World's largest casino opens in Macau at total investment of US$2.4 billion
[ 2007-08-29
]
Macau, China, 28 Aug - The Venetian Macao, the world’s largest casino, opened Tuesday in Macau at an initial investment of US$2.4 billion.
Around 20,000 people visited the 850 gaming tables and 3,400 slot machines on the first day of operations of the Venetian Macao, Macau’s 26th casino.
Built in the landfill area of Cotai, between the islands of Taipa and Coloane, the Venetian Macao covers an area of 976,000 square meters, which makes it the largest building in Asia and the second largest in the world.
The new tourist complex has 3,000 rooms, some 350 stores, restaurants, convention and exhibition areas and a multi-use pavilion and an 1,800 seat auditorium.
The entire project of the Venetian Macao, owned by US company Las Vegas Sands, includes 14 hotels and the same number of casinos and leisure areas and is expected to be concluded in 2010 at a total investment of US$12 billion.
The chairman of Las Vegas Sands, Sheldon Adelson, said Tuesday he was also interested in investing in the Indian entertainment sector, but “for that its is necessary for the country’s legislation to change.”
As well as Macau, Las Vegas Sands is also building a resort-casino in Singapore, but Adelson did not deny the possibility of competition, “as the projects being built in the region may not be enough to satisfy the demand of the market that is emerging."
Macau is the only place in China where casinos are authorized and gambling is legal.
Around 70 percent of the Macau government’s revenues come from direct taxes imposed on groups that own casino concessions. (macauhub)
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