Las Vegas casino mogul Sheldon Adelson was in a buoyant mood on a visit to his new project in Macau three months ago. The 5,800-room Sands Cotai Central, scheduled for completion next year, had already cost $4.4bn by then – “but who’s counting?” he said.
Mr Adelson, one of the biggest donors to Mitt Romney’s US presidential campaign, is brimming with confidence about the future of gaming in Macau, as is his cross-town rival Steve Wynn, who has just broken ground on a new $4bn casino in the former Portuguese colony.
Yet both are raising their stakes in Macau just as the market is losing steam.
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