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ANOTHER day, another ultra luxe casino resort opens in Macau.
The Parisian Macau – featuring a whopping 3,000 rooms, hundreds of shops, and a theater, a water park, and an Eiffel Tower replica – marks Adelson’s fifth resort in the special administrative region.
Despite the scale of the hotel, Macau’s casino industry revenues have plummeted to the lowest it’s been in five years due to China’s slowing economic growth.
Reuters reported that a campaign against demonstrations of wealth among public officials has driven many Chinese high-rollers into rival gambling destinations in Asia.
This is further accentuated by a government push to wean Macau off gambling by promoting a family-friendly image for the tourist island.
The Lyon Suite at Parisian Macau
However, amid the loss of casino revenues at large, figures rose by a slight 1.1 percent, the first monthly growth after 26 straight months of decline.
Global Market Advisors’ chief strategist Jonathan Galaviz told CNBC: “I see The Parisian performing within expectations, i.e. along with what the current market is doing.”
“The Parisian should go a long way towards fulfilling the government’s goal of more non-gaming revenues… we think that Parisian will give consumers a reason to come back to Macau.”
Last month, Steve Wynn of Wynn Resorts launched the very extravagant Wynn Palace, a US$4.2 billion project which Wynn himself described as “the most beautiful hotel in the world”.
The hotel holds 1,706 rooms, suites and villas, all which carry out customized beds, bedside consoles that can open and close your drapery, “oversized” HD televisions, and plenty of metallic gold accents.
The post Paris-inspired casino resort launches in Macau amid decline in gambling revenues appeared first on Travel Wire Asia.
Source: travelwireasia.com