Saturday, October 24, 2020

Tag: Las Vegas Sands

Sands decision to pull out of IR race doesn’t bode well for Japan

casino resorts Japan IR
Steve Norton, chairman and CEO of Norton Management and a former casino executive holding senior roles at Sands, Gold River Gaming and Argosy Gaming among others, looks at some of the contradictions in the national attitude towards gambling and discusses what the country’s government could do to make its first tranche of licences more attractive for major international operators.

Sheldon Adelson: ‘I have never seen anything like it in over seventy years in business’

US Gaming Las Vegas Sands financial
The first major US gaming operator to report its Q1 results, Las Vegas Sands experienced a net loss of $51m for the quarter. Nevertheless, despite the uncertain economic panorama due to the coronavirus pandemic, the company’s management remains confident, highlighting the possibility of an Asia-led recovery and teasing M&A plans.

Las Vegas operators plan for reopening

Las Vegas strip
While debate continues over exactly when Nevada’s casino resorts will be able to open their doors once again, in the meantime, a number of major operators including Wynn, Sands, MGM and Caesars are in the process of putting in place new operating procedures and setting out social distancing measures.

Las Vegas Sands agrees $1.3bn sale of Pennsylvania casino

Sands Leven equity
Almost a year after a potential deal with MGM Resorts International fell apart, Las Vegas Sands has announced the sale of its Pennsylvania casino to an Indian tribe from Alabama for $1.3bn.   Sands Casino Resort Bethlehem opened in 2009 on the site of Bethlehem Steel’s former headquarters, transforming what was then the US’s largest abandoned industrial complex into an $800m...

Battle Royale: Execs in the ring over one of two IR licences

Casino Review - Japan Casino market IR licence battle royale
The race to secure one of only two IR licences to operate in the long-coveted Japanese casino market is heating up. With Sands, MGM Melco and Genting all professing to do whatever it takes, there will be some sore losers.   The largest casino operators on the planet are piling in with their claims on Japan’s fertile casino market - with...

LVS receives Marina Bay Sands licence renewal

Marina Bay Licence
The Las Vegas Sands Corporation’s Singapore venture, Marina Bay Sands, has been granted permission to operate in the city state for a further three years. Last month, an announcement from Singapore’s Casino Regulatory Authority (CRA) said that the licence to operate the integrated resort been renewed, effective April 26. The renewal process followed on from an assessment conducted by the regulator...

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