Las Vegas Sands Corp. has secured $1.75 billion to complete construction on the Shangri-La, Traders, and Sheraton resort complex on Macau’s Cotai Strip. “The completion of the Shangri-La, Traders, and Sheraton complex represents a critical next step in Macau’s ability to both diversify its economy and further reach its potential as a full-scale leisure and business destination,” says. Sheldon Adelson, chairman of Las Vegas Sands and Sands China Ltd., in a statement. “The additional 6,000 hotel rooms are especially important in growing the meeting and convention business in Macau.”
The project’s first phase will feature about 3,700 hotel rooms and suites, retail, gaming, and convention facilities, opening in Q3 2011. Phase two includes a 2,300-room Sheraton hotel tower, as well as other non-gaming amenities, and is expected to open approximately six months later. Timing for the completion of a third phase, which includes plans for a St. Regis hotel and serviced apartments, will be announced at a later date.
