Las Vegas Sands: Difference between revisions
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'''Las Vegas Sands''' Corp. ({{nyse|LVS}}) is a [[casino]] resort company based in [[Las Vegas, Nevada]] and majority owned by one of the world's richest men, [[Sheldon Adelson]]. |
'''Las Vegas Sands''' Corp. ({{nyse|LVS}}) is a [[casino]] resort company based in [[Las Vegas, Nevada]] and majority owned by one of the world's richest men, [[Sheldon Adelson]]. |
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| ⚫ | Las Vegas Sands chairman [[Sheldon Adelson]], the world's sixth richest man,{{fact}} has said that his company will soon be a mainly Chinese enterprise, and quipped that [[Las Vegas, Nevada|Las Vegas]] should be called "America's Macau". The president and chief operating officer of Las Vegas Sands Corporation predicted on [[12 February]] [[2007]] that Macau has topped that of the [[Las Vegas Strip]] and will more than double again by 2010.<ref>{{cite web|url=http://www.reuters.com/article/HotelsandCasinos07/idUSN1244212420070213?src=021307_0722_INVESTING_reuters_hotels_and_casinos_summit|title=Sands sees Macau gambling doubling by 2010|accessdate = 2007-02-14|author=|publisher=Reuter|language=English }}</ref> |
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Las Vegas Sands corporate holdings include: |
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== Holdings == |
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*[[The Venetian]] in [[Las Vegas Strip|Las Vegas]] |
*[[The Venetian]] in [[Las Vegas Strip|Las Vegas]] |
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*[[Sands Macao]] a casino in [[Macau]], [[China]] |
*[[Sands Macao]] a casino in [[Macau]], [[China]] |
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*[[The Palazzo]] under construction in Las Vegas, with a planned opening in 2008 |
*[[The Palazzo]] under construction in Las Vegas, with a planned opening in 2008 |
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*[[The Venetian Macao]] in the [[Cotai Strip]] area of Macau, it opened on [[28 August]] 2007 |
*[[The Venetian Macao]] in the [[Cotai Strip]] area of Macau, it opened on [[28 August]] 2007 |
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*[[Sands BethWorks]] is expected to open in [[Bethlehem, Pennsylvania]] on July 2008 |
*[[Sands BethWorks]] casino is expected to open in [[Bethlehem, Pennsylvania]] on July 2008 |
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| ⚫ | Las Vegas Sands chairman [[Sheldon Adelson]], the world's sixth richest man, has said that his company will soon be a mainly Chinese enterprise, and quipped that [[Las Vegas, Nevada|Las Vegas]] should be called "America's Macau". The president and chief operating officer of Las Vegas Sands Corporation predicted on [[12 February]] [[2007]] that Macau has topped that of the [[Las Vegas Strip]] and will more than double again by 2010.<ref>{{cite web|url=http://www.reuters.com/article/HotelsandCasinos07/idUSN1244212420070213?src=021307_0722_INVESTING_reuters_hotels_and_casinos_summit|title=Sands sees Macau gambling doubling by 2010|accessdate = 2007-02-14|author=|publisher=Reuter|language=English }}</ref> |
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==Future== |
==Future== |
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*[http://forbes.com/2004/12/23/cz_pn_fortuneslide.html Forbes.com: Fortunes That Roared in 2004] |
*[http://forbes.com/2004/12/23/cz_pn_fortuneslide.html Forbes.com: Fortunes That Roared in 2004] |
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*[http://integratedresorts.com.sg/News_060527.html The Winner of Singapore Marina Bay IR] - Local Newspapers on [[27 May]] [[2006]] |
*[http://integratedresorts.com.sg/News_060527.html The Winner of Singapore Marina Bay IR] - Local Newspapers on [[27 May]] [[2006]] |
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[[Category:Gambling companies]] |
[[Category:Gambling companies]] |
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[[Category:Hospitality companies of the United States]] |
[[Category:Hospitality companies of the United States]] |
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Revision as of 06:32, 6 October 2007
| Company type | Public (NYSE: LVS) |
|---|---|
| Industry | Tourism Services |
| Founded | founded 1988 |
| Headquarters | Head office in Las Vegas, Nevada |
Key people | Sheldon G. Adelson (CEO & Chairman) William P. Weidner (President & CEO) |
| Products | Resort, Casino |
| Revenue | $1.74 Billion USD ( 27.5%) |
1,832,000,000 United States dollar (2022)  | |
Number of employees | 12 230 |
| Website | www.lasvegassands.com |
Las Vegas Sands Corp. (NYSE: LVS) is a casino resort company based in Las Vegas, Nevada and majority owned by one of the world's richest men, Sheldon Adelson.
