HONG KONG –- As reported by Bloomberg: "Las Vegas Sands Corp., controlled by billionaire Sheldon Adelson, plans to apply in Hong Kong early next month for an initial public offering of shares
The Sands Macao has over 700 table games on its casino floor. in its Macau casinos, said a person with knowledge of the matter.
"The Las Vegas-based casino operator also seeks amendments to its bank borrowings in Macau, including covenant relief and permission to sell as much as $1.5 billion in new debt, said the person, declining to be identified as the plans aren't public.
"Stock rallies this year have revived interest in share sales after IPO fund raisings in Hong Kong had the slowest first half since 2003, according to Bloomberg data. President Michael Leven said July 8 the company could raise at least $2 billion selling a minority stake in its Macau business in Hong Kong.
"...Las Vegas Sands is seeking funds to restart work on its $12 billion, 20,000-room hotel and casino complex on Macau's Cotai Strip. Construction stopped last year as credit markets froze, revenue growth slowed and the risk of loan defaults swelled..."
|Las Vegas Sands Corporation owns and operates casino resorts, including The Venetian in Las Vegas and The Sands Macao Casino in Macao. The company is also developing casino resorts and properties in Las Vegas and Macao, including The Palazzo Resort Hotel Casino and hopes to build a casino in Singapore.|
ReadyBetGo! is an independent gambling news and information service. If you plan to play in casinos, ensure
that you are not breaking any local laws. It's up to you to know the legality of your actions when you gamble.