Obviously, the gaming industry needs two Eiffel Towers.
Sheldon Adelson, president of Las Vegas Sands Corp., said Thursday that he will build a miniature model of the Eiffel Tower in Macau as part of a new $3 billion hotel casino.
Adelson announced plans for The Parisian during the Sheraton Hotel opening, part of the company’s $4.4 billion Sands Cotai Central Phase 2 business.
The Caesars Entertainment Company on the strip owns Las Vegas in Paris, which includes the 46-story Eiffel Tower, which is about half the size of the original 1,050-foot tall painting.
Paris Las Vegas is attached to Las Vegas in Bali. It opened in 1999 and was built by Hilton Hotel and developed by the late Arthur Goldberg.
Adelson said Parisians will have 3,000 hotel rooms and a “50 percent for size” replica of the French monument. 온라인경마
He told media in Macau that his company’s version of the Eiffel Tower would be more realistic than the strip version because the bridge stands free instead of passing through other buildings.
“I think copying is the highest form of flattery,” said Jan Jones, senior vice president of communications and government relations at Caesars Entertainment.
Las Vegas Sands President Michael Leven told a news conference in Macau that the company would provide $1.5 billion in bank loans and $900 million to $1 billion in cash to Parisians.
HOTEL-CASINO will include family-oriented facilities to attract middle-class Chinese gamblers, the company said.
David G. Schwartz, director of gaming research at the University of Nevada, Las Vegas, said there would be no major confusion between Streep and Macau because the Sands version of Paris would attempt to attract mainland Chinese middle-class customers.
“Since the Chinese market of the middle class will not visit the area, it may be the only Eiffel Tower they see,” Schwartz said.
Macau is the world’s largest gaming area, with more than $33.5 billion in gaming revenue in 2011. China’s economy has slowed, but Adelson has dismissed concerns that Macau’s boom is over.
“We wouldn’t have expanded if we didn’t think there was a future here,” Adelson said at the briefing.
Hong Kong-based CLSA Ltd expects Macau’s gambling sales to jump to $100 billion by 2020.
“The growth of the bulk market segment, especially Kotai, remains exceptionally strong,” said a research report from Citigroup’s Hong Kong office. “We continue to favor Kotai operators centered on the public.”
SJM Holdings and MGM Resorts International are awaiting approval from the Macau government to build a hotel-casino project on the Kotai Strip. Earlier this year, Wynn Resorts Inc. received approval to build a $4 billion hotel-casino complex on the Kotai Strip.
New rail lines linking Macau to the Guangzhou region and easing visa requirements will help boost revenues at resorts targeting middle-class gamblers, especially instead of high rollers, where demand growth has slowed, Citigroup analysts said.
Las Vegas Sands will have nearly 9,000 hotel rooms in the area when the development of Kotai Central is completed. Sheraton has nearly 4,000 hotel rooms and can join the much smaller holiday-in and Conrad properties. The 400-room St. Regis Hotel is under construction. The hotels are connected by casinos, retail stores, restaurants, conventions, and conference spaces.
In addition to Sands Cotai Central, it operates Sands Macao, Venice Macao, and Four Seasons Macao.
Macau is the only place in China where casino gambling is legal.
Las Vegas Sands is exploring opportunities to expand its games in Europe, Japan, South Korea, and Vietnam. Adelson said he will also invest in Taiwan if the government legalizes casino gambling.
Earlier this month, Las Vegas Sands officials said they had chosen Madrid as their preferred location for the $22 billion integrated gaming and resort development.
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