• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Saturday 28 May 2022
  • 中文中文
  • 日本語日本語
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • Vietnam
  • Events
  • Consulting
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • Vietnam
  • Events
  • Consulting
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

Las Vegas Sands may increase stake in Sands China following sale of Las Vegas assets

Ben Blaschke by Ben Blaschke
Thu 22 Apr 2021 at 05:49
IAG spot count shows average 15 players on main gaming floors of 11 Macau IRs
40
SHARES
1k
VIEWS
Print Friendly, PDF & Email

Las Vegas Sands may use some of the proceeds from the recent sale of its Las Vegas assets to fund a further increase in its shareholding of Macau subsidiary Sands China Ltd.

The possibility was floated by LVS President and Chief Operating Officer Patrick Dumont during the company’s 1Q21 earnings call early Thursday morning (Asia time), with the company still assessing how best to deploy an impending US$6.25 billion windfall. LVS currently holds a 69.94% stake in Sands China.

“It’s definitely something that we think about and will consider over time,” Dumont said.

“From our standpoint, we still believe in the long-term future and success of Macau as a world-leading tourism destination and as Rob has said before we plan to invest more there in non-gaming.

“Where we’re at now is we don’t have the proceeds yet, we’re looking at the options and with a focus on returns. We’re looking at new developments, we’re looking at developing more in the markets that we’re in and I think [increasing our stake] will be something we think about.

“There is a lot of opportunity in front of the company. We’re staying patient, we’re looking at it all and we’re going to look at it through different lenses.

It’s not something I’m going to say we’ll do now, but it is something we will consider as we look across how to deploy capital.”

Dumont noted that under Hong Kong Stock Exchange rules, a minimum of 25% of shares are required to be held publicly although “there are exceptions.”

LVS announced in March that it had reached an agreement with two separate investment groups to sell its entire Las Vegas portfolio for US$6.25 billion.

Chairman and CEO Rob Goldstein said at the time that the sale would see LVS instead focus its resources on reinvestment in Asia and high growth opportunities in new markets.

RelatedPosts

Satellite casinos can rent out properties, rents not regulated by Gaming Law

Satellite casinos can rent out properties, rents not regulated by Gaming Law

Fri 27 May 2022 at 19:51
SJM operating entity announces name change

Daisy Ho: SJM confident of refinancing syndicated loans within weeks

Fri 27 May 2022 at 04:46
Macau hotel occupancy rate more subdued in January

Macau hotel occupancy rate drops to 29.5% in April

Thu 26 May 2022 at 18:20
Indictments issued in case against Alvin Chau and other suspects linked to former Macau junket Suncity

Indictments issued in case against Alvin Chau and other suspects linked to former Macau junket Suncity

Thu 26 May 2022 at 17:58
Load More
Tags: Las Vegas SandsMacauPatrick DumontRobert GoldsteinSands Chinashareholding
Share16Share3
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Oz Casinos: What now?

Editorial: Does the foreigner-only casino model work?

by Ben Blaschke
Thu 28 Apr 2022 at 15:28

The COVID-19 pandemic, along with the international border closures it forced, is one of a number of recent headwinds to...

Oz Casinos: What now?

Oz Casinos: What now?

by Ben Blaschke
Thu 28 Apr 2022 at 15:14

With three inquiries into Crown Resorts completed, a review into Star Entertainment Group underway and a litany of damning findings...

Off Track: AUSTRAC’s AML Failures

Off Track: AUSTRAC’s AML Failures

by Ben Blaschke
Thu 28 Apr 2022 at 13:16

Australia’s anti-money laundering watchdog has launched civil proceedings against Crown Resorts in what appears to be a reaction to its...

Locals Game

Locals Game

by Ben Blaschke
Thu 28 Apr 2022 at 13:05

IAG recently spoke with Shaun McCamley, former President at integrated resort The Grand Ho Tram Strip on Vietnam’s south-east coast,...

Related Posts

Macau shop owners describe best business in months as Golden Week visitor numbers surge

Macau GDP down 8.9% in the first quarter of this year, gaming down 25.1%

by Pierce Chan
Fri 27 May 2022 at 20:02

According to the Macau Statistics and Census Service (DSEC), Macau’s gross domestic product (GDP) fell by 8.9 percent in real terms in the first quarter of 2022, with “exports of gaming services” falling by 25.1 percent. This is the second...

Satellite casinos can rent out properties, rents not regulated by Gaming Law

Satellite casinos can rent out properties, rents not regulated by Gaming Law

by Andrew W Scott and Pierce Chan
Fri 27 May 2022 at 19:51

Today (Friday 27 May) the Second Standing Committee of the Legislative Assembly of Macau continued its discussions on the new Macau Gaming Law. On the issue of satellite casinos, Committee Chairman Andrew Chan Chak Mo revealed that landlord owners of...

SJM buys Oceanus from parent STDM, plans to return gaming area to Macau government after December 31

SJM buys Oceanus from parent STDM, plans to return gaming area to Macau government after December 31

by Andrew W Scott and Pierce Chan
Fri 27 May 2022 at 14:59

SJM Holdings has announced that it will acquire Oceanus from its parent company STDM and promised to return the Oceanus gaming area to the Macau government after the existing Macau casino gaming concessions expire on 31 December 2022. However, this...

Field of Dreams

Citizen’s group collects required signatures to call referendum on Osaka IR

by Shintaro Kamimura
Fri 27 May 2022 at 06:41

A private citizens group announced on Thursday 26 May that it had collected more than the number of signatures required to call for a referendum challenging Osaka’s IR bid.  Citizens groups opposing casinos spent two months from 25 March to...


HKUST

Simple Play

IAG

© 2005-2022
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • Contributors
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文
  • 日本語

No Result
View All Result
  • 中文
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Consulting
  • Magazines
  • Advertise
  • Contact
  • About
  • 中文
  • 日本語

© 2005-2022
Inside Asian Gaming.
All rights reserved.