Las Vegas Sands chairman Sheldon Adelson, the world's sixth richest man,[citation needed] has said that his company will soon be a mainly Chinese enterprise, and quipped that Las Vegas should be called "America's Macau". The president and chief operating officer of Las Vegas Sands Corporation predicted on 12 February 2007 that Macau has topped that of the Las Vegas Strip and will more than double again by 2010.[1]
History
The company was the owner and operator of the original Sands Hotel, which was demolished in 1996 to make room for The Venetian, which opened in 1999.
Holdings
- The Venetian in Las Vegas
- Sands Macao a casino in Macau, China
- The Marina Bay Sands in Singapore, with a planned opening in 2009
- Sands Expo and Convention Center in Las Vegas
- The Palazzo under construction in Las Vegas, with a planned opening in 2008
- The Venetian Macao in the Cotai Strip area of Macau, it opened on 28 August 2007
- Sands BethWorks casino is expected to open in Bethlehem, Pennsylvania on July 2008
Future
In September 2005, the company entered into an agreement with the city of Zhuhai, Guangdong, China to develop a 1,300 acre resort destination on Hengqin Island. In December 2006 the company received final approval to begin construction of the project.
On May 26, 2006, Las Vegas Sands was awarded the license to construct an "Integrated Resort" (casino resort), tentatively named The Marina Bay Sands, in Marina Bay, Singapore.
The company is currently constructing its trademarked Cotai Strip in the Cotai area of Macau. Las Vegas Sands' first casino in the Strip will be The Venetian Macao and opened on 28 August 2007.
Las Vegas Sands is currently in development stages of several resort areas around the world. The company is in building stages of The Palazzo which is scheduled to open in late 2007. The resort will have a luxury - Beverly Hillish - theme and be a robust 50 stories tall. The Palazzo and the Venetian will be connected providing a vast array of restaurants, gaming, shopping and poolside fun for all guests. The Palazzo will add 3,025 suites to the already 4,000+ suites offered by the Venetian. Furthermore, Las Vegas Sands has in building stages is The Venetian Macau, which will anchor their other properties under development along the Cotai Strip in Macau, China. The Venetian Macau adds to their other property in Macau - The Sands Macau - and the revenue expected to be produced by the Cotai strip has already surpassed the Las Vegas Strip, and many investors have already bought into the company's stock to reap the benefits of the potential of this gaming Mecca.
Moving on to the South of Asia, LVS is in preliminary development stages of a plot they were awarded in Singapore. Many gaming companies bid for the rights to build in this lucrative market and Las Vegas Sands came out on top and were awarded the rights to develop the land. The Resort is currently known as The Marina Bay Sands and is forecasted to open in 2009. This resort will be the first casino allowed in Singapore in the last 40 years.
Lastly, the las Vegas Sands has development plans for a resort on Hengqin Island, China, along with a gambling hall in Pennsylvania. Reports also indicate an interest in a new casino resort in Marlboro, MA.[2] There is also speculation that LVS has bids for places in Europe and this shows the vast array of development sites that Las Vegas Sands has proposed.
Sands Macao Hotel
On September 29, 2007, Las Vegas Sands Corp.'s Sheldon Adelson announced that it will open its 2nd hotel, the Sands Macao Hotel in Macau on October. Mark Brown, president of Sands Macao and the Venetian Macau Resort Hotel stated: "We are now uniquely positioned in Macao to offer all the integrated amenities necessary as a destination to attract a diverse range of multi-night visitors."[3]
Ownership and stock
Approximately 90% of LVS stock is held by company insiders, with CEO Sheldon Adelson presently owning approximately 65%. As of January 2007, the company's market capitalization was $36 billion.
Reference
- ^ "Sands sees Macau gambling doubling by 2010". Reuter. Retrieved 2007-02-14.
- ^ WBZ-TV News, 2007-08-02. http://wbztv.com/topstories/local_story_214102941.html
- ^ Yahoo.com, Second hotel to open in Macau