Chapter 1485: Investing in the future
After the Gangwon-do project, let’s talk about Jeju Island.
The planned investment of $500 million in entertainment complex is of course prepared for the next door visitors.
This is just the beginning.
As he gained deeper understanding of the gambling industry, Simon gradually understood that the gambling industry also had a very obvious 28 law, that is, 20% of high-end users contributed more than 80% of the industry's revenue. If you want to attract these high-end 20% of customers, you must be willing to invest huge amounts of money to build the most luxurious hotels, casinos, resorts and other supporting facilities in order to provide meticulous VIP services to high-end customers.
Why did the gambling industry in Macau betting have been making rapid progress while South Korea, which is also open to gambling, remain silent? Later, why did some Chinese real estate developers spend 10 billion yuan to try to build new casinos in South Korea? This is basically the reason.
Macau has the most luxurious large casino hotels in Asia and even the world. However, because of its weak foundation, it is inevitable that it will appear too petty and cannot attract too many high-end customers.
Simon is currently making high-end layouts in South Korea, which is easier to control. Even if he still cannot compete with Macau in the future, some thresholds cannot be broken through, but compared to the past, he can at least get a larger cake.
What's more, in Macau, Simon has no intention of letting go as long as the license bid is opened in the next few years.
Since cooperation has been confirmed, the matters to be explained must be explained clearly.
Next to the gambling table in the VIP hall.
After hearing Simon's general idea, Tian Leyuan was obviously a little unbelievable: "Mr. Westeros, you chose to invest in a casino in Gangwon-do. I believe in this vision. The only casino that can be legally open to the people of our country is just this privilege. If I have enough funds, I will invest without hesitation. But I have been paying attention to Jeju Island. You must also know that the current main tourists in Jeju Island are still domestic residents, with a proportion of more than 90%. The residents of the country are not allowed to enter the casino. The average consumption level of foreign tourists who can enter the casino is also very low, far less than that in Seoul."
Simon looked through the last card the dealer had just sent, lost several 1 million won chips and said, "Tian, I think what I mean is already very clear. I invest in the future, not the present."
Tian Leyuan opposite also took the last card and followed up to the bet, asking: "The question is, Mr. Westeros, how do you determine the future you judge? China... Maybe their reforms over the years have created a group of rich people, but their consumption capacity is still far less than that of Western customers, and the number is not large. As for the future, China's future, IMHO, there are really big variables?"
After everyone bet, Simon showed his two pairs, watched the other people shook their heads, and the dealer pushed the chips in front of him. He made the chips casually, Simon said: "It seems that I am lucky, aren't I? Moreover, if I understand China, Tian, I will definitely be much better than you, so I insist on my own judgment. At worst, just think it's a gambling. If the bet wins, we are all winners at this time. If we lose, we are actually the only one who loses, and you have nothing to worry about."
Tian Leyuan looked at Simon with a cautious expression and said, "In theory, of course I don't need to worry, but I still hope that our cooperation will succeed."
Of course, there are some old calendars, but Choi Dongmin and Hotan Paradise have no grudges. What Simon wants is to make money with kindness and will not bring two old enemies together.
Besides, what happened back then was actually very simple. The fledgling Cui Dongmin had just started his "business" and was quickly arrested for a year, which had nothing to do with Tian Leyuan. Because Tian's Casino was doing foreign business, Cui Dongmin's underground casino targeted customers were domestic gamblers and robbed local gang business, and the two had no intersection.
However, Tian Leyuan can still remember Choi Dongmin at this time, at least it means that Simon did not choose the wrong person.
Chapter completed!