Parisian Macao Opens

The Parisian is operated by the Chinese unit of Adelson’s Las Vegas Sands Corporation, and is the second American-owned resort to open in the last month after Steve Wynn’s $4.2 billion Wynn Palace. Singer Lara Fabian was the opening entertainment for the Parisian and actress Sophie Marceau its advertising face.

Macau, the only part of China where gambling is permitted, had been suffering a downturn in revenues for a while after years of overheated growth. At the opening press conference Adelson said he thought things were looking up. “We are optimistic that we have hit the bottom,” he said. “Is it sustainable for a long time to come? I can’t answer that question, but based upon the pre-bookings we have, based upon the convention bookings we have, I think we have essentially hit the bottom.”

Still, even in the doldrums, revenues in Macau are about four times bigger than Las Vegas’s. The Parisian boasts 1,600 slot machines and 410 gambling tables, which will likely be supplemented by 50 more over the next two years. Attractions include street performances and a shopping mall made to look like a Paris street. Adelson’s company has said that the resort is probably its last in Macau. From now on it will look for other opportunities in the region.