Casino Upstarts Give U.S. Operators a Run for Their Money in Asia
Gambling venues are opening across the region to lure Chinese bettors from Macau—home to Las Vegas brands Wynn, Sands
The Las Vegas Strip now has a bigger and better competitor. Macau China has a three year old casino that is famous world-wide. The gambling revenue was six times greater than the Las Vegas Strip in 2018. However, the revenue began to decline due to the absence of the high roller gamblers that are frequent customers of the casino. In response, a private investment bank is said to invest $22.5 billion dollars for planned projects in Japan by 2025. Competitors such as Wynn and MGM on the Las Vegas Strip became anxious because, "none of which know whether Macau will renew their licenses when they expire in 2022." Both Wynn and MGM believe the $22.5 billion dollar investment will run them out of the business in China. Parisian Macau casino resort has the upper hand in the market since they are being newly renovated and the Macau, China is the only legal place for casino gaming.
Great choice, I believe this article clearly shows how a new company with new ideas can surpase the current establishments. In this situation, it is impressive that this casino is able to surpase Wynn and MGM since they are well known establishments. For instance, MGM is known to hold payperview boxing matches. So I would imagine their popularity and audience to be high.
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