|May 18, 2004 - The Sands Macao, a one million-square-foot
casino and entertainment complex, made history today by opening the first
American operated gaming facility in The People's Republic of China's Special
Administrative Region of Macao.
The Sands Macao is located in the one-time Portuguese colony of Macao on China's southeastern coast. The luxurious new casino is set amid six acres of lush waterfront gardens and flanked by gold reflective windows.
"The opening of the Sands Macao represents the beginning of an exciting
new era for the people of Macao and a tremendous opportunity for Macao
to position itself as the entertainment destination of choice for the world's
fastest growing economy and most populous country: the People's Republic
of China," said Sheldon G. Adelson, chairman and CEO of Las Vegas Sands,
Inc., parent company of the Sands Macao and The Venetian in Las Vegas.
"The Macao government and Las Vegas Sands, Inc.'s vision for Macao is bold
and ambitious, and today, working arm-in-arm, we have realized part of
that vision by opening a world-class entertainment complex at the doorstep
of the People's Republic of China."
"Macao is on the verge of becoming the world's top revenue-producing gaming market," said William Weidner, president and COO of Las Vegas Sands. "Travel to Macao has increased explosively in recent years and every indication is these numbers will continue to rise. With more than three billion people within a five hour flight, Macao is poised to become the gaming and leisure destination of choice for a significant part of the world's population."
Weidner said the strength of the Chinese economy clearly bodes well for the future of Macao as a gaming and leisure destination. Weidner noted China's Gross Domestic Product has risen from $422 billion in 1993 to over $1.4 trillion in 2003. In addition, Weidner cited statistics showing Macao's casino revenue rose from less than $2 billion in 2000 to $3.6 billion in 2003 and could approach $5 billion in 2004 -- leaving it only slightly behind Las Vegas in terms of casino revenue.
The Sands Macao, the first stage of Las Vegas Sands' development plans in Macao, has several upscale touches designed to attract Asia's premium gaming guests. Like the legendary Chinese Emperor Kublai Khan's venerable Paiza -- his personal pass to the riches of his empire -- elite guests of the Sands Macao will discover the glitter and glamour of the Las Vegas Strip matched with the incredible wealth and worldly sensibilities of the Orient.
The invitation-only Paiza memberships will allow VIP guests access to private jets, limousine, helicopter, and jetfoil services, a 24-hour concierge; private entrances, exclusive entertainment lounges, VIP high-limit gaming areas, exclusive VIP gaming parlors for premium players, cigar bars, wine tasting areas, and private dining.
Later this summer, the Sands will open 51 luxurious suites, a full service spa and salon, several additional restaurants, bars and entertainment areas, and a 24-hour tea terrace -- serving more than 200 quality teas. The 51 premium suites at the Sands Macao range in size from 1,000 square feet to 8,000 square feet. The suites include in-room massage areas, in-room saunas, karaoke rooms, state of the art entertainment centers with multiple plasma screen televisions and digital surround sound, private plunge pools, butler service, access to hundreds of premium teas, remote-controlled drapes, lighting, and audio-visual equipment, custom hand-woven carpets, custom- designed furnishings and lighting, and whirlpool Jacuzzis with panoramic views of Macao's Outer Harbour.
ABOUT LAS VEGAS SANDS, INC.
Las Vegas Sands, Inc. is a hotel and gaming company headquartered in Las Vegas, Nevada. Company holdings include The Venetian Resort Hotel Casino, located on the Las Vegas Strip, and Venetian Macao Limited, a developer of multiple casino hotel resort properties in The People's Republic of China's Special Administrative Region of Macao.
The Venetian Resort Hotel Casino, a recipient of the Exxon/Mobile Four Star Award and AAA's Four Diamond Award, is one of the world's most luxurious resort and convention destinations. Re-creating Venice's legendary landmarks, the 4,049-suite resort offers unmatched service and quality for leisure and corporate guests. The Venetian features The Grand Canal Shoppes, an indoor streetscape complete with gondolas and singing gondoliers, the Canyon Ranch SpaClub, world-class gaming, 18 award-winning restaurants, the Guggenheim- Hermitage Museum, and a wide variety of entertainment venues on its premises, as well as extensive convention and corporate services.
Since opening the $275 million, 12-story Venezia tower in June of 2003, The Venetian has topped all other Las Vegas properties in terms of operating cash flow. In the first three months of 2004, The Venetian produced the single-highest operating cash flow quarter recorded in the 75-year history of Las Vegas.
Venetian Macao Limited operates the Sands Macao, located near Macao's existing casino and entertainment district and across from the Macao Hong Kong Ferry Terminal. The one million square foot Sands Macao features a gaming area that includes 319 table games and more than 600 state-of-the-art electronic gaming devices. The complex also includes 51 luxurious suites, full service spa and salon, and a 24-hour teahouse.
The Venetian Macao will be the anchor of the much larger Cotai Strip mega- tourism development, an unparalleled Masterplan that will become the "Las Vegas Strip" of Asia. The Venetian Macao, scheduled to open in 2006, will combine the glamour of Las Vegas with mystical Asian flair. The Venetian Macao will include 1,500 luxury suites -- with an additional 1,500 suites planned in Phase II of the development, a million square foot convention center, 15 fine dining restaurants, a 15,000-seat arena, a 2,000-seat showroom, and a 600,000 square-foot shopping mall with several additional restaurants.
Las Vegas Sands
|Also See:||Macau Hopes to Transform Seedy Casino Business into Something Resembling Las Vegas; Stanley Ho, Macau's Casino Kingpin, Losing Monopoly / December 2001|
|Nevada Gaming Regulators Montoring Steve Wynn's and Sheldon Adelson's Proposed Casinos in Macau / June 2002|