
The Venetian Las Vegas is finally sold
Casino operator Las Vegas Sands Corp announced on Wednesday the completion of the US$6.25-billion sale of The Venetian Resort in Las Vegas, Nevada, in the United States.
Casino operator Las Vegas Sands Corp announced on Wednesday the completion of the US$6.25-billion sale of The Venetian Resort in Las Vegas, Nevada, in the United States.
Las Vegas Sands, the parent company of Macau gaming concessionaire Sands China, has confirmed it recently terminated agreements with at least three of the SAR’s largest junket operators.
In early March, Las Vegas Sands announced that it was selling its Las Vegas real estate and operations for $6.25 billion. That transaction, which is expected to close in the fourth quarter, was a major shift for a company whose late CEO, Sheldon Adelson, was a towering figure on the Las Vegas Strip.
MacDonald is understood to have already taken leave until his official end date in the coming weeks – bringing to an end a nearly decade-long tenure with the company.
Las Vegas Sands is the parent of Macau casino operator Sands China Ltd, and of Marina Bay Sands Pte Ltd, the operator of the Marina Bay Sands casino resort in Singapore.
US Casino Operator in Macau such as MGM Resorts International, Las Vegas Sands, and Wynn Resorts are now trying to figure out what is going to happen next.
Sands China is going to dive into the flames and launch its latest venue in the city. It had been expected that The Londoner would be coming to Cotai sometime in February
James Stewart serves as the Chief Executive Officer for MGM Growth Properties and he reportedly responded to a direct question concerning Las Vegas Sands Corporation by declaring that his company ‘would definitely be interested’ in acquiring the three Las Vegas venues.
Granted, the casino company’s Chinese operations have become more important to Las Vegas Sands as people in China and many parts of Asia find new options for their discretionary income. And the company has come to rely heavily on Macao for revenue growth, so concerns have risen about the financial effects of the virus creating a sell-off situation.
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