THE WORLD'S BIGGEST CASINO OPENS TODAY

The hard hats in Vegas better get busy...

The $2.4 billion Venetian Macao Resort, all set to open TODAY, has more floor space than four Empire State Buildings. That's alot of slots...

In all, the games of chance sprawl across a casino more than three times the size of the largest casino in Sin City. What's more, the 15,000-seat sports arena just about rivals Madison Square Garden, a huge convention center has a 6,000-seat banquet hall and the luxury shopping mall has three indoor canals with singing gondoliers; the Venetian in Las Vegas has just one.

Interestingly, the 3,000-suite resort is just the first of 14 hotels that will be interconnected and built by Las Vegas Sands Corporation (owner of both Venetians).

When finished, the ungodly large complex will include a St. Regis, a Shangri-la, a Raffles, a Conrad, an Intercontinental and a Sheraton -- ALL with their own casinos, bars and restaurants. The cost? Oh, about $10 billion or $12 billion give or take.

Already surpassing the U.S. in the manufacture of everything on the planet from cement and steel to DVD players and TVs, looks like China is on its way to establishing itself as THE global leader in the gaming industry.

And it's all cuz of those 'lil green backs.

When Sands Macao, the first American-operated casino, opened up shop in town roughly three years ago, first-year profits exceeded the total cost of the project.

Imagine that!

Also take in mind that Macao surged ahead of Las Vegas last year in total money gambled. AHEAD OF LAS VEGAS. That's alot of bucks being thrown around.

Experts predict, however, that while the gambling industry in Macao will undoubtebly continue to grow briskly, it may not expand as quickly as new casinos and hotels are set to open, resulting in narrower profit margins for the big American operators coming to Macao and for local companies as well.

Currently, Macao resembles Atlantic City — attracting mostly residents of nearby cities, who appear less than glamorous. The Venetian represents the territory’s biggest bet to transform itself into a Las Vegas-like attraction with customers from all over Asia and across the world. A Borgata if you will...

But will there be enough high-stakes visitors? Macao currently has 4,800 rooms in five-star hotels and another 4,000 in four-star hotels, but the Sands project alone will add 2,500 five-star rooms and 17,500 rooms in four-star hotels, including the four-star Venetian. Wynn Resorts opened a casino and hotel late last year and MGM Mirage will open a 600-room five-star hotel late this year.

Still, Macao’s average gambler is still a day-tripper from Hong Kong or nearby Chinese cities in the Pearl River delta. These visitors are so frugal that they often bring their own food and do not rent hotel rooms. By contrast, the average visitor to Las Vegas spends 3.4 days.