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Tableof Contents

1.0 COMPANY …………………………………………………………………….…………….3

 

       1.1 Company description ………………………………………………..………………..3

        1.2 Mission and Goals ……………………………………………………….……………4

2.0 SWOT ……………………………………………………………………………………….xx

        2.1 SWOT Table ……………………………………………………………………..….xx

        2.2 SWOT Description …………………………………………………………………..xx

3.0 COMPETITOR ANALYSIS ………………………………………………………..………xx

        3.1 SWOT Table for competitor 1 …………………………………………..…………..xx

        3.2 SWOT Table for competitor 2 ……………………………………………………….xx

        3.3 Opinion on Gaps in Market Trends ……………………………………………….xx

4.0 CUSTOMER ANALYSIS ………………………………………………………………..xx

        4.1 Segments at Industry Level …………………………………………….……………xx

        4.2 Needs and Wants for these Segments ……………………………………………….xx

5.0 MARKETING AND PRODUCT OBJECTIVES ……………………………………..……..xx

        5.1 Current Market and Target Markets ………………………………………………xx

        5.2 New Products/ Services ……………………………………………….…………….xx

        5.3 Positioning ………………………………………………………….……………….xx

6.0 EXECUTIVE SUMMARY …………………………………………………..……………..xx

Las Vegas Sands Corporation

        Las Vegas Sands Corp is a pre-eminent operator and developer of world-class resorts founded in 1989. It features dining and entertainment, best-in-class gaming, luxury hotels, retail, leisure amenities, and Convention and Meeting facilities. The corporation is a leader in MICE-integrated Resort which is an extremely successful and unique model serving both leisure and business tourism market. Sands Corp claims ownership of integrated resorts in Asia and the U.S.  However, its main developments and operations are located in Macao, Singapore, and the U.S.. Marina bay sands are one of the company’s segments in Singapore (Fifield). In Macao, it operates Sands Cotai Central, Sands Macao, Four Seasons Macao, and Parisian Macao. The sections in the United States include Sands Bethlehem and Las Vegas Operating Properties. The company uses a business model where members get loyalty programs giving them access to some members-only privileges and rewards. These treats are available at the various resorts in Asia and the United States.

        Furthermore, the company has a track record of successfully operating and developing the most complex and the most significant leisure and business properties in the world. It is also known for having unwavering values that guide their daily operations. Las Vegas Sands is committed to listening to its workforce and guests as a way of ensuring of environmental sustainability most especially positive contributions to the well-being of societies it operates in.

The Mission/ Vision Statement

Las Vegas Sands believes that its response to the planet is vital to its commitment to the well-being and comfort of its team members and guests. The global sustainability strategy for Sands is aimed at reducing the company’s environmental impact, and it is a reflection of its vision to be a global leader in sustainable resorts operations and building development (Fifield). The company continues to move into a more sustainable future through the hard work and dedication of its team members.

Strategy

The company has developed its plan through four pillars which are green buildings, green meetings and events, environmentally responsible operations, and stakeholder engagement. The four components ensure that the company has the most excellent environmental opportunity and impact.

History

Las Vegas Sands was founded in 1989 after Sheldon Adelson, and his partners purchased the famous Sands hotel in Las Vegas. Sales from his previous ventures in show business and computer trade helped significantly in the opening of the firm. In 1990, the company had a breakthrough after the Sands Expo and Convention center was opened beside the hotel. Currently, the center remains one of the world’s biggest, boasting over two million square feet of space. After some years in business, in 1996, Adelson decided to introduce Venice’s romantic atmosphere to the luxury hotels in Vegas. They demolished the Sands hotel to create room for the Venetian Las Vegas. In 1999, the Venetian Las Vegas introduced Italian fanfares, and the move was a fantastic success for the corporation.

        In 2004, the company was incorporated, and it extended its presence in Asia. In 2009, Sands Casino Resort Bethlehem was opened, and in 2010, Adelson flagged off the $5.6billion Marina Bay Sands Resort in Singapore. In 2012, the management had discussions with the European government in Barcelona and Madrid. In September the same year, the company announced Madrid as the chosen destination for Euro Vegas, a gambling resort project. However, by the end of 2013, the initiative was canceled. Further, in 2015, the company a 2020 project of a 65,000-seat facility for Oakland Raiders team (Trefis). The conglomerate opened the Parisian Macao in 2016, marking Adelson’s dream to replicate the delight and accomplishments in his Las Vegas Strip. Since then, the firm has recorded significant growth in its various resorts in Asia and the United States.

Goals

The emergence of new challenges and growth in its portfolio, Las Vegas Sands has changed significantly over the past years (Trefis). The public sector, government, and business are joining hands for global development. In 2011, the company started a five-year environmental reporting cycle. The company also set new performance targets of 2020. Of the 17 global sustainable development goals (SDGs), the company has embraced SDG 6 on water, SDG 12 on responsible consumption, and SDG 7 on energy. Under each goal, Las Vegas Sands came up with targets that were incorporated in its strategy through internal and long-term external objectives.

