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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 Venice.

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 decades.

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.

Read the entire article at: Taipei Times 

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