Gaming analysts have underscored the optimism shown by the CEO of Las Vegas Sands, Sheldon Adelson. Among them is Union Gaming Group LLC analyst, Grant Govertsen.
“We have fairly high expectations for The Parisian to be the most likely property to grow the market,” Govertsen said. “Sands China does a better job than its peers in delivering what mass-market consumers want, and The Parisian should hit a sweet spot given the Chinese affinity for Europe in general, and Paris specifically,” he added.
Ahead of the Parisian’s opening, Las Vegas Sands and Sands China have both surged about 30 percent so far this year through Monday, outperforming their peers’ 18 percent rise according to Bloomberg Intelligence’s Macau gaming index. Sands China fell 2 percent to HKD33.75 at the close of Hong Kong trading yesterday while Las Vegas Sands shares dropped 0.5 percent to USD56.63 at 10:06 a.m. in New York.
Adelson was optimistic, openly declaring that a gaming recovery is underway – an opinion shared by MGM Resorts International chairman and CEO, James Murren.
This opinion contrasts with the view of Lui Che Woo, chairman of Galaxy Entertainment Group. Lui called for caution, arguing it to be necessary to achieve sustained growth.
The Parisian opened its doors yesterday and is said to target the rising Chinese middle-class. Its facilities include a water theme park, a children’s play area, a shopping mall, as well as other family-friendly facilities.
With 3,000 guest rooms and suites, The Parisian also plans to attract visitors with resident and guest performances. One of these will be the musical and dance show “Thriller Live,” a revival show based on the work of the late pop-star Michael Jackson.
*with agencies
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