Las Vegas Sands will double its investment in casinos in Macau, spending more than eight billion dollars there and on a neighboring island over the next four to six years, a report said Monday.
Bill Weidner, Las Vegas Sands president and chief operating officer, told the Financial Times that the development opportunities were contingent upon approvals by the former Portuguese enclave and will occur in phases over time.
Weidner said the US company's total investments and turnover would triple as a result of its initiatives in Asia.
"Most of the company's investments and revenues will be in Asia," he was quoted as saying.
In Macau, the company plans to spend 3.0 billion dollars each in two phases on the Cotai Strip and is also in talks to develop Heng Qin island, a Chinese island bordering the Cotai Strip, the report said.
In May, the US gaming operator won the bid to invest more than 3.18 billion dollars in a casino resort in Singapore, making it one of the most expensive projects of its kind in the world. The casino is due to open in 2009.
