The lights of Macau
Sino Express Travel will manage a 160-room hotel in Macau for 10 years. Construction and furnishing installations of the Macau hotel are at the final stages with a target completion by the end of this year.
Macau’s economy is largely based on tourism and casino gambling; the gambling revenues from Macau’s casinos made news in 2006 by surpassing those of Las Vegas strip.
Sino believes the hotel in the vibrant market of Macau will add great value to its growing portfolio of hotels and attractions.
The potential problem is that the Chinese government may not totally agree with Sino Express Travel and Macau.
It has already started slowing down the visas issued and there is a strong change that it may go further if the financial situation worsens. 50% of the gambling money lost in Macau comes from China.
Source: MarketWatch