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Tag Archives: Las Vegas Sands

US – Sands tops out its EBIDTA as revenue remains well down

Las Vegas Sands beat analyst consensus on EBIDTA as it delivered net revenue of $1.2bn, a decrease of 15.6 per cent from the prior year quarter, for the quarter ended March 31, 2021. “We couldn’t be more enthusiastic about the opportunity to welcome more guests back to our properties as greater volumes of visitors are…

US – Sands launches multi-million dollar ad campaign to bring casinos to Texas

Las Vegas Sands will launch a multimillion-dollar advertising campaign to promote its aim of opening a casino in Texas with a series of TV and radio ads. Sands is financing the campaign under the banner of its new Texas Destination Resort Alliance, which has unveiled a website. The first half-minute ad to launch informed Texans…

Asia – Las Vegas Sands eyeing Asian opportunities following Venetian sale

Las Vegas Sands has confirmed that it has its eyes fixed firmly on expansion in Asia following the sale of its assets in its domestic market. Speaking during J.P. Morgan’s Gaming, Lodging, Restaurant & Leisure Management Access Forum, and reported by Inside Asian Gaming, Chairman and CEO Rob Goldstein said: “Las Vegas was a small…

US – Caesars and Apollo to buy Sands’ entire Las Vegas retail estate and gaming portfolio

Caesars Entertainment and Apollo Global Management are partnering to buy Las Vegas Sands’ entire Las Vegas real property portfolio and its gaming operations, including The Venetian Resort Las Vegas and the Sands Expo and Convention Center for $6.25bn. Caesars’ offshoot VICI Properties real estate and real estate-related assets of The Venetian for approximately $4bn in…

US – Sands says a casino being developed in Texas is ‘inevitable’

Las Vegas Sands has said the Dallas-Fort Worth area would be its preferred location for a casino resort in Texas, adding that legalising casinos in the the Lone Star State is ‘inevitable.’ The Dallas Morning News quoted Andy Abboud, Senior Vice President of government affairs for Las Vegas Sands, as saying: “We’ll look at the…

China – Sands not concerned over Macau licence renewal speculation

With Macau’s casino licences up for renewal, executives at Sands China do not believe China’s Central Government in Beijing will use it as an opportunity to get mainland Chinese companies involved with casino operations. Wilfred Wong, President and Executive Director of Sands China, said: “We have not picked up any nor have we been consulted…

US – Sands big ups Las Vegas’ bounce back as well as Texas and New York opportunities

Whilst delivering better than expected fourth quarter results, the new management team at Las Vegas Sands was keen to highlight Las Vegas’ ability to bounce back from the pandemic as well as potential new opportunities in New York and Texas. The operator fared slightly better than expected in the last quarter of 2020 with net…

US – Sands names Rob Goldstein as its new Chairman with Patrick Dumont promoted to President

Las Vegas Sands has named long-time company executive Robert Goldstein as its new Chairman and Chief Executive Officer, having previously assumed the role as acting Chairman and CEO on January 7, 2021. Patrick Dumont has been named President and CEO, and Randy Hyzak will now serve as Chief Financial Officer. Mr. Dumont previously served as…

China – Macau licence renewal could prompt Sands China share sale

Smartkarma’s Howard J Klein believes the renewal process for Macau’s casino licences in 2022 could see the Adelson family to sell some of its shareholding in Sands China. “An orderly disposition of the huge chunk of assets would fall within the shadow timing of the Macau re-concession talks scheduled to begin in 2022, or 2023,”…