NEW YORK (TheStreet) -- Macau, a special administrative region in China and well-known gambling hub, is modeling its marketing campaign on Las Vegas as it tries to attract a more "middle market" customer after the country's crackdown on corruption, Bloomberg Businessweek's Chris Palmeri said on BloombergTV's "Bloomberg Markets: Americas" on Tuesday afternoon.
Previously, wealthy high rollers were the only demographic that visited Macau to spend "incredible amounts" of money on Baccarat, a card game played at casinos, Palmeri said. But these types of people fled Macau after the Chinese government crack down because "the last thing they wanted was more conspicuous consumption."
"And so the whole city has had to adjust to a new type of customer," he explained.
Las Vegas is known for its entertainment, such as pirate battles and an erupting volcano, and now Macau is adding similar features, such as a Ferris Wheel built into a casino, an Eiffel Tower replica and a synchronized fountain show, Palmeri said. Macau is also adding more affordable stores such as H&M (HNNMY). "Basically Las Vegas is being replicated in Macau."
While Macau has recently seen a slight increase in visitors, it hasn't been noteworthy, he said. This could be a "slow build" to recovery for Macau.