Macau last year overtook the Las Vegas Strip in revenue. Macau, the world’s busiest gaming hub, is the only place in China where casinos are legal. It’s my job as an entrepreneur to be visionary.” It’s the job of the analysts to be skeptical. “There’s absolutely no question about the viability of this project whatsoever,” he said. Adelson, 74, dismissed suggestions he’s overreaching. The company today said the first stage of its Macau project cost $2.4 billion, 33% more than earlier estimates. “There could be some missteps in the beginning, but we expect things to start moving up in about a year.” Las Vegas Sands shares fell 3.9% to $97.79 in US trading Monday.
“This is a big bet,” said Billy Ng, an analyst at JPMorgan Chase.
