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Las Vegas Sands Corporation may soon have to spend large sums in Macau
Robert Goldstein, newly appointed chairman and chief executive officer of renowned casino operator Las Vegas Sands Corporation, reportedly said his company may have to spend $10 billion on improving five more powerful sites in Macau.
The management took the helm of the Las Vegas-based company following the death of its predecessor Sheldon Adelson and made the costly revelation as part of a conference call to discuss the casino operator's fourth-quarter financial results. The source detailed that the boss believes his business could pour cash into Macau as part of efforts to extend gambling rights beyond the cutoff.
Las Vegas Sands Corporation, a subsidiary of Sands China Limited, is responsible for the prestigious The Venetian Macao, The Plaza Macao, Sands Macao, and The Parisian Macao properties of former Portuguese residences and will soon begin the first phase of its $2.2 billion project to transform the huge Sands Cotai Central development into a new-look The Londoner Macao. However, the sources explained that Macau has been eager to mold itself into a more family-oriented tourist destination and could ask operators looking to extend their casino licenses to invest more in non-game facilities.
"I believe we need to invest more in Macau once it makes its decision. We're going to invest $5 billion to $10 billion more. When the Macau government makes a decision, I think we will continue to make rather solid capital investments that Sheldon knows to have felt to seize such opportunities with both hands. There is no place like Macao and we are not done in Macau. We'll be there for a few more years."
Las Vegas Sands Corporation, along with its U.S. compatriots Win Resorts Limited and MGM Resorts International, are reportedly facing the real prospect of being used as a political football in the ongoing trade war between the U.S. This pessimistic potential may see the trio spend more cash than their Macau-based rivals to maintain concessions to operate in the planet's most lucrative casino market.
"We need to prepare for external investment in our top markets, Macau and Singapore, because these are worth billions of dollars, not small investments. If all this goes away, the Macau government will require license holders to invest in Macau, and we want to go there and prepare." https://www.casinositesafe.com/
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