Billionaire Adelson’s Las Vegas Sands mulls US$6 billion sale of US casinos to focus on Macau, Singapore markets
- Casino operator confirms early discussions about sale of Venetian Resort, the Palazzo and Sands Expo Convention Centre
- Sale will leave Adelson with assets in Macau and Singapore, which contributed 63 per cent and 22 per cent each to revenue in 2019
The world’s largest casino operator is working with an adviser to solicit interest for the Venetian Resort Las Vegas, the Palazzo and the Sands Expo Convention Centre, which together may fetch US$6 billion or more, said the people, who asked to not be identified because the talks are private. The properties are all connected along the city’s gambling strip.
A representative for Las Vegas Sands confirmed it was in very early discussions about a sale and that nothing has been finalised.
The money could allow the company fund other development opportunities. Sands dropped out of the competition to build a casino in Japan earlier this year due to terms executives described as unfavourable.
Adelson, 87, has expressed interest in building in New York City, an opportunity that could arise next year.