GLOBAL CAPITAL - Betting on a Far East Vegas - The new, massive Venetian is part of the territory's bid to transform itself into a major entertainment hub.

For the next 24 hours, the pharmaceuticals trader from Shenzhen, China, was glued to a baccarat table, like thousands of other Chinese. Wu, 40, had no interest in strolling down the Venetian's mall under its faux blue sky, swimming in the six pools or riding in a gondola.

"I can ride a boat anywhere," he sniffed, plunking down another $75 bet on the table as Thursday turned into Friday.

Wu is the kind of visitor Macao has had for years: They come for a day or so and play nonstop and very hard. Unlike in Las Vegas, the casinos here take in a lot more action in private VIP salons, and gamblers generally don't mix alcohol and cards, preferring instead to drink water, tea or orange juice, served by a few low-key women who push carts.

But now, with the opening of the $2.4-billion Venetian -- and a slew of more American-style casinos and hotels on the way -- this peninsula on the southern tip of China is making a bid to transform itself into a mega resort, a la Las Vegas, with shows, clubs, fine dining and meetings galore.

"The Venetian Macao is the first step," said William P. Weidner, president and chief operating officer of Las Vegas Sands Corp., which built the Venetian Macao and the Venetian on the Vegas Strip in 1999, cementing Sin City's role as a magnet for conventions and an entertainment hub for more than just gamblers. "It's exactly the same strategy," he said.

Macao last year overtook Las Vegas in total gambling revenue, thanks to China's economic rise and passionate bettors like Wu. But although money from gambling makes up virtually all of Macao's tourist-related revenue, it makes up about half for Vegas, which has more than 130,000 hotel rooms versus about 17,000 in Macao.

"We want to have a healthier image that is tourism, not just gaming," said Bernadette Ozorio, administrative officer at the Institute for the Study of Commercial Gaming at the University of Macao.

The Venetian Macao's sports arena has 15,000 seats. In October, it will host an NBA game. The hotel's exhibition and meeting space comprises more than 1 million square feet, larger than the L.A. Convention Center. Managers say they have booked more than 40 regional meetings that will help fill rooms and boost revenue at restaurants and shops.