Las Vegas Sands

No formal proposal from MBS on acquisition of land sites

US casino giant Las Vegas Sands may be keen to build more hotel rooms in Singapore, but the company has not made any formal proposal to authorities here. The world's biggest casino operator plans to add 1,500 rooms to its Marina Bay Sands integrated resort in Singapore, the firm's billionaire founder Sheldon Adelson said last week. A news report had quoted Mr Adelson as saying that Las Vegas Sands...

Billionaire Adelson seeks land to expand Marina Bay Sands

Las Vegas Sands has asked the Singapore authorities for more land to increase rooms at its Marina Bay Sands resort by about 60 per cent after facing almost full occupancy, billionaire Chairman Sheldon Adelson said yesterday. The world’s biggest casino operator plans to add 1,500 rooms to the 2,563-room resort, Mr Adelson said at a briefing here. It will also add meeting rooms, ballrooms and exhibition...

Las Vegas Sands seeking more land to expand MBS

Las Vegas Sands chief executive officer Sheldon Adelson said he is lobbying to get more land from the Singapore government to expand its profitable integrated resort in Singapore. Mr Adelson told reporters at the opening of the Marina Bay Sands (MBS) that the meetings, incentives, conventions and exhibition (MICE) business has been overwhelming and more land space would be needed. "Otherwise we may have...

Marina Bay Sands integrated resort to open in phases from Apr 27

Las Vegas Sands said it plans to open the first phase of its US$5.5 billion Marina Bay Sands development on 27 April 2010. Sheldon Adelson, chairman and chief executive officer of Las Vegas Sands, said the integrated resort will immediately go to work by hosting its first event - the Inter-Pacific Bar Association's annual conference - just days after opening its doors. The second phase will open on June...

Las Vegas Sands says doubts removed

Las Vegas Sands said yesterday that doubts about its ability to continue as a going concern have been removed after the completion of an offering of common stock, preferred stock and warrants provided about US$2.1 billion ($3.1 billion) of additional capital. The Las Vegas-based casino operator’s independent accountants, PricewaterhouseCoopers, said in a filing with the Securities and Exchange...

Singapore government will not bail out Las Vegas Sands

The Singapore government said Wednesday it will not bail out the troubled US gaming firm Las Vegas Sands should it fail to fund the Marina Bay integrated resort. Senior Minister of State for Trade and Industry S Iswaran, speaking on the sidelines of an industry conference, said there has been no request from Sands for a bailout so far. Sands has been working to avoid defaulting on bank covenants and...

Sands puts Marina Bay project first

LAS Vegas Sands is to halt work on developments in Macau, where it earns two-thirds of its revenue, to focus on the US$4-billion ($6-billion) integrated resort project at Marina Bay, executives said. The casinos and resorts company run by billionaire Sheldon Adelson said it is managing to raise a further US$2.14 billion in capital following a third-quarter loss. The United States-based company expects...

Las Vegas Sands secures US$2b capital funding, remains committed to S’pore project

Las Vegas Sands said Tuesday it has secured over US$2 billion in capital funding commitments to avoid violating loan agreements. President and Chief Operating Officer William Weidner said in a conference call that Sands expects to close the transaction by the end of the week. He continued to say that however, there will be some changes to Sands' overseas resort developments. It will stop construction...

CapitaLand has not held talks with Las Vegas Sands over Marina IR

Property developer CapitaLand said it has not held any talks with Las Vegas Sands over the integrated resort at Marina Bay. The comment follows market talk that CapitaLand may step in to take a stake in the resort, given financial difficulties at Sands. In its statement, CapitaLand said it is watching the current global environment and studying opportunities related to distressed companies or assets in...

Marina Bay Sands – too big to let fail?

IN RECENT weeks, its top executives have been going around the region to raise funds - to stave off defaulting on its loans, a risk it admitted on Thursday amid doubt about the casino giant’s viability. As Las Vegas Sands’ (LVS) troubles fed whispers about the fate of its US$4.2-billion($6.3 billion) Marina Bay project here, chairman and chief executive Sheldon Adelson this week met with the Singapore...

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