Las Vegas Sands owns three operating casino resorts in Macau--the Venetian Macao, the Sands Macao and the Plaza. Sands Macau opened in 2004, followed by the Venetian Macau in 2007 and then the Plaza in 2008. It also owns CotaiArena, Macau's largest entertainment venue and one of the largest convention and exhibition halls in Asia, and one of three major high-speed ferry companies operating between Hong Kong and Macau.

The company's next phase of development is parcels five and six, for which it plans a 13-million-square-foot, US$4.3-billion integrated resort that would be completed in three phases, the first phase of which is partially completed. After that, it would develop one of the three remaining parcels with an additional 3,900 branded hotel rooms, and then it would develop the final two parcels with a project similar size and scope to the integrated resort located on parcels five and six.

"Our ultimate plans for Cotai include five interconnected integrated resorts, which leverage a wide range of branded hotel and resort offerings to attract different segments of the market," the company stated last week in a filing with the Hong Kong stock exchange in advance of the IPO for its Macau operations, which it recently spun off into a wholly owned subsidiary. "When complete, we expect our Cotai Strip development to contain over 20,000 hotel rooms, approximately 1.6 million square feet of meeting, convention and exhibition space, over two million square feet of retail malls, six theaters and other amenities."