Las Vegas Tycoon Sheldon Adelson, operator of the Venetian on the Las Vegas strip has opened a new land based casino in Macau in the hope that it will attract the gambling loving Chinese that spend billions yearly in Chinese casinos. This move will boost Macau gambling industry which has only had the casinos of Stanly Ho and a few outriders. The glitz and glamor of a Vegas like casino will be a shot in the arm to gambling in Macau.
The Las Vegas Sands that opened in Macua last week was built at a cost of $240 million and will feature 277 gaming tables and 405 slot machines. This casino is going to get a lot of play by visitors to Macau.
Adelson made his mark in Las Vegas with the Venetian, a live replica of Venice with real canals and gondoliers of good voice. Adelson's new casino is another artificial Venice Mr Adelson was one of three casino operators to win a Macau license in 2002 after 40 years of no competition for the Ho held monopoly. Ho won one license and Steve Wynn won the third one. Wynn is waiting for the law to be changed so that casinos can extend credit to players. Ho said he is confident that Macau has a bright future and will continue to grow. As long as the competition stays healthy then it will be a good thing for Macau. Each of us will continue to get their piece of the pie. That is business and there is nothing wrong with that.
Macau is 40 miles west of Hong Kong and the attraction to Hong Kong gamblers is obvious as they come to Macau in huge numbers every week. As China's middle class grows and prospers the Macau casino industry is destined to grow right a long with it. This growth will be terrific as China's disposable income grows and more of it is available for gambling. This jewel of an island will become the orients version of Las Vegas over time. Those that take the plunge now will be rewarded for years to come.