Las Vegas Sands owns three operating casino resorts inMacau--the Venetian Macao, the Sands Macao and the Plaza. SandsMacau opened in 2004, followed by the Venetian Macau in 2007 andthen the Plaza in 2008. It also owns CotaiArena, Macau's largestentertainment venue and one of the largest convention andexhibition halls in Asia, and one of three major high-speed ferrycompanies operating between Hong Kong and Macau.

The company's next phase of development is parcels five and six,for which it plans a 13-million-square-foot, US$4.3-billionintegrated resort that would be completed in three phases, thefirst phase of which is partially completed. After that, it woulddevelop one of the three remaining parcels with an additional 3,900branded hotel rooms, and then it would develop the final twoparcels with a project similar size and scope to the integratedresort located on parcels five and six.

"Our ultimate plans for Cotai include five interconnectedintegrated resorts, which leverage a wide range of branded hoteland resort offerings to attract different segments of the market,"the company stated last week in a filing with the Hong Kong stockexchange in advance of the IPO for its Macau operations, which itrecently spun off into a wholly owned subsidiary. "When complete,we expect our Cotai Strip development to contain over 20,000 hotelrooms, approximately 1.6 million square feet of meeting, conventionand exhibition space, over two million square feet of retail malls,six theaters and other amenities."

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