1.2 Threat of Potential Entry In general, scarcity is one of the factors driving the SAR's success in
the gaming industry. Firstly, the Macanese government is exercising tight control over its
concessions by carefully selecting winners and holding them accountable to their obligations. Next,
we have the issue of land availability for development. Macau is a small peninsula measuring 28
square kilometers. As a result, there is little room for license–holders to

FILIPINOS IN MACAU Essay
FILIPINOS IN MACAU INTRODUCTION In the past few years, Macau has become an
international destination. The liberation of gaming license had bought about large foreign
investments and facilities infrastructure. Macau, a sparkling metropolis at night, is home to
thousands of overseas Filipino workers . One of its eye–catching characteristics is certainly its large
Filipino community. Filipinos represent the second largest group of non–resident workers in Macau
after mainland Chinese. It also becomes abundantly clear that these people are mostly found
working in lower paid jobs. Maybe because the most compelling advantages the Philippines has
over any Asian country, is the fact that Filipinos are competent and highly–educated. However, more
... Show more content on Helpwriting.net ...
Recruiting agencies for labour export were privatized, making it a cornerstone of the Philippine
national development strategy.The Internet has many web pages advertising agencies that provide
domestic helpers to Macau citizens. Some families may employ more than one person for the
cleaning and taking care of children, but very often, the same person under the name of domestic
helper handles both jobs. Some of the disadvantages the workers are subject to, including the "six–
month waiting period" must be given attention. Domestic helpers don't have much bargaining
power. Employers can fire them all in a sudden just because they don't like them. The workers can't
voice out but have to tolerate, as they don't want to go back for six months and then come back. If
the women still decide to come to Macau, scarifying their family life and are quite satisfied in spite
of their little income it can only mean that their conditions in the Philippines are much worse. The
difficulties a domestic worker experiences affect her mental health. This finding is not new and it
can be explained for obvious reasons such as stressors leading to increased levels of anxiety,
depression, trauma and bodily symptoms that have no physical cause. However, the main results of
the research are stimulating and unforeseen. (http://www.macaudailytimes.com.mo/extra–
times/features/34468–a–look–at–the–local–filipino–helper–community:–macau%E2%80%99s–
mary–poppins.html)

What Was The Impact Of Portuguese Imperialism
137 years after Henry The Navigator first established Portuguese imperial ambitions with the
founding of his famous "School of Sarges" in 1553 (Mariners, Prince Henry the Navigator),
Portuguese traders landed on Macau. By the middle of the sixteenth century, the world stage was
marked by the rise of expansionary and imperialistic idea within Europe. Europeans were driven to
increase trade with the West in order to maximize profit . The colonization of Macau was
instrumental to the formation of Sino–Portuguese relations especially in matters concerning trade.
Imperialism however, had more impactful implications. Wars started and ended without just cause
and thousands were massacred. Indeed, Portuguese imperialism led to the rapid destabilization of
China, and the rise of internal struggles for independence from colonial rule. ... Show more content
on Helpwriting.net ...
Their naval superiority and pre–existing trade outposts allowed them to establish a firm grip on
trade routes globally (Roberts, 638). Their motives for colonization proved to be various.
"Portuguese colonialism was guided by two principal objectives: the trading of spices and other
goods, and the religious conversion of indigenous populations" (Xavier, Before Macau: Portuguese
Colonialism and Early Transnationalism in Asia). The Portuguese relied particularly on outposts
scattered across the world to maintain their empire, and sustain trade routes. Within the empire,
Macau functioned primarily as " a base for trade and communication with China" ( Victoria &
Albert Museum, Trade with Asia 1500–1800: Trade Routes). Portugal's empire was considered more
of "a commercial operation based on [the] possession of fortifications and posts ... for trade" rather
than other European nations, which preferred claims to resource rich lands over naval domination
(Britannica,

Analysis Of Hrm System Of Marriott Macao
The Analysis of Whole HRM System of Marriott, Macao Abstract: This paper is designed to take
JW Marriott, Macao as an example to detailly analyze the whole HRM System of Marriott, Macao.
And this research team intends to figure out the problems in this HRM system and come up with
suggestions to optimize the HRM system. The data and information were mainly obtained from the
interview with the employees of JW Marriott, Macao and the official website of Marriot. As the
results show, HRM system of Marriot, Macao is high efficient and will maximize the use of human
resource. Based on the interview, this research detailly analyze the whole system of HRM in this
paper, and pointed out the problem among this system, including unfair compensation & punishment
system, problems on recruiting the temporary employees, and training procedures. And this research
team comes up with following reasonable suggestions according to the problems ... Show more
content on Helpwriting.net ...
Dose the evaluate related to the salary, bonus, or promotion opportunity? Wendy: Every end of year,
we have the evaluation about the working performance, working effect and the ability of solve the
problems, the evaluation is according to a specific standard which include self–evaluation and
superior evaluation, it is surely that related to the salary, bonus and promotion, but also have some
individual color. Interviewer: What is your hotel's reward and punishment measures? And what is
the response of the employee? Wendy: We have some bonus when the employees have a good
performance but usually only a few people can get the bonus. If you make some mistakes, you
should write the criticism text, but if you make the mistakes three times, you may be fired. I think
these ways can encourage or restrain employees in some degree, we should only obey it because the
rule is right here. Interviewer: What channels of communication and coordination can you use
between your hotel and your

