Las Vegas Sands eyes IPO worth $4 billion

Jul 8, 2009 7:22 PM
Staff & Wire Reports |

Las Vegas Sands (LVS) is expecting a huge influx of cash, $3 billion to $4 billion, according to Chairman CEO Sheldon Adelson.

In a Wednesday interview with Reuters, Adelson said the company will raise up to $4 billion through an array of fund-raising options, including an initial public offering (IPO) of some of its Macau assets in Hong Kong.

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"We are looking at a Hong Kong Stock Exchange listing among 5 or 6 options," Adelson said. "We are in the trough of the cycle so things are looking up."

Adelson added that uncertain market conditions have forced the firm to presently shelve its plans of selling its Macau retail operations.

Closer to home, Adelson said that Las Vegas Sands’ business is improving at its singular Italian-themed Venetian resorts in Las Vegas and Macau, where it would probably re-commence the construction of its halted projects by the end of the year.

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