In this articleMGMLVSWYNNFollow your favorite stocksCREATE FREE ACCOUNTIf you blindfolded an American tourist and plopped them on the Cotai Strip in Macao, they might take one look at the Venetian hotel and the replica Eiffel Tower and assume they were in Las Vegas.Like Las Vegas, Macao — a special administrative region of China — is transforming itself with fresh entertainment, waterparks, spas, fine dining and sports.This week Las Vegas Sands is hosting two NBA games in Macao, a return for the basketball league after a six-year absence from China. The company’s president and chief operating officer, Patrick Dumont, owns the NBA’s Dallas Mavericks and was pivotal in engineering the league’s return.”I think it’s great for Macao, because it highlights really how great an entertainment city Macao truly is,” Dumont told CNBC in an interview. He highlighted the tens of billions of dollars invested to create a world-class destination for hospitality.”We’ve been operating here for 21 years, and we’ve invested $17 billion, so the amount of entertainment capacity here is really tremendous,” Dumont said. “For us, the NBA just highlights that.”The NBA games — between the Brooklyn Nets and Phoenix Suns, on Friday and Sunday — will be played at the Venetian Arena in Macao. Fans packed the same arena last month for an immersive K-pop concert by the group Twice.Big-name events draw the biggest spenders at the gaming tables, according to analysts at Citigroup, which last month raised its projection for 2025 gross gaming revenue in Macao to $33.3 billion. Those projections represent growth of 10% year over year, an acceleration in gaming revenue gains.For comparison, the state of Nevada booked a record $15.6 billion in gaming revenue in 2024, according to the American Gaming Association, citing Nevada Gaming Control Board.But the government of Macao is intent on diversifying its economy and moving beyond its reputation as the gambling capital of the world.When the six primary concessionaires, the companies that run licensed casino resorts in Macao, applied in 2022 to have those concessions renewed, the government extracted from them a commitment to invest nearly $15 billion over 10 years, with about 90% dedicated to non-gaming amenities.Wynn Resorts CEO Craig Billings said in an email to CNBC that the company’s concession-related investments are “focused on entertainment and, as we have seen in many markets including Macau, entertainment is a clear driver of visitation. And that visitation is from both gaming customers and non-gaming customers.”View of Macao, Macao.Contessa Brewer | CNBCAt Wynn Palace in Cotai, customers might snap selfies in front of an incredible collection of F1 race cars, ride a gondola over a Bellagio-esque fountain show, or dine at SW Steakhouse while catching a different theatrical show every 30 minutes. Wynn’s investment in food-court style dining belies the renowned cuisine represented from across China and around the world.Gaming executives across multiple companies say the demographics of visitors have changed since borders reopened after the pandemic. Younger gamblers, high-rollers and their spouses or children are enjoying increasingly inventive and diverse amusements.New amenitiesMGM Macau’s Tria spa, the result of a $7 million investment, surprises guests with a room devoted to real snowfall. And its immersive experience pool puts the guest in the middle of a virtual ocean as a violent thunderstorm approaches, with massive rain shower heads overhead sending water cascading down.MGM China President Kenneth Feng proudly showed off top-tier suites built to reward the best and most valuable players. He told CNBC his entire team is committed to offering modern uplifting design and superb s …
