New Macau Casinos Have Luck of the Draw in Expansion Phase

Galaxy Entertainment Group and Melco Crown Entertainment look best placed to benefit from the next phase of Macau Casinos development as the world’s gambling capital adds eight more mega-casinos by 2017. The expansion will take place in the Chinese territory’s glitzy Cotai Strip and is expected to more than double Macau’s annual gaming revenues to $115 billion in four years, according to research from U.S. brokerage Wells Fargo. Cotai is an area of reclaimed land that is becoming a Las Vegas-style tourist hub with shopping centers, hotels and entertainment to complement the casinos. U.S. billionaire Sheldon Adelson’s Las Vegas Sands…