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Tag: Cotai Strip

  • Sheldon Adelson, creator of the Cotai Strip, Marina Bay Sands, dies at 87

    Sheldon Adelson, creator of the Cotai Strip, Marina Bay Sands, dies at 87

    “It is with unbearable pain that I announce the death of my husband, Sheldon G. Adelson, of complications from a long illness,” she said in a statement.

    Adelson was diagnosed with non-Hodgkin’s lymphoma in 2019 and recently resumed treatment.

    She dubbed the casino mogul as the “love of my life” and her “soulmate,” before saying he is “utterly irreplaceable.”

    Adelson is survived by his wife, five children and grandchildren. In a statement, President Trump said that “Sheldon lived the true American dream.”

    “The world has lost a great man. He will be missed,” the statement read.

    President Bush released a statement in tribute to his “friend” Adelson, who he praised as an “American patriot.”

    “Sheldon battled his way out of a tough Boston neighborhood to build a successful enterprise that loyally employed tens of thousands – and entertained millions,” the statement read.

    Trump’s eldest son, Don Jr, also paid tribute to the casino giant, saying: “He treated his employees like family. His philanthropic generosity changed countless lives.”

    According to Forbes, Adelson had a net worth of $35.6billion as of Monday.

  • Macau Shopping Break to lure tourists

    Macau Shopping Break to lure tourists

    Sands Resorts has launched the Macau Shopping Break promotion in a bid to lure tourists to the Cotai Strip and boost retail spending.

    Timed to coincide with the upcoming festive season, Sands Resorts Cotai Strip Macau has launched a special hotel package – the Macao Shopping Break – allowing guests to maximise their experience at four hotels across the integrated resort, including savings of up to 40 per cent on room rates.

    Guests also have the chance to win some of HK$195,000 in prizes.

    The promotion runs from this week until February 7, with guests able to book rooms for stays during the same period at The Venetian Macao; Conrad Macao, Cotai Central; Holiday Inn Macao Cotai Central and Sheraton Macao Hotel, Cotai Central with packages available from as low as MOP/ HK$1198.

    Guests can also enjoy discounts with our “Shop & Dine Specials” discount booklet redeemable at over 125 specially selected international designer shops and outlets within Sands Resorts Cotai Strip Macao.

    And guests who book rooms via the Macao Shopping Break will automatically be entered into the Macao Shopping Break Lucky Draw Campaign for a chance to win luxurious prizes totalling $195,000. One winner will be drawn every two weeks in bi-weekly draws from Nov. 12, 2015 to Feb. 11, 2016, offering seven prizes including suite accommodation and tempting surprises. Three winners will be drawn in a Grand Draw on February 15, with prizes including suite stays and luxury travel amenities from DFS T-Galleria.

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  • Sands retail profits soar

    Sands retail profits soar

    Macao’s gambling downturn may be impacting on casino operators’ bottom lines – but retailing is on the rise.

    Las Vegas Sands, which owns The Venetian Macao, Four Seasons Macao and Sands Cotai Central shopping malls in Macau – and the Marina Bay Sands in Singapore – has reported an 18.2 per cent lift in profits from its Asian retail operations year on year for the quarter to June 30.

    Gross revenue from tenants in the company’s malls on the Cotai Strip and at Marina Bay Sands, reached US$134.4 million for the second quarter of 2015, an increase of 13.6 per cent compared to the second quarter of 2014.

    “Operating profit derived from these retail mall assets increased 18.2 per cent for the quarter compared to the quarter one year ago, reaching $119.4 million,” the company said in its quarterly financial statements filed in the US.

    The company says that despite the softer gaming market in Macao, The Venetian Macao “continued to enjoy Macao market-leading visitation and financial performance”.

    “The property generated adjusted property EBITDA of $255 million in the second quarter with an EBITDA margin of 34.5 per cent.”

    Mall revenues of The Shoppes at the Venetian Macao increased 14.9 per cent during the quarter to reach $48.5 million.

    The Shoppes at Four Seasons – 100 per cent leased at the end of the quarter – brought in $31.1 million in gross revenue and turned an operating profit of $29.2 million, giving an operating profit margin of 93.9 per cent.

    The Shoppes at Cotai Central brought in $14.6 million and a profit of $12.6 million. That mall was 97.8 per cent leased.

    And in Singapore, The Shoppes at Marina Bay Sands, 93.6 per cent leased at period end, brought in $40.4 million of revenue for the quarter and a profit of $34.5 million, for an operating profit margin of 85.4 per cent.

    Tenant sales per square foot were $5589 in the luxury section of the Four Seasons property, $2646 in the non luxury section; at the Venetian Macao $1578, at Cotai Central $1004. Marina Bay, by comparison, reached $1393.

    The overall Asian retail operation achieved $1789 per square foot in the quarter to June 30.

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