On Saturday, Macau’s Secretary for Economy and Finance, Lionel Leong Vai Tac, confirmed that in addition to 1,614 slot machines, casino operator Sands China Ltd (HKSE: 1928) would receive 100 new-to-market tables for the September 13 opening of its US$2.7-billion Parisian Macao on the Cotai Strip.
The Macau government’s table allocation of 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, is the same as what was granted to the Wynn Palace for its August 22 opening. The table allocation, however, is still less than the 250 granted to rival gaming operators Melco Crown Entertainment Ltd. and Galaxy Entertainment Group Ltd. for their Galaxy Phase II and Studio City casinos which opened in May and October of 2015, respectively. In December, 82-year-old billionaire Sheldon Adelson said that he hoped to receive 250 tables for the Parisian, although Sands China President Wilfred Wong said earlier this year that they would like to receive even more than that, according to Bloomberg Markets.rew
On Saturday, the Secretary explained to reporters that the decision was made to allocate the new tables in phases for the two Cotai resorts in order to prevent a sudden short-term increase in the total number of tables in Macau. He stated that the table allocation also had to be in compliance with Macau’s table cap system, which is based on the government’s principle of no more than three percent table growth in Macau for a ten year period from 2013 to December 2022, according to local sources.
Construction on the Parisian Macau began in February 2013 and after delays, in August 2014 the Las Vegas Sands Corp. (NYSE: LVS ) and its majority-owned subsidiary, Sands China Ltd. announced that the company had received the government permit needed for construction on the Parisian Macao to resume. In October 2015, a topping out ceremony was held for Sands China Ltd’s fourth property at Cotai Strip Resorts Macao. The project, which was given an extension earlier this year, was previously scheduled to open on June 25 after a March 25 launch plan was dropped.
In addition to the casino and 3,000 luxury hotel rooms and suites, The Parisian Macau features a half-size replica of the Eiffel Tower covered in 6,000 individual light bulbs, with signature restaurant La Chine on Level 6 and observations decks on Levels 7 and 37, over 20 restaurants including two additional signature restaurants, 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.
Las Vegas Sands, based in Paradise, Nevada, was founded in 1988 by Sheldon Adelson. The company’s properties include the Venetian Las Vegas, The Palazzo and Sands Expo Center in Las Vegas, Sands Bethlehem in Eastern Pennsylvania, and the Marina Bay Sands in Singapore. Through its majority ownership in Sands China Ltd., Las Vegas Sands also owns properties on the Cotai Strip in Macao, including the Cotai Arena located in The Venetian Macao, The Plaza Macau/Four Seasons Hotel Macao, Sands Cotai Central, and The Parisian Macau. The company employs nearly 50,000 worldwide.
Editor’s note: Some analysts are now predicting that Parisian Macao may open with as many as 450 total tables, more than 50 of them set for VIP play. This could be accomplished by moving under-utilized tables from other properties within the district.