Recovery is finally in sight for the world's largest casino hub, a welcome backdrop for the latest player to the Cotai Strip: The $2.7 billion Parisian Macau that opens Tuesday.
Consisting of 3000 rooms, hundreds of shops, a theatre, a water park and an Eiffel Tower replica, The Parisian is owned by Las Vegas Sands subsidiary Sands China and follows Wynn Palace's August debut and Studio City's launch last year.
Tuesday's opening coincides with a brighter outlook for the industry: Data two weeks ago showed August gambling revenues rose 1.1 percent on-year, the first increase since May 2014. But with the market just beginning to stabilize, is there enough appetite for another new casino?
"I see The Parisian performing within expectations, i.e. along with what the current market is doing. I don't see the project driving substantial new visitation to Macau beyond a potential short-term rise of about 10 percent in gross tourist visitor numbers to Macau," said Global Market Advisors' chief strategist Jonathan Galaviz.
Even now that the worst of Macau's downturn is over, companies operating in the market must do more to do in terms of creating unique entertainment options that go beyond just gambling, Galaviz continued.
China's slowing economy and its crackdown on conspicuous spending have drastically hit the amount of VIP spenders in the autonomous territory, piling on pressure for casino operators to diversify their businesses. Studio City, for example, boasts a roller-coaster, a 4D flight simulation Batman ride and the only Asian branch of world-famous nightclub Pacha.
The Parisian is covered in that regard, according to Grant Govertsen, founding partner of Union Gaming Group. Unlike Las Vegas, Macau consumers love themed entertainment so The Parisian's French theme is expected to appeal to mass market tourists, he explained.
"The Parisian should go a long way towards fulfilling the government's goal of more non-gaming revenue ... We think that Parisian will give consumers a reason to come back to Macau. Ultimately it will grow the gaming market and draw customers from further afield in mainland China."
Initially however, the Parisian's launch is expected to eat into the business of its parent firm Sands China, Govertsen warned.