Las Vegas Sands 3-Q Profit Looking Good

Written on October 31, 2006 by admin

As reported by Yahoo Finance | NEW YORK (AP) — Hotelier and casino operator Las Vegas Sands Corp. reports third-quarter earnings on Wednesday. The following is a summary of key developments and analyst opinion related to the period.

OVERVIEW: Las Vegas Sands, which is run by billionaire Sheldon Adelson, signed a development deal in August with the Singapore Tourism Board for its Marina Bay Sands casino resort. The signing allowed the company to officially take over the Marina Bay site to begin construction.

In May, Las Vegas Sands won a hotly contested bid to build Singapore’s first casino, which is set to open in 2009. The company said it will invest more than $3 billion to develop the casino resort, which is expected to create 30,000 additional jobs by 2015.

Las Vegas Sands also completed an expansion of the Sands Macau to more than 229,000 square feet with 740 table games in August.