Steve Wynn, the casino magnate’s Wynn Group has developed the Wynn Macau a 20 storey hotel and casino complex which was the first Las Vegas style resort in Macau and plans to build a new casino resort of 210 000 square metres on the Cotai strip to be completed in late 2014 or early 2015. MGM which has the MGM Grand, a 600 room hotel and grand casino resort also wishes to develop a 280 000 square metre casino on a 17.80 acre site. Stanley Ho the Hong Kong based casino owner also plans to develop an entertainment complex on the strip. It is not yet known which of these three groups will be approved for the land grants from the Macau government.
Macau has now surpassed Las Vegas as the world’s gaming capital and it continues to attract investment by the world’s leading providers of casino resorts. It was recently announced by the Macau government that two applications for land grants would be approved in 2012. These land grants are for development on the Cotai strip which is like an Asian Las Vegas.The Cotai strip takes its name from the Las Vegas strip and it is also built on a strip of land reclaimed from the sea which connects the two islands of Taipa and Coloane.
It is linked by three bridges to Macau. The Cotai strip is a leading tourist destination in Asia, it is based on the glamour and entertainment found in Las Vegas and has several hotel casinos built by major Las Vegas hotel casino groups. There are also huge shopping areas with designer shops and large entertainment and convention centres.Several of the major hotel casino groups with major establishments on the Las Vegas strip have developed entertainment resorts on the Cotai strip. (See article: Macau Casinos Resisting the Worldwide Economic Crisis). One such group is the Las Vegas Sands group which built the world’s largest casino, the Venetian Macau on the Cotai strip in 2006. The Venetian Macau has 3000 suites, the casino has over 3400 slot machines and 800 gaming tables, extensive retail and entertainment areas, restaurants and a convention centre. The Sands group also plans to open the Sands Cotai Central during 2012. It will comprise of a 9800 square metre casino, a 5 star hotel, retail outlets, a spa, restaurants and a convention centre. In all the non-gaming facitilies will be over a million square metres. This trend for complete entertainment is seen in all the development on the Cotai strip where the entertainment in addition to playing in the casinos is seen as a very important element in attracting tourists to Macau.