Gamblers bought US$144 million (HK$1.12 billion) worth of chips to play on the Sands' high-limit tables between October and December, more than triple the US$45 million bought there between July and September, said Brad Stone, executive vice-president of parent company Las Vegas Sands during a conference call with analysts.

``We expect this market to start showing meaningful increases in gaming volumes in the second half of this current quarter,'' he said. This is because the casino this month raised its commission rates to snare more big-time gamblers, as reported by The Standard last week.

Las Vegas Sands president and chief operating officer William Weidner said that already this year the Sands has linked up with four junket agents, adding to the two it partnered with at the end of last year.

High-stakes baccarat traditionally accounts for most of the revenue generated by Macau's casinos.

The Sands has entered the competition for high rollers gradually out of concern about disreputable junket agents who could affect Las Vegas Sands' standing with United States regulators.

Weidner said some high rollers avoided Macau during the Lunar New Year holiday to avoid crowds.

``Our traffic counts were the lowest we've ever seen in the first few days'' of the holiday, he said. ``Then we went from record low attendance to record high attendance in a matter of two days.''

Weidner said Las Vegas Sands had replaced Thuy Thinh with Frank McFadden as its senior executive in Macau late last year because the company wanted a ``more aggressive style'' of management and an executive with a wider spread of international experience and greater seniority to direct the move into the VIP market and the development of the company's next Macau projects.

Next up is the Venetian Macau casino resort, which Stone said should open in late March 2007.

He said reclamation work for the project, set for the new Cotai area between Taipa and Coloane islands, is complete.

Chief financial officer Scott Henry said the company is exploring raising funds for the US$1.8 billion project in Macau but does not expect to take out new loans until the end of the year.

Weidner said Macau has approved Las Vegas Sands' plans for the area around the Venetian, which it calls the Cotai Strip.

Firms interested in building resorts there that would house Las Vegas Sands-operated casinos have signed up for six sites. Weidner said the approved plan encompasses 11,500 hotel rooms.

Weidner also confirmed, as The Standard reported on Wednesday, that there are plans to expand Sands Macau, but dodged a question on details.

Stone said bettors at the Sands' public gaming tables actually bought US$45 million fewer chips in the fourth quarter of 2004, which Weidner implied may have been partly due to gamblers checking out newly opened casinos.

He is confident these gamblers will soon return.

``We'll see the market go into places like Greek Mythology, Golden Dragon, and a couple of the other conversions of ballrooms, lobbies, [and] broom closets,'' he said. ``The new places that have opened and the new capacity that's been added is inferior by a long shot to what it is that we have.''

zach.coleman@singtaonewscorp.com