Summary Box: Sands launches $4.4B Macau casino

AP News
Posted: Apr 11, 2012 1:31 PM
Summary Box: Sands launches $4.4B Macau casino

OUTSIZED BET: U.S. billionaire Sheldon Adelson's Macau casino operator on Wednesday launched its long-delayed fourth resort, a $4.4 billion complex that is its latest bet on continued strong growth in the world's biggest gambling market.

OUTSIZED OPENING: Sands China Ltd. executives opened the doors to the Sands Cotai Central following a traditional Chinese dragon dance, high-wire tightrope performance and the unveiling of a 2,500 kilogram (5,500 pound) bronze and gold "God of Fortune" statue. Completion was delayed several years by the global financial crisis and worker shortages.

OUTSIZED TOWN: It's the 35th casino to open in Macau, the only place in China where casino gambling is legal. Macau's gambling revenue last year was $33.5 billion, more than five times the amount earned by Las Vegas Strip casinos.