In the presence of huge crowds outside the half-scale replica of the Eiffel Tower, the Parisian Macau officially opened at 8:18pm on Tuesday.
The opening ceremony featured fireworks set off from the replica, roughly equivalent to a 38-storey building, as can-can music played, and was preceded by a press conference held prior to the grand opening of the Paris-themed mega resort on the Cotai Strip, led by 82-year-old Billionaire casino tycoon, Sheldon Adelson.
The CEO and executive director of Sands China Ltd (HKSE: 1928) said during the press conference that since development has been completed on all six plots of land the government granted the company, he is interested in building more integrated resorts in Macau, according to the Macau News. Adelson said, “My dream was to have, actually, I wanted 20 properties, but we only got six lots. We’re very happy with this, we’re not unhappy, and with the opening of The Parisian tonight [last night] we have completed the available land and parcels on what I call the Cotai Strip,” according to the news agency.
Predicting a revival for beleaguered Macau, Adelson said he chose to open the Parisian now due to his optimism that “we have it the bottom” after August saw gaming revenues increase slightly, ending a 26-month continuous drop. He said, “Now, is it sustainable for a long time to come? I can’t answer that question, but based upon the pre-bookings we have, the convention bookings we have, I think we have essentially hit the bottom,” as reported by the news agency. Adelson said he predicts the growth in gaming revenue will be a gradual one.
The US$2.7-billion resort made its debut with 1,600 slot machines and 410 gambling tables, and 3,000 luxury hotel rooms and suites. Recently, the Macau government confirmed that Sands China would receive a total of 150 new tables, with 100 available for the opening; 25 on January 1 of next year; and the remaining 25 on January 1, 2018. In addition to the half-size replica of the Eiffel Tower covered in 6,000 individual light bulbs, the Parisian Macau features signature restaurant La Chine on Level 6 and observations decks on Levels 7 and 37, there is another signature restaurant, Lotus Palace on Level 3, 7 more restaurants and a food court, an open-air Pool Deck and Aqua World, Qube Kingdom, which includes 2,000 square meters of both indoor and outdoor play areas, Le SPA’tique, and 150 boutiques and 5,200 square meters (55,972 sq ft) of total meeting space, which includes 3,400 square meters of ballroom space. Also featured is the 1,200-seat Parisian Theatre, which will host Thriller Live, a concert created to commemorate Michael Jackson.
The Parisian is the latest project of Sands China in Macau, after debuting its Sands property in Nape in 2004, which was followed by the Venetian and Sands Cotai Central. According to the report, Adelson said that in light of the fact that he was able to break even in a year’s time with his Nape Sands, he hopes The Parisian will follow suit, or at least within four years. He said he would be disappointed if breaking even takes longer than that.