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Macau Casinos Bet on Winning as Adelson Expands: Retail
Sheldon Adelson is adding a fourth casino in Macau, the world’s largest gambling hub, drawing almost six times the revenue of the Las Vegas Strip. The billionaire’s rivals are cheering him on.
Sands China Ltd. (1928), the Asian arm of Adelson’s Las Vegas company, next month will open the Cotai Central resort with a 300,000-square-foot casino, almost 6,000 hotel rooms and cascading waterfalls tailored for the 16 million mainland Chinese tourists who visited Macau last year.
Competitors see the additional rooms and novelty of a fresh resort drawing more Chinese to gamble on the island, where gaming revenue is estimated by CLSA Ltd. to top $100 billion by 2020 and where hotels are near capacity. Success for Sands would expand the industry in Macau, the only place in China where casinos are legal and where Melco Crown Entertainment Ltd. (6883), Wynn Macau Ltd. (1128), Galaxy Entertainment Group Ltd. (27), MGM China Holdings Ltd. (2282), SJM Holdings (880) Ltd. and Sands China get almost all their revenue.
Source: BusinessWeek












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