Las Vegas Sands (LVS) is looking at expanding into as many as five or six countries in the hope that they’ll replicate their success in the Asia-Pacific region. Chief Executive Sheldon Adelson comments came as he looked towards Japan, Korea, Taiwan and Vietnam as their next ports of call for Asian expansion.
Adelson explained, “We are going to develop in Europe, we are still going to develop in Asia; Asia is our first preference.”
In terms of Europe, LVS will first be setting up shop in Spain as their plans for EuroVegas look at an advanced stage. The resort will be twice the size of Macau’s Cotai strip and have 12 3,000-room properties. EuroVegas will be built in either Madrid or Barcelona with Europe for the first time experiencing the Far East’s integrated resort model.
Adelson also spoke about the properties they own in Macau and Singapore. He told Reuters, “In the case of Macau and Singapore, they are going to continue to grow. Singapore is not ramped up at all. Macau is ramped up, but the entire universe of its market continues to grow.
“The Macau government should require that the developer develops a basket of amenities that can truly be called an integrated resort.
“This is a very different industry. The integrated resorts model that we take pride in having developed is a supply driven industry. The more integrated resorts that are put up, the greater the universe that is developed.”
Even with the anticipated expansion into other areas for the moment, Macau and Singapore will represent the core of their business. Although diversifying into other sectors is likely to intensify over the coming months.
