The latest edition of The Strip Podcast features bits of an interview with Steve Wynn mostly related to Macau and the opening of his first venture there last month. If you haven't listened, it's an interesting companion bit to the Sheldon Adelson piece from a few weeks back.
From the interview and others like it, we know that Steve Wynn believes that while development on the so-called 'Cotai Strip' will at some point down the road bear fruit, he thinks that time is 5-7 years off when the area is more built out. Wynn Resorts purchased land on the Cotai Strip and plans to develop up to three hotels there. Wynn's been clear that he thinks Cotai will be great, just not in the next couple of years.
Adelson's position is a bit different. He's currently constructing the first Cotai property, the Venetian Macau. When it opens in 2007, it will at first sit all by itself out there, though it is designed to be a fully integrated resort and will offer a wide array of facilities, much as the Venetian in Las Vegas does today.
I'm not asking if Cotai is a good idea or not - everyone agrees that Cotai is likely the long-term future of Macau. What I'm asking is if this is the right time or if Cotai will have a slow start until more of the planned hotels are on-line...
Will Adelson have to wait until 2010 or 2012 to reap the benefits and is Las Vegas Sands making a mistake to not massively expand the Sands hotel component along with these other projects?