Investor Presentaiton
South Korea Development
Demographics
South Korea, one of the world's
top 10 economies, is an untapped
leisure destination for North Asia
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25 mill people within 2 hour drive
(significant locals/non-gaming biz)
700 mill people within 2.5 hour
flight; demographics similar to
Macau, with less competition
3 of the 4 largest MSAs in the
world <2 hours away
Seoul is the most popular
destination for Chinese, ~3x more
visitation than Singapore
IIAC: 45.5 mill pax and growing (9th
busiest in the world); ranked
world's best airport 10 years
IIAC: 2nd highest grossing duty free
shops in the world
Anticipated Revenue Mix
Korea is the closest gaming hub for North Asia
ANMAR
MONGOLIA
Chengdu
*Harbin
Shenyang
Beijing
NORTH KOREA
Incheon Seoul
KOREA
Busan
SOU
Xi'an
Jeju Island
• Shanghai
Hangzhou
CHINA,000 km
Shenzhen-
Guangzhou
Macao
Hong Kong
Hangi
LAOS
THAILAND
Siem Reap
MBODIA
Phnom Penh a
* Họ Chi Minh City
Phú Quốc
MALAYSIA
• Kuala Lumpur
•Singapore
1,000 km
Fuzhou
Taipei
Vladivostok
Sapporo
• Tokyo
Osaka
1,000 km
Largest gaming markets in Asia (2013)(1)
($in billions)
$45.1
Macau
$2.4
$2.0
$1.7
$0.1
$6.1
TUTTIT
Comparison of flight times to Asian gaming hubs
Seoul
Macau Singapore Manila
Osaka
1h 40m
3h 45m
6h 35m
3h 50m
1,000 km
Luzen
Manila
Shanghai
1h 55m
2h 30m
5h 10m
3h 25m
Beijing
2h 10m
3h 25m
6h 10m
4h 35m
Existing casinos
Tokyo
2h 15m
4h 15m
7h Om
4h 15m
Pending license
No casinos
Taipei
2h 30m
1h 45m
4h 45m
2h 00m
10
1,000
kilometers
Hong Kong
3h 45m
NM
3h 55m
2h 10m
Korea is the closest gaming market to 4 of the largest metropolitan cities in North Asia
[1]
Wall Street research.
(2)
Hong Kong used as a proxy for travel time to Macau.
Confidential
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More balanced mix of gaming and non-gaming than currently seen in other Asian resorts
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Gaming primarily from premium mass segment, helped by airport proximity, only ~20% anticipated from VIP
VIP potential significant: ~1.5mm millionaires w/in 3-hour flight, 2x+ the amount of NYC/Boston combined
Mohegan Sun
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