SANDS casino up for sale!!!!!!

[newyorker88]

What is the fate of SINGAPORE CASINO SANDS?

Up for sale sooner or later?





Macau Sands casino reportedly up for sale
Posted: 27 April 2009 1355 hrs


Photos 1 of 1

Aerial view of the construction site of Las Vegas Sands Corp. on the Cotai strip in Macau. (file pic)



HONG KONG: Las Vegas Sands is considering selling one of its Macau casinos, a report said on Monday, as revenues plummet in the world's biggest gaming market.

It plans to put the Sands Macao up for about 1.3 billion US dollars after failing to sell its luxury shopping centres in the southern Chinese territory, the South China Morning Post said without naming sources.

The report said Las Vegas Sands was considering selling the building and continuing to run the 229,000 square foot (21,274 square metres) casino while paying the new landlord rent based on performance.

Talks kicked off last week, the daily said, as the company could not find a buyer for the shopping centres attached to the Venetian and Four Seasons resorts because the one billion dollar asking price was considered too high.

"It was kind of, 'OK then, if you don't want the malls, do you want the Sands?'" an unnamed source was quoted as saying. It said the source confirmed the company's gaming licence was not up for sale.

A spokesman for the US-based company declined to comment on a potential sale of the Sands Macao, the territory's first foreign-owned casino, the paper said.

The Sands Macao opened in 2004 and the company made back its initial 285-billion-dollar investment in 12 months, the newspaper said, as gamers poured into the city.

However, Las Vegas Sands was in November forced to fire up to 11,000 mainly construction staff as it halted work at a new 3.3 billion US dollar, 6,400 room resort close to the Venetian.

The firm blamed a freezing of the global credit markets for the delay.

Macau has become a gambling paradise, with massive casinos springing up over the past few years, helping the city overtake the Las Vegas Strip in terms of revenue.

But income has been battered as gamblers tighten their belts amid the global slowdown, while visa restrictions placed by Beijing on Chinese visitors have also hit revenues.

Macau's casinos suffered a dismal second half of 2008, although the first three months of this year saw income rise for the first time in three quarters.


- AFP/so

 

[Hope]

What is the fate of SINGAPORE CASINO SANDS?

Up for sale sooner or later?





Macau Sands casino reportedly up for sale
Posted: 27 April 2009 1355 hrs


Photos 1 of 1

Aerial view of the construction site of Las Vegas Sands Corp. on the Cotai strip in Macau. (file pic)



HONG KONG: Las Vegas Sands is considering selling one of its Macau casinos, a report said on Monday, as revenues plummet in the world's biggest gaming market.

It plans to put the Sands Macao up for about 1.3 billion US dollars after failing to sell its luxury shopping centres in the southern Chinese territory, the South China Morning Post said without naming sources.

The report said Las Vegas Sands was considering selling the building and continuing to run the 229,000 square foot (21,274 square metres) casino while paying the new landlord rent based on performance.

Talks kicked off last week, the daily said, as the company could not find a buyer for the shopping centres attached to the Venetian and Four Seasons resorts because the one billion dollar asking price was considered too high.

"It was kind of, 'OK then, if you don't want the malls, do you want the Sands?'" an unnamed source was quoted as saying. It said the source confirmed the company's gaming licence was not up for sale.

A spokesman for the US-based company declined to comment on a potential sale of the Sands Macao, the territory's first foreign-owned casino, the paper said.

The Sands Macao opened in 2004 and the company made back its initial 285-billion-dollar investment in 12 months, the newspaper said, as gamers poured into the city.

However, Las Vegas Sands was in November forced to fire up to 11,000 mainly construction staff as it halted work at a new 3.3 billion US dollar, 6,400 room resort close to the Venetian.

The firm blamed a freezing of the global credit markets for the delay.

Macau has become a gambling paradise, with massive casinos springing up over the past few years, helping the city overtake the Las Vegas Strip in terms of revenue.

But income has been battered as gamblers tighten their belts amid the global slowdown, while visa restrictions placed by Beijing on Chinese visitors have also hit revenues.

Macau's casinos suffered a dismal second half of 2008, although the first three months of this year saw income rise for the first time in three quarters.


- AFP/so

Sands has to sell and get some capital back.He is out of cash.

He is betting on Singapore which would be a complete failure,pity such a smart biz tycoon also kena conned by MM Lee KY.

I have no sympathy for him,he should be bankrupt as he has a bloated ego,same as MM Lee,except he knows not that MM Lee never puts his own money to risk.

 

[aakumu]

What is the fate of SINGAPORE CASINO SANDS?

Up for sale sooner or later?





Macau Sands casino reportedly up for sale
Posted: 27 April 2009 1355 hrs


Photos 1 of 1

Aerial view of the construction site of Las Vegas Sands Corp. on the Cotai strip in Macau. (file pic)



HONG KONG: Las Vegas Sands is considering selling one of its Macau casinos, a report said on Monday, as revenues plummet in the world's biggest gaming market.

It plans to put the Sands Macao up for about 1.3 billion US dollars after failing to sell its luxury shopping centres in the southern Chinese territory, the South China Morning Post said without naming sources.

The report said Las Vegas Sands was considering selling the building and continuing to run the 229,000 square foot (21,274 square metres) casino while paying the new landlord rent based on performance.