St. Macau Falconieri: A Brief Summary Of The Sacred Church
St. Juliana Falconieri
St. Juliana Falconieri was born in Florence, Italy in 1270. Her feast day is on June 19. She is the
patron saint of chronic illnesses, bodily ills, sick people, and sickness. Her parents were Chiarissimo
and Riguirdata Falconieri. St. Juliana was an only child from a very rich Italian couple. Her father
built the splendid church of the Annunziata in Florence, while her uncle became one of the founders
of the Servite Order. Under his care Juliana grew up, as he said, more like an angel than a human
being. She had so much modesty that she never used a mirror or gazed upon the face of a man
during her whole life. If anyone even mentioned sin, she would shudder and tremble. One time,
when hearing a sin related topic she was rendered unconscious. Her devotion to the sorrows of Our
Lady drew her ... Show more content on Helpwriting.net ...
Juliana Falconieri performed one miraculous miracle while dying. According to the story, when St.
Juliana lay dying from her chronic illness, she had requested for a priest put the Holy Communion
over her, since she was not able receive the Holy Communion. As the priest laid it over her she died.
The Sacred Host then disappeared at the same time, and an image of the Sacred Host was found on
her skin directly where the Host had laid moments before. There are many positive qualities that can
be said about St Juliana. For example she was very modest and humble. It is said that she never
owned a mirror, nor even took the slightest glance at a man. She even trembled from the mention of
sin. Whenever sin was brought up, St Juliana would start to feel sick and even sometimes became
unconscious.
St. Juliana became a saint because of her angelic reputation. She was often commented on how nice
she was to others. Some people even accused her of being unhuman. She also showed extraordinary
wisdom and holiness. Many times she was noticed for being extremely devoted to God. Juliana had
such a big devotion to Our Lady that she even decided to become a Servite

Questions And Assignments Of Analyzing Marketing...
The Questions and Assignments of Analyzing Marketing Opportunities
Review Questions
Q1. What are the differences between market, feasibility, and situation analyses?
A situation analysis is similar to a market analysis, but is done for an existing business. It is a study
of the marketing strengths, weaknesses, opportunities, and threats of a business or other type of
organization. However, a market analysis is a study of the potential demand for a new or expanding
hospitality or travel business or other type of organization. It determines whether market demand is
large enough. And feasibility analysis is a study of the potential demand for and economic feasibility
of a business or other organizational type, and it includes a market analysis ... Show more content on
Helpwriting.net ...
What are the six components of a market analysis?
a) Marketing Environment Analysis. How will marketing environment and controllable factors
(marketing mix or 8 Ps) affect the organization's direction and success?
b) Market Potential Analysis. Is the potential marketing large enough?
c) Primary Competitor Analysis. What are the main strengths and weaknesses of primary
competitors?
d) Location and Community Analysis. How will the site and community contribute to success?
e) Services Analysis. What services can the new business provide to meet the needs of potential
customers?
f) Marketing Position and Plan Analysis. How can the new business crave niche for itself in the
potential market? What are the keys to marketing the new business?
Chapter Assignments
Q1. Pick hospitality and travel organization and decided how you would prepare a situation analysis
for it. Where would you gather the necessary research information? Who would you involve in its
preparation? Of time permits, try to prepare the situation analysis and assess the organization's
major strengths, weaknesses, and

Gambling Surrounding The Asian And American Asian Communities
Gambling in Macau Gambling has made immense impacts on the everyday lives of a countless
amount of people. Somehow this western pastime has integrated and almost taken control of the
Asian and American Asian communities. The gambling issue within the Asian culture has affected
families, and individuals in such drastic ways. Within the last few years we have seen an immense
outburst of gambling in Macau, which is now the gambling capital of the world. Along with the
recent outburst of gambling in Macau we find the dark side of gambling. The illegal activities that
follow gambling have taken a toll on society as well as the people involved. Also we quickly see the
economic impact made by all the money flowing through Macau. Gambling ... Show more content
(Asian–Nation) These rates are ridiculously higher than the rate we find throughout our entire
nation. Current data suggests that only 1.6% of Americans can be classified as pathological
gamblers, and about 3% are considered problem gamblers. (Asian–Nation) Within the immense
gambling world in America, roughly 80% that take part are Asian Americans. (Asian–Nation) With
these alarmingly high rates in mind we must look past the thought of this being solely an addiction
for Asians and Asian Americans but rather a part of their tradition and culture. As Samuel
Huntington said, " Civilizations are differentiated from each other by history, language, culture,
tradition and, most important, religion. " (Huntington, pg. 25) In Asian and Asian American tradition
and culture, gambling is to be considered an accepted practice at home and in public. (Asian–
Nation) Asians accept gambling due to their deep fascination with the mystical qualities of luck,
fate, and chance. (Asian–Nation) Claimed by an anonymous Chinese gambler, "We have this saying
in Chinese: if you don't gamble, you don't know how lucky you are." (Psychology Today) This quote
shows the social and traditional connection between Asian people and gambling. Proving that this
cannot be defined as an addiction. The strong belief in luck, fate, or fortune is part of the driving
force behind Asians and gambling. (Psychology Today) In the Asian Culture during the Chinese
New Year we see

