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Sands declines comment on report about Macau sale

Las Vegas (AP) -- Casino company Las Vegas Sands Corp. declined to comment Monday on a Hong Kong newspaper's report that Sands might sell the first foreign-owned casino in the Chinese island of Macau under a leaseback arrangement worth USD 1.3 billion.

28. April 2009

Las Vegas Sands says to resume Macau projects in 2009

Hong Kong (Reuters) - Las Vegas Sands said on Thursday it aims to resume construction of its stalled Macau projects by year-end with talks now ongoing with potential new investors to restart the half-finished Cotai strip projects. "We are certainly looking to resume in this calendar year, keeping in mind that when we suspended these works, we were only about nine months off from opening the first phase," Stephen Weaver, the firm's Asia President told reporters.

2. April 2009

Las Vegas Sands executive resigns

as Vegas Sands Executive Vice President Brad Stone, who was overseeing construction of the company's USD 5 billion Singapore resort, has resigned. Stone is the second top executive to leave the casino operator this month. Stone, who also held the title of president of global operations and construction, told the company's board of directors on March 18 he was leaving. Las Vegas Sands President Bill Weidner resigned earlier this month under pressure and was replaced by Michael Leven...

26. März 2009

Las Vegas Sands Denies Media Report It May Sell Macau License

March 12 (Bloomberg) -- Las Vegas Sands Corp., the casino operator controlled by billionaire Sheldon Adelson, denied a Hong Kong newspaper report that it may sell its gambling license in Macau. “We worked very hard to earn the concession and we have no intention of selling the license,” Las Vegas Sands spokesman Ron Reese said in a phone interview today.

13. März 2009

Weidner quits after ‚conflicts‘ with Adelson

Months of mostly behind-the-scenes feuding at Las Vegas Sands erupted into the open Monday with the gaming company announcing that President and Chief Operating Officer Bill Weidner was no longer with the company he has led for almost 14 years. Weidner, 63, had been feuding with Las Vegas Sands Chairman and CEO Sheldon Adelson over the company's falling fortunes since the fall.

11. März 2009

Sands CEO aims to avoid debt default

New York (Reuters) - Casino operator Las Vegas Sands expects to avoid a debt default through a combination of cost cuts, the sale of two retail malls and increased business in Macau, Chairman and Chief Executive Sheldon Adelson said on Tuesday. Without those actions, Sands, which operates the Palazzo and Venetian resorts on the Las Vegas Strip and has two casinos in the Chinese gambling enclave of Macau...

5. März 2009

Sands denied request to set aside Suen judgment

Las Vegas Sands Corp. lost a bid Monday to set aside a USD 58.6 million judgment that a Clark County jury awarded Hong Kong businessman Richard Suen following a six-week civil trial. Rusty Hardin, the Houston-based attorney for Las Vegas Sands, said after nearly four hours of arguments that the case would be appealed to the Nevada Supreme Court.

12. Dezember 2008

Las Vegas Sands said up to 11,000 Macau workers to lose jobs

Macau struggling casino operator Las Vegas Sands Corp. will lay off as many as 11,000 workers after a cash crunch forced the company to halt construction on multibillion dollar projects in the Chinese gambling city, a top executive said this week. About 2,000 of the construction workers are from Macau, and the remainder are from Hong Kong, mainland China and other countries, said Stephen Weaver, Sands’ president for Asia.

14. November 2008

Sands Storm: Las Vegas Giant in Trouble

The latest sign that Las Vegas bets are buckling under the tough economy? One of the strip's marquee casino operators is on the ropes. Las Vegas Sands Corp., the owner of the Venetian Hotel and Casino, has warned in a filing with the Securities and Exchange Commission that if it can't raise the money it needs to meet certain debt agreements, it could "raise a substantial doubt about our ability to continue as a going concern" -- or, in other words, to keep doing business.

13. November 2008

Singapore may step in to save new casino

Singapore's government may form a venture with CapitaLand Ltd to take over one of the island's two casino resorts if Las Vegas Sands Corp fails to stave off loan defaults, CIMB-GK Research Pte has said. Las Vegas Sands, the gaming company that said last week it may default on debt and face bankruptcy, reiterated last Saturday that it's committed to the USD 4 billion Singapore resort. The company has drawn down at least SGD 2 billion (USD 1.3 billion) from a SGD 5-billion credit facility by several banks for the project.

12. November 2008

Las Vegas Sands executives reiterate commitment to Marina Bay Sands development in Singapore

Las Vegas (AP) -- Las Vegas Sands Corp. said Friday that officials from the Singapore government and senior executives from the resort developer met to discuss the completion of the Marina Bay Sands resort in Singapore amid continued concern about tightness in the credit markets. Las Vegas Sands said discussions included construction and marketing efforts to bring more conventions and exhibitions to Singapore.

10. November 2008

Las Vegas Sands Plunges on Default, Bankruptcy Risk

(Bloomberg) -- Las Vegas Sands Corp., billionaire Sheldon Adelson's casino company, fell the most in New York trading since going public after saying it may default on debt and face bankruptcy. The casino owner, which had USD 8.8 billion in long-term debt at the end of June, said in a regulatory filing today that it probably won't meet the requirements of loans arranged by Citigroup Inc., Goldman Sachs Group Inc. and Lehman Brothers Holdings Inc. unless it cuts spending on developments...

7. November 2008
123
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