Sands predicts Macau business to grow 15%

Nov 17, 2009 2:57 AM
Industry Insider by Ray Poirier |

Looking to support its current effort toward a successful Hong Kong initial public offering, Las Vegas Sands (LVS) said on Sunday that its Macau business will grow by 15 percent in 2009.

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And, in 2011, after it has completed its two stalled projects on the Cotai Strip, the company hopes to generate 30 percent of its Macau revenues from non-Chinese customers.

Speaking at a news conference, Steve Jacobs, chief executive officer of Sands China, said investor reaction to its Hong Kong IPO has been "extremely favorable." The company is selling 1.87 billion shares of its Macau-area operations, looking to generate $3.35 billion in proceeds.

The company plans to resume work on Macau’s Cotai Strip in January.

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