Flashing lights. Glowing skyline. Casinos on every corner. Chips clinking on the poker table. Ice cubes clinking in a glass of deep amber-colored whiskey that tastes so good. Ka-ching! Big or not-so-big win at a slot machine. More flashing lights. More casinos. A picture of a city that never sleeps.
The Gambling Capital of the World. Sin City. These are probably the most popular nicknames ascribed to Las Vegas over the years. The city has become the epitome of excess, excessive gambling included. And most importantly, it was (and still is) the home of some of the world’s iconic casinos.
The most populous city in Nevada, Las Vegas maintained its reputation of the world’s largest gambling hub for years. However, it was dethroned by Macau, the administrative region known to be the only place in China where casino gambling is legal. The Asian city now hosts casinos operated by some of the companies that also built Las Vegas’ modern-day skyline.
Although Macau stole the show and became the biggest and most profitable gambling mecca in the world, Las Vegas seems to be gearing up to get its throne back. And the US city will do this by trying to attract its Asian rival’s customers to the emblematic Las Vegas Strip.
Mainland China is currently cracking down on the illegal movement of money out of the country. And it is not a surprise that Macau with its more than 35 casinos is targeted by the clampdown. As a result, Chinese gambling customers, a precious gambling demographic known for its excessive spending habits, have withdrawn from the administrative region and have either been keeping a low profile or traveling to other jurisdictions to appease their sweet tooth for gambling.
And being a veteran, Las Vegas has certainly learnt how to cater to players of different kinds. To bring back its former glory, the city is now determined to lure customers from China by providing them with the chance to play in a familiar environment. Two Asian-themed luxury casino resorts – one launched in December 2016 and the other to-be-launched in 2019 – will now have the task to entertain that particular gambling demographic.
Lucky Dragon Hotel and Casino hosted its opening ceremony on December 3, 2016. Smaller in size than other Las Vegas-based hotel and casino resorts, it offers boutique accommodation, gambling, and entertainment options. The property has been designed to replicate key Asian themes and elements so as to provide authentic Asian experience. A 27,500-square-foot casino with various gambling options, including traditional Asian table games like sic bo and pai gow and hundreds of slot machines, is set to cater to players.
Malaysia’s Genting Group has also set foot in Las Vegas with a lavish integrated resort project. Resorts World Las Vegas will, too, sport Asian elements and featureс to appeal to customers from that region. With estimated investment of up to $7 billion, the resort will certainly be of a much larger scale than the Lucky Dragon property. Genting has considerable experience in the development and operation of this type of venues and it will be interesting to see how Las Vegas would react to its new resort.
The launch of the above-mentioned two properties is important for two main reasons. In the first place, as already mentioned, it will aim at drawing high-spending Chinese customers. Over the past several years, the US has turned into a popular destination among Chinese tourists. According to figures provided by the nation’s Department of Commerce, almost 2.6 million people from China traveled to the States in 2015. It is believed that the number will double by 2020.
The first direct flight from Beijing landed in Las Vegas in early December, an event that could be seen as the beginning of a new era for the gambling hub. With the scheduled direct passenger service, Las Vegas now expects a surge in the number of Chinese tourists.
The other important thing to take into account is the fact that both the Lucky Dragon resort and Resorts World Las Vegas are located not just on the Las Vegas Strip but in its northern part. Hit by the Great Recession, the city saw a serious contraction in construction activity. What is more, the northern part of the Strip has never seen much development. The establishment of two hotel and casino properties of such a scale may bode well for the city’s recovery.
The next several years will probably see more and bigger changes in the global land-based gambling scene. As it seems, Las Vegas is gearing up to challenge Macau in a battle for the “world’s largest gambling hub” title. And the Chinese administrative region will certainly not give up that title without a fight.
