Lord - the VIP business is low margin, but the so called whales are also doing other things in the casino - not just gambling and sleeping the night. These guys care about the hotel environment and the other whales and high rollers they will mix with more than they care about haggling over the comps. They gamble huge amounts, while their wives/family/entourages (including many employees) go shopping, dining, on limousine rides, and gambling in the more humble areas of the casino etc etc etc. Also a big part of the attraction is if they are transferring money to Australia. They and their staff use the casino as a base for meetings etc etc. So there is a big flow of money throughout the casino. It can't be isolated to VIP turnover.
CWN Price at posting:
$11.15 Sentiment: Sell Disclosure: Held
