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Las Vegas Sands
From Wikipedia, the free encyclopedia
| Las Vegas Sands Corp. | |
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| Type | Public (NYSE: LVS) |
|---|---|
| Founded | founded 1988 |
| Headquarters | Head office in Las Vegas, Nevada |
| Key people | Sheldon G. Adelson (CEO & Chairman) William P. Weidner (President & CEO) |
| Industry | Tourism Services |
| Products | Resort, Casino |
| Revenue | $1.74 Billion USD ( 27.5%) |
| Employees | 12 230 |
| Slogan | "" |
| Website | www.lasvegassands.com |
Las Vegas Sands Corp. NYSE: LVS is a casino resort company based in Las Vegas, Nevada.
Las Vegas Sands corporate holdings include:
- The Venetian in Las Vegas
- Sands Macau a casino in Macau, China
- The Marina Bay Sands in Singapore, with a planned opening in 2009
- Sands Expo and Convention Center in Las Vegas
- The Palazzo under construction in Las Vegas, with a planned opening in 2007
- The Venetian Macao under construction in the Cotai Strip area of Macau, with a planned opening in 2007
- Sands BethWorks is expected to open in Bethlehem, Pennsylvania on July 2008
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The company was the owner and operator of the original Sands Hotel, which was demolished in 1996 to make room for The Venetian, which opened in 1999.
In September 2005, the company entered into an agreement with the city of Zhuhai, Guangdong, China to develop a 1,300 acre resort destination on Hengqin Island. In December 2006 the company received final approval to begin construction of the project.
On May 26, 2006, Las Vegas Sands was awarded the license to construct an "Integrated Resort" (casino resort), tentatively named The Marina Bay Sands, in Marina Bay, Singapore.
The company is currently constructing its trademarked Cotai Strip in the Cotai area of Macau. Las Vegas Sands' first casino in the Strip will be The Venetian Macao and is scheduled for completion in the summer of 2007.
Las Vegas Sands is currently in development stages of several resort areas around the world. The company is in building stages of The Palazzo which is scheduled to open in late 2007. The resort will have a luxury - Beverly Hillish - theme and be a robust 50 stories tall. The Palazzo and the Venetian will be connected providing a vast array of restaurants, gaming, shopping and poolside fun for all guests. The Palazzo will add 3,025 suites to the already 4,000+ suites offered by the Venetian. Furthermore, Las Vegas Sands has in building stages is The Venetian Macau, which will anchor their other properties under development along the Cotai Strip in Macau, China. The Venetian Macau adds to their other property in Macau - The Sands Macau - and the revenue expected to be produced by the Cotai strip has already surpassed the Las Vegas Strip, and many investors have already bought into the company's stock to reap the benefits of the potential of this gaming Mecca.
Moving on to the South of Asia, LVS is in preliminary development stages of a plot they were awarded in Singapore. Many gaming companies bid for the rights to build in this lucrative market and Las Vegas Sands came out on top and were awarded the rights to develop the land. The Resort is currently known as The Marina Bay Sands and is forecasted to open in 2009. This resort will be the first casino allowed in Singapore in the last 40 years.
Lastly, the las Vegas Sands has development plans for a resort on Hengqin Island, China, along will a gambling hall in Pennsylvania. There is also speculation that LVS has bids for places in Europe and this shows the vast array of development sites that Las Vegas Sands has proposed.
Approximately 90% of LVS stock is held by company insiders, with CEO Sheldon Adelson presently owning approximately 65%. As of January 2007, the company's market capitalization was $36 billion.