HONG KONG: The Venetian Macao which opened on Tuesday, will give a taste of what Singapore can expect when its very own Marina Bay Sands integrated resort opens in 2009. Both projects are developed by US-based Las Vegas Sands, which is aggressively expanding its presence in the Asia Pacific.
More than just gaming, Sands is eager to draw more convention and exhibition business to this region.
Las Vegas Sands is confident that its integrated resort at Marina Bay will open as scheduled in late 2009, even though construction costs may escalate by up to 40 percent due to sand supply and refinements to the original design.
Will Weidner, president of Las Vegas Sands Corp., said: "We'll build the building substantially the way it was presented in the model. We're looking for means and methods to construct it more effectively. Obviously, if you can pour the concrete faster, the period of time needed is shorter as well; the labour costs (will also be) lower."
Sands appears to be riding the crest of the wave with the opening of the world's largest casino in Macau.
It hails the Venetian as a showcase of what Marina Bay promises to be – plenty of shops, events and entertainment.
Already, Sands is seeing what it calls "phenomenal" interest in the retail space at Marina.
Sands has been talking to over 500 parties representing more than 1,000 brands.
Its 100,000 square metre of convention centre or roughly 11 football fields has already confirmed up to 20 major international events, rolling as far ahead as 2013.
The exhibition space offered by the Venetian Macao dwarves what Hong Kong has to offer in terms of exhibition space.
There is already plenty of competition in the region, but a similar sized venue in Singapore is proving to be double-sell for Las Vegas Sands.
Sands is bullish about the Marina Bay project, saying there are already infrastructure and efficient transport links in place, which will help the resort get off to a booming start. - CNA/so
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