Wynn Resorts Limited
In order to answer the questions in this week case study I believe it's necessary to provide a
summary of Wynn Resorts, Limited. According to Yahoo Finance Wynn Resorts Limited together
with its subsidiaries, engages in the development, ownership, and operation of destination casino
resorts. The company owns and operates two casino resort complexes in Las Vegas, the Wynn Las
Vegas and Encore at Wynn Las Vegas with two hotel towers with a total of 4,750 hotel rooms,
suites, and villas; 240 table games; 2,195 slot machines; a race and sports book; 1 poker room in
approximately 186,000 square feet of casino gaming space, including a sky casino and private
gaming salons; 35 food and beverage outlets; 2 spas and salons; lounges; and ... Show more content
Wynn has the advantage of setting themselves apart from their competition in the luxury category,
by providing high‐end shopping and dining and creating the resort atmosphere. Although the gaming
industry resorts are impacted by poor economies they are not affected like many people think. High–
end players or those with high incomes generally will not change their spending patterns
dramatically when the economy is suffering. What this tells Wynn and others in the gambling
industry is that to survive through recessions it is critical to hold the market share of the high–end
players. With the Chinese government relaxing restrictions, the Chinese citizens have freedom to
become those high–end players that Wynn Resorts seeks to attract. Considering the financials
provided within the case study Wynn Resorts Limited is in a sound financial position to make such
an investment.
In order to apply Porter's Five Forces I would first like to define it and provide a visual
representation. (Porter, 2008)
Porters Five Forces:
Threat of new entrants: New entrants to an industry bring new capacity, the desire to gain market
share and often substantial resources–Low
Threat of substitute: The existence of products outside of the realm of the common product
boundaries increases the propensity of customers to switch to alternatives.–Low
Bargaining power of buyers: The bargaining power of

Misconceptions Of Culture In Postcards From Tomorrow...
Recently, I read Postcards From Tomorrow Square by James Fallows. This book addresses the
Universals of Culture by exploring different misconceptions about China and proving them wrong.
From exploring the television programming to entrepreneurial endeavors, Fallows tries to paint a
new picture of China. In America, we have many preconceived notions of what China and its people
are like, but if you explore the country, you'll see how unique and complex China really is. Three
examples of this include: China's recent industrial boom, China's game shows, and China's gambling
industry. These each highlight some of the most prominent Universals of Culture in China. The first
example of a Universal of Culture the author is in the chapter titled ... Show more content on
Helpwriting.net ...
This explores the economic powerhouse of Macau. This peninsula, once a Portuguese colony, has
become the Asian center of gambling in recent years, generating revenue for China. There are three
Universals of Culture at play here: Themes, Economics, and Recreation. These three things each
contribute to the vibrant and complex workings behind Macau. Fallows explores the clashing ideas
of traditional Chinese values versus westernized values, and how they can affect Macau. For years,
Macau has thrived on shady underhanded dealings, generating money creating by systems lacking
transparency. With more outside investors flooding into China, Macau is forced to reconsider its
views on different systems of running itself. "While China's overall economy has grown about 10
percent per year since the 1980s, Macau's has recently been growing by 20... While the rest of China
is struggling to contain the tensions between the very rich and the very poor, via what the central
government calls its "harmonious society" policy, Macau is rushing to make itself more attractive to
the very rich–and to anyone else who would like to visit the only part of Chinese territory where
casino gambling is legal. (State–run lotteries are the only legal gambling outlet on the mainland.)"
The article later explores the challenged of international investors putting their money into Macau.
This shows that Macau is facing a very

Reflection On Hospitality Management
For the planning of our bachelor degree, we have one course are called Convention and Hospitality
management. It is held on the year 3 summer holidays. It is from June23 to August23. I already
finished the internship and this reflection report is a record what happens to the internship. In this
time, my internship company is Wynn Macau and my position is Front Office Services Agent. As I
am interested on fronts of line's work and prepare for my future career. This is really a valuable
opportunity let me worked there. Wynn Macau is one of the 5–star deluxe hotels ranting in Macau. It
has 1007 room between Wynn Tower and Encore Tower. Wynn Macau is also got 5 stars ranting of
Forbes rewards 2014. That includes the two hotels: Wynn and Encore Hotel, the spa and health
centre and ... Show more content on Helpwriting.net ...
Some of them will focus telling you the information. In this period, I am very working hard on mark
notes on anything that my buddy talked to me. That's included some useful telephone numbers, the
operation time of the shops and restaurants, and some useful skills about the system. The benefit and
the way that buddy with senior before the training classes is let us simply know how the operation
is; mark down the questions that you are not understand, etc. After a week, the training is started. It
took me 9 days to learn to use the "Opera" front office operation system. We have training book and
the trainer will teach us all the things that we must know to use. The last day of the training is also
the exam. It defined in the writing and case exam. After the training, we will like the other senior
agent to work in the counter. We will still buddy for one week before we work individually and use
our cash float. If you think the internship is special from the others in the department; no need to
take the cash float and just responsible on the easier work. Maybe some of hotel will be this way,
but it is not appear in Wynn

