Macau’s newest casino opened on Wednesday, it’s their fourth property from Las Vegas Sands Corp. (NYSE:LVS). The Sands Cotai Central is actually the 35th casino on Macau and it will be the last one built until 2015 thanks to government regulations
This new luxury resort is located in the Cotai region, just down the road from the rival Venetian Macao. According to Kelvin Chan from the Miami Herald, the resort will open in stages with the first stage will feature game tables and VIP rooms.
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The revenue earned by casinos is growing. During the first three months of 2012, gambling revenues increased by 27 percent and last year it increased by 42% to a total of $35.5 billion. Macau is the only territory of China that legalized gambling.
Isabella Steger from the Wall Street Journal reports that Sands Cotai Central has prompted Goldman Sachs to rate “buy” on the stock to expose it to the mass market. She also reported that Sands will add hotel rooms in the near future:
Sands has signed franchise agreements with Hilton Worldwide and InterContinental Hotels Group PLC for hotels at Sands Cotai Central. It also said it would open some 2,000 rooms under the Sheraton Towers brand of Starwood Hotels & Resorts Worldwide Inc. by early 2013. The project will eventually add some 6,000 hotel rooms to the territory, which is suffering from a chronic hotel room shortage.
This sounds like an exciting opportunity to bring more tourists to Macau. This sub-tropical paradise includes three regions Macau Peninsula, Taipa, and Colane. Much of this area is an administrative district but it’s the Cotai region(sandwiched between Taipa and Colane) that attracts visitors to their glitzy resorts and casinos. Sands is taking a smart opportunity to build a casino resort where all the action is, this lucrative opportunity should prove very successful with the right planning.