Las Vegas Sands eyes investment in Macau

The US-based casino operator is set to make a further investment in the thriving Macanese market, the company’s president and COO said.

Macau.- The gaming market continues to grow in Macau and companies from all over the globe seek to take advantage of the business opportunities. That’s why Las Vegas Sands Corp is set to make a further investment in the Chinese region – particularly in the VIP segment – president and chief operating officer (COO) Robert Goldstein said.

“The rolling (VIP) business (in the region) has recovered. We are very interested in getting a bigger slice of the market. We’ve done well, but not well enough from our expectations,” said Mr Goldstein, who is a non-executive director at subsidiary Sands China Ltd.

In 2017, Las Vegas Sands announced a US$1.1 billion investment in Macau to be seen over the next few years to 2020. US$700 million will go to the rebranding of the Cotai property as “The Londoner Macao”, but there are other venues that will receive further funding.

“We are redoing our VIP rooms in the Plaza and the Venetian, to be even more competitive,” Mr Goldstein said. “Our success has been tied to mass, premium-mass and slots, more than VIP. But we are very dedicated to improving our share of the high-end rolling direct market, as well,” he also stated.

According to Mr Goldstein, the growth in the Macanese market “has a residual effect on the premium-mass market” and he explained: “The more money there is in the market, is good for the premium-mass as well.”

In addition, he said that no other market in Asia “competes or compares to the strength of Macau”, and asserted: “I believe Macau, today, is probably too far ahead for any other place to replicate.”