Casino Choice UK News Archive
Chinese Billionaire opens new casino in Macau
Macau recently overtook Las Vegas as the biggest gambling destination in the world, and its meteoric rise over the last decade has not escaped the attention of Sin City’s casino operators.
Las Vegas Sands and Wynn Resorts, two of the world’s biggest casino operators, have already started business ventures in Macau, with Las Vegas Sands set to build the world’s biggest hotel-casino – the 3000 suite Venetian Macau.
But the 85-year-old Stanley Ho, who had a monopoly on gambling in Macau for over four decades, is not about to lie down and watch his empire be taken over. Ho still controls well over 63 percent of the Macau gaming market, and the 430-room hotel with a five-floor casino that he opened on Sunday will go a long way to re-establishing his control over the resort.
The hotel is aimed at wealthy Chinese gamblers, many of whom were present for its opening. These gamblers are the primary reason that Macau overtook Vegas as the world’s number one gaming destination, so Ho’s move is a shrewd one.
Las Vegas Sands and Wynn Resorts, two of the world’s biggest casino operators, have already started business ventures in Macau, with Las Vegas Sands set to build the world’s biggest hotel-casino – the 3000 suite Venetian Macau.
But the 85-year-old Stanley Ho, who had a monopoly on gambling in Macau for over four decades, is not about to lie down and watch his empire be taken over. Ho still controls well over 63 percent of the Macau gaming market, and the 430-room hotel with a five-floor casino that he opened on Sunday will go a long way to re-establishing his control over the resort.
The hotel is aimed at wealthy Chinese gamblers, many of whom were present for its opening. These gamblers are the primary reason that Macau overtook Vegas as the world’s number one gaming destination, so Ho’s move is a shrewd one.
Submitted: 2007/02/13 at 11:23:10
