Sunday, June 19, 2011

Las Vegas Sands plans expansion across Asia

Casino giant Las Vegas Sands is planning to expand across Asia as figures suggested another Asian country will overtake Las Vegas in terms of gambling.

The gaming giant, which has already constructed massive resorts in Singapore and Macau, is looking to expand to other Asian nations and even to Europe, according to reports from the Global Gaming Expo Asia this week.

Taiwan, Vietnam, Japan and Korea are among the company’s Asia targets, with boss Sheldon Adelson describing the region as its “first preference.”

Other targets include Spain, where Las Vegas Sands is eyeing a €15 billion EuroVegas strip development with 123,000 rooms, either in Madrid or Barcelona.

Although Macau overtook Las Vegas in terms of gambling revenue back in 2006, America’s ‘Sin City’ was dealt another blow this week by the news that Singapore is expected to out-earn it this year, despite boasting just two integrated resorts.

Macau, a favored destination for Chinese tourists from the mainland, shows no sign of slowing, opening the new 2,200-room Galaxy Macau resort in May.

It is already home to The Venetian Macau, a 980,000 square meter development (owned by Las Vegas Sands) which is the largest casino in the world.

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