A massive $2.1 billion casino resort project named “City of Dreams” became the second-largest casino complex in the Asia’s gambling capital of Macau after the structure was unveiled on Monday. This is certainly a positive development for Macau which reported a decline in gambling revenues for the first quarter of 2009.
The “City of Dreams” has three hotels, about five hundred gambling tables, shopping mall, restaurants and Las Vegas-themed entertainment venues. One popular hotel names is in the complex and that is Hard Rock Hotel.
This is the first highly-financed casino that opened in Macau for the past two years. It is a project by the Melco Crown Entertainment – a partnership between rich businessmen Lawrence Ho, son of gambling scion Stanley Ho, and Australian James Packer.
Ho said that this is a positive development for the gambling capital and even for the competitors because more people will be visiting Macau not just for gambling but for a luxury vacation and entertainment.
However, analysts said that the major challenge for the “City of Dreams” is how to retain interest in the long term once the opening stage is over. For now, the project is gaining interest but the challenge lies after the “honeymoon stage.”