Take a look at this:
Jiu Jian told me it was a casino. Turns out it is the new Sands Casino (I know, Colleen, competitor) that is opening today. According to the many advertisements I saw in the newspaper this morning, the opening concert includes Diana Ross and Jersey Boys. Also, there's a infinity pool in that top structure.
I took this photo out of the hotel window. Great view, eh? Oh, for you geography buffs out there, that's the South China Sea on the other side of the casino.
Here's one more photo from the street to give you more perspective: