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US Tycoon Opens Casino in Macau
A Las Vegas tycoon raised the stakes in Macau’s gambling industry
yesterday with a new casino that will bring competition to the tiny
enclave’s top industry for the first time in more than 40 years.
The operator of the Venetian on the Las Vegas Strip, Sheldon Adelson,
hopes that a big dose of Nevada’s glitter and glitz will attract the
mainly Chinese gamblers who drop billions of dollars every year at
casinos run by the Hong Kong billionaire Stanley Ho.
The Las Vegas Sands, which was to open its doors to gamblers
yesterday afternoon, cost US$240 million and will feature 277 gaming
tables and 405 slot machines.
"It looks so grand. I’ll definitely go there and have a look," said
Vincent Zhao, a 20-year-old hotel clerk in Macau.
Adelson made his mark in Las Vegas with the Venetian, a replica of
Venice complete with canals and singing gondoliers, and wants to create
an Asian version of the Strip later in Macau with another artificial
Adelson won one of three gaming licenses when Macau decided in 2002
to open its industry to competition after Ho held a monopoly for four
Ho will stay in the game, and the other license went to Vegas mogul
Steve Wynn, who has been holding off on his plans while waiting for
Macau to changes its laws and let casinos provide credit to players.
entire article at:
2004 Online Casino News Archive