The Straits Times, 23 May 04

Vegas in Asia
New American casino adds glitz to the gambling scene in Macau
MACAU -- REUTERS

THE world's largest chandelier, boasting 5,970 light bulbs, has helped turn the spotlight back on this island again. It hangs in the lavish new US$240 million (S$411 million) Sands Macao casino opened here last week by American tycoon Sheldon Adelson. The casino brings an end to local tycoon Stanley Ho's 40-year gambling grip on the island.

But even he is not complaining. 'As long as the competition is friendly, I believe the pie will grow bigger and bigger, and it's fine to share it with others,' said Mr Ho, 82, who attended the opening of the Sands on Tuesday with his fourth wife. He said he is polishing up his flagship Lisboa and plans to build a 40-storey luxury hotel-casino - along with an amusement park in town.

At a press conference on Tuesday, Mr Adelson, whose company also owns the Venetian Hotel in Las Vegas, said his vision for the future was to transform Macau into 'Asia's Las Vegas'. He has pledged to invest at least US$1.1 billion over 20 years in the gaming sector here. He said he wanted to tap the enormous Chinese market, where people gamble away billions of dollars each year at Mr Ho's dingy and smoky casinos.

Mr William Weidner, president of the Las Vegas Sands, said 'Macau is on the verge of becoming the world's top revenue-producing gaming market'. Its casinos are expected to bring in US$4.2 billion to US$4.6 billion in gaming revenues this year, compared with US$5 billion for the Las Vegas Strip alone. Macau already gets more than two-thirds of its tax revenue from gambling, which last year accounted for 43 per cent of the US$8 billion economy, government figures show. Macau is not the only island Las Vegas Sands has big plans for.

A company spokesman said on Thursday it is 'very interested' in developing a casino in Singapore and it has been in talks with the authorities for the last two months. It is willing to put US$2 billion (S$3.4 billion) on the table for a super-casino, the same amount it is pumping into a second venture in Macau to build a strip of resorts in Cotai. -- Reuters, AP, Bloomberg

Catering to high flyers and the hoi polloi

THERE are 277 table games and 405 slot machines at the Sands Macao, with the gradual addition of 114 more slots specially designed for the Asian market. The Sands also has 11 Paiza Club private VIP high-limit gaming tables. Paiza membership is by invitation only and will allow VIP guests access to private jets and 24-hour concierge services. When gamblers get hungry, they can tuck into Thai, Indian and Japanese food, as well as six different regional Chinese cuisines at the Las Vegas Buffet.