Macau gaming operators have tended to focus their expansion efforts on Macau properties as Macau has been the biggest gambling hub in the world for a long period of time and brought in over five times the revenue than casinos in Las Vegas. Just about all of the biggest and most well known casino operators have operations in Macau as they look to take advantage of Macau’s proximity to Mainland China and target the lucrative Chinese market.
New Casino Resort In Cape Verde
Macau Legend, a gaming operator in Macau stated in 2015 that it plans to expand its presence to West Africa and had plans for building a casino resort in Cape Verde. The announcement came at a time when Macau was in the middle of an anti-corruption crackdown launched by Beijing that targeted Macau’s casinos and VIP gamblers. The massive crackdown caused the gross gaming revenue to decline for 26 consecutive months and gaming operators lost billions of dollars during this period of time.
Macau Legend is looking to set up a gaming facility in Cape Verde which is a group of Islands and build a gaming facility that will cost the company around $275 million. The company recently announced that the first phase of construction had commenced and if all goes according to plan, the casino resort should open by 2019. Macau Legend is building a complex that is spread across 1.6 million square feet and will consist of a number of gaming and non-gaming facilities.
The resort is being developed in Praia, which is the capital city of Cape Verde and will include a casino, a museum, a resort and office buildings. A portion of the land on which the resort is being constructed was once under the sea but was reclaimed and turned into real estate. A seawall has already been constructed and construction work on the hotel will commence shortly. Cape Verde has a population of over a half a million but Macau Legend is not depending on this market segment to visit its casino resort.
Focus on Chinese and European Customers
Macau Legend wants to market its Cape Verde property in a similar manner to its Macau casino resorts. The plan is to once again target the lucrative Chinese market and also Europe not forgetting other parts of Africa. China has been ranked number one when it comes to the world’s biggest outbound market for the last four years. A report from the UN World Tourism Organization (UNWTO) shows that tourists from China have spent close to $261 billion in 2016 which was an increase of 12 percent when compared to 2015. The UNWTO has revealed that China’s tourism market has recorded double digit growth since 2004 and will continue to grow in the coming years.
Silk Road To Boost Investment In Africa
There are also other encouraging signs for Macau Legend as the Chinese government is focusing on developing its ‘Maritime silk road’ which is also known as the ‘One belt, One road’ project. The project looks to develop connections as in the olden days with both sea and land that will allow China to connect more easily with the African continent. Once the project is completed, Chinese investors will look to invest heavily into Africa and so will Macau’s gaming operators.
Macau Legend has led from the front and will definitely have an advantage over its competitors at least for the first few years as it will not be very long before other gaming operators look to establish their presence in West Africa. Back in 2015, when Macau Legend confirmed its intention of venturing into Cape Verde, the company’s CEO stated that the Silk Road project will encourage small and medium businesses in Macau to take advantage of the new connectivity and expand their business relationships.
VIP Gamblers
VIP Gamblers from Mainland China are known for spending huge sums of money at the gambling tables and Macau Legend will look to take advantage of this market segment and tap its contact list. These VIP gamblers have shown that they are not opposed to traveling overseas especially to luxurious destinations that allow them to vacation, relax and indulge themselves at the gaming tables.

Tight Poker Staff

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Tight Poker Staff

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For nearly two decades, we’ve provided the best in class for poker site reviews, top online poker bonuses, strategy tips, poker news, and exclusive free poker content.  Consisting of a team of poker and gambling experts, we deliver the best online poker brand experience for players of all levels, from the fish to the sharks.
For nearly two decades, we’ve provided the best in class for poker site reviews, top online poker bonuses, strategy tips, poker news, and exclusive free poker content.  Consisting of a team of poker and gambling experts, we deliver the best online poker brand experience for players of all levels, from the fish to the sharks.