Casinos.co.uk: Casino News Archive
Tuesday 8th April 2008
Las Vegas Sands Look To Asian Expansion
The Chief Executive Officer and Chairman for Las Vegas Sands Corporation, Sheldon Adelson, stated that the firm is ready to take its Macau model of casino resorts to other parts of Asia.
According to a recent piece in the Cotai Casino News, Adelson made the revelation while speaking at a luncheon for the JP Morgan Chase investment conference at the Sands-owned Venetian. He stated that his company had conducted economic impact studies on emerging markets in Asia that were considering legalizing casinos.
The world’s twelfth richest man discussed his desire to build more multi-billion dollar developments similar to Sands’ Cotai Strip around the world but with the caveat that there had to be no taxes. He stated that this would be Sands’ incentive for risking an investment of up to $20 billion while creating hundreds of thousands of jobs and bringing millions of new tourists into a country.
He said his company was willing to spend billions on an integrated resort that would include a casino, hotel, retail areas, convention space, restaurants and other amenities similar to the company’s planned four billion dollar Marina Bay Sands in Singapore. However, a string of integrated resorts such as Macau’s Cotai Strip would cost more with Sands spending twelve billion dollars in the area to build 14 casinos with 20,000 hotel rooms and three million square feet of retail alongside three million square feet of convention space and dozens of restaurants.
Source:OnlineCasinoNews
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