Las Vegas Sands Spends Billions on Macau Project

As reported by the Financial Times: "The size of the investment, double the figure reported originally, is part of the US-based gaming company's plans to change the face of the former Portuguese enclave's tourism industry, from offering one-day gambling trips to becoming a longer-stay destination.

"Company president and chief operating officer Bill Weidner said: 'These development opportunities are contingent upon approvals by government at several levels and will occur in phases over time as the markets develop and mature.'

"In Macau, the company plans to spend $US3 billion each in two phases on the Cotai Strip…. The company is also in talks to develop Heng Qin island, a Chinese island bordering the Cotai Strip."

2006-07-24