International edition
June 18, 2021

According to its Chairman

Las Vegas Sands to change its name for an international focus

(Macau).- Las Vegas Sands Corp. plans to change its name to Sands International or Sands Resort International, according to Chairman Sheldon Adelson. The change may happen at the next board meeting "to reflect more that we're not just in Las Vegas," said Adelson.

"

We have independent directors here in Hong Kong and believe me, they are independent. And they speak their mind and I'm very glad they do," he said at the CLSA Investors' Conference in Hong Kong this week, adding that he is chairman of both boards.

Adelson said Las Vegas Sands wasn't attempting to siphon revenue from its Macau unit, whose record-high second-quarter profit helped Las Vegas Sands swing to a profit in the three months ended June 30.

Sands China operates three casinos in Macau including its flagship Venetian Macao, while Las Vegas Sands mainly operates casinos in the U.S., apart from the US$5.5 billion Marina Bay Sands casino resort in Singapore.

"I want Sands China to be as successful as Las Vegas Sands is," he said. "No bank or any investor has ever complained that I've cannibalized, that I've shifted profits from one to the other."

Adelson said he was open to Las Vegas Sands teaming up with Sands China to capitalize on future expansion opportunities in Asia, but didn't clarify if a partnership in Japan, where he said the company could open two huge casino resorts if the government legalizes gaming there, would be a possibility.

Las Vegas Sands will change its name to Sands International or Sands Resort International at its next board meeting "to reflect more that we're not just in Las Vegas," he said.

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