Sheldon Adelson’s casino company is in talks to sell its Las Vegas casinos to pay for its expansion in the Asian market.<\/p>\n\n\n\n\n\n\n\n
Macau.- Casino operator Las Vegas Sands has confirmed it is “in early talks” with an eye to selling its flagship Las Vegas venues the Venetian Resort Las Vegas, the Palazzo and the Sands Expo Convention Center for US$6bn.<\/p>\n\n\n\n
The company intends to focus on expansion in Asia and would use the funds raised for projects in Macau and Singapore.<\/p>\n\n\n\n
It looks increasingly like Las Vegas will struggle to make a recovery from the impact of the Covid-19 pandemic. In contrast, LVS’ Singapore operation, Marina Bay Sands, turned positive figures in the third quarter.<\/p>\n\n\n\n
LVS is to spend $3.3bn on a new luxury tower at the Singapore property. It is also spending $1.35bn to rebrand Sands Cotai Central as the Londoner.<\/p>\n\n\n\n
LVS owner Sheldon Adelson told his newspaper the Las Vegas Review-Journal: \u201cMacao has the potential to become one of the greatest business and leisure tourism destinations in the world. <\/p>\n\n\n\n
\u201cWe would welcome the opportunity to invest billions of digital investment dollars and extend our contributions to Macao\u2019s diversification and evolution into Asia\u2019s leading leisure and business tourism destination.\u201d<\/p>\n\n\n\n
Las Vegas Sands has reported an 82 per cent quarter-to-quarter drop in net revenue to US$586 million for the three months ending September 30, with some US$610 million\u00a0in operating losses.<\/p>\n","protected":false},"excerpt":{"rendered":"
Sheldon Adelson’s casino company is in talks to sell its Las Vegas casinos to pay for its expansion in the Asian market.<\/p>\n","protected":false},"author":2,"featured_media":11248,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Las Vegas Sands (LVS) is in advanced discussions to divest its Las Vegas properties, including The Venetian Resort and Sands Expo, for an estimated US$6 billion. This strategic move is intended to fund substantial expansion and development projects in high-growth Asian markets, specifically Macau and Singapore, signaling a significant pivot away from the COVID-19 impacted Las Vegas market. The company plans major investments in its Marina Bay Sands property and the rebranding of Sands Cotai Central.","focusai_entities":"Sheldon Adelson, Las Vegas Sands, The Venetian Resort Las Vegas, The Palazzo, Sands Expo Convention Center, Marina Bay Sands, Sands Cotai Central, The Londoner, Las Vegas Review-Journal","focusai_location":"Las Vegas, Macau, Singapore, Asia, United States","focusai_target_profile":"ceo_executive (1.0), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"LVS Asia Strategy?","query":"What are the specific long-term GGR and NGR growth projections LVS anticipates from its expanded Macau and Singapore operations, and how will this divestment impact its overall capital structure and debt covenants?"},{"label":"Las Vegas Market Impact?","query":"How will the potential sale of LVS's flagship Las Vegas assets reshape the competitive landscape and investor sentiment for other integrated resort operators in the Las Vegas market, particularly concerning recovery timelines and future M&A activity?"}],"footnotes":""},"categories":[160,28,161,158],"tags":[1642,257,169],"class_list":["post-11243","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-casino-news","category-daily-news","category-slider-home","tag-las-vegas-sands","tag-macau","tag-singapore"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11243","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=11243"}],"version-history":[{"count":5,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11243\/revisions"}],"predecessor-version":[{"id":11261,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11243\/revisions\/11261"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/11248"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=11243"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=11243"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=11243"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}