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The Venetian Macao casino resort will open in August

Las Vegas Sands Corp. (NYSE:LVS) has scheduled the opening of its Macao casino for August 28th.

The Venetian Macao casino resort will open in AugustMacao, the only place in China where gambling is legal, is banking on the casino resorts to transfer the casual gambling in the province to a holiday tourist destination for families and gamblers.

According to a statement by the Las Vegas Sands Corp, the Venetian Macao will feature over 3,000 hotel rooms, casinos, shopping center, arena and much more. The casino is part of 20,000 hotel rooms project on the Cotai Strip with a reported budget of $11 billion. Las Vegas Sands Corp will build and own all of the properties on the Strip, but operations will be handed to other companies, such as Hilton and Sheraton.

With the gambling revenue of Macao surpassing that of Las Vegas, Sands Corp made a good decision of being the first foreign company to build a casino on the peninsula in 2004. The casino was the Sands Macao and ended the monopoly of Stanley Ho of China's gambling market. Las Vegas Sands Corp is also investing over $2 billion in hotels and condominiums in the neighboring mainland city of Zhuhai.

Published on 06/14/2007

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