Las Vegas Sands Corporation could soon consider the possibility of building additional themed casino resorts in Macau including developments based around the iconic sights and sounds of London or San Francisco.
Speaking at yesterday’s opening of the Parisian Macao Casino Resort, Sheldon Adelson, the 83-year-old Chairman and Chief Executive Officer for Las Vegas Sands Corporation, declared that any new Macau themed resort casino would likely be smaller than the new $2.7 billion Cotai Strip development.
“We have some ideas for additional work here in Macau but not any major integrated resorts like the Parisian [Macao Casino Resort] that we are opening today,” Adelson told GGRAsia.
Adelson stated that Las Vegas Sands Corporation and its local Sands China Limited subsidiary had so far spent “$13 billion to $14 billion” in Macau, which includes the 3,000-room Parisian Macao Casino Resort with its half-size replica of the Eiffel Tower.
“[Las Vegas Sands Corporation may do] something [themed around] London or something from the [United] States like San Francisco that has a lot of iconic features,” said Adelson. “But, I would only do that in a competitive [multi-resort] environment because what I need in a non-competitive environment is iconic buildings like our Marina Bay Sands Casino in Singapore.
Adelson added that Las Vegas Sands Corporation was “aggressively and continuously” attempting to open further venues throughout Asia and had been investigating possibilities in Japan, South Korea, Thailand and Vietnam.
The casino mogul furthermore explained that he was not at all worried about his company’s older themed Venetian Macao Casino Resort going out of fashion as the numbers of Chinese tourists travelling abroad increases.
“We wouldn’t build a thematic property if we didn’t feel this would truly attract people in proportionately higher numbers than the non-thematic properties,” said Adelson. “If there were five properties [in a single market] that were thematic it would have a disproportionately high [and] strong effect of attraction for the customers. The more thematic properties you have collectively the better.”
Returning to the Paris-themed Parisian Macao Casino Resort, Wilfred Wong Ying Wai, President for Sands China Limited, proclaimed that the property is set to be a “dynamic force that will draw more people to Macau” while adding that the Venetian Macao Casino Resort, which opened nine years ago, remains “the most sought after property for any visit to Macau” according to his checks of social media.
Regarding the recent news that Macau gross gaming revenues in August had registered a 1.1% increase year-on-year following a 27-month contraction, Adelson declared that he was “optimistic that we have hit the bottom”.
“Based upon the pre-bookings we have, based upon the convention bookings we have; I think we have essentially hit the bottom,” said Adelson. “We’ve gone down [as a Macau market] gradually and I think we will go up gradually. So, Macau still has very good days to come. I can’t predict what the percentage of growth will be but I’m optimistic about the future.”
Rob Goldstein, President and Chief Operating Officer for Las Vegas Sands Corporation, proclaimed that Macau remained “the number-one market in the world by a multiple of five or six” despite the recent downturn.