MACUA — US casino mogul Sheldon Adelson opened his fifth resort in the Chinese gambling hub of Macau on Tuesday, as signs are emerging of a turnaround in the territory’s fortunes after two years of falling revenue have cast doubt on the wisdom of new developments.Sands China, a subsidiary of Adelson’s Las Vegas Sands, threw open the doors of the $3bn Parisian resort just three weeks after another tycoon, Steve Wynn, opened his latest pleasure palace in the former Portuguese colony.Some analysts questioned whether the semiautonomous territory on China’s southern tip, the only place in the country where gambling is legal, could cope with the new supply as gaming revenue plumbed five-year lows.Macau’s casino industry has been hit by China’s slowing economic growth, a campaign against demonstrations of wealth among public officials and a government push to wean Macau off gambling by promoting a more family-friendly image.But monthly gambling revenue grew for the first time in more than ...
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