Casino Choice UK News Archive
$2.5 billion casino development planned for China
The city of Macau is projected to become the world’s biggest gambling centre in the world in terms of revenue by the end of the year, and Las Vegas Sands Corp hopes to build a Venetian hotel, casino resort and more on the Cotai Strip.
Macua is something of a holy grail for casinos - being the only place in the most populated country in the world where they are legal. Las Vegas Sands Corp was the first western group to build there though MGM Mirage and partners have a casino scheduled for opening in 2007.
Last year, according to the Chinese government, Macau generated $5.1 billion in gaming revenue. Compare that to the $5.33 billion that the American Gaming Association claims Las Vegas generated, and it is clear that predictions Macau will be bigger than Vegas by next year are not to be scoffed at.
The city – which was a Portuguese colony until 1999 - has seen a 13 per cent increase in visitors just the first three quarters of this year according to government statistics. They also suggest that revenue from gamblers who spend over $1 million per trip will increase by 10 per cent every year for the next three years, while revenue from visitors who spend less than $100,000 per trip will rise by a whopping 40 per cent.
The Macau Venetian will have 3000 rooms and is scheduled to open in 2007.
Macua is something of a holy grail for casinos - being the only place in the most populated country in the world where they are legal. Las Vegas Sands Corp was the first western group to build there though MGM Mirage and partners have a casino scheduled for opening in 2007.
Last year, according to the Chinese government, Macau generated $5.1 billion in gaming revenue. Compare that to the $5.33 billion that the American Gaming Association claims Las Vegas generated, and it is clear that predictions Macau will be bigger than Vegas by next year are not to be scoffed at.
The city – which was a Portuguese colony until 1999 - has seen a 13 per cent increase in visitors just the first three quarters of this year according to government statistics. They also suggest that revenue from gamblers who spend over $1 million per trip will increase by 10 per cent every year for the next three years, while revenue from visitors who spend less than $100,000 per trip will rise by a whopping 40 per cent.
The Macau Venetian will have 3000 rooms and is scheduled to open in 2007.
Submitted: 2005/11/29 at 15:45:51
