Las Vegas Sands considering IPO of Macau assets?

May 19, 2009 5:07 PM
by Ray Poirier | Media reports were heavy over the weekend in Hong Kong that Las Vegas Sands Corp. (LVS) was considering an initial public offering (IPO) of its Macau assets.

The company reportedly hired Goldman Sachs to help it with the spinoff of assets.

This came on the heels of a rumor that the company was offering to sell its Macau gaming facilities with a leaseback arrangement. However, Analyst Joe Greff of JP Morgan said such a move would be highly unlikely.

However, he felt that selling assets such as its Four Seasons Hotel in Macau and some of its Asian retail malls was more likely.

Such sales would help the company ease its debt burden that totals $10.4 billion.