VIP Banquet Project for Grand Lisboa Macau
| QMDS400 PROJECT MANAGEMENT | VIP BANQUET PROJECT FOR GRAND LISBOA
MACAU | 2012/11/30 | Contents VIP BANQUET PROJECT FOR GRAND LISBOA MACAU 0 1.
Introduction 2 2. Scope Planning 4 2.1 Purpose 4 2.2 Scope Management Roles and Responsibilities
5 2.3 Scope Statement 5 2.4 WBS And WBS Dictionary 6 2.5 Scope Control 9 3. Resource
Management 9 3.1.1 Gantt Chart 9 3.1.2 Critical Path 10 3.2 Resourcing Project 11 3.2.1 Available
Resources 12 3.2.2 Vacation Days 12 3.2.3 Assign Resource To Each Activity (WBS) 13 3.2.4
Assign Resource To Each Activity (Gantt Chart) 15 3.2.5 Resource Histogram 16 4 Cost
Management 17 4.1 Cost Management Plan 17 4.2 Use Microsoft Project For ... Show more content
The VIP banquet will be held on the date of April 5th. In the banquet, we will offer foods, drinks and
entertainments. For more details, we decide to hold this banquet in the Banquet Hall of Grand
Lisboa. We plan to invite the chef from Robuchon a Galera which is a three Michelin–starred
restaurant located in Grand Lisboa. All VIP invited will enjoy their dinner time with the delicious
French food. During the banquet, some singing and dancing shows will be held on the stage. At the
end of the banquet, it's time to gamble. We will prepare several VIP gaming rooms for our guests.
VIP gambles will be invited move to the rooms to enjoy Baccarat. We hope our project will be
successful to make our VIP guests relax and have fun during the banquet and push them to gamble
in our casino in the future. 2. Scope Planning 2.1 Purpose The purpose of this scope management
plan is to define the scope for the VIP Banquet Project. It provides a formal guideline for planning,
defining, controlling, and verifying the scope of the project throughout its duration. This includes
roles and responsibilities for all project participants, the work breakdown structure (WBS),
managing scope and changes to scope, and scope verification measures to ensure that deliverables
meet their original intent in accordance with the project scope. 2.2 Scope Management Roles and
Responsibilities The project manager, sponsor and the team members, they are

My Study Of Engineering School
As part of my studies in engineering school I made a professional mission in China in November of
2015. I worked on an external purchasing office, Lenopan LTD, based in Zhuhai. My mission
started on the 11–07–15 and finished the 12–04–15.
Lenopan LTD is an external purchasing office who was created by Maxime Blanc in Zhuhai. This is
one of the strategic spot in China due to his proximity with Hong Kong, Macao and Shenzhen where
we can find a lot of manufacture industries.
This place near of Macau and Hong Kong is a good place for the customers who come from USA,
Europe or Australia. Since 1980 Zhuhai is a special economic area which have special economic
legislation for customs duty, low company taxes, economic repatriation for foreigner companies.
With this position, Zhuhai gets capital injection from these foreigner companies who want to invest
in China. For example Siemens, Carrefour, ExxonMobil, British Petroleum and Hong Kong have
22% of the total foreigner investment.
Mr Blanc created Lenopan in May, 2015. I came on November 15th, so the company was working
with its first clients. The main goals during this period was to define the exact way to make a
sourcing study, inventory all the tasks and refine the honorary for this kind of work.
I worked for an American customer who wants to sell products made in China in the USA and
Europe. The contract between Lenopan and this customer is like a bundle . We need to search 12
products per month for a fixed price.
First of

How Did The Portuguese Influence The Colonization Of China?
In many ways, nations can be defined by their trade relationships. Before the Age of Exploration,
European nations remained isolated, with most of their trade coming from neighboring countries.
Similarities between nations in close proximity to one another limited the amount of influence each
culture had on the other, as their proximity allowed the cultures to blend regardless of trade
relations. However, as the Age of Exploration unfolded, western nations rapidly came into contact
with eastern nations. The massive differences in culture between East and West opened the door to
new, dramatic influences on eastern nations. The colonization of China and Portugal provides one
example of this form of influence. Although trade routes to China ... Show more content on
Helpwriting.net ...
Furthermore, regulatory issues directly impacting the Portuguese overrode the governing powers of
the Mandereen allowing the Portuguese to influence large scale decisions in the region. The
Portuguese also significantly influenced the structure of Macanese government. For instance, in
Macau, two tiers of government were established by the Portuguese, the Senado and the General
Council. The Senado, comprised of three councillors, two judges, and one procurator, were elected
to the General Council to resolve delicate local matters. Due to the organization of the Senado,
many consider Macau to be, "the first democratic republic of the Orient." Through a unique form of
covert government influence, the Portuguese altered the course of Macau's political and social
landscape.
Another significant way that the Portuguese were able to influence the residents of China is through
language and literature. With the mingling of Portuguese and Chinese cultures, pure Chinese
languages spoken in cities like Macao evolved into hybrid dialects. In Macao, there are three forms
of hybrid languages. One form that is spoken by the lower classes, another form that approximates
to a

