Tags: Las Vegas Sands
US – Apollo completes acquisition of The Venetian Las Vegas
The Venetian Las Vegas and The Venetian Expo announced that funds managed by affiliates of Apollo have completed their acquisition of the operations of The Venetian Resort from Las Vegas Sands Corp. The Venetian Resort, which offers one of the world’s most elevated resort experiences, is now a private company backed by the Apollo Funds….
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…
Kina – Fitch placerar Rating Watch Negative (RWN) på Las Vegas Sands och SJM Holdings
Fitch har satt betyget Rating Watch Negative (RWN) på Macaos kasinooperatörer Las Vegas Sands och SJM Holdings på grund av osäkerheten kring tidpunkten för förnyelse av licenser. Fitch sa: "RWN återspeglar den väsentliga regulatoriska osäkerheten på kort sikt relaterad till spelkoncessioner i Macau, vars 20-åriga period är inställd på att löpa ut den 26 juni ...
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…
