Las Vegas Sands, owner and operator of the Venetian, Grand Canal Shoppes and the Sands Macau, is planning to build a new $1bn (£544m) resort in Las Vegas.

The news follows a strong 2003 for the company, in which it saw its cash flow increase 20 per cent to $227.6m (£123.8m).

Its flagship resort, the Venetian, opened several new amenities during 2003, and added 1,013 suites to its capacity by opening the Venezia tower.

Now the Las Vegas-based company has shown interest in developing a resort, including 3,000 rooms, on the corner of the Strip and Sands Avenue, across from Wynn, in the city.

The Venetian has been hailed as one of the recent success stories of Las Vegas. Performing entertainers include daily shows by Michael Flatley’s Lord of the Dance. Details: www.venetian.com