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 Gaming giant Las Vegas Sands is looking to replicate their success in Macau and Singapore by expanding into other countries. The company announced last week that it is in talks with five or six countries to expand its integrated resort model.
"We are going to develop in Europe, we are still going to develop in Asia; Asia is our first preference," said Las Vegas gaming magnate Sheldon Adelson.
Just a few of the destinations Las Vegas Sands is considering expanding into include Japan, Korea, Taiwan, Vietnam, Madrid, and Barcelona. The final decisions will likely depend on the political atmosphere of the countries. Adelson said, "Some countries are a little further along than other countries."
Adelson went on to say that he was not surprised at all by the success of his properties in Singapore and Macau and said that he expects to see continued success in the regions. He said, "In the case of Macau and Singapore, they are going to continue to grow. Singapore is not ramped up at all. Macau is ramped up, but the entire universe of its market continues to grow."
Adelson confirmed plans to build a EuroVegas strip in Spain saying that the new resort would be twice the size of Macau's Cotai strip and would consist of 12 3,000-room properties.
Asked whether he thought expanding Sands' integrated resorts into the rest of Asia would ultimately hurt Macau and Singapore, Adelson stated simply, "This is a very different industry. The integrated resorts model that we take pride in having developed is a supply driven industry. The more integrated resorts that are put up, the greater the universe that is developed."
While it's entirely possible that tourism could drop in Macau and Singapore following the addition of new resorts it isn't likely to hurt Las Vegas Sands since they will primarily be competing with themselves and will turn a profit either way.
As always, stay tuned to Casinofan for more news and updates
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