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Stock Exchange entry of Las Vegas Sands subsidiary is a little chilly

The Macau subsidiary of the millionaire Sheldon Adelson's Las Vegas Sands made quite a chilly entry onto the Hong Kong stock exchange. Although this stock exchange listing is the second largest of 2009 the shares only reached 9.32 Hong Kong dollars even though it had reached 8.78 HK$. Its director general is confident for the future even if the beginning isn't that satisfactory. Las Vegas Sands is well settled in Macau and owns a number of hotel-casinos: Venetian Macau, Sands Macau and Four Seasons Macau. Macau, an ex-Portuguese colony, is the only Chinese town to authorise cash games which explains the massive influx of tourists who come from the different Chinese provinces to discover and play in one of the numerous Macau casinos. Following the catastrophic economic crisis, Las Vegas Sands put a freeze on its projects and not less than 11,000 workers were left go. But the indications of a world wide economic upturn encouraged many Chinese enterprises to be listed on the stock exchange this year as was the case of the Macau subsidiary of the Las Vegas Sands which is the second largest stock exchange listing of the year. For that, no less than 2.5 billion HK dollars were raised to complete the many projects suspended due to the economic slowdown. Wynn Macau also had a timid listing on the Hong Kong stock exchange this year.

For a few years, Macau has outshone, in terms of income, the ex-international gaming capital : Las Vegas. Having become a gaming mecca in record time, Macau has built hotels and casinos that are as impressive as those of Las Vegas. This isn't surprising since the groups directing the casinos in Nevada have also conquered Macau like Sheldon Adelson, Kirk Kerkorian or the Wynn casino group. Millions of tourists pour into Macau every year, the majority coming from China but also from Hong Kong.

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