Sands is in a mess!

[YNT]

So what is the possibility that sands might go bankrupt and abandon the project???

 

[TeeKee]

LVS has so far paid to URA only 20% of the $1.2 bln for land cost.

$240 m is hardly enough to complete a $8.5 bln project.

Still dun want to scrap the white elephant?

240m lost is lower than 8.5 bln lost....

 

[Merl Haggard]

This project is too big to fail. Impact will be severe if it does, especially on the banks' balance sheet.

Note that this project is on a "white site". If Sands is unable to complete the project, I believe the govt is entitled to take back the land. Temasek will then simply nationalize the project. Since Sands already paid for the land cost, Temasek will use that money to complete the construction and get either Sands, Harrah, Wynn, or MGM to operate the casino... and Mr Lee gets a free casino in the process! Rest assure our learned and well paid Mr Lee already thought of that contingency plan.

I don't think any operator would want to come and manage such a huge IR with only 11% component for casino.

The key here is those China high-rollers whom they originally targeted won't be allowed to come, just like they are currently restricted from Macao and that's why LVS and all other casino operators in Macao are bleeding to death.

 

[zhihau]

I don't think any operator would want to come and manage such a huge IR with only 11% component for casino.

The key here is those China high-rollers whom they originally targeted won't be allowed to come, just like they are currently restricted from Macao and that's why LVS and all other casino operators in Macao are bleeding to death.

you know what came to my mind?

HUAT AH!!!

 

[Merl Haggard]

Still dun want to scrap the white elephant?

240m lost is lower than 8.5 bln lost....

Writings are very clear on the wall. Contractors and consultants have not been paid and morale at the job-site is extremely low.

Their recent recruitment of 10,000 workers was nothing, but a PR exercise, and that was immediately after LVS application for a US$5.5 bln loan was rejected by banks in HK.

 

[Merl Haggard]

you know what came to my mind?

HUAT AH!!!

Shud be hor-seh liao! Lee Kuan Yew tua huat arghh!

 

[wusangui]

PR exercise

what is PR exercise?

 

[Gillette]

I don't think any operator would want to come and manage such a huge IR with only 11% component for casino.

The key here is those China high-rollers whom they originally targeted won't be allowed to come, just like they are currently restricted from Macao and that's why LVS and all other casino operators in Macao are bleeding to death.

The project can be split into its components and managed/operated separately as Casino/Hotel/Theme park/Retail. As a manager/operator, it is not necessary to invest any equity. The operator gets management fee as a % of the revenue and GOP. Definitely there will be operators interested.

I think the casinos are also targeting the rich from Indonesia, Malaysia, Vietnam, Thailand, India, etc.

 

[cass888]

This was rather unusual because borrower should come to lender and not the other way round, unless there is instruction from upstairs.

You have no clue. In that league of loans the banks were kneeling and begging him to borrow their money.

 

[Neh_Neh_Pok]

Still dun want to scrap the white elephant?

240m lost is lower than 8.5 bln lost....

Who said that? Your pestors in church told you that?

 

[DIVISION1]

Sands cannot be in a mess because the Singapore government on ventures into business projects that are guaranteed winners!

 

[snrcitizen]

Sands cannot be in a mess because the Singapore government on ventures into business projects that are guaranteed winners!

Nobody in this world can guarantee anything except tax and death.

 

[jw5]

Nobody in this world can guarantee anything except tax and death.

I can also guarantee that stock markets can go up and can go down.

 

[po2wq]

... the Singapore government on ventures into business projects that are guaranteed winners!

did ur o master tel u of a place in china, dat in ancient times was full of chinese scholars, called suzhou? ...

 

[DOM the Clown]

Shud be hor-seh liao! Lee Kuan Yew tua huat arghh!

Lee's albino grandson huat until.................like that: