Casino gets rich by being cheap
In a change of roles, it is the low-rollers who are making this Macau casino tick.
Mr Jay Chun said his Kam Pek casino, housed in an office building across the street from the ritzy Wynn Macau, caters to the gamblers whom other Macau casinos do not want, The Wall Street Journal reported.
Here, gamblers pay for their drinks and the minimum bet is as low as HK$20 (S$3.25).
Kam Pek achieves some of the highest profit margins in the city by using technology to keep costs low, Mr Chun said.
Macau's gamblers like table games such as baccarat, which requires many dealers. This is a problem because labour is costly in Macau. Kam Pek's technological solution is live-video gaming that allows eight, rather than 100, dealers to handle 900 gamblers.
Top customers also get to redeem loyalty points for popular dried-seafood products.
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