Casinos such as the Wynn and Sands have already helped this southern coastal Chinese city surpass the Las Vegas Strip as the world's most lucrative gambling center.
The Venetian Macao Resort Hotel is the largest building in Asia and the second-largest in the world.
The $2.4 billion Venetian, scheduled to open Tuesday, aims to take a further step and transform Macau from a gambling pit stop for Chinese tourists to a vacation and business convention destination where a range of visitors can shop, watch shows -- and roll the dice.
Macau's casinos -- which raked in $6.95 billion in gambling revenue last year, while the Las Vegas strip made $6.69 billion -- are scattered across the territory.
American billionaire Sheldon Adelson hopes his Venetian Macao Resort Hotel on Cotai will help launch a massive, concentrated resort area he calls the Cotai Strip, after its Las Vegas counterpart.
"Today is the beginning of what has been a dream of mine for some time to reproduce the capital of entertainment in Asia for Asians," Adelson said at a press conference Tuesday several hours before the Venetian was to open to the public.
The 10.5 million-square-foot Venetian -- twice the size of the Las Vegas original -- is the largest building in Asia and the second-largest in the world. The largest building is a Boeing Co. plant in Washington.
The Venetian houses 3,400 slot machines -- with room to expand to 6,000 -- and more than 800 gambling tables. It has 3,000 rooms, a 15,000-seat sports arena, retail space for 350 stores, 1.2 million square feet of convention space, fine dining and a Cirque du Soleil-produced show.
Its decor aims to replicate the beauty of Venice -- with a Chinese touch. Chinese-style sampans as well as gondolas will sail down canals. The resort also features a replica of Venice's St. Mark's Square.
Adelson also plans to open more hotels under brands such as Four Seasons, Sheraton and St. Regis next door. In all, his Las Vegas Sands, which also runs the Sands Macao on the Macau peninsula, plans to invest up to $12 billion and build 20,000 hotel rooms on the Cotai Strip by 2010.
The Venetian Macao Resort Hotel is the largest building in Asia and the second-largest in the world.
The $2.4 billion Venetian, scheduled to open Tuesday, aims to take a further step and transform Macau from a gambling pit stop for Chinese tourists to a vacation and business convention destination where a range of visitors can shop, watch shows -- and roll the dice.
Macau's casinos -- which raked in $6.95 billion in gambling revenue last year, while the Las Vegas strip made $6.69 billion -- are scattered across the territory.
American billionaire Sheldon Adelson hopes his Venetian Macao Resort Hotel on Cotai will help launch a massive, concentrated resort area he calls the Cotai Strip, after its Las Vegas counterpart.
"Today is the beginning of what has been a dream of mine for some time to reproduce the capital of entertainment in Asia for Asians," Adelson said at a press conference Tuesday several hours before the Venetian was to open to the public.
The 10.5 million-square-foot Venetian -- twice the size of the Las Vegas original -- is the largest building in Asia and the second-largest in the world. The largest building is a Boeing Co. plant in Washington.
The Venetian houses 3,400 slot machines -- with room to expand to 6,000 -- and more than 800 gambling tables. It has 3,000 rooms, a 15,000-seat sports arena, retail space for 350 stores, 1.2 million square feet of convention space, fine dining and a Cirque du Soleil-produced show.
Its decor aims to replicate the beauty of Venice -- with a Chinese touch. Chinese-style sampans as well as gondolas will sail down canals. The resort also features a replica of Venice's St. Mark's Square.
Adelson also plans to open more hotels under brands such as Four Seasons, Sheraton and St. Regis next door. In all, his Las Vegas Sands, which also runs the Sands Macao on the Macau peninsula, plans to invest up to $12 billion and build 20,000 hotel rooms on the Cotai Strip by 2010.
Opinions are mixed on whether he will succeed.
Some analysts believe Adelson is smart to broaden the range of tourists visiting Macau. The convention business -- a specialty of the Las Vegas Sands -- is a lucrative one, they say.
"The Venetian will get new customers who are right now not going to Macau at all," analyst Billy Ng at JPMorgan Securities said.
Las Vegas Sands President William Weidner said earlier that 44 major conventions have already been scheduled at the Venetian for the next two years. He also said he expects the Venetian Macao to lengthen the average guest stay to three to four days from 1.2 days in other Macau hotels.
Others say it will take time to change tourism patterns in Macau.
Rob Hart at Morgan Stanley said Macau will never become a diversified travel destination like Las Vegas.
"It's going to be slow transition ... It's never going to happen to the same extent," Hart said.
"(Visitors will) go to the mall, but mainly they'll go to the casino," he said.
"The Venetian will get new customers who are right now not going to Macau at all," analyst Billy Ng at JPMorgan Securities said.
Las Vegas Sands President William Weidner said earlier that 44 major conventions have already been scheduled at the Venetian for the next two years. He also said he expects the Venetian Macao to lengthen the average guest stay to three to four days from 1.2 days in other Macau hotels.
Others say it will take time to change tourism patterns in Macau.
Rob Hart at Morgan Stanley said Macau will never become a diversified travel destination like Las Vegas.
"It's going to be slow transition ... It's never going to happen to the same extent," Hart said.
"(Visitors will) go to the mall, but mainly they'll go to the casino," he said.
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