Home Macau New Sands Casino to bring a bit of Paris to Macau

New Sands Casino to bring a bit of Paris to Macau

Macau’s casino sector may be showing signs of slowing down, but that isn’t affecting Sheldon Adelson’s Sands Corporation from continuing its investment in the territory. During the launch of the latest expansion of his Sands Cotai Central casino resort, Adelson also unveiled his company’s plans for its fifth casino in the region.

Vive la gambling

Sands Parisian Macau Eiffel TowerDubbed the Parisian, the new $2.5 billion casino resort is set to bring a little Gallic charm to the Cotai Strip. Once constructed, the new complex will offer 3,000 hotel rooms, with attractions including a 160m tall replica of the Eiffel Tower.

The resort will be built on the stretch of land currently known as Parcel Three. Earlier this year, Sands successfully negotiated an extension on the development deadline for the plot of land with Macau’s authorities. That said, it seems that now the final hurdles have been cleared things will progress quickly – construction work is set to commence in less than 60 days.

In all, Sands China intends to invest some $2.5 billion in the project. $900 million will be paid from its own coffers, with the rest coming from bank loans.

Issues at home

But while it seems to be business as usual in Macau for Sands China, its parent company is facing issues back in Las Vegas. During a recent interview with Politico, Adelson hit back at a federal and state investigation into his company’s financial dealings in Macau. He claimed the investigation, and the associated allegations of bribery, amounted to little more than a smear campaign against him.

Adelson is widely claimed to be America’s Republican Party’s single largest donor.

At the same time, one of the Las Vegas Sands Corps’ major shareholders, LandandBuildings, has recommended that the company be split into three. Under its proposal, one company would deal with shopping mall real estate, the other hotels, and the third gambling. According to LandandBuildings’ CEO Jonathan Litt, it could boost share price from its current $45 a share, to $85.