Sands pulls out IR

[The_Latest_H]

I was talking about IR development ie infrastructures, business setup etc
You are talking about running the IR business ie strategies, cultural matters, customer bases etc

You still need casino developers to build it. And as it is, rivals of Sands still build their casinos, and they won't build new casinos unless they can make a normal profit. And if Sands can't, and others think they won't make money until a few years down the line- which is risky for a new casino(you have to hit the ground running)- then if other developers don't come in, then what's the point?

All these building takes time and money, and companies won't spend more especially in these tough times; they would cut costs instead. Casino companies alongside banks are suffering because they are all dependent on consumer spending. Once revenue goes down, and total costs goes up, they will find it unprofitable. And in the long run, the casino if open, will run itself down to nothing.

 

[cass888]

If there is insufficient resources for hospitals, why need to spend $1billion on church? Can donate more money to help those who are suffering. After all a church is only a place of congregation. You can always go to Hong Lim Park for sermons since its seldom used.

What people do with their money is their business. They want to give their money to build a church and not a hospital. Who are you to tell them what to do with their money?

 

[silverfox@]

Seriously, even if LVS is in deep shit, I don't think there will be a lack of suitors taking up a stake in the MBS. Casino business is lucrative. The restriction on Macau can only push visitors this way.

Incidentally, my boss just went to Macau and he reported that the whole place is still damn crowded with PRCs.

Macau, Genting, recession or not, the casino will still be crowded with people gambling.

People who do not think a casino is feasible, should not look far. They can just go to Tanah Merah Ferry Terminal and see how many people board ferries to cruise ships to gamble.

IR is an Integrated Resort. The casino is a cash cow, but the theme parks, facilities, f&b is not going to lose money.:o

 

[makapaaa]

Don't be daft. Hospitals and schools are paid for the the government. The IRs are paid for by the casinos (in addition, they also pay huge sums of money to the government for the licence).

This deception is so typical of the followers of the MONGREL who bit his masters' hands LOUDHAILER chee soon juan and his SDP reCHEEme.

Your owners' have a proud history of throwing good money - lotsa of it - at MNCs to make them stay to do up the FDI figure and justify awesome bonuses for themselves. These MNCs in turn take the free money to hire more FTrash or simply use it to build new facilities in other countries to hasten their departure.

 

[makapaaa]

What people do with their money is their business. They want to give their money to build a church and not a hospital. Who are you to tell them what to do with their money?

"Their" refers to?

 

[Kid278]

it just means that the tablets to commemorate the father, son & lao Goh have to be put on hold. but no matter what, they already reserved that plot of land for their memorial.

You mean reserved for this.

 

[halsey02]

Hi Hal,

Been busy with things and been travelling a lot over the last few months. My carbon footprint is way into the red zone already... : )

It's nice to see you here too.

I went past the place just 2 days ago. I heard that the hawker centre got burnt down or something...perhaps that's why they are "upgrading" it.

Yes, 5 years ago was about the last time they renovated the place, I guess they have a lot of unused funds. I last saw the Ansana trees are now beginning to move whole sections of pavement in front of the CC, I guess they didn't do anything about it for the last half a decade.

Catch up with you in other threads..

Cheers,

MM

You sure had been away for a while, the one that burnt down is down the road. I can never understand why would they keep upgrading the hawker's & market when it had just been upgraded(5yrs). After the last upgrade, the prices went up, now after this UPgrade, another round of increase!

I Know what you mean about the sections of the pavements in front of the cc, it would be sad if they were to cut them trees down. I saw these trees grow from a saplings to old matured trees, and if they can talk, they can tell you tales on how life was different then, when they are saplings!

see you around... wear a shirt that is emblazoned with the word MM, when you walk around the 'kampung' so that I know, who you are, I can recongnize the other mm, without anything emblazoned...

cheers!

 

[Zombie]

All these building takes time and money, and companies won't spend more especially in these tough times; they would cut costs instead.

the IR project is undertakened by MBS, a "SPV"
finance already provided for the development
additional cost concern would be sand and other inflations
debts are collaterized by almost all the MBS's assets
if LSV gives up, the sg govt can takeover the assets to continue

 

[williamsF1]

You mean reserved for this.

i hope all those statue will be those that wear same uniform as him, go inside the tomb together.

 

[cass888]

"Their" refers to?

"Their" refers to the people who built the church being criticised by the bleeding heart liberal who said:

If there is insufficient resources for hospitals, why need to spend $1billion on church? Can donate more money to help those who are suffering. After all a church is only a place of congregation. You can always go to Hong Lim Park for sermons since its seldom used.
​

 

[phouse3]

the IR project is undertakened by MBS, a "SPV"
finance already provided for the development
additional cost concern would be sand and other inflations
debts are collaterized by almost all the MBS's assets
if LSV gives up, the sg govt can takeover the assets to continue

This is a project finance, no different from the million others.

Banks are providing the loans. Obviously the project is mortgaged to the banks. IF there are any difficulties like breaching of certain financial covenants, including those of the sponsors, and a non-remedy ("Event of Default"), it is the banks that will take over.

In any project, even after completion, repayments have to be made. Again, any non-payment or breach of financial covenant will invoke an Event of Default.

Funding will be also be required for working capital.

LVS also has obligations to the Singapore government under the concession to operate the IR.

 

[imperialarms]

las vegas sands have been re-contracted to build mroe barracks for NS slaves instead

 

[Zombie]

Banks are providing the loans. Obviously the project is mortgaged to the banks. IF there are any difficulties like breaching of certain financial covenants, including those of the sponsors, and a non-remedy ("Event of Default"), it is the banks that will take over.

Sg govt can take over the development ...... continuity issue.

 

[halsey02]

las vegas sands have been re-contracted to build mroe barracks for NS slaves instead

psst!, mind I ask, you related to Madmansg? or you are his twin?