Macau, China, 24 Aug – Macau on Wednesday officially became the country with the largest casino in the world in terms of the number of tables when Las Vegas Sands, owned by magnate Sheldon Adelson, opened the doors of its newly expanded casino in Macau.
The company added 273 low bet tables (minimum of US$ 12.5 versus US$ 25 or US$ 50 on previous tables of the casino) and 365 slot machines to Sands Macau, increasing the total to 740 tables and 1,254 slot machines.
The expansion of the casino took 10 months to build and cost US$ 99 million, financed by a US$ 2.5 billion credit facility Las Vegas Sands received in May. This credit facility will be used to finance various projects related to the multi-staged development of Cotai (landfill area between the islands of Coloane and Taipa), where the company is expected to inaugurate the Venetian hotel/casino in June of next year.
The casino extension is on three floors, has a total of 6,000 square meters, and offers typical casino games such as baccarat, black jack and roulette. The slot machines are located near fast food restaurants McDonald’s and Kentucky Fried Chicken.
The average daily revenue per table in the casino went from US$ 5,259 to US$ 7,760 in the second quarter. The same figure for the Macau gaming sector overall went from US$ 22,308 in 2003 to US$ 8,693 in the second quarter of 2006.
In comparison, the average revenue per day in Las Vegas casinos were US$ 2,239 in June.
Macau is going to have more gambling tables when the Steve Wynn hotel/casino opens on September 6 with over 210 tables. (macauhub)