Is Macau’s casino market nearing saturation?

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With a number of casino expansion projects underway in Macau, investors are questioning whether the world's largest casino market is at risk of saturation.

Edward Tracy, president and CEO of Sands China, the Macau business arm of the Las Vegas Sands, says he's confident that there is plenty of demand left to absorb the additional capacity.

"If you look at supply and demand, the history in Macau is that every time supply was added demand went up," Tracy told CNBC's "Asia Squawk Box" on Tuesday.

The gambling enclave will see the opening of eight new resorts over the next three years, with the number of hotel rooms set to double from current levels by 2017, according to Reuters.

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Low penetration and improving accessibility to the gambling enclave will continue to drive visitation growth and demand for gambling, he said.

A series of bridges and tunnels that will connect Hong Kong, Macau and Zhuhai, three major cities on the Pearl River Delta, is currently under construction and due to open in 2016.

Macau welcomed 7.69 million tourists in the first three months of the year, up 8.7 percent on year. The number of mainland tourists rose 17.2 percent to 5.17 million.

Discussing the impact of Beijing's anti-graft crackdown on the gaming sector, Tracy said Sands China's focus on the mass market means its business has been unaffected.

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Macau is the only place in China where citizens can legally gamble in casinos. Casinos' private VIP gambling rooms have been known to attract high-rolling senior managers in state-run companies and government officials.

Brian Sytnyk | Photographer's Choice | Getty Images

"[The crackdown] hasn't impacted our business. We continue to show market leading growth in every segment including VIP," he said.

"Frankly, if you look at the number of graft cases against the total population – it's absolutely non-material. Given the fact that we emphasize the mass market, and there are over a billion people in that market, we're not too concerned about what happens in the political arena," he said.

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And, Sands China's latest earnings report reflects the company's robust position in the market

The company posted a 66 percent rise in net income in the first quarter as its resorts attracted more mass-market gamblers.

Shares in Hong Kong-listed Sands China have risen over 40 percent in the past 12 months.