Venetian Macau Budget Reaches $2 Billion

MACAU – As reported by the China Standard: "The blockbuster budget for the Venetian Macau casino resort in Cotai has climbed to US$2 billion (HK$15.54 billion) and could go higher as owner Sheldon Adelson announced he is seeking additional land for expansion.

"The Venetian will be the most expensive project ever built in the city, with a budget now topping that of the Macau International Airport by two-thirds.

"William Weidner, president and chief operating officer of Adelson's Las Vegas Sands, attributed US$165 million of the latest figure to the decision announced this week to open the resort with 3,000 guestrooms, instead of holding off on half the rooms till later.

"The budget, last put at US$1.8 billion, keeps rising.

"…Las Vegas Sands aims to open the Venetian Macau in late June 2007. This would be a year later than required under the company's government gaming concession contract, but executives say they expect to receive an extension…"

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