{"id":4508,"date":"2020-04-29T10:28:12","date_gmt":"2020-04-29T10:28:12","guid":{"rendered":"https:\/\/www.top10casinowebsites.net\/news\/?p=4508"},"modified":"2020-04-29T10:28:19","modified_gmt":"2020-04-29T10:28:19","slug":"sheldon-adelson-confirms-las-vegas-sands-are-looking-at-acquisition-of-asian-casinos","status":"publish","type":"post","link":"https:\/\/www.top10casinowebsites.net\/news\/sheldon-adelson-confirms-las-vegas-sands-are-looking-at-acquisition-of-asian-casinos\/","title":{"rendered":"Sheldon Adelson Confirms LVS Are Looking At Acquisition Of Asian Casinos"},"content":{"rendered":"\n<div class=\"wp-block-image\"><figure class=\"alignleft size-large\"><img decoding=\"async\" src=\"https:\/\/www.top10casinowebsites.net\/wp-content\/uploads\/2016\/01\/sheldon-adelson.jpg\" alt=\"Sheldon Adelson\" width=\"300\" title=\"Sheldon Adelson Confirms Las Vegas Sands Are Looking At Acquisition Of Asian Casinos\"\/><\/figure><\/div>\n\n\n\n<p><a href=\"https:\/\/www.top10casinowebsites.net\/news\/las-vegas-sands-chief-executive-officer-battling-cancer\/\">Sheldon Adelson<\/a>, Las Vegas Sands Chairman and CEO indicated during a recently held first-quarter earnings conference call with investors that the company may soon expand its interests toward purchasing existing casinos in Asia, but refused to offer any specific details on future plans.<\/p>\n\n\n\n<p>Billionaire Adelson is the largest shareholder of <a href=\"https:\/\/www.sands.com\">Las Vegas Sands<\/a> stated that while the company is still pursuing the development of integrated resorts, they have enough funds to acquire Asian casinos should a good opportunity arise.<\/p>\n\n\n\n<p>Las Vegas Sands\u2019 properties in Singapore and Macau are in the midst of expansions worth $5.5 billion; the company is also interested in putting in a bid for an integrated resort in Japan. <strong>The company possesses $2.6 billion in cash reserves as March 2020, and they have enough credit to access as much as $4 billion<\/strong>.<\/p>\n\n\n\n<p><strong>Patrick Dumont<\/strong>, the CFO of Las Vegas Sands, seconded Adelson\u2019s statements, saying that the firm is leveraging its massive cash reserves to capitalize on possible acquisition targets in key markets. Dumont stated that the company is simply keeping an open mind\u2014if an existing high-quality casino is available in a market the Sands want to enter, purchasing that casino may be a better option that trying to build a new property.<\/p>\n\n\n\n<p><strong>CNBC Television<\/strong><\/p>\n\n\n\n<div style=\"position:relative;height:0;padding-bottom:56.25%\">\n<iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/6CcbfFbuYXM?rel=0&amp;showinfo=0?ecver=2\" width=\"640\" height=\"360\" frameborder=\"0\" style=\"position:absolute;width:100%;height:100%;left:0\" allowfullscreen><\/iframe>\n<\/div>&nbsp;\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Gaming Analysts Agree with Sands\u2019 Move<\/strong><\/h2>\n\n\n\n<p>Gaming analysts said that Las Vegas Sands\u2019 move toward possible acquisitions from its long history as a developer of integrated resorts could be an exciting new time for the firm.&nbsp;<\/p>\n\n\n\n<p><strong>Steven Wieczynski<\/strong>, from Stifel Financing, said that the company\u2019s balance sheet is strong enough to handle such pursuits, adding that their cash reserves could be an advantage in a time when many competitors are desperately seeking liquidity.\u00a0<\/p>\n\n\n\n<p><strong>Carlo Santarelli<\/strong>, from Deutsche Bank, expects that, if Las Vegas Sands acquires a casino in Asia, it will likely be a massive casino that will advance the company\u2019s overall strategy. Las Vegas Sands shares continued to go up this week on the New York Stock Exchange.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Sands Still Recovering from COVID-19 Setbacks<\/strong><\/h2>\n\n\n\n<p>The Palazzo and Venetian properties on the Las Vegas Strip were closed on March 17 due to the COVID-19 pandemic. The iconic Marina Bay Sands resort located in Singapore, closed in early April due to the same concerns.<\/p>\n\n\n\n<p>Las Vegas Sands\u2019 daily expenses for their properties are around $12 million\u2014including salaries and benefits for furloughed workers. The firm has since delayed its quarterly dividend payment to 2021, which is expected to bring $3 billion in funds. Their <a href=\"https:\/\/www.top10casinowebsites.net\/news\/macau-casinos-shut-down-for-15-days-to-prevent-coronavirus-spread\/\">Macau properties have also been impacted by COVID-19<\/a>; they were closed for 15 days, which limited the revenues derived from the Chinese New Year, traditionally the most lucrative time for Macau casinos.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sheldon Adelson, Las Vegas Sands Chairman and CEO indicated during a recently held first-quarter earnings conference call with investors that the company may soon expand its interests toward purchasing existing casinos in Asia, but refused to offer any specific details on future plans. Billionaire Adelson is the largest shareholder of Las Vegas Sands stated that [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13,8],"tags":[],"class_list":["post-4508","post","type-post","status-publish","format-standard","hentry","category-industry","category-usa"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Sheldon Adelson Confirms LVS Are Looking At Acquisition Of Asian Casinos<\/title>\n<meta name=\"description\" content=\"Las Vegas Sands Chairman and CEO indicated during a conference call with investors that the company may soon expand its interests toward purchasing existing casinos in Asia\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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