        Lastly, the company aims at doubling its global rate in energy efficiency and increases its share of renewable energy in the world’s global mix. Its primary goal is to improve the efficiency of water use across all sectors. Also, the corporation also aims at reducing by half the global food wastage and also minimizes the generation of waste through reuse, recycling, and reduction. In addition, it aims at establishing an external partnership, innovative technologies, new developments, natural resource conservation, and team members’ collaborations.

SWOT Table (Strengths, Weakness, Opportunities, and Threats)

Internal Factors

Strengths

Weaknesses

Management

Integrated Resort business model

Government restrictions

Marketing

Expansion in Asia

Struggle in Macau

External Factors

Opportunities

Threats

Consumer/Social

Growth in Asia

Increase in Internet Gambling

LVS’s strength

Integrated Resort business model: Las Vegas Sands is a resort company not only operating a casino but also emphasizing the value of appealing to the convention and exhibition business. The CEO of Las Vegas Sands Adelson saying, “encouraging retail mall development and other ancillary revenue opportunities makes sure that Sands gets as much of its customers’ money as possible.” (Caplinger) LVS is the first casino that initituted MICE (Meetings, Incentives, Conventions, and Exhibitions) model. By using this model, LVS can use empty conference rooms to maintain certain revenue during the time that hotels and casino experiencing low demand.

Caplinger, Dan. “5 Things Las Vegas Sands Management Wants You to Know.” The Motley Fool, The Motley Fool, 2 Sept. 2015, www.fool.com/investing/general/2015/09/02/5-things-las-vegas-sands-management-wants-you-to-k.aspx.

Expansion in Asia：Although Las Vegas is third largest casino market in the world, Las Vegas Strip only generates about 13% revenues for Las Vegas Sands. Because of the gambling industry growth in Asia, it created a lot of opportunities for LVS to increase their income and expand their profit margins. The company has expanded their businesses in Asia, such as Macau and Singapore. Las Vegas Sands is also competing with other casinos to get the contract to build new casino in Japan recently.

As we can see from the table above, LVS’s operation in Macau and Singapore is much higher than the operations in US. This result showed us that VIP players from Macau and Singapore played an important role of creating higher profit margins for Las Vegas Sands. (Team)

Team, Trefis. “Why Las Vegas Sands Is Focused On International Expansion.” Forbes, Forbes Magazine, 26 May 2017, www.forbes.com/sites/greatspeculations/2017/05/26/why-las-vegas-sands-is-focused-on-international-expansion/#7dd36cf0354b.

LVS’s Weakness:

Government Restriction：During the year in 2014,  gambling revenue started to evaporate on the Chinese territory. The Chinese government had started cracking down on corruption. A lot of VIP players

started getting scared

of showing off their money. At the same time, Chinese government has restrictions for people who go to Macau. And the government is also monitoring UnionPay, Chinese debit card. All of these restrictions have made some troubles for casinos to earn revenues. There were moments in 2015 when gambling revenue was cut in half. (Lopez)

Lopez, Linette. “Las Vegas Sands Is Getting Slaughtered.” Business Insider, Business Insider, 21 Apr. 2016, www.businessinsider.com/las-vegas-sands-is-getting-slaughtered-2016-4.

Struggle in Macau:  “There’s a slowdown in China that is affecting the way people are spending,” CEO Sheldon Adelson acknowledged on the company’s earnings call. Because of the government restriction and regulations, a lot of the VIP players were not putting money in the games. And the sub-concession agreement between LVS and Macau will expire on June 26, 2022. LVS will face some difficulties “The Macau government, with the consent of Galaxy Entertainment, may terminate the subconcession under certain circumstances. The sub-concession agreement expires on June 26, 2022.”

Opportunities:

Growth in Asia: About 85% of LVS’s business is leveraged towards Asian gaming. Asian gaming is the biggest growth opportunity. In October 2013, LVS received an additional five-year exemption from Macao’s corporate income tax. The exemption was for profits generated by operating casino games. Macau is the largest and most successful Asian market. It’s often regarded as the “Las Vegas of the East.” The casino industry is expanding in size. Macao draws a significant number of customers. The customers are visitors or residents of Hong Kong.

Threats:

Increase in Internet Gambling: There has been an increase in Internet gambling. The government took steps to legalize it. This could pose a threat to the company. People could be drawn away from gambling in casinos because they could gamble from their home or smartphone.

