Tag: Las Vegas Sands

Las Vegas Sands executives affirmed the company’s properties in Macau and Singapore will drive its future, speaking during the firm’s Q2 earnings call, although they did not rule out pursuing new land-based venues in the US.

With online gaming and further expansion in Asia on the cards, Edward Lowton ponders the various possibilities for Sands as the company moves on to greener pastures following the $6.25bn sale of its Las Vegas properties.

Las Vegas Sands has set its sights on Dallas as the company lobbies for the legalisation of casinos in the Lone Star State. However, the firm could face an uphill climb, with lieutenant governor Dan Patrick stating that pro-gambling measures will not “see the light of day” this legislative session.

Part of Sands’ ongoing investment in Asia, The Londoner Macao, a $2bn redevelopment of Sands Cotai Central, is on track to launch in February. Meanwhile, over in the US, Sands is is looking at selling its Las Vegas assets.

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.

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.

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.

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...

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...

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...