The construction of The Parisian in Macau will resume
The Las Vegas Sands Corporation and their majority-owned subsidiary Sands China Ltd. have just announced that they received approval from the government to restart the construction of the huge complex The Parisian in Macau.
We recently talked about the work stoppage in the post The opening of MGM Macau is postponed until mid-2016.
Since they managed to get the authorisation in such a short time, they can continue the construction of the complex without further delays.
The hotel-casino should be completed in time, and the opening is scheduled for the end of 2015.
A huge complex
The hotel-casino The Parisian will be the fifth complex of the Las Vegas Sands Corporation in Macau, and the fourth on the famous Cotai Strip.
The complex is built with a budget of $2.7 billion.
The hotel will have nearly 3,000 rooms and suites, and a game room with 450 game tables and 2,500 slot machines.
As the name suggests, the future casino-hotel will have a Paris theme, and it will include a replica of the Eiffel Tower.
In association with the Four Seasons and the Cotai Central, the complex will also offer the largest luxury shopping mall in Asia.
The new strategy of the company
Macau has experienced an increase in the spending behaviour of the Chinese middle-class and VIP tourists for some time now.
The Las Vegas Sands Corporation has now adapted to this new situation and developed a new strategy called MICE (Meetings, Incentives, Conferencing, Exhibitions) which focuses on activities that are not related to gambling.
This is precisely the area where the tourists are spending more and more money.
An establishment to further strengthen the attractiveness of Macau
The Las Vegas Sands Corporation was the first foreign operator to open a business in Macau.
The CEO, Sheldon Adelson, recalls that just 10 years ago, the Cotai Strip in the former Portuguese colony resembled a desolate area.
Today, it is the most popular area for gambling in the whole world.
It is for this reason that the company had once again chosen this location for the latest project with the name The Parisian, which is scheduled to open at the end of the year 2015.
The inauguration is expected to further strengthen the attractiveness of Macau for businesses and tourists from all over the world.
