Macau Approves 150 Tables For New Sands Casino Resort
Macau casino operator Sands China Ltd (1928.HK) said on Monday the government has granted 150 gaming tables for its $3 billion casino resort, a figure analysts said will be sufficient to support its revenues in the world’s biggest casino hub.
The allocation had been closely watched after Wynn Macau Ltd’s (1128.HK) $4 billion Wynn Palace property, which opened last month, was also awarded 150 tables. Some industry experts had questioned whether the government would allocate any tables at all to the new resort.
Sands’ Parisian resort is set to open on Sept. 13, two weeks after the Chinese gambling territory posted its first positive monthly year-over-year growth in more than two years.
Sands will open with 100 new table games and receive 25 new tables in 2017 and a further 25 in 2018, the company said in a filing to the Hong Kong stock exchange.
Owned by U.S. billionaire Sheldon Adelson’s Las Vegas Sands Corp (LVS.N), the Macau unit has several properties including the Venetian resort.
Union Gaming analyst Grant Govertsen said any number of tables above zero was a positive for Sands.
“Given the current state of market-wide demand and the fact that the Parisian gets 150 tables, the Parisian won’t miss a beat … ” he said.
Sands shares rose 1.4 percent in morning trading, in line with the benchmark Hang Seng Index .HSI up 1.3 percent.