In comparison, Macau alone accounted for 63 percent of the company’s revenue in 2019. In the second quarter of 2020, the company reported a loss of nearly $ 1 billion.
Bloomberg speculates that the money generated from the Las Vegas sale could allow the company to build casinos elsewhere, citing Adelson’s desire to build a New York City casino, as well as guaranteeing his plans to build a casino in Japan earlier this year.
Las Vegas Sands Corp. In Talks To Sell Sin City Casino – If talks continue into a deal, Las Vegas Sand Corp. may not have a casino in the hometown of his name.
According to a report from Bloomberg, the company owned by Sheldon Adelson is in talks to sell the Las Vegas casino, Venetian and Palazzo visit poker88, as well as the Sands Expo Convention Center. If sold, the price is expected to exceed $ 6 billion.
Las Vegas Sands works with advisors to generate interest in the property. A representative from the company confirmed that Las Vegas Sands is in talks to sell, but nothing has even come close to a settlement.
If the sale is successful, it means Las Vegas Sands will no longer be exposed to the US gambling market and will focus its resources entirely on Asian business ventures. Outside of Las Vegas, there are casinos in Singapore and Macau. The company sold Pennsylvania long casino, Sands Bethlehem, in May 2019 to the Poarch Band of Creek Indian.
In 2019, the US market accounted for only 15 percent of the company’s revenue. It will likely be less than that in 2020 as this is the first full year without revenue originating in Pennsylvania and when the Las Vegas Strip has been closed for nearly three months and is struggling to return to pre-coronavirus income levels.