he firm said it received a letter from the Macau Land, Public Works and Transport Bureau that should clear the way for it to start selling shares to prospective buyers interested in owning a Four Seasons-branded apartment in Macau.
Macau is the only place in China where gambling is legal. The enclave's gambling business has remained relatively strong during the recession, helping casino operators like Las Vegas Sands, Wynn Resorts and MGM Resorts International offset some of their U.S. weakness.
Shares of Las Vegas Sands rose us$ 2.02, nearly 4.5 %, to us$ 47.40 in afternoon trading. Shares have traded between us$ 14.87 and us$ 47.47 in the past 52 weeks.