Cotai Strip eager to draw Thai tourists
Casino operator Las Vegas Sands Corp believes Thailand will become an important market for the Cotai Strip, the gambling and entertainment complex it is building in Macau.
Chairman and chief executive officer Sheldon Adelson said the group was spending US$1.2 billion (Bt42.4 billion) to develop an area of reclaimed land bet-ween the islands of Taipa and Coloane. The project will feature a wide array of shopping, dining and entertainment options, as well as 20,000 rooms provided by international hotel chains. Traders Hotel, Shangri-La Hotel and the first phase of the Sheraton Macau Hotel are on target to open in 2008. The St Regis Hotel and the second phase of the Sheraton Macau are scheduled to open in 2009. Starwood Hotels and Resorts will manage the 4,000-room Sheraton Macau and more than 400 rooms of serviced apartments under the St Regis brand. Las Vegas Sands operates the Venetian Resort Hotel Casino and the Sands Expo and Convention Centre in Las Vegas, as well as the Sands Macau casino. It is also working with the Zhuhai Municipal People's Government to plan the deve- lopment of a resort and convention complex on Hengqin Island, and it will develop a new casino complex in Marina Bay in Singapore. William Weidner, president and chief operating officer, said the Cotai Strip aimed to reposition Macau as a destination for shoppers, diners, entertainment, conventions and business, not just a casino city. For Adelson it is the fulfilment of a dream. "It is very exciting time for Las Vegas Sands and for me personally, as the vision I had over six years ago is clearly taking shape. With these great iconic hotel companies committed to this project and construction well under way it is impossible not to see the enormous potential of the Cotai Strip," he said. Adelson said Thailand would be one of the major markets for the project, along with Hong Kong, Japan, Korea and Singapore. Weidner said the progress in the entertainment and retail aspects had been significant. "We project that 50 to 60 per cent of the Cotai Strip's customers will come from Asian countries," he said. The group is searching for investment opportunities in India, Taiwan, Korea and Japan. Weidner said it had talked with the Thai government some years ago about building a huge casino complex in the Kingdom. "Thailand has a chance to have the casino. It would complement the tourism industry. It really depends on the new government, " said Weidner.
Suchat Sritama The Nation Macau
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