Las Vegas Sands seeks to amend Macau loans
The company has previously said it was considering an initial public offering of its Macau operations, which would require the approval of lenders. Sands has also said it would consider raising cash by selling stakes to private equity firms, getting construction companies involved in its projects to assemble their own financing, or issuing new debt.
Sands, which operates the Palazzo and Venetian resorts on the Las Vegas Strip, two casinos in the Chinese gambling enclave of Macau and one in Pennsylvania, is slated to open another gambling resort in Singapore early next year. Several other Macau projects have been put on hold as the company seeks to avoid violating debt covenants.
Reese declined to comment on a timeframe for the lender discussions, or the degree to which banks are being asked to relax covenant restrictions.
JP Morgan analyst Joe Greff said in a research note on Wednesday that lenders would reportedly receive a 50 basis point fee to approve the proposal, while pricing on the term loan would increase to Libor plus 275 bps from Libor plus 225 bps.
New York: Citi Field casino bid gains momentum as senator warns against Manhattan projects
Arizona: Casino Del Sol unveils name for new Tucson Grant Road property
Illinois: Waukegan's American Place opens new poker room
1xBet shortlisted for Best Casino Operator 2025 award at SiGMA Euro-Med
DraftKings could buy back $18 billion in stock over decade, Morningstar analyst says
Pragmatic Play partners with ApuestasX to expand reach in Latin America
Robinhood enters sports prediction markets with NFL and college football contracts
Latin America in focus: Why SBC Summit 2025 will be a game-changer for the region
Five startups to compete for €90,000 prize at SBC’s First Pitch competition
Former Liverpool and Leeds star Dominic Matteo to join Safe Bet Show at SBC Summit 2025
