Las Vegas Sands Corp. and Far East Consortium International Limited have reached agreement on all the commercial terms necessary for Far East to build a multi-hotel complex — which will include an Intercontinental Hotel, Holiday Inn and Far East hotel brands Cosmopolitan and Dorsett — on the Cotai Strip in Macao, Special Administrative Region of the People’s Republic of China.
Under the terms of the agreement, Far East Consortium will develop the complex and will work with the hotel brands to manage the five hotels on the property. Las Vegas Sands will own and operate the casinos and showrooms within the podium complex supporting the hotels. The definitive agreements are being finalized and the parties expect to execute them early in the New Year.
The Cotai Strip is a master planned development of resort casino properties on an area of reclaimed land between the islands of Coloane and Taipa in Macao. In addition to 10,000 guest rooms, the first phase of the Cotai Strip is expected to offer a critical mass of business, leisure and entertainment attractions, including world class meeting and convention facilities, over 20,000 seats of live entertainment in eight separate theater venues and the most modern and exciting casinos in Asia.
The Cotai Strip will be anchored by the 10.5 million square foot Venetian Macao Hotel Resort Casino, which is scheduled to open in 2007. In addition to the Far East property and its hotel brand partners, Las Vegas Sands has previously announced that Shangri-La Hotels and Resorts will operate the Shangri-La Hotel, Macao and the Traders Hotel, Macao in a Las Vegas Sands-owned building across from The Venetian Macao.

Las Vegas Sands Corp. is a hotel, gaming, resort and exhibition/convention company headquartered in Las Vegas, Nevada. The company owns The Venetian Resort Hotel Casino and the Sands Expo and Convention Center, where it hosts exhibitions and conventions, in Las Vegas and the Sands Macao in the People’s Republic of China Special Administrative Region of Macao. The company is also developing additional casino hotel resort properties, including The Palazzo Resort Hotel Casino in Las Vegas and The Venetian Macao Casino Resort in Macao.
Far East Consortium International Limited has been listed in Hong Kong since 1972. The Company is principally engaged in property development and hotel operations in Greater China. The Company is committed to be a top developer in China primarily targeting the middle class customers and to be a leading hotel group in Hong Kong and Greater China. Presently, the Company owns and operates six hotels in Asia with two additional hotels opening soon in Hong Kong.

Popularity: 20%