Inside Asian Gaming

A big part of that effort is the Cotai Strip, anchored by the $2 billion Vem:tian Macau scheduled to open in mid- 2007, a master-planned complex of resort casino properties. In addition to I 0,000 guest rooms, its first phase will include business, leisure and entertain­ ment attractions. Las Vegas Sands Corp., which owns The Venetian, opened the US$265 mil­ lion Sands Macau, the first Las Vegas­ style casino in Asia, in May of last year. In the pipeline and slated to open in 2007 are Wynn Resorts' US$! bil­ lion Wynn Macau property, and MGM Mirage's US$975 million MGM Grand Macau, being developed in partnership with Pansy Ho, daughter of Stanley Ho, whose company held a monopoly on ca­ sinos in Macau for 40 years before the liberalization of the industry in 2002. In statements to the press, Macau Social Affairs and Culture Secretary Chui Sai On plugged Macau's boom­ ing gaming sector. "Millions of dol­ lars have been invested to build hotels, entertainment and convention facilities in Macau. These projects are right on track, with some branded hotels open­ ing next year, while other themed hotels and resort complexes are expected to be completed in 2007 and 2008. With over 400 years of history, Macau is a unique city with a cultural blend ofthe east and west," Dr. Chui said. Macau Government Tourism Office Director Joiio Costa Antunes filled the press in on Macau's recent develop­ ment. "The tourism industry is an im­ portant economic driver in Macau," he explained. "With only 465,000 people, we hosted over 16 million visitors last year. Following the liberalization of the gaming industry, three gaming opera­ tors who were granted casino conces­ sions have committed millions of US dollars to build large-scale tourism, en­ tertairunent and convention facilities in Macau. These projects are right on track and are expected to be completed in the coming one or two years." Inside Asian Gaming September 2005 25