How Did Religion Influence European Culture
During the times of colonization, native tribes saw huge changes in the way they lived. One thing
that drastically changed and it was certainly an important one was religion. Native tribes already had
their own religion but when colonization got to them, they were exposed to something they had
never seen or experienced. In this essay will see how religion was affected in the native tribes in
Nigeria and Macau and see the similarities and differences between these changes. Colonization was
mostly done by powerful european countries like Spain, Britain, France, Italy and, Portugal. Macau
was one of the many colonies of Portugal which lead to many changes within Macau and its people.
Religion was one of the most important aspects of the people ... Show more content on
Helpwriting.net ...
Throughout the story, there is a moment in which British colonizers arrive to this community
bringing many changes in their beliefs. One of which was the influence of Christianity in the
community. Like in any place being colonized, there was always some resistance from the people
because of these new changes. Okonkwo who is the main character was really against of
Christianity brought by the British. But a young kid who was like his son, Nwoye, was totally in
favor of this peaceful religion. When Okonkwo discovered that Nwoye was becoming a Christian,
he went to find Nwoye and when he found him Okonkwo "suddenly overcome with fury, sprang to
his feet and gripped him by the neck."(Achebe, 151). Truthfully, these changes ended up creating a
mess in the village. Most of the people are really conservative so many of them were disgusted but
also afraid of the British and their "weird" beliefs. The people from the tribe said "the white man is
very clever. He came quietly and peaceably with his religion. We were amused at his foolishness and
allowed him to stay. Now he has won our brothers, and our clan can no longer act like one. He has
put a knife on the things that held us together and we have fallen apart" (Achebe, 152). There are
some similarities between Macau and Nigeria, but there are also many differences which were all an
effect of

Steve Wynn : Changing Las Vegas
Steve Wynn: Changing Las Vegas Introduction Even if you have never been to Las Vegas you have
heard of Steve Wynn or one of his hotels, but what people do not know is the impact Steve had on
the way we know Las Vegas today. Steve Alan Weinberg was born January 27, 1942 to Michael and
Zelma Weinberg in New Haven, Connecticut. Four years after Steve was born his father changed
their name from Weinberg to Wynn to avoid anti–Semitic lifestyle for his family. Steve's father ran a
bingo parlor and moved to Las Vegas in 1952 for a short time before moving to upstate New York
where Steve would attend The Manlius School and later graduate the University of Pennsylvania.
(Wynn, 2015) Early Years Following his fathers death of a heart attack in ... Show more content on
Helpwriting.net ...
Wynn would go on to renovate the Golden Nugget and turn it into one of the finest hotels on the
strip. Wynn expanded the Golden Nugget by adding three additional hotel towers and remodeling
the façade. (Burbank, 2010) Steve Wynn: Creating A Legacy After establishing himself on in Las
Vegas Wynn expanded to Atlantic City where he would build another Golden Nugget hotel and
casino, which he later sold for a $260 million profit, among accusations that he was involved with
New York mobster Anthony Salerno. With his focus once again on the strip, Wynn received enough
loans and credit to building what would become the Mirage, a then record setting $620 million
hotel. With the completion of the Mirage it changed the face of the struggling run down strip. The
Mirage was considered the first "Megaresort" and was intended to impress the middle and upper
class tourists and inspired other hotels to build similar resorts, such as the MGM Grand, Luxor and
Excalibur. In 1993, Steve Wynn erected another megaresort right next to the Mirage and named it
Treasure Island. Treasure Island is a 32–story hotel–casino and ha a live simulated pirate ship battle
that is preformed every fifteen minutes. A year after The Mirage opened; Siegfried & Roy started
preforming nightly from 8 P.M. to midnight on the hour. Another attraction that started at the Mirage
was Cirque De Soleil, which

Literature Review On Chinese Furniture Industry
LITERATURE REVIEW
China is leading as the largest furniture exporter in the world. The fast development of China's
furniture industry is the implementation of export–led strategy which has been highly promoted.
Over the recent two decades China's furniture industry is winning the world's attention with its fast
development (Cao et al. 2004). The China's forestry industrial structure improvement attributes to
the advanced development and rationalization of the process (Yang and Nie 2011a). Chinese
government has promoted the implementation of export oriented strategy since the reform and
opening up in 1978 through encouraging foreign investment, by giving the chance to foreign
investors set up factories locally and exchanging market for capital or technology.
Research and Market 2006, as well as Virginia et al., 2003 concluded that Chinese furniture
manufacturing has made remarkable progress which is driven by the fast development of the
domestic economy, high foreign investment and a booming export business. It is therefore most
recognized that, the booming growth of China's furniture industry can be mainly associated to an
abundant work force and low costs (Cao et al. 2004, Cao and Hansen 2006, Han et al. 2009, Han
2010).
The Chinese furniture industry is affiliated to low labor cost as its primary important advantage. On
the other hand, evidence shows that there may be a labor shortage in qualified workers in massively
industrialized areas. In responding to the

