The Las Vegas Sands group, which owns two renowned establishments in Las Vegas, in the United States, recently announced its intention to dispose of its properties in a negotiation that could exceed $ 6 billion (approximately R $ 35 billion in quotation) current).
From now on, the corporation’s intention will be to invest in the expansion of its properties on the Asian continent, according to SuperPoker. Las Vegas Sands, created in the 1990s by billionaire investor Sheldon Adelson, is controlled by the Sands Expo & Convention Center and the Venetian Resort in the state of Nevada.
The decision to give up the properties comes about a few months after Adelson’s death, on January 11 of this January at the age of 87. Robert Goldstein was announced CEO and permanent president of the group after the death of the casino mogul.
At first, he came to office on January 7, when Adelson, who has been president of the casino operator since its founding in 1988, applied for sick leave shortly before he died of complications from treatment against a non-Hodgkin’s lymphoma on 11 January.
Las Vegas Sands focuses on investments in Asia
The deals that are already well advanced are the sale of the operating part of the Venetian to the Apollo Global Management group, for about US $ 2.25 billion, and the purchase of the properties and real estate assets of the same project by VICI Properties for US $ 4 billion.
The main motivation for doing business in the USA is that Asia will receive much more investment from Las Vegas Sands. The company owns the largest number of properties in Cotai, the site of the concentration of casinos in Macau, and also owns the popular Marina Bay Sands, located in Singapore.
Today, Singapore and Macau accounted for 35% and 48%, respectively, of the group’s total revenue last year, according to information from financial valuation company Renefitiv Eikon.
