Yesterday while in Macau we crossed to the island of Taipa to look at Crown casino – the latest James Packer casino investment. It’s a stunning building. Like many casinos in Macau, you have the massive modern building next to what I’d call shoebox apartments – see the left of the photo. While the casino is richer for our visit it was not that busy – a short while later at the Mandarin Oriental casino we were playing in a much busier room.
While there are currently more casinos on the Cotai Strip, there is significant development on Taipa. What is interesting to me from a business and even newsagency perspective is the preparedness for risk by James Packer and his team.
Newsagents often have all of their eggs in one basket. This makes their business reliant on one source of income and one group of suppliers. By taking a gamble with a new revenue stream – beyond even a second newsagency, newsagents could find themselves with choices not available today. Sure, it is a challenge to start another business. But with the right planning and even a good partner you can make the step to a second business easier.