Inustry Competitor Analysis-Casino Hotel
Executive Summary
The center of our industry and competitor analysis research is MGM Mirage, the second largest
casino hotel operator in the world with $7.2 billion in revenues in 2008. The only company that
surpasses MGM Mirage by revenue and scale is Harrah's Entertainment Inc. with $10.8 billion in
revenues in 2008. Other competitors that should be considered are Las Vegas Sands Corp. and Wynn
Resorts Ltd with respectively $1.7 and almost $1 billion in revenues in 2008.
Our group focused on researching the degree of threat and the likely future competitive moves that
Harrah's Entertainment, Las Vegas Sands Corp. and Wynn Resorts Ltd will undertake in short (next
3–6 months) and long term (next 1–3 years). In order ... Show more content on Helpwriting.net ...
In 2008, two private firms – Apollo Advisors and TPG Capital, acquired Harrah's. Since the
beginning of 2009, the company has had some major difficulties with revenue generation. The firm's
facilities boast more than 3 million sq. ft. of casino space and 39,000 hotel rooms and suites. The
company obtains more than 70% of its revenues from gambling. Its US properties are located in
Illinois, Indiana, Iowa, Louisiana, Mississippi, Missouri, Nevada, New Jersey, and Pennsylvania.
Harrah 's also owns and operates the World Series of Poker tournament and brand, and manages
casinos on Indian reservations. Globally, the firm owns or manages casinos in UK, Egypt, South
Africa, and Macau, China. The company's revenue for 2007 was $10.8 billion.
Las Vegas Sands Corp. founded in 1988 is another well known company that operates in casino
hotels and development niche. It is headquartered in Las Vegas, Nevada. Some of its well known
brands are The Venetian Resort Hotel Casino, The Palazzo Resort–Hotel–Casinos, the Sands Expo
and Convention Center, and Venetian Macao Limited, a developer of multiple casino hotel resort
properties in Macao, China. The company is expanding further with the opening of Sands Casino
Resort in Bethlehem, Pennsylvania in 2009. The firm's revenue for 2008 was $1.7billion.
Wynn Resorts Ltd was formed in

: Knowing Macau with Butler's Life Cycle Model
Knowing Macau with Butler's Life Cycle Model
The following literature is suggesting that how a tourist destination can be analyzed with the help of
Butler's Tourism Life Cycle Model. Butler (1980) introduced the concept of the model which
clarifies and extends earlier work by, for example, Cristaller (1963), Noronha (1976) and Stansfield
(1978). In doing so, Butler clearly links the development cycle of tourism destinations to that of
products in the product life cycle model. This is one the best used management framework to know
the evolution in a tourism destination as described by Baum (1998), the original Butler's model
included:
• Recognition of dynamism within the tourism environment — at the time of its inception, constant
change ... Show more content on Helpwriting.net ...
Being a part of Portuguese colony for so long and out of every Chinese jurisdiction Macau was
developed as an independent state with legal gambling. The main developers just follow the foot
steps which were taken during the development of Las Vegas. (www.atimes.com). As their were less
facilities for patrons, so the frequency of guest were also less, but with the time and the involvement
of local Chinese people and no restriction on gambling made the Macau more favorable.
Involvement: during the involvement stage, locals take active part in developing in their own region
and all possible activities. Moreover, communities build or adapt facilities and organize events for
tourists as they see the number of visitors increase and form a predictable tourist season (Butler,
1980). In Macau during the involvement stage there were coordination between local people,
Chinese government and other business seeking multinational companies (hotels, banking
institution, construction companies, etc). Then they got the seasons recognized and define it as an all
day night entertainment place. The gambling industry in Macau is running from late 1950's
(McCartney, 2005)
Development: In the development stage, the number of tourist increases at an accelerated rate and
may quickly equal or exceed the number of permanent local residents (Butler, 1980). This rapid
growth is triggered when large tourism groups controlling tourism retail, lodging and

Casino Industry in Macau
The Casino Industry in Macau
Research Question
I intend to evaluate the Casino Industry in Macau including the reasons for its high demand and
growing success and compare it to the Casino Industry in Las Vegas.
The gaming industry is the livelihood of Macau. It is responsible for 75% of the government's
income and provides the people of Macau with millions of jobs. Even though gambling was first
legalized under Portuguese rule to finance the government, it remains the same under Chinese rule
today. The rules and regulations set forth oversee the casino industry and grant companies with
casino concessions. It is dramatically more profitable than Las Vegas because of the devastating
effects of the American Recession.
Introduction ... Show more content on Helpwriting.net ...
This only attracted more tourists to the country and encouraged locals to gamble more. The
construction and operation of new casinos also dramatically increased employment rates.
Who Regulates the Casino Industry in Macau? After the casino monopoly ended in 2001, the
government formed rules and regulations that would administer the gaming industry. The dissolution
of the monopoly meant that companies besides STDM were now allowed to build and operate
casinos in Macau. Theses rules and regulations were to ensure that the new casinos were operating
properly and "fairly" (Loughlin and Pannell).
Soon after the monopoly ended, the Legislative Assembly passed a law (No. 16) that clearly
outlined the definition "gambling" and "casino". The law stated what would be acceptable and what
would not be acceptable in terms of gambling in Macau. It also explained the guidelines for the
concession system and the procedure for bidding. In order to enforce these rules and regulations, the
Legislative Assembly established the Casino Commissions Committee. This committee consists of
eight members and is overseen by the Secretary of Economics and Finance. At the time of its
establishment, this man was Francis Tam Pak Yuen.
The bidding process began in November of 2001. The Casinos Commissions Committee started to
give prospective investors information about building a

