Macau gets a little Sin City
TEXT OF STORY
MARK AUSTIN THOMAS: A little bit of Las Vegas in China. Today Steve Wynn opens that country’s first resort-style casino. Could this be competition for Vegas? Rachel Dornhelm takes a look.
RACHEL DORNHELM: Though at least half the size, the Wynn Macau looks identical to the mogul’s signature property on the Vegas strip.
The Chinese property was about $1.7 billion cheaper to build and analysts predict it will have a higher return on investment.
University of Nevada professor Bill Eaddington says the industry isn’t worried it will draw high-rolling Asian tourists away from Las Vegas. It could even be a marketing boon.
BILL EADDINGTON: I would actually expect to see all of the American companies participating in Macau to have very significant strategies for bringing customers across the ocean.
The Wynn Macau will soon have some familiar competition: The company Las Vegas Sands plans to open a small-scale replica of their Venetian casino next year.
I’m Rachel Dornhelm for Marketplace.
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