Billionaire Razon: Vegas No Longer About Gambling

Your next video will start in

Recommended Videos

  • Info

  • Comments


Jan. 24 (Bloomberg) -- Enrique Razon, chairman of Bloomberry Resorts Corp., discusses the company's gaming operations and his ports business with Francine Lacqua and Matthew G. Miller at the World Economic Forum in Davos, Switzerland. Razon is also chairman and president of International Container Terminal Services. (Source: Bloomberg)

One has a flagship camila -- casino in manila.

Thank you for joining us.

You said you want to focus more, that the growth will come from the ports.

But this year, it was the casino that led the drive.

I think casinos will have stronger growth in 2014 and 2015. as we get on to the growth, we have to talk about the big players in the casinos.

You are saying in asia, it is four times the amount.

The whales or vop's -- vip's are bigger in asia than in the u.s. $1.5 million hong kong per hand.

When people talk about asian gambling, they talk about macau and singapore.

How does the philippines fit into the mix?

. we are trying to fit in.

Most of our revenue comes from chinese highrollers, either from singapore, taiwan and china.

That is what drives the market and that is what we cater the business to.

We have to grow our infrastructure.

We have a competitive facility.

Other than -- other things did to follow.

How long will that be?

Another 5-10 years.

In vegas, they like slots.

They like blackjack.

Do people play differently?

My opinion is vegas is no longer about gambling.

About -- it is about shows.

Gaming revenue is flat.

In asia, it is about the gaming.

Will change?

I'm not sure.

We have a casino already and to come up with shows -- is a big investment, $100 million to $200 million.

Who are the main people visiting your casino?

We have the mass club which is local.

Ethnic chinese from all over asia, whether china, taiwan, this is the bulk of our business.

Let's get to your ports business.

How has it been an happy new -- and how can you see it growing?

The last real growth year was 2010. our growth is coming mainly from new terminals.

New acquisitions.

Global growth will probably be to present this year -- two percent this year.

I consider trade to have been in a bubble.

The world is still recovering from that.

We were talking about the credit situation around the world.

What is your view of the world, post crisis?

The reality is, business has been run by monetary policy since 2009. the quiddity -- liquidity has reinstated the bubble, so to speak.

You can go broke saying when the party is going to end.

My feeling is absolutely, it will and.

-- end.

You can also go broke if you call it wrong.

I feel will blow up but i can't say when.

Were do see the bubble?

Stocks, asset valuations.

With a bubble be burst when the fed starts tightening?

I don't know if the fed can control every step of the situation.

They will make a big effort to do it.

I was dumb luck -- wish them luck.

Where would you like to invest $100 million?

I would say the philippines, which has been having a good run.

Also nigeria.

Given the complexity?


They produced to million -- 2 million bill earls -- barrels of oil.

The government is more serious than in the past.

It is a very powerful consumer economy.

I was disappointed.

I was expecting you to say blackjack one evening.

I don't gamble.

Smart man.

Thank you so much.

Coming up, we have plenty of exclusive interviews from davos.

Thanks francine.

Are emerging-market

This text has been automatically generated. It may not be 100% accurate.


BTV Channel Finder


ZIP is required for U.S. locations

Bloomberg Television in   change