Effects Of Gambling On The Asian Culture
Gambling has made immense impacts on the everyday lives of a countless amount of people.
Somehow this western pastime has integrated and almost taken control of the Asian and American
Asian communities. The gambling issue within the Asian culture has affected families, and
individuals in such drastic ways. Within the last few years we have seen an immense outburst of
gambling in Macau, which is now the gambling capital of the world. Along with the recent outburst
of gambling in Macau we find the dark side of gambling. The illegal activities that follow gambling
have taken a toll on society as well as the people involved. Also we quickly see the economic impact
made by all the money flowing through Macau. Gambling has taken over the lives of many of the
people in Asia from a very young age, with this in mind, we must realize it may not be what we
would define as an addiction, rather something that is big a part of their culture and social
interaction. From the information I found from "Asian Nation," we realize the growing issue of
Asian American gambling within our nation. In California a poll pertaining to gambling was
realized in Chinatown, the results were astonishing. The poll found that out of the 1,808 respondents
gambling was ranked as their community's number one issue. (Asian–Nation) With the unexpectedly
high percentage a follow–up poll was distributed, 21% of the respondents openly considered
themselves pathological gamblers, and 16% more labeled

Immigration Application Essay
My family, which is a new immigrants, came to U.S in 29th April 2014. The category of my family's
immigration is family reunification which is related to the chain migration–immigration through
continual family sponsorship. The applicator applying my whole family to U.S is my aunt–my
father's sister. The first time applying was in 2001. After, my family was waiting about 10 years and
eventually, my family had a visa interview in order to come to U.S. But my brother and I came to
study as international students at first. Besides, I did not expect that I would change my status to a
resident within 1 year. In contrast, my elder brother was studying in San Francisco for five years
when he eventually changed his status to a resident. To know more information about my family's
immigration history, I had an interview with my elder brother, and I asked him a lot of question
about the aspects of life in home country and in U.S. ... Show more content on Helpwriting.net ...
He mentioned that the living in Macau is like a community. When he went outside, it is crowed
because a lot of people walking in the street. He felt like that people living here as a group rather
than living as individual. Moreover, it was easy to meet his friends and had dinner or lunch with
them in anytime because the city is small. When he and his friends had free time, they usually went
to have meals, play pool or other entertainments. In addition, even though it is at night, he still could
see a great of people walk in the street with their friends. Furthermore, if he was hungry, there are
different types of food such as Japanese, Thailand, Portuguese or others he could buy in the street. It
was like a mixed food from the worldwide provided to people living in Macau. Therefore, he said
that his life in Macau was very boisterous and full of

Resorts
Wynn Resorts: answer the following questions in APA Format
1. What is the importance of Mr. Steven Wynn himself, to the company? What potential problems
could arise if he left the company?
2. What are the strengths and weaknesses of Wynn's Macau (People's Republic of China) strategy?
3. What are the three main issues that Wynn Resorts must focus their efforts on in order to preserve
their two largest revenue sources: the Wynn Las Vegas and Macau?
Mr Steven Wynn pursued his fervor as an entrepreneur and has changed the style of resorts and
gaming. He is the most talented casino gamer in the world since long. He has made himself such a
name in the gaming world that can never be out placed by anyone in the world. He is the same
person ... Show more content on Helpwriting.net ...
Opened in September of 2006, it even surpasses Las Vegas. It became known as Wynn Macau,
which turned out to be Mr Steven's most important investment of Wynn Resorts. Latest Wynn
Resort investment initialized in Encore Las Vegas, in 2008.
With almost thirty years of sharp and strategic business experience, My Steven Wynn is the
backbone of Wynn resorts private limited. With such a large experience, he is known to be the
driving force of the whole organization. The aura of the CEO gives the company a competitive
advantage over the similar firms in the industry. Such dependency on one single person on such a
huge organization can prove to be a double edge sword. Mr Wynn influence on the working of the
company is so important that the company will be hard pressed to find a satisfactory replacement if
he ever left the organization. This man carries the credit , reputation and goodwill of the company.
All investors rely on his reputation as a master of such business. At times his creditworthiness is
taken up as the value for his company.
Strength and weakness analysis includes study of both External Environment and Internal
environment. The rapidly ageing population in United States of America plays a significant role in
the domestic gaming industry. "Gambling a casino is very much the leisure time sport of a growing
generation" (Hill, Jones, 2010, p.c15). The transformation of young to the old age people who are
approaching towards

Cultural Heritage And Cultural Culture
Cultural heritage is a testimony to reflect the distinctiveness of a place made by human (English
Heritage, 2009; United Nations of Educational, Scientific and Cultural Organization World Heritage
Centre [WHC], 2008). According to Macau Cultural Affairs Bureau (n.d.), Macau has a wealth of
cultural heritage which illustrates the interchange between China and the West such as knowledge,
religions, and social trends. Thus, Macau is listed as Historic Centre of Macau in the World Heritage
List since there is a significant number of cultural heritage built in western style as well as local
style in China. (Macau Cultural Affairs Bureau, n.d.). In 2014, tourist arrival amounts to 31,525,632
and total spending of visitors is MOP 61.75 billion (Documentation and Information Centre of
Statistics and Census Service, 2015). As a result, cultural tourism promotes the growth of the
economy as the well as the living environment. Therefore, the essay examines the importance of
place identity in heritage conservation and some benefits of cultural tourism. Then, it reflects some
challenges in the sustainability of heritage management. Finally, it explains how community
engagement contributes the viability of heritage conservation. Heritage conservation illustrates the
place diversity of the place which convinces the community to recognise their place identity.
According to the World Heritage Centre (2008), the preservation of heritage inspires people with
creativity as well as innovation.

