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Sands pulls out IR
- Thread starter PissNPiss
- Start date
LVS cannot and have not pulled out yet, but they'll be reporting huge losses in the coming quarters.
why not? those risk takers may have also invested in the CDS...
only a nutcase would still want to invest in casino after a financial collapse!
Hi PNP,
This is what I heard from those working closely with LVS. They have said that they plan to move forward the opening date unless there is more govt "support" during the upcoming hard times.
We already know that China is restricting visas to Macau but the upswing is that these people now will come over given the relative cheaper flights in the future months and year ahead as oil prices come down drastically.
Looks like LVS will be seeking a private rescue plan or some assurances from the govt or with Temasick.
Well, it looks like a delay is on more on the cards than a pullout, they've already invested beyong the point of no return.
Cheers,
MM
This is what I heard from those working closely with LVS. They have said that they plan to move forward the opening date unless there is more govt "support" during the upcoming hard times.
We already know that China is restricting visas to Macau but the upswing is that these people now will come over given the relative cheaper flights in the future months and year ahead as oil prices come down drastically.
Looks like LVS will be seeking a private rescue plan or some assurances from the govt or with Temasick.
Well, it looks like a delay is on more on the cards than a pullout, they've already invested beyong the point of no return.
Cheers,
MM
What they have invested in is nothing compare to the losses they will suffer later, with today's meltdown, casino is the last thing you want to invest in.
Thx for the info. I hope IRs will be the next Ministry of Sound or Crazy Horse.
This is the retribution for PAP Regime for prioritising investments in casino constructions over
1. Hospital Building
2. Schools upgrading
Or even better the Tang Dynasty in Jurong..
doom and gloom for golden age.
It would depend on their stock market performance, and that price relates to their company performance- which is dependent on their casinos in major gambling cities like Atlantic City, Las Vegas, Macau, and many others.
And since they are based in the US, if their home base is doing badly, and they have to withdraw because of the lack of funds, then they just might do that.
Do remember that gambling is a consumer spending base. If middle class people, which still is a major source of visitors and revenue for casinos, don't visit their main casinos in the US, then tourists won't come down to Singapore; they will just stick one in Macau, maintain one because of operating costs, and that's it.
The consequences: If Sands do withdraw, and with that their expertise, I would like to see how a straggling government explain itself. After all, they looked into tourism as their main economic policy to drive up economic growth(or more lately, used it as their excuse to get us out of a recession, and out of unemployment), and if that fails, and no-one buys Sands' share, the PAP is pretty much screwed.
Z
Zombie
Guest
If LVS fails, sg govt can takeover the IR development.
And run them to the ground. The fact is that they have no-one who has IR management of the highest kind- including experience- to run a casino. If you ask a former military general, 45 years old, who knows nothing about finance, business and IR management to be CEO of the IR, you are asking for your death warrant.
Casinos should be, as they are in the gambling business- a free market, ran by people who have experienced the free market, have good judgment, have well-managed casinos in Macau/Las Vegas/Monaco before, and can adapt to a new culture, in order to make money.
That's why a government civil servant-turned-CEO cannot cut it. If one's appointed, the IR will probably crash and burn.
Ha ha ha.............I don't even enter before.
LVS is struggling to stay afloat.
Share price of LVS 52 week low is $10.66 first time ever since their listing in NYSE.
They are bleeding real bad with their operation of the 3 mega casinos in Macao when
the Chinese Govt got smart and started to restrict Chinese gamblers from visiting Macao.
I'm very sure the Chinese Govt would not hesitate to restrict their citizens from visiting
S'pore to punt too.
Casino gambling is usually related to money-laundering and corruptions which the Chinese Central
Govt is trying very hard to eradicate.
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