Stanley Ho, Macau's casino mogul, has opened the new Grand Lisboa casino in the Chinese territory on Sunday.
The Grand Lisboa casino is the billionaire's latest effort to compete with the American casino tycoons that have taken over Macau since Ho lost his 40-year monopoly over the gaming industry in 2002.
According to analysts, however, Hos' company - Sociedade de Jogos de Macau – will keep losing market share in Macau, which has become the biggest gambling center in the world in 2006, leaving Las Vegas behind.
Despite the fact the Ho owns 17 casinos, which are about half of Macau's market share, the new projects, along with the existing casinos in the former Portuguese colony, are expected to take over the market.
Sometime in 2007, Sheldon Adelson, owner of Las Vegas Sands, one of the biggest casino operators in the world, plans to open his 3,000-suite Venetian Macao, which will be the largest hotel-casino in the world, on Macau's Cotai strip.
Adelson has said that when the Cotai Strip opens, most of the casinos on the peninsula — where Ho's Grand Lisboa is located — will be obsolete.
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