The Competition Of The Gaming Industry
Characterizing Competition
The gaming industry in Macau is very competitive as it is the only jurisdiction within China where
casinos are legal. Before 2003, there was a restriction on the entry of citizens into Macau when it
was operated by Stanley Ho's S.T.D.M as a monopoly. By 2012, visitors had increased 18.6% from
the previous year and the industry now runs as an oligopoly. Within this industry are many
competitors at a total of 6 within a 29.7 square kilometer area. They are Sociedade de Jogos de
Macua, Galaxy Casino, Wynn Resorts, Ventian Macau, MGM Grand Paradise and Melco PBL Jogos
which give a total of 34 casinos in Macau (Peng, M., pg 412).
Institutional Developments
Many institutional developments have helped shape the industry. First was the requirement that now
allows Chinese citizens to visit Macau as the number of visitors and gross gaming revenues
increased. Gaming operations also had supply–side dynamics by institutional factors such as Law
no. 16/2001 and Administrative Regulation no. 26/2001. This gave the industry a chance to hold
contracts for up to 20 years and expanded the monopoly into an oligopoly. In 2002 the number of
gaming tables was around 339 and slot machines at 808. Once the industry expanded, Macau had
5,302 table in just 9 years with 16,056 slot machines (Peng, M., pg 413). This alone is a huge source
of revenue growth for the gaming industry in Macau.
Lastly, junket operators were legalized. They are middlemen who lend high–rollers money

Butler's Life Cycle Model Essay
Knowing Macau with Butler's Life Cycle Model
The following literature is suggesting that how a tourist destination can be analyzed with the help of
Butler's Tourism Life Cycle Model. Butler (1980) introduced the concept of the model which
clarifies and extends earlier work by, for example, Cristaller (1963), Noronha (1976) and Stansfield
(1978). In doing so, Butler clearly links the development cycle of tourism destinations to that of
products in the product life cycle model. This is one the best used management framework to know
the evolution in a tourism destination as described by Baum (1998), the original Butler's model
included:
• Recognition of dynamism within the tourism environment — at the time of its inception, constant
... Show more content on Helpwriting.net ...
This re–assessment is to imperative for destinations in the UK and the USA (Cooper, 1992), now
tourists are looking for new destinations and do suffering from boredom by knowing and visiting
those destinations which are standing from decades. Macau, it is a new name in world's recognized
tourist destinations. As many tourists does not have any idea about this place (www.kvbc.com) and
but rest knows this place as an Asia's Las Vegas. Macao is a tiny special administrative region
(SAR), a former Portuguese colony, not far ago returned to China (in 1999) under 'one country two
systems' model. In fact this tiny piece of land under Chinese rule has become more prosperous and
capitalist than during the time when it formally was part of the 'West'. In the years to come Macao
may attract even more foreign capitals and people, and may even outshine Las Vegas as world prime
place for gambling. Despite what is developing as competition in other Asian countries, as far as
Macao remains the only place in China where gambling is allowed, this tiny region can look to the
future with optimism. (www.ired.com). Previously, the Macau had just a handful of casinos all
owned by the same man. But now, many are under construction and with names that will be very
familiar to everyone in Las Vegas. The Chinese economy and gambling restrictions are few of
responsible attributes to develop this place as an emerging and a major gambling playground for
adults.
Minimum bets in

Portuguese Influence On American Culture
Macau is a place of fusion; it fuses aspects of European and Asian culture together and creates
something entirely unique. The origin of Macau's blend of these two different cultures is a direct
result of European colonialism in China, as it had been a Portuguese–controlled colony since 1887
until 1999 where Macau was handed back to China and placed under special administrative
regulations. With more than 400 years of Portuguese influence, comingling with Chinese traditions,
and an explosion in tourism due to a booming gambling industry has left Macau with a culture that
cannot be found anywhere else.
Of course, with this expansive culture, there is bound to be an area that fascinates me the most, a
part of the culture that I will gravitate most to and try to learn as much about it. One thing that truly
fascinates me is history. While to some it may seem as a dull and uninteresting topic, I do enjoy
reading, listening, or viewing historical facts, making me wonder what life was for the average
person or perhaps for the losing side in a war or political battle. So, naturally, I do love going to
museums and viewing the artifacts that have been collected through hundred, sometimes thousands
of years. In my trip to Macau, I will be exposed to different versions of history, and gain more
knowledge about what factors influenced Macau in the modern ... Show more content on
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So, going to museums that house artifacts and artwork from some long–fallen empire is interesting,
going to places such as the Macau Wine Museum is not only a perfect way to learn about a different
aspect of history, it is a way to meet people from around the region trying wines from both Portugal
and China. This museum offers a more relaxed view of Macanese culture and it could be away to
connect with any classmates that go there, it is also close to a popular shopping and gambling

Macau Casino Industry

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