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Tag Archives: Las Vegas Sands

US – Apollo’s take over of Sands’ Las Vegas assets gets the green light

The Nevada Gaming Control Board has recommended the Nevada Gaming Commission approve the $6.25bn deal for Apollo Global Management to buy the Venetian, Palazzo, and the Venetian Convention and Expo Center from Las Vegas Sands Corp. The deal will see VICI Properties own the land and Apollo owning the operations with a lease deal on…

US – Sands loss in 2021 comes in at US$689m

Las Vegas Sands Corp. halved its loss last year, recording a loss of US$689m in 2021, compared to operating loss of $1.39bn in 2020, with revenues in the fourth quarter down 0.7 per cent on the quarter last year. “We remain confident in the eventual recovery in travel and tourism spending across our markets and…

US – New York casino attracts 30 proposals of interest

The chance to develop one of three casinos in New York City has attracted official interest from 30 companies or individuals with casino operators such as Wynn Resorts, Las Vegas Sands, Bally’s, Hard Rock, Rush Street Gaming and Okada Manila all putting bids in for a new casino. Existing casinos in the region have also put in…

China – Fitch places Rating Watch Negative (RWN) on Las Vegas Sands and SJM Holdings

Fitch has put a rating of Rating Watch Negative (RWN) on Macau casino operators Las Vegas Sands and SJM Holdings because of the uncertainty surrounding the timings of license re-renewals. Fitch said: “The RWN reflects the material near-term regulatory uncertainty related to gaming concessions in Macau, whose 20-year term is set to expire on 26 June…

China – Sands almost doubles Q3 earnings

Las Vegas Sands generated net revenue of $857m, compared to $446m in the prior year quarter. Operating loss was $316m, compared to $523m in the prior year quarter. Net loss from continuing operations inthe third quarter of 2021 was $594m, compared to $664m in the third quarter of 2020. Consolidated adjusted property EBITDA was $47m,…

China – Sands confident of returning to $5bn plus EBITDA from Asia

Despite positive adjusted property EBITDA in Macau and Singapore, Las Vegas Sands said it continued to be affected by pandemic-related travel restrictions and reduced visitation. For the quarter ended June 30, 2021, it generated net revenue of $1.17bn, compared to $62m in the prior year quarter. Operating loss was $139m, compared to $757m in the…

Japan – Sands rules out return to Japan casino race

Las Vegas sands has ruled itself out of potential return to the bidding process for a casino in Japan citing ‘too much uncertainty’ for its reluctance to revisit a project there. Sands pulled out of the dream of a Japanese integrated resort in May 2020, but some analysts believed that with the company offloading all…

US – Sands invests $17m into Florida casino ballot initiative

Las Vegas Sands Corp. has spent $17m in a fresh attempt to see commercial casino gaming introduced into Northern Florida, this time financing Florida Voters in Charge, a political committee that presented two proposed constitutional amendments. Voters In Charge is sponsoring a ballot initiative to give florida voters, not politicians, the exclusive right to approve…

US – Sands announces plan to invest in digital gaming

Las Vegas Sands is planning to make a strategic investment in digital gaming technologies focused primarily in the business-to-business space. As part of this effort, the company is building a digital gaming investment team, which will be led by Mr. Davis Catlin. Mr. Catlin is joining Sands after fourteen years with a leading investment firm….