Around 5 years ago, my husband and I drove down from Los Angeles to Las Vegas. We were to arrive at 3am and I was looking forward to hitting the sack. But as we drove down the Strip to our hotel, I realized that the city was awake and rocking! We couldn’t wait to check in, throw our luggage into the room and set out for our first of 3 amazing nights of drinking, gambling, dancing, watching awesome shows and visiting lavish hotels. And I thought to myself, nothing in the world can parallel the energy of Las Vegas. I was wrong.
Macau is now giving Las Vegas more than a run for its money. It has surged past Las Vegas to become the gambling capital of the world. The number of tourists visiting Macau just keeps rising every year. An estimated 27 million visited this former Portuguese colony last year. This is because Macau is strategically located and attracts hordes of tourists from mainland China, where gambling is illegal. But gambling is not the only thing Macau has to offer. It has a rich history, a culture that is a blend of European heritage and oriental charm and a location that makes the region breathtakingly beautiful.
No wonder hotel and casino firms as well as investors are flocking to Macau to tap on its growing popularity as the ultimate tourist destination. The first casino operated by a US company was inaugurated in 2004 and Sands Macao’s first-year profits surpassed the total cost of the project! Its operating profits have jumped almost threefold from $340 million in the first year to $900 million. Early last year, a group of private equity investors paid about US$390 million for a 45% stake in Macau Legend Development Ltd. This transaction represented one of the largest private equity offerings in Macau. These are just a few examples of firms and investors cashing in on Macau’s success.
Macau is offering many opportunities and it seems too risky to miss out on betting on this gaming enclave.
* For series, references are published in the last installment of the series.
Venture Hype respects your privacy. We'll never sell or share your email, and you may unsubscribe anytime.
Venture Hype has an interesting concept and an interesting format. It’s apparently well-read. Always good to be controversial and ask probing questions.
