Las Vegas Sands is a US casino group, with resorts in the United States and Asia, including two luxury resorts on the Las Vegas Strip. In Asia, it owns the Marina Bay Sands in California, and several properties in Macau. Sands China’s assets include The Venetian Macao, Sands Macao and The Plaza Macao.
The extension gives Macau’s legislature time to pass a new gambling law to regulate the world’s most lucrative casino enclave, after the biggest overhaul of betting regulations in two decades in January.
Sands said on Wednesday that Asia is where the company’s focus will remain. “Asia remains the backbone of this company and our developments in Macau and Singapore are the centre of our attention,” said Chairman and CEO Robert Goldstein.
Las Vegas Sands is exploring the sale of its casinos in Las Vegas, a move that would mark billionaire Adelson’s exit from the US gambling industry.
The casino, owned by Sheldon Adelson’s Las Vegas Sands Corporation, has hired a top Singapore law firm to look into employee transfers of over US$1 billion.
The popular social messaging app is a critical communication tool for American operators in the city and their patrons in mainland China.
The coronavirus outbreak has been mostly contained in Macau as well as in neighbouring Hong Kong and mainland China, but restrictions on travel make it almost impossible for tourists and high rollers to show up to place their bets.
The hall-of-famer, in Macau to lead a coaching workshop, was known for his bad diet during the most successful years of his career and hopes to turn around a poor spell of form in Shanghai next week.
Sands China last week unveiled plans to upgrade the 1,200-room Holiday Inn at Sands Cotai Central in Macau, rebranding it as The Londoner, a destination resort in line with its other European city-based brands, The Venetian and The Parisian.
Macau’s biggest casino operator Sands China has announced that president and chief executive Edward Tracy will retire on March 6.
Sands China, the Macau casino operator controlled by Sheldon Adelson, posted a 50 per cent gain in first-quarter profit as its resorts drew more mass-market gamblers in the world's biggest casino market.
Las Vegas Sands is increasing its scrutiny of Macau junket operators in a move that may lead to a shake-out among the middlemen who account for two-thirds of the betting in the world's largest gambling market, a person familiar with the matter said.
Las Vegas Sands, the casino company controlled by billionaire Sheldon Adelson, has abandoned a plan to build a mega resort in Spain for more than US$30 billion and will focus on Asia instead.
A Nevada judge on Tuesday denied Las Vegas Sands’ request to throw out a jury verdict awarding former consultant Richard Suen of Hong Kong US$70 million in a breach-of-contract case.
Las Vegas Sands' success continued in Macau, helping it more than double its net income in the second quarter. But growth was tepid in Las Vegas, and Wall Street expected stronger results overall.
Sands, in a filing on Friday in Nevada state court in Las Vegas, argued that the jury awarded the damages for services rendered to Round Square, Richard Suen's company, rather than to Suen himself.
Hong Kong businessman Richard Suen Chi-tat has been awarded US$70 million by a jury in the United States for his help in obtaining a Macau casino licence for Las Vegas Sands more than a decade ago.
A lawyer for Las Vegas Sands Corporation said the Chinese government had no part in the awarding of gaming licences in Macau for the casino operator controlled by billionaire Sheldon Adelson more than 10 years ago.
Revenue in the world's largest gaming hub reached 28.3 billion patacas, the second-highest monthly figure this year, after the record 31.3 billion patacas in March.
Las Vegas Sands' chairman Sheldon Adelson has told a jury a Hong Kong businessman who seeks US$328 million over claims he helped the casino operator get a Macau gaming licence could not deliver what he promised.
Las Vegas Sands owes a middleman for its gaming licence in Macau, which the casino operator's founder and chairman Sheldon Adelson called the "brass ring in the merry-go-round", according to a lawyer for Hong Kong businessman Richard Suen.
Las Vegas Sands' interests in Macau enter the spotlight as a trial begins in Nevada.