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  1. #1

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    "Macau:Las Vegas of the East" & The opening of HKDL is add'n to the region's momentum

    MACAU - Once a backwater for hardcore gamblers, the former Portuguese colony of Macau is rising fast as Asia's entertainment and casino capital.
    Some now call Macau the "Las Vegas of the East," and Macau's gaming revenues are on par with those of the Las Vegas Strip.

    Macau, however, is growing even faster than Las Vegas. It's on the threshold of a gaming boom, with more than a dozen casinos and resorts on the drawing boards or under construction, the result of a 2001 decision to open its doors to foreign casino operators. Two years later, mainland authorities agreed to let visitors cross the border more freely.

    Macau's first U.S.-operated casino, the Sands Macau, opened in 2004. This autumn, a second U.S. casino and 600-room hotel, Wynn Resorts Macau, will debut. The $1 billion MGM Grand Macau will follow in 2007. The U.S. operators are bringing panache and entertainment, and they hope to turn Macau into a hot convention destination.

    Macau drew 18.7 million tourists last year, more than Germany, and plans to lure 35 million a year by the end of the decade, about what Las Vegas gets now.
    .................................................. ................................................

    Adding to the optimism: Plans are moving ahead for a 17.5-mile bridge between Hong Kong and Macau by 2010, ending reliance on ferries. The opening of Hong Kong Disneyland last fall is adding to the region's momentum.
    Source : Click here

    Details : The Mercury News
    Last edited by HongKongDisneyland; 02-14-2006 at 06:00 AM.

  2. #2

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    Re: "Macau:Las Vegas of the East" & The opening of HKDL is adding to the region's moment.

    If they built a full scale park, then this thing would have been an even bigger smash.

  3. #3

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    Re: "Macau:Las Vegas of the East" & The opening of HKDL is add'n to the region's momentum

    In regards to Macau... I will quote Madonna on this....

    "Baby you can KEEP!, Baby you can KEEP!, Baby you can KEEP!!!"

  4. #4

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    Re: "Macau:Las Vegas of the East" & The opening of HKDL is adding to the region's moment.


    Las Vegas bets big on Macau


    The gambling industry on the Chinese island could triple in five years, propelled by companies like Las Vegas Sands and Wynn Resorts. Investors can get in on the action, too.

    With so much concern about Chinese imports flooding Wal-Mart Stores, it’s refreshing to know we are shipping at least one big export back to China: the Las Vegas Strip.

    For months, a U.S. casino company has been busy creating a replica of Las Vegas on Macau and a patchwork of other islands just south of China between Hong Kong and Hanoi. The venture -- along with other separate casino projects in the area -- makes up one of the biggest construction projects in history.

    -----------------------------------------------------

    If it pans out as hoped, gaming and tourism revenue in the region could double or triple over the next five years, lining the pockets of developers. If it fails, investors who have recently bid up shares of two companies behind the gambit could lose big.

    Which way will it go?

    As with any casino bet, it could go either way. But the odds favor the house, even if plenty of obstacles stand in the way. “Nobody knows how strong the market will be,” says Fath, whose T. Rowe Price fund group is one of the biggest holders of Wynn Resorts, just behind Chairman and Chief Executive Steve Wynn himself.

    ------------------------------------------------

    How big could Macau get? Klatzkin thinks annual gaming and tourist revenue could more than double to $12.9 billion by 2008. Morgan Stanley analyst Celeste Mellet Brown believes gaming revenue alone will hit $11.6 billion by 2010. She’s less certain about the timing of nongaming revenue -- like income from hotels, shopping malls and condos going up in the area.




    Details : Click here

    Source: MSN Money

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