Sands Chinais planning to invest at least $2.5bn in Macau on a Paris-themed resort featuring a 160m replica Eiffel Tower, as the company continues its expansion in the territory’s gaming market despite a slowdown in the Chinese economy.
Michael Leven, president of Las Vegas Sands,which controls the Macau subsidiary, said the 3,000-room resort – “The Parisian” – would be financed with $900m in cash and the balance in bank loans.
“I have always believed this industry is supply-driven,” said Sheldon Adelson, chairman and founder of LVS and a backer of US Republican presidential candidate Mitt Romney. The company plans in November to begin pre-construction work on the project, its fifth in the territory, while awaiting final government approval.
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