Adelson files for further Macau development
Posted by Carl Barnett on 17 Dec 2009 at 11:12
Sheldon Adelson has released news of his plans for the Macau casino and entertainment development he has created.
The billionaire property investor has filed with the Hong Kong Stock Exchange, and the filing has brought about a disclosure of just what he plans for the area.
He has bought two additional lots in the resort area and has made an $87.5 million down payment.
His ambitious plans involve building a 13 million square foot resort and casino and the two lots combined come to a total cost to Adelson of $380 million.
Currently Adelson's organisation, Las Vegas Sands, owns three operating casino complexes in Macau, the Venetian Macau, the Sands Macau and the Plaza Sands Macau.
The organisation also owns the huge Cotai Arena, which is one of the largest convention arenas in Asia.
In his stock exchange filing, Adelson said: "Our ultimate plans for Cotai include five inter-connected integrated resorts, which leverage a wide range of branded hotel and resort offerings to attract different segments of the market."
