Thursday, 12 April 2012

Let More Gambling Begin

Sheldon Adelson (fourth from left) with wife Miriam
Billionaire Sheldon Adelson has just added another casino complex to his burgeoning portfolio -- Sands Cotai Central in Macau that officially opened yesterday.

Located opposite his other property, The Venetian, this latest one has three hotels: Holiday Inn and Conrad have opened, and Sheraton later this year. That means there will be an additional 5,800 rooms in Macau, as well as 300,000 square feet of gambling areas and 1.2 million square feet of shopping, entertainment, dining and convention facilities.

Adelson's Sands China also owns Sands Macao and The Plaza in the former Portuguese enclave.

For Sands Cotai Central, over 6,000 staff were hired, over 4,000 of whom are from Macau.

According to Macau Daily Times, the city's population hit a record 558,100 in June last year, which includes 85,273 non-resident workers.

It's mind boggling to see such a small city have so many gigantic hotel and casino complexes and enough staff for them all.

In any event Adelson isn't just putting his eggs in Macau -- he already has Marina Bay Sands in Singapore, and is looking to build two "integrated resorts" in Japan, Korea, Vietnam and Taiwan.

And while the rest of us are unsure about Spain's financial prospects, Adelson plans to pump $35 billion into a mini-Las Vegas strip in Spain, either Barcelona or Madrid.

"We are looking at 12 integrated resorts, 3,000 rooms each -- a mini Las Vegas, about half the size of the Las Vegas strip, in Spain for the European market," Adelson said yesterday.

Which is no wonder for him donating some $20 million to a group supporting then Republican candidate Newt Gingrich is a drop in the bucket.

But now that Rick Santorum and Gingrich have admitted defeat, paving the way for Mitt Romney to battle it out with incumbent US President Barack Obama, will Adelson put his bets on Romney as well?

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