Casino resort Sands Cotai Central has expanded its retail area, adding 150,000 square feet (13,935 square metres) of retail space, operator Sands China Ltd announced on Thursday.
The opening of the third phase of the shopping mall – called Shoppes at Cotai Central – brings the total number of stores to 140 and increases the size of the mall in operation by 70 percent, the company said in a press release.
“A total of 34 new retail shops will be welcoming customers to the expanded family-oriented shopping centre this month,” it stated.
Sands China is a subsidiary of U.S.-based gaming operator Las Vegas Sands Corp.
Speaking at an investor conference in New York last month, Las Vegas Sands chairman Sheldon Adelson said he expects Sands Cotai Central to match the current financial performance of sister property Venetian Macao within five years. Analysts see Sands Cotai Central, across the road from the Venetian Macao and which opened in 2012, as still ramping up its performance.
Sands China is currently expanding the property with a St. Regis branded hotel and mixed-use tower, forecast to be completed late next year.
“The new shops within Shoppes at Cotai Central were specifically chosen to strengthen the family offering here in Macau,” said David Sylvester, senior vice president of global retail.
The company stated the mall “caters specially to families”. Some of the new tenants include home decor brand Zara Home and variety store Marks & Spencer (opening in August), both of which are new to Macau.
During next spring, Sands China aims to open ‘Planet J’ at Cotai Central. The venue will be “the first-ever player-centric live action role playing theme park in the world,” the company said.
In 2013, the Sands Cotai Central shopping mall attracted more than 8.5 million visitors and generated over US$260 million in sales, according to Sands China data.
“The physical interconnectedness of Shoppes at Four Seasons, Shoppes at Venetian and Shoppes at Cotai Central creates a ‘one-stop’ shopping destination for local consumers and tourists,” Mr Sylvester said. Together, the three malls offer around 600 shops.
“Our retail strategy is to accommodate the needs of different consumer demographics, and connect them with the retail brands that most appeal to them at the three distinctly themed Shoppes,” he added.
Nov 28, 2022The stock prices of Hong Kong-listed firms directly linked to Macau casino operations rose in Monday trading, following the Saturday announcement that the six incumbent licensees had each been...
"Genting was always facing an uphill battle to displace an existing concessionaire"
Founder of consultancy Newpage Consulting