Sands Macao Revenue Up 39%
Written on November 2, 2006 by admin
And up and up the numbers go, a whopping 39% increase over the last quarter! Sheldon Adelson surely is laughing all the way to the bank! It will be interesting to see what Wynn Macau results will be, of course with Stanley Ho’s SJM we will never know!
We also mentioned earlier about the Hengqin Island project and as you can see in this report by Bloomberg, Las Vegas Sands have set aside a cool US$2 billion for this development!
Full report by Bloomberg | Las Vegas Sands said revenue increased 39 percent at the Sands Macao, the first U.S. casino to open in China, and climbed 11 percent at Venetian Resort Hotel Casino, its flagship Las Vegas resort. Billionaire Chief Executive Officer Sheldon Adelson plans to build another 20,000-room project in Macau, a new addition to the Venetian and the first casino in Singapore.
Macau is an autonomous region in China and the only place in that country that allows gambling. The Sands Macao, which opened in 2004, was the first U.S. casino to open there.
The company is also building the $1.8 billion Venetian Macao, scheduled to open next year. That property will anchor a complex of hotels which will cost as much as $11 billion, Sands President William Weidner said on a conference call with analysts and investors.
Sands also plans on spending $2 billion over the next five years to develop hotels and condominiums on the nearby Hengqin Island.
Technorati Tags: macao, macau, sands macao, Stanley Ho, Venetian Macao
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