• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

LVS agrees US$1.3bln sale of Sands Bethlehem

Mar 09, 2018 Newsdesk Latest News, Top of the deck, World  


LVS agrees US$1.3bln sale of Sands Bethlehem

Casino operator and developer Las Vegas Sands Corp has agreed to sell its Sands Bethlehem property (pictured) in Pennsylvania in the United States, to a firm linked to a Native American tribe, for a total value of US$1.3 billion.

Las Vegas Sands said in a Thursday filing to Nasdaq that the deal – with an affiliate of the Poarch Band of Creek Indians of Alabama – was subject to regulatory review and other customary conditions.

The “proceeds will enhance liquidity as [Las Vegas] Sands pursues new development opportunities and returns capital to shareholders,” said the casino firm’s filing.

Las Vegas Sands is pursuing a casino licence in Japan, and has also pledged to spend US$1.1 billion over the next three years to revamp its Macau casino properties. Las Vegas Sands is the parent of Macau operator Sands China Ltd.

Thursday’s filing indirectly quoted Patrick Dumont, the parent group’s  executive vice president and chief financial officer, saying that deployment of the capital raised from the disposal “would be consistent with the company’s long-held strategic direction”.

The group had been mulling disposal of Sands Bethlehem for some time. In the spring of 2017, talks about a possible sale to fellow U.S.-based casino operator MGM Resorts International ended without a deal.

The property, located on the site of a former industrial works, opened to customers in 2009.


  • tweet
Related articles
  • Hainan maybe risk to Hengqin not to Macau: Bernstein
    Hainan maybe risk to Hengqin not to...

    Apr 17, 2018  

  • Macau casino 1Q property EBITDA likely up 26pct: MS
    Macau casino 1Q property EBITDA likely...

    Apr 09, 2018  

More news
  • Macau police detain one local over crypto coin launch
    Macau police detain one local over...

    Apr 20, 2018  

  • Singapore govt touts gaming oversight consolidation
    Singapore govt touts gaming oversight...

    Apr 20, 2018  


Latest News

Macau police detain one local over crypto coin launch

Macau police detain one local over crypto coin launch

Apr 20, 2018  

Macau’s Judiciary Police said on Friday that a male Macau resident had been detained for alleged involvement in giving false information designed to attract public subscribers to a cryptocurrency...
Read More
Singapore govt touts gaming oversight consolidation

Singapore govt touts gaming oversight consolidation

Apr 20, 2018  

Plenty of likely suitors for Wynn Macau Ltd: Telsey

Plenty of likely suitors for Wynn Macau Ltd: Telsey

Apr 20, 2018  

Slideshow

Macau casinos celebrate Chinese New Year

Interviews

  • BMM prepped for Macau EGM regulation update: White
    BMM prepped for Macau EGM regulation update: White

    Jan 04, 2018  

    BMM Testlabs “ticks all the boxes” with regard to its...
  • Japan, Cambodia, Vietnam casino biz to watch: Klebanow
    Japan, Cambodia, Vietnam casino biz to watch: Klebanow

    Dec 08, 2017  

    The regulated casino industry is well versed in dealing...
  • Cloud services, e-Sports highlights of MGS 2017: Chun
    Cloud services, e-Sports highlights of MGS 2017: Chun

    Oct 23, 2017  

    The presence of some of the leading cloud computing...
  • Crunch time for Tokyo casino option: Caesars exec
    Crunch time for Tokyo casino option: Caesars exec

    Jul 11, 2017  

    The Tokyo local election setback for Japan’s governing...
  • Suncity bets on Vietnam, resurgent Macau VIP: Andrew Lo
    Suncity bets on Vietnam, resurgent Macau VIP: Andrew Lo

    Jul 06, 2017  

    A multibillion U.S. dollar casino project on Vietnam’s...

Pick of the Day

”We do not believe that reopening the advance notice nomination deadline [for board directors] is appropriate or justified”

Daniel Boone Wayson

Chairman of the Wynn Resorts board of directors



Most Popular

  • Plenty of likely suitors for Wynn Macau Ltd: TelseyPlenty of likely suitors for Wynn Macau Ltd: Telsey April 20, 2018
  • Boracay casino scheme officially intact: PagcorBoracay casino scheme officially intact: Pagcor April 20, 2018
  • Wynn Resorts rejects Elaine Wynn fresh board pick planWynn Resorts rejects Elaine Wynn fresh board pick plan April 20, 2018

Copyright 2017 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us