Inside Asian Gaming

INSIDE ASIAN GAMING | March 2010 to finalise US$1.75 billion in project financing related to the sites. It stated its aim of ‘monetising’ its Four Seasons apartments and hotel tower by selling title to outside investors is also likely to be achieved this year. US$3.1 billion ahead of its debut on theHong Kong Stock Exchange on 30th November. Cotai recommences—really Sands China also told the stock market on 2nd March that construction work suspended on two Cotai Strip plots since November 2008 will recommence later in March. The Shangri-La, Traders and Sheraton hotel sites comprise about 3,700 rooms and are expected to take 16 months to complete. A second Sheraton Tower hotel tower will take about 22 months to finish. Sands China added it hopes shortly Construction on Cotai’s parcels 5 & 6 will be recommencing soon Add to that mix the opening of Marina Bay Sands, LVS’s new casino resort in Singapore on 27th April and it seems that Sheldon Adelson’s big gamble has paid off. Investors may not yet be ready to reward Mr Adelson by supporting his shares in the way they have Mr Wynn’s. But there is likely before too long to be a tipping point of investor opinion on LVS. That tipping point is likely to coincide with a winding down of LVS’s debt gearing. Then the benefits of the high volume Asian casino markets will really start to be felt by LVS stockholders. Not a Dry Eye in the House The auditorium at City of Dreams takes shape C ity of Dreams, Melco Crown Entertainment’s casino resort on Cotai, has given the local media a preview of its new 2,000-seater ‘Theater of Dreams’ auditorium. It’s part theatre-in-the-round, part water park. Eleven hydraulic lifts can convert the stage from a 26 feet deep pool—said to be the world’s largest aquatic performance area—to a solid dry stage in less than a minute. That will come in handy as the opening production will be ‘The House of Dancing Water,’ a spectacular aquatic show by Franco Dragone, a former creative director with Cirque du Soleil who now runs his own ship. Italian-born Mr Dragone has also created Las Vegas spectaculars for Canadian singing star Céline Dion and for Wynn Resorts. The Macau production will feature performers diving 65ft (around 20 metres) into thepool. It’sdue to launch‘in thefirst half’ of 2010, according to CoD’s management. The US$250 million production has a 77-strong cast from more than 18 countries. It also has 32 scuba divers responsible for monitoring the performers and ensuring their safety in the water during the show. The auditorium is designed by Pei Partnership Architects of New York City, the people that brought you the Al Burj tower in Dubai. 28 Sheldon Adelson Macau Operators