Sands China's $2.9bn "Parisian Macau" Opens Its Doors

Sheldon Adelson celebrates the opening of yet another collosal resort by drinking something weirdly through a straw

Despite the hefty slump in Macau's gambling industry over the past couple of years, there is still plenty of cash being invested in China's only legal gambling province as proven today by Las Vegas billionaire (and online poker opponent) Sheldon Adelson, who saw the opening of his fifth Macau property yesterday with the opening of his "Parisian Macau" casino and resort.

Aside from the casino, which boasts 150 tables, the resort comes complete with a half scale replica of the Eiffel Tower as its centerpiece. It also boasts an indoor shopping arcade, a roof-top water park, plenty of restaurants, cafes, and brasseries, a 1,200 seater theatre, and some 3,000 rooms.

The two year slump in the gambling industry in Macua, which has seen revenues fall from $45bn per annum to under $30bn has been due to a government crackdown on corruption, and their desire to see Macau's industry diversify beyond just the high rolling junket parties. Adelson's new resort reflects this with a lot more focus on tourist entertainment on the itinerary than simply the casino tables.

However, there was good news for investors last month as Macau tabled its first year-on-year increase in revenues for 26 months. It's also worth noting that even at $30bn in annual revenues, Macau still brings in almost three times that of Las Vegas, as well as posting better profits to revenue figures.

 

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