asino operators Las Vegas Sands Corp have hit harder times and are currently looking at an initial public offering of its Macau assets and sale of peripheral business, in a bid to raise us$ 3.5 to $4 billion. The company currently needs approximately us$ 2 billion to complete their latest hotel and casino project.
Las Vegas Sands Corp who also own the Sands casino resort in Macau and the Sands Casino resort Bethlehem in Pennsylvania, are also considering the sale of stores in the company’s Venetian resort in Macau, and condos and retail space in the neighboring four seasons property.
The move to a float on the HK market is proving a strong temptation with Steve Wynn also belived to be exploring the option, and MGM Mirage have been quoted as saying that although they need to improve their Macau numbers first they are certainly not ruling out an IPO.
Las Vegas Sands Corp have altered the Credit arrangement to include six quarters of covenant relief and the ability to both sell a minority interest of it’s Macau operations and also to issue senior secured or unsecured notes in Macau.
So LVS will go first as had been widely predicted. Sheldon Adelson has already announced that they have made headway on the Marina Bay Sands resort and Casino in Singapore, at the recent topping off for the three towers he stated that the complex would beging to open in phases during the first quarter of 2010. It is expected to have 1000 Hotel rooms, the main Casino, The MICE facility, restaurants and 50% of it’s retails space opened buy the end of February.