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."
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