Talks kicked off last week, the daily said, as the company could not find a buyer for the shopping centres attached to the Venetian and Four Seasons resorts because the one billion dollar asking price was considered too high.

"It was kind of, 'OK then, if you don't want the malls, do you want the Sands?'" an unnamed source was quoted as saying. It said the source confirmed the company's gaming licence was not up for sale.

A spokesman for the US-based company declined to comment on a potential sale of the Sands Macao, the territory's first foreign-owned casino, the paper said.

The Sands Macao opened in 2004 and the company made back its initial 285-billion-dollar investment in 12 months, the newspaper said, as gamers poured into the city.

However, Las Vegas Sands was in November forced to fire up to 11,000 mainly construction staff as it halted work at a new 3.3 billion US dollar, 6,400 room resort close to the Venetian.

The firm blamed a freezing of the global credit markets for the delay.

Macau has become a gambling paradise, with massive casinos springing up over the past few years, helping the city overtake the Las Vegas Strip in terms of revenue.

But income has been battered as gamblers tighten their belts amid the global slowdown, while visa restrictions placed by Beijing on Chinese visitors have also hit revenues.

Macau's casinos suffered a dismal second half of 2008, although the first three months of this year saw income rise for the first time in three quarters.


- AFP/so

Hi bro,
I think that the Singapore casino will fair better, as they should be targeting the Indonesian people who are hungry for a bit of fun.

My humble two cents.

 

[Merl Haggard]

Sands has to sell and get some capital back.He is out of cash.

He is betting on Singapore which would be a complete failure,pity such a smart biz tycoon also kena conned by MM Lee KY.

I have no sympathy for him,he should be bankrupt as he has a bloated ego,same as MM Lee,except he knows not that MM Lee never puts his own money to risk.

On the contrary it was LKY who got conned and fucked by Sheldon Adelson. LVS has drawn S$5.4 bln bank-loan syndicated
by DBS to hold LVS shares at US$150 as collateral, and recently Temasek pumped into LVS another US$1.6 bln to complete
the Marina Bay casino.

 

[Merl Haggard]

Hi bro,
I think that the Singapore casino will fair better, as they should be targeting the Indonesian people who are hungry for a bit of fun.

My humble two cents.

No Indonesian or South East Asian high-rollers can keep Sands Marina afloat except for the PRC high-rollers,
but unfortunately they are restricted by the Chinese Central Govt from gambling in casinos.

 

[Porfirio Rubirosa]

Is that a fact?

, and recently Temasek pumped into LVS another US$1.6 bln to complete
the Marina Bay casino.

 

[Merl Haggard]

Is that a fact?

Connecting the Shwartz dots

Thursday, 19th March 2009

Singapore Democrats



In November last year, this website reported how Las Vegas Sands managed to raise a stunning US$2.1 billion in an amazingly short span of time, an achievement that makes one say “hmmm..."

Out of the US$2.1 bln, Sheldon Adelson put up US$500 million and the balance sum of US$1.6 bln was pumped in by an unidentified and mysterious subscriber.

Today we have found another piece of the puzzle that moves us closer to filling in the jigsaw on what makes Mr Adelson's Singapore project continue to hobble along even as the other casino projects fall like ten pins.

To recap: Sands Corporation announced in November 2008 that it was going bankrupt. The alarm bells rang so loud that it awakened even the Minister Mentor who declared that Marina Sands project which was awarded to Mr Adelson's company, would go on even as it is "under pressure."

But at what cost? Apparently none to us taxpayers in Singapore because according to the Senior Minister of State for Trade and Industry S Iswaran, no bailout money came from the Government as the development "has always been a commercial project."

Perhaps. But in Singapore the line between the commercial and state sectors is as firm as warm butter.

And the dairy spread got a little warmer today as Las Vegas Sands announced the appointment of a Mr Jeffrey Schwartz as a member of its board of directors.

And it just so happens, according to the Private Equity Real Estate, that Mr Schwartz is a chairman and chief executive officer of Global Logistic Properties (GLP), a company the GIC recently acquired for US$1.3 billion and renamed (originally called ProLogis Asian Operations).

Now that we know GLP's Schwartz has recently become Las Vegas Sands' Schwartz, the next we need to ask is how Mr Schwartz got into Mr Adelson's board of directors and what in the heck is he doing there.

Did the pumping of US$2.1 billion into Las Vegas Sands originate from Singapore? And does Mr Schwartz's appointment to Sands' board have anything to do with GIC opening the valve?

If it does, is the PAP Government still of the view that there is no bailout of Sands' by the people of Singapore (many of whom, by the way, was opposed to the project) and that the development of Marina Sands is strictly a commercial project?

Are we throwing good public money after bad? Worse, is it being used to save the face of the Government who made a very bad decision to go into the gaming industry when the industry is crumbling?

Not only is Sands' going kaput, Donald Trump's casino group filed for Chapter 11 a month ago, and Macau's casinos have one leg in the grave.

And there's no guarantee that the Marina project is going to be completed on time and on budget. After that, whether it is going to become a virile bull or a white elephant is any body's guess.

But one thing is certain; Singaporeans

 

[singveld]

they can sell to ho ching or any other money eye civil servant.

casino is sure profit. yeah, family will break apart, kids will starve, but casino will always make money. especially if there is very few player.

 

[myo539]

Not bad. Initial capital recouped back in 12 months - the rest is loose change. If Singapore Marina Sands is put up on sale, I would like to have a share too!