Customer Analysis

Geographic segmentation

Las Vegas Sands operates five hotels in Macau, two hotels in Las Vegas, one hotel in Singapore and one hotel in Pennsylvania. Macau and Las Vegas are representative cities of casino and entertainment. Geographically, casino hotels have good accessibility to customers who visit Macau and Las Vegas to enjoy entertainments and casino. Where The Venetian Las Vegas and The Palazzo are located is in the center of hotels and casinos congested area in Las Vegas. Macao draws a significant number of customers and the customers are visitors or residents of Hong Kong. The need of customer is good accessibility with entertainments and casino. The wants are hotels are located in the center of hotels and casinos congested area.

Demographic segmentation

     It seems like all ages visit casinos evenly. But 50-64 are the biggest group of casino visitors. And the middle-income groups are the main group of casino visitors. It shows that stable income and ages make visit casinos more.

Psychographic segmentation

Customers who go to Las Vegas or Macau and stay casino hotels want to stay at luxury hotels and do gamble. Las Vegas casino hotels’ room price is not that expensive, but customers can get high-quality rooms. Since these hotels have casinos, customers can enjoy gambling at where they stay. This is the chart that shows the price per one night of luxury hotels in Las Vegas. Even though it seems expensive, customers who want to stay at luxury hotels and play gamble choose these casino hotels.

Behavioral segmentation

This chart shows the revenue percentage of Las Vegas Strip. The trend is revenue from gaming has been decreasing and revenue from non-gaming has been increasing. Customers’ behavior has been changed. Las Vegas hotels used to be known for the gambling. But recently, spending behavior goes to non-gaming elements. According to the Business Insider article by Sam Ro, it says “Today, non-gaming revenue comprises around 64% of Las Vegas’ total revenue mix as a result of the market evolving over the past ten years into a more complete tourist destination with hotel, entertainment, retail, and F&B/fine dining becoming increasingly important revenue drivers.”

 

Marketing & Product Objectives

    Las Vegas Sands market intent is to be “the pre-eminent developer and operator of world-class Integrated Resorts that feature luxury hotels; best-in-class gaming; retail; dining and entertainment; Meetings, Incentive, Convention and Exhibition (MICE) facilities; and many other business and leisure amenities,” according to sands.com. Las Vegas Sands currently has properties in Las Vegas, NV, Bethlehem, PA, China, and Singapore. These locations currently offer world class hospitality to both leisure and business tourism markets. Current properties as well as planned new markets will serve as a platform to grow sales revenue. This will be detailed in four areas below:

Current Markets

    Las Vegas Sands expects to increase revenue about 11% in current markets in 2018. Our plan is to do so by continuing to implement the “MICE” model. The model integrates a focus of meetings, incentive, convention, and exhibition with luxury gaming, dining, entertainment, and hospitality. This formula has allowed for Las Vegas Sands to be an industry leader, and we expect it to continue to do so. This model has been successful in all markets starting from Las Vegas all the way to China. We expect to retain customers by continuing to offer the same product as well continuously gain more as our reputation expands.

New Markets

  Las Vegas Sands is a growing company, our next step in expansion is to build a luxury resort in Japan. Las Vegas Sands originated in the United States, but has recently expanded into Asia. Multiple resorts have been opened in Macau, China as well as one in Marina Bay, Singapore. The newer Asian markets have all proven to be successful, actually accounting for more revenue than the American market. Las Vegas Sands plans to expand into Japan using the same model that has granted us success in China and Singapore.

New Product

    Las Vegas Sands plans to open a new resort with the same model in Japan. We plan to invest $10 billion dollars on the resort, making it the biggest investment the company has ever made on a stand-alone resort. According to Bruno (2017), as of now, the company is planning on emphasizing its focus on non-casino attractions such as exhibition halls. Japan is currently revising its laws to allow casinos to operate in the country. Las Vegas Sands will closely monitor the situation. If the Japanese law allows for casino operation, the planned Las Vegas Sands Japanese resort will have a casino.

Target Market

    The target market for Las Vegas Sands new resort in Japan will be the business and leisure tourism market. The target market is not emphasized on one demographic, Instead we are focused on developing and operating resorts that will accommodate to many different adults. Target consumers are business men and women, vacationers, single, couples, and even families.

Positioning

  Currently, Las Vegas stands as an industry leader in providing world class hospitality, gaming, dining, entertainment, and convention centers. The Sands Expo is Las Vegas is the third largest convention center in the city and the connected Venetian and Palazzo resorts operate as a hotel giant on the Las Vegas Strip. Las Vegas Sands was the first American company to invest in development of resorts in Macau, China, but is currently facing some major competition. American companies such as MGM, Wynn, and Melco have entered the Macau market. Of its 5 resorts in China, only one saw growth in revenue last year (forbes.com). The Singapore location remains strong, and gambling revenues from the Chinese market have increased 15% since last year (forbes.com). With our planned expansion into the Japanese market and diligence in current markets Las Vegas Sands plans to remain a premier developer and operating of world class resorts.