Operator News
China – Sands receives final approvals for Parisian Macao
By Phil - 5 January 2015
Las Vegas Sands has announced that the company’s majority-owned subsidiary, Sands China, has received the Macao government approvals needed to complete the construction of its US$2.7bn Paris-themed integrated resort.
The completion of The Parisian Macao will bring Las Vegas Sands’ total investment in Macao to more than $10bn with the vast majority of that investment spent building, among other things, expansive retail malls, convention and exhibition space and thousands of hotel rooms. Las Vegas Sands opened Macao’s first integrated resort — The Venetian Macao — in 2007. The 10.5m sq. ft. property was the first truly integrated resort to open since The Venetian Las Vegas, which opened in 1999.
“From the moment we put our first shovel in the ground we have been committed to helping Macao secure its future as a center for leisure, business and entertainment. Our investment has provided tens of thousands of new jobs in areas such as retail, entertainment and hotel operations. We’ve enabled local companies and suppliers to grow their businesses and we’ve helped the government expand its tax base and diversify its economy. The Parisian Macao is 100 per cent consistent with that vision and we look forward to families taking pictures in front of our Eiffel Tower in the near future,” said Las Vegas Sands and Sands China’s Chairman Sheldon Adelson.
The Parisian Macao will feature more than 3,000 hotel rooms and suites, more than 490,000 square feet of retail space, diverse food and beverage offerings, new meeting and convention facilities and a 50 percent scale replica of the Eiffel Tower.
