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"Macau:Las Vegas of the East" & The opening of HKDL is adding to the region's moment.

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  • "Macau:Las Vegas of the East" & The opening of HKDL is adding to the region's moment.

    MACAU - Once a backwater for hardcore gamblers, the former Portuguese colony of Macau is rising fast as Asia's entertainment and casino capital.
    Some now call Macau the "Las Vegas of the East," and Macau's gaming revenues are on par with those of the Las Vegas Strip.

    Macau, however, is growing even faster than Las Vegas. It's on the threshold of a gaming boom, with more than a dozen casinos and resorts on the drawing boards or under construction, the result of a 2001 decision to open its doors to foreign casino operators. Two years later, mainland authorities agreed to let visitors cross the border more freely.

    Macau's first U.S.-operated casino, the Sands Macau, opened in 2004. This autumn, a second U.S. casino and 600-room hotel, Wynn Resorts Macau, will debut. The $1 billion MGM Grand Macau will follow in 2007. The U.S. operators are bringing panache and entertainment, and they hope to turn Macau into a hot convention destination.

    Macau drew 18.7 million tourists last year, more than Germany, and plans to lure 35 million a year by the end of the decade, about what Las Vegas gets now.
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    Adding to the optimism: Plans are moving ahead for a 17.5-mile bridge between Hong Kong and Macau by 2010, ending reliance on ferries. The opening of Hong Kong Disneyland last fall is adding to the region's momentum.
    Source : Click here

    Details : The Mercury News
    Last edited by PennysBayChronicle; 02-14-2006, 05:00 AM.

  • #2
    Re: "Macau:Las Vegas of the East" & The opening of HKDL is adding to the region's moment.

    If they built a full scale park, then this thing would have been an even bigger smash.

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    • #3
      Re: "Macau:Las Vegas of the East" & The opening of HKDL is add'n to the region's momentum

      In regards to Macau... I will quote Madonna on this....

      "Baby you can KEEP!, Baby you can KEEP!, Baby you can KEEP!!!"

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      • #4
        Re: "Macau:Las Vegas of the East" & The opening of HKDL is adding to the region's moment.


        Las Vegas bets big on Macau


        The gambling industry on the Chinese island could triple in five years, propelled by companies like Las Vegas Sands and Wynn Resorts. Investors can get in on the action, too.



        For months, a U.S. casino company has been busy creating a replica of Las Vegas on Macau and a patchwork of other islands just south of China between Hong Kong and Hanoi. The venture -- along with other separate casino projects in the area -- makes up one of the biggest construction projects in history.

        -----------------------------------------------------

        If it pans out as hoped, gaming and tourism revenue in the region could double or triple over the next five years, lining the pockets of developers. If it fails, investors who have recently bid up shares of two companies behind the gambit could lose big.

        Which way will it go?



        ------------------------------------------------






        Details : Click here

        Source: MSN Money

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