Yesterday, casino and resort operator Las Vegas Sands Corp. announced that the government of Macau has given all the approvals that its subsidiary company Sands China Ltd. needed so as to complete its $2.7-billion project – a Paris-themed gambling venue called The Parisian.
Sheldon Adelson, the company’s chairman, released a special statement concerning the announcement. He pointed out that “[they]
have been committed to helping Macau secure its future as a center for leisure, business and entertainment” since the very beginning of the property’s construction.
Back in August, Las Vegas Sands Corp. announced that the company was waiting for an approval so as to be able to proceed with the construction of the venue.
During his official visit to the gambling hub, Chinese President Xi Jinping stated that the city’s economy should not rely solely on its casinos or in other words, it needs to diversify the entertainment options it offers to its guests.
Mr. Adelson pointed out in his statement that their projects have created numerous new jobs in different areas. What is more, they have made it possible for companies to further expand their operations. Mr. Adelson also referred to the fact that Sands China Ltd. has boosted local economy.
No information was given about the launch of the The Parisian in the above-mentioned statement. Yet, back in October, when the company announced its third quarter revenue, Mr. Adelson shared that the venue is scheduled to have a soft opening towards the end of 2015. Only hotel rooms are expected to be available. Later on, in March 2016, The Parisian will probably have its full launch.
On September 5, the Land, Public Works, and Transport Bureau in Macau stated that Sands China was given permission to start the foundation works after they were suspended in June, due to an accident. They were limited after September 5.
The Parisian Macau is planned to feature more than 3,000 hotel rooms, a large retail space, various restaurants and bars, modern convention facilities, a replica of the Eiffel Tower, as well as many other entertainment options.
When the venue is completed, the investment of Las Vegas Sands in Macau will reach $10 billion. The company opened its first integrated resort in the administrative region back in 2007. The so-called The Venetian spreads over 10.5 million square feet. It offers 3,000 hotel rooms and suites, concert and show venues, sports club, luxurious shopping space, modern meeting facilities, etc.
Apart from The Venetian in Macau, Las Vegas operates a hotel and casino venue of the same name on the Las Vegas Strip. This one opened for guests and visitors in 1999.
