Asian Investors Bet on Vegas for Chinese Tourism
LAS VEGAS — (Associated Press) - Sin City and Asian investors are going all in on Chinese tourism as some of Las Vegas’ latest developments on and off the Strip target Chinese nationals and Chinese-Americans.
The Chinese have been regulars along the resort corridor for decades.
Now, officials and developers intent on capitalizing on burgeoning Chinese wealth and Asian-American population growth are courting them in a major way.
Nonstop flights from mainland China are planned for the first time, and two Asian-themed casinos will be among the first post-recession additions to Sin City’s glittering skyline.
The new hotel-casinos boast of plans for what some other resorts such as the MGM Grand, Wynn and Venetian have quietly offered for years. Guests will be treated to familiar foods, Chinese-speaking service employees and the table game of choice, baccarat.
“The Chinese do quite enjoy a very Chinese experience. They do gravitate toward Asian amenities. At Wynn Macau, it’s mostly Chinese restaurants and menus in Chinese,” said Alex Bumazhny, gambling analyst with Fitch Ratings.
The Lucky Dragon Hotel and Casino, financed with money from Chinese investors, will hold its grand opening Dec. 3, and Resorts World Las Vegas is set to begin construction in earnest by year’s end.
