As reported by: AOL
The new casinos popping up in Macau in the past three years have helped the Chinese territory surpass the Las Vegas Strip as the world's most lucrative gambling center.

This week, the city begins its most ambitious - and perhaps riskiest - phase of development with Tuesday's opening of the $2.4 billion Venetian Macao Resort Hotel. It's the latest megaproject from American billionaire Sheldon Adelson, chairman of Las Vegas Sands Corp.

The big bet is that Macau can be much more than a playground for day-tripping gamblers - mostly from China - who spend most of their time in the casinos.

Developers are hoping the tiny city on the southern Chinese coast will also be able to attract shoppers, conventioneers and tourists hungry for gourmet dinners, poolside sun-tanning and glitzy shows.

The Venetian Macao is the first megaresort that will try to bring in the new crowds of visitors willing to spend two or three days in the city.

Article By: AOL