It must be that time of the year again. Today Sheldon Adelson unveiled some new plans for his next casino resort in Macau, and we are not talking about a couple of slot machines and a bar here. Just as you would expect from the Sands man, this project is big, ambitious, and – if he pulls it off, which he probably will – very exciting.
The Sands Cotai Central has only been open for five months, but it looks like Adelson just cannot wait to get started on his next casino. We have already seen the Venetian bring Venice to Macau, and now the Parisian is going to do the same with the infamous city of love. It was as he opened the new Sheraton Hotel at the Cotai Central that he made the announcement, describing some of the features that we can expect to see once the Parisian is completed.
It will cost around $3 billion to build, and the complex will include a scaled down replica of the Eiffel Tower as one of its main features, as well as three thousand hotel rooms to accommodate even more players than ever before. We can no doubt expect further examples to come as time goes on, and you can be sure that this new casino will be impressive – it has to be, to bear the stamp of approval from one of the world’s most important casino moguls. While the brand may have seen court issues lately with the unlawful dismissal lawsuit brought by former employee Steven Jacobs, along with allegations of corruption and prostitution at Macau casinos, this will most likely boost the share price back up again, something that Adelson will be very keen to see.
We often talk about how he publicly decries the use of online casinos, but with projects like this in the mix it really seems as though he does not have to bother with venturing into the online world. One thing he must be careful of however is that so many casinos in the same area do not start to cannibalize each others’ profits too badly, as that could be something disastrous for an industry that in recent quarters has not looked quite as stable as it had previously. Adelson is confident, however – he says, “we would not be expanding if we did not think there was a future here”.