in 2007 -- Includes Seven Resort Hotels Comprising
of 10,000 Guest Rooms
The $1.8 billion Venetian Macao will Serve as the Anchor
|MACAO, Special Administrative Region of the People's Republic of China,
March 17, 2005 - Accompanied at a press conference today by executives
from world-renowned hotel brands and leading investment companies, Las
Vegas Sands Corp. (NYSE: LVS) provided a new look into its development
of a Las Vegas-style strip in Macao.
"COTAI Strip(TM) Macao is destined to become Asia's Las Vegas(TM).
By assembling a critical mass of world-class hotel brands this development
will reposition Macao as an international tourist and convention and exhibition
destination," said Mr. Sheldon G. Adelson, chairman and chief executive
officer of Las Vegas Sands Corp. "Thanks to the efforts of the assembled
group of world-renowned hotel brands and regional and local investors,
and especially the Macao government, the vision of the COTAI Strip is clearly
Model of the proposed COTAI Strip
Mr. Adelson, the visionary behind the COTAI Strip, said the project will likely be the single largest mixed-use tourism development ever constructed simultaneously. While unveiling a massive model of the proposed COTAI Strip, Mr. Adelson said the first phase of the strip is scheduled to open in 2007 -- a phase which will feature seven resort hotels comprising more than 10,000 guest rooms set amidst lush tropical landscapes.
Joining Las Vegas Sands executives in Macao were representatives from hotel companies Dorsett Hotel Group, Four Seasons Hotels and Resorts, Hilton Hotels (Hilton, Conrad, Scandic), InterContinental Hotels Group (InterContinental, Holiday Inn), Marriott International (Marriott, Renaissance), Regal Hotels and Starwood Hotel and Resorts Worldwide (Sheraton, W).
"Never have so many recognizable brands assembled in one place at one time to create a new international tourism destination almost over night," said William P. Weidner, LVS president and chief executive officer. "It took 75 years for Las Vegas to emerge as an international destination. Our intention is to replicate that feat in less than three years, and Las Vegas Sands is working closely with all of the hotel companies and investors to conclude their arrangements and realize this vision."
The COTAI Strip is a master planned development of resort casino properties on COTAI, an area of reclaimed land between the islands of Taipa and Coloane in Macao. In addition to the 10,000 guest rooms, the first phase of the COTAI Strip will offer a critical mass of business, leisure and entertainment attractions, including world class meetings and convention facilities, over 20,000 seats of live entertainment in eight separate theater venues and the most modern and exciting casinos in Asia.
Mr. Weidner said the $1.8 billion Venetian Macao, which is currently under construction and is scheduled to open in early 2007, will occupy 10.5 million square feet of space and will serve as the anchor of the COTAI Strip. At completion, the luxury resort will feature 3,000 suites, one million square feet of meeting and exhibition space, a 2,000 seat showroom, 850,000 square feet of retail mall space, and a 15,000 seat arena.
Las Vegas Sands Corp. is a hotel, gaming, resort and exhibition/convention company headquartered in Las Vegas, Nevada. The company owns The Venetian Resort Hotel Casino and the Sands Expo and Convention Center, where it hosts exhibitions and conventions, in Las Vegas and the Sands Macao in the People's Republic of China Special Administrative Region of Macao. The company is also developing additional casino hotel resort properties in Macao, including The Venetian Macao Casino Resort.
The "COTAI Strip" and "Asia's Las Vegas" marks are trademarks of Las Vegas Sands Corp.
Statements in this press release which are not historical facts are "forward looking" statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995.
Las Vegas Sands Corp.
|Also See:||First American Operated Gaming Facility, The Sands Macao, Opens in The People's Republic of China's Special Administrative Region of Macao / May 2004|
|Las Vegas Sands, Inc.Unveils Plans and Strategies for The Venetian's Mega Tourism Development in Cotai, Macao, Including 1,500 room All-Suite Venetian Macau / July 2003|