Sands CEO says Las Vegas business is coming back
The casino billionaire said the meeting business in Las Vegas wasn't helped last year by government criticism of bankers who held meetings in the famed US gambling mecca. Still, "the weekends are coming back strong and I think by next year we'll probably be 80 percent of normal for the group business," Adelson told CNBC.
Gaming revenue rose 2.4 % on the Las Vegas Strip to us$ 467.1 million in March from a year earlier, even as gaming revenue overall for the state of Nevada slipped 0.7 % in the month to us$ 912.2 million, the state Gaming Control Board reported in May.
March was the second-straight month this year that gaming revenue increased on the Vegas Strip, where Sands operates the Palazzo and Venetian resorts. Las Vegas Sands also owns properties in Macau and opened a us$ 5.7 billion casino resort in Singapore in April. Adelson said business in Asia "never went down" as Vegas grappled with the recession.
Adelson also told CNBC his company would like to enter Japan, saying "there's a lot of conversation in Japan about legalizing gaming."
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