What happens in Macau stays in Macau. Iím assuming theyíll start taking on that catch phrase since the Chinese city is quickly become the new Las Vegasóand with investments rolling in from billionaires like Sheldon Adelson, itís bound to get bigger and better as the years go on. Adelson, chairman and CEO of Las Vegas Sands Corp. and chairman of Sands China Ltd., is said to be putting up nearly $2.5 billion to build his fifth casino resort in Macau, according to Bloomberg News. The Parisian will feature a replica of the Eiffel Tower (sounds familiar) to make its presence known on the Cotai Strip and include more family-oriented amenities so high rollers and the middle class of China will all feel welcome.
Construction of The Parisian is said to start in late November and contain 3,000 guest rooms. By 2020, gambling revenue in Macau is projected to be around $100 billion, so perhaps itís not a bad idea to get in on the action now. Adelson has also announced that he would like to continue building casinos in Asia, potentially in Korea, Japan, Vietnam and Taiwan.