Adelson marks anniversary of Venetian Macao

Since its opening, the mega-casino resort, the biggest in the world, has gotten some 24 million visitors and helped launch what Adelson envisions as a massive, concentrated resort area. Adelson is betting the Cotai Strip will become one of the world's top tourist destinations.

However, the American billionaire, whose company posted a second-quarter loss amid a weakening Las Vegas market, faces a host of challenges from slowing global growth to fierce competition from Wynn Resorts and others.

Adelson maintained Sands could fare well because of its focus on luring business travelers for conventions, exhibitions and other industry meetings held even during recessions.

"Our entire strategy avoids the possibility of an economic slowdown, a recession," Adelson told reporters at the Venetian Macao Hotel Resort.

He and other Sands executives also argued that possible stricter visa rules for mainland Chinese tourists, who make up of the majority of Macau visitors, would affect them less than their rivals. That's because company's Macau properties are less reliant on Chinese visitors than other casinos, they contended.

"The Cotai Strip is not just ... a series of integrated resorts for Chinese people only. It's for all Asians," Adelson said.

Earlier Thursday, he was on hand as Sands opened the upscale Four Seasons Macao, located next to the Venetian, the latest project in Adelson's $13 billion master plan to develop Cotai. The company currently has about 23 percent of the gambling market in Macau, with the Venetian taking in $2.18 billion in revenue during its first 12 months.

Adelson also is building a resort in Singapore and has his sights on other countries in Asia, which executives say will soon account for 70 percent or more of company revenue. On Thursday, Adelson said he had recently met with government officials in India.

"We would like to build a Cotai Strip in India. That would not affect Macau whatsoever. The market in India with more than 1.1 billion people will justify more than one Cotai Strip," Adelson said.