Macau expects another casino expansion

Operators predict they can attract even more gaming dollars from China as the last decade has seen huge growth in Macau and as they have transformed into a casino and hotel studded destination for the richest tourists in Asia.

Local casino powerhouse Sociedade de Jogos de Macau began work last month on a USD 3.9 billion casino and hotel complex they are calling Lisboa Palace. The lavish ground breaking ceremony for the project featured company executives in gold helmets with gold spades.

When complete the complex will offer 700 gaming tables and three hotels, one of which is a Palazzo Versace, and another to be designed by Chanel and Fendi designer Karl Lagerfeld. The complex will also have a wedding pavilion, a theater, and will connect with a nearby theme park.

The Las Vegas Sands company, which already has a Venetian hotel and casino along with other operations in Macau, has a new location called the Parisian which will open next year. The Parisian will feature a smaller replica of the Eiffel Tower with an observation deck and restaurant. Another American developer, Wynn Resorts, has plans for a casino hotel project with 1700 rooms expected to open in 2016.

Company founder Stephen A. Wynn wants the resort to be “the photo op and the conversation piece of Asia.” Ian M. Coughlan, president of Wynn Macau, spoke about growing other prospects alongside gambling. “Gambling won’t go out of fashion. It will just become part of a wider offering. We’ve not really tapped all the demand that exists- we’re far from it. It’s an iceberg situation.”