[Svoboda]

"Las Vegas Sands is in talks to sell some or all of its Strip assets — the Venetian, Palazzo, and the Sands Expo and Convention Center, according to the company."

"Sands is working with an adviser to solicit interest for all three properties, which could bring $6 billion or more, Bloomberg reported, citing people with knowledge of the matter. They asked to not be identified because the talks are private, Bloomberg said."

Well, that's certainly interesting.

https://www.reviewjournal.com/busine...VSh4ShAYcWYWW0

[robr2]

I wonder how much of the $13 billion in debt will be tossed in with the deal.

[apple92680]

For just Las Vegas, or Macau and Singapore as well?


Edit: Nevermind...read it here:

The discussions of a potential sale come as Las Vegas’ economic recovery from the coronavirus pandemic appears long and uncertain. Meanwhile, the company’s most lucrative properties are in Asia, where it operates hotel-casinos in Singapore and the Chinese special administrative region of Macao.

[BBMW]

Adelson built his Vegas properties to milk the convention market. That's not looking like a great business plan now.

[Willy702]

This was inevitable, same for Wynn until Steve got pushed out. The Vegas assets could on the fringes cause conflict for Macau license renewal so time to break things apart. If Macau authorities tell them it's either here or US assets, the US assets are going to get sold every time.

[WestieJeff]

Interesting.. I had not considered that but yes it seem like that could happen.

Originally Posted by Willy702

This was inevitable, same for Wynn until Steve got pushed out. The Vegas assets could on the fringes cause conflict for Macau license renewal so time to break things apart. If Macau authorities tell them it's either here or US assets, the US assets are going to get sold every time.

[Mariza160]

Originally Posted by Willy702

This was inevitable, same for Wynn until Steve got pushed out. The Vegas assets could on the fringes cause conflict for Macau license renewal so time to break things apart. If Macau authorities tell them it's either here or US assets, the US assets are going to get sold every time.

No, think this analysis is a little off. US is less than 15% of their assets
while Macau/Singapore is over 65%. I don't think license renewal
has anything to do with it. They are simply shifting their focus and resources
to the overseas Asian markets. The fact that their strip properties are valuable
and there is no LV Convention business for the immediate future certainly
played into this decision to price out a potential sale.

[Willy702]

Originally Posted by Mariza160

No, think this analysis is a little off. US is less than 15% of their assets
while Macau/Singapore is over 65%. I don't think license renewal
has anything to do with it. They are simply shifting their focus and resources
to the overseas Asian markets. The fact that their strip properties are valuable
and there is no LV Convention business for the immediate future certainly
played into this decision to price out a potential sale.

Perhaps you should read this

https://www.ggrasia.com/china-to-cri...abroad-report/

[Mike from back east]

I don't follow the casino business but anyone can see that gambling and casinos are expanding across the USA. Per this site I see there are at least 60 Indian casinos in California and more expected. That many places in CA works to lessen visitation to LV.

Here in AZ the casinos often have well known music acts to draw people and I suspect it's the same in most states.

There was a SCOTUS decision in 2018 which struck down the prohibition on sports betting in the USA which largely ended the monopoly Nevada enjoyed since 1949. This Wiki page shows which 20 states now have legalized sports betting.

There will be less desire to visit LV because eventually there will be sports betting at a place near most of us. Last year I recommended that my local movie house chain convert 1-2 of its 14 theaters into a sports betting room like those I've enjoyed in my visits to LV; I never heard back but with more people streaming movies at home they too are looking at ways to put butts in seats.

So, with casinos in almost all states and sports betting growing as well, I'd "bet" people see less reason to visit LV. The outlook for the Sands, and LV in general, is probably for little growth or even shrinking revenues / profits thus The Sands, et al, will consider this point in time as in inflection point to see if it's time to let go of their fungible assets in LV.

[airics]

Originally Posted by Mike from back east

I don't follow the casino business but anyone can see that gambling and casinos are expanding across the USA. Per this site I see there are at least 60 Indian casinos in California and more expected. That many places in CA works to lessen visitation to LV.

Here in AZ the casinos often have well known music acts to draw people and I suspect it's the same in most states.

There was a SCOTUS decision in 2018 which struck down the prohibition on sports betting in the USA which largely ended the monopoly Nevada enjoyed since 1949. This Wiki page shows which 20 states now have legalized sports betting.

There will be less desire to visit LV because eventually there will be sports betting at a place near most of us. Last year I recommended that my local movie house chain convert 1-2 of its 14 theaters into a sports betting room like those I've enjoyed in my visits to LV; I never heard back but with more people streaming movies at home they too are looking at ways to put butts in seats.

So, with casinos in almost all states and sports betting growing as well, I'd "bet" people see less reason to visit LV. The outlook for the Sands, and LV in general, is probably for little growth or even shrinking revenues / profits thus The Sands, et al, will consider this point in time as in inflection point to see if it's time to let go of their fungible assets in LV.

They have been saying the gambling thing for years. I can gamble in Ohio, New York, where ever. This is 100% related to covid and conventions. Unless they open everything, Vegas is done economically. There we’re record crowds and tourism until 2020

Vegas will be a great place to live if you’re retired and financially sound.