Las Vegas Sands

Infobox_Company
company_name = Las Vegas Sands Corp.
company_
company_type = Public (nyse|LVS)
company_slogan =
foundation = 1988
location = Paradise, Nevada
key_people = Sheldon G. Adelson (CEO & Chairman)
William P. Weidner (President & CEO)
num_employees = 12,230
products = Resort, Casino
industry = Tourism Services
revenue = $1.74 Billion USD (profit 27.5%)
homepage = [http://www.lasvegassands.com 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.

History

Founded in 1988, the company was the owner and operator of the Sands Hotel, which was demolished in 1996 to make room for The Venetian, which opened in 1999.

In February 2008, the company announced that it has acquired two L-1011 aircraft which it plans to use to bring gamblers from Asia to its Las Vegas properties. The aircraft will be equipped with baccarat tables that can be played while over international waters using established lines of credit. According to gaming officials, the Nevada gaming tax will not apply to these wagers. [cite news |first=Howard |last=Stutz |authorlink= |coauthors= |title= LV Sands hopes gaming revenue will soar |url= http://www.lvrj.com/business/15474536.html |work= Las Vegas Review-Journal |publisher= |date= 2008-02-09 |accessdate=2008-02-09 ]

Properties

Past Properties

*The original Sands Hotel in Las Vegas - closed on June 30, 1996 and imploded on November 26 of the same year.
*Sands Atlantic City - filed for bankruptcy in 1998; sold to Carl Icahn in 2000, who in turn sold it to Pinnacle Entertainment in 2006. Closed on November 11 of the same year, and imploded on October 18, 2007.

Future

In September 2005, the company entered into an agreement with the city of Zhuhai, Guangdong, China to develop a convert|1300|acre|km2|sing=on 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 currentlyfact|date=February 2008 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. Las Vegas Sands has under construction 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 forecast 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. [cite news |first= |last= |authorlink= |coauthors= |title= WBZ-TV News |url=http://wbztv.com/topstories/local_story_214102941.html |work= WBZ-TV |publisher= |date= 2007-08-02 |accessdate=2007-08-02 ]

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.fact|date=February 2008

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 Macau to offer all the integrated amenities necessary as a destination to attract a diverse range of multi-night visitors"." [ [http://news.yahoo.com/s/ap_travel/20070928/ap_tr_ge/travel_brief_macau_las_vegas_sands;_ylt=AuAIHQWaiEyH1hnKPhKivcas0NUE Yahoo.com, Second hotel to open in Macau] ]

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.

References

External links

* [http://www.lasvegassands.com/ Corporate site]
* [http://biz.yahoo.com/ic/101/101286.html Yahoo! Las Vegas Sands company profile]
* [http://www.gstock.com/quote/lvs.html Las Vegas Sands stock performance chart] from Gstock
* [http://forbes.com/2004/12/23/cz_pn_fortuneslide.html Forbes.com: Fortunes That Roared in 2004]
* [http://integratedresorts.com.sg/News_060527.html The Winner of Singapore Marina Bay IR] - Local Newspapers on 27 May 2006