Sands CEO says development will benefit Macau

Las Vegas Sands chairman and CEO Rob Goldstein said the company “firmly believes” the Macau market will recover and will benefit in the future from infrastructure developments throughout the Greater Bay Area.

Writing in the group’s 2020 annual report, Goldstein said the opening of the Hong Kong-Zhuhai-Macau Bridge was a “major milestone” that will help Macau grow tourism and MICE business in the years ahead.

“It is an engineering feat of unprecedented scale that creates a direct connection between the Hong Kong International Airport, one of the largest and most important transportation hubs in all of Asia, and Macau,” he said.

The ambitious Greater Bay Area project aims to link 11 cities across southern China, including Hong Kong and Macau. Through massive levels of investment, the mainland government is building faster roads and rail links to ease the movement of goods and people, all of which stand to benefit Macau, which gets the majority of its visitation from Guangdong province.

Goldstein said the company will continue to follow its late founder Sheldon Adelson’s vision in investing in its Macau properties. So far it has spent $15bn on building its four Macau IRs and will continue with targeted investments.

The group in February opened the first stage of its revamped The Londoner property, with further amenities scheduled to roll out during the rest of the year.

Source: Asia Gaming Brief