Casino revenue in Macau will increase by more than 30%
Macau’s gaming revenue will rise by more than 30% in the last two quarters of 2010. The biggest casino paradise on the world has continued its growth, according to Sheldon Adelson, the Las Vegas Sands Corporation CEO. All six casino operators in Macau will profit from the growth, Adelson commented. Last year they posted a growth of more than 60%.
In May, Sands China obtained funds with a total value of €1.41 billion, provided by Goldman Sachs Group Inc. and UBS AG. The Las Vegas Sands Corp. subsidiary targets to complete its new casino hotel resort in the special administrative region in China. Construction of the new casino hotel was interrupted in 2008 due to frozen credit markets and declining revenues.
Sands China is the second largest casino operator in the special administrative region in China. The opening of the casino hotel resort is scheduled for the third quarter of next year, according to Steve Jacobs, Sands China’s CEO. The new resort consists of two casinos, retail space with a surface of 800.000 m2 and conference areas with a surface of 800.000 m2.
Macau casino hotel
The €3.23 billion casino hotel resort covers two areas opposite the Venetian Macao resort in the Cotai District in Macau. Venetian Macao is owned by Sands China that currently offers 3.600 rooms in Macau. The new project adds another 6.000 rooms.