Las Vegas Sands
Encyclopedia
Las Vegas Sands Corp. is an integrated resort company based in Paradise, Nevada
, USA.
, which was demolished in 1996 to make room for The Venetian, which opened in 1999.
In February 2008, the company announced that it has acquired two L-1011 aircraft which it plans to use to bring gamblers from Asia
to its Las Vegas properties. The aircraft will be equipped with baccarat
tables that can be played while over international waters using established lines of credit. According to gaming officials, the Nevada gaming tax will not apply to these wagers.
Las Vegas Sands also owns the Four Seasons Hotel Macao, Cotai Strip, as well as the Shangri-La, Traders and Sheraton Hotels when they open in the third quarter of 2011.
In August 2007, Adelson indicated an interest in building a new casino resort in Marlborough, Massachusetts
, but as of 2011, gambling has not been legalized in the state.
Las Vegas Sands has been part of the industry-wide effort to legalize casino gambling in Florida
. If successful, Sands plans to invest up to $3 billion in a Miami resort, though it faces competing plans from the Genting Group
and Caesars Entertainment
.
and his family currently own approximately 52% of the company. In December 2004, the company completed its initial public offering with the ticker LVS on the New York Stock Exchange at a price of $29 per share. In October 2007, the company's market capitalization
peaked at $52 billion at $144.56 a share. However, because of general market declines and overall concern of the short-term financial health of the gambling industry, the market capitalization
sank to approximately $1billion by March 2009.
On September 30, 2008, with the company stock trading at $36.11, Sheldon Adelson
and his wife, Dr. Miriam Adelson, invested $475 million in the company through a 6.5% convertible note due in 2013. Subsequent to the $475 million investment by the Adelson family, and due to a further deterioration of the global economic environment, on November 11, 2008, the company announced that it will be receiving an additional investment of $525 Million from Sheldon Adelson
and his family along with a raising an additional $1 billion in a secondary offering. "The Adelsons agreed to buy 5.25 million shares of preferred stock and warrants to purchase about 87.5 million shares of common stock at an exercise price of $6 each."
In November 2009, the company completed an initial public offering of Sands China Ltd., its subsidiary that owns and operated its Macau properties, and raised a total of $3.3 billion in equity capital by selling a 29% interest in Sands China Ltd.
Paradise, Nevada
Paradise is an unincorporated town in the Las Vegas metropolitan area in Clark County, Nevada, United States. The population was 223,167 at the 2010 census...
, USA.
History
Founded in 1988, the company was the owner and operator of the Sands HotelSands Hotel
The Sands Hotel was a historic Las Vegas Strip hotel/casino that operated from December 15, 1952 to June 30, 1996. Designed by architect Wayne McAllister, the Sands was the seventh resort that opened on the Strip....
, which was demolished in 1996 to make room for The Venetian, which opened in 1999.
In February 2008, the company announced that it has acquired two L-1011 aircraft which it plans to use to bring gamblers from Asia
Asia
Asia is the world's largest and most populous continent, located primarily in the eastern and northern hemispheres. It covers 8.7% of the Earth's total surface area and with approximately 3.879 billion people, it hosts 60% of the world's current human population...
to its Las Vegas properties. The aircraft will be equipped with baccarat
Baccarat
Baccarat is a card game, played at casinos and by gamblers. It is believed to have been introduced into France from Italy during the reign of King Charles VIII , and it is similar to Faro and Basset...
tables that can be played while over international waters using established lines of credit. According to gaming officials, the Nevada gaming tax will not apply to these wagers.
Properties
| Image | Logo | Property | Location | Date Opened | Website |
|---|---|---|---|---|---|
 |
 |
The Venetian Resort-Hotel-Casino | Las Vegas Strip Las Vegas Strip The Las Vegas Strip is an approximately stretch of Las Vegas Boulevard in Clark County, Nevada; adjacent to, but outside the city limits of Las Vegas proper. The Strip lies within the unincorporated townships of Paradise and Winchester... , Paradise Paradise, Nevada Paradise is an unincorporated town in the Las Vegas metropolitan area in Clark County, Nevada, United States. The population was 223,167 at the 2010 census... , Nevada Nevada Nevada is a state in the western, mountain west, and southwestern regions of the United States. With an area of and a population of about 2.7 million, it is the 7th-largest and 35th-most populous state. Over two-thirds of Nevada's people live in the Las Vegas metropolitan area, which contains its... |
May 3, 1999 | venetian.com |
 |
Sands Expo and Convention Center Sands Expo 250px|land|right|thumb|The Sands Expo and Convention Center main entrance, Las Vegas, Nevada, Jan. 7, 2009The Sands Expo and Convention Center, at 1.2 million square feet , is the second largest convention center in the Las Vegas metropolitan area... |
Paradise Paradise, Nevada Paradise is an unincorporated town in the Las Vegas metropolitan area in Clark County, Nevada, United States. The population was 223,167 at the 2010 census... , Nevada Nevada Nevada is a state in the western, mountain west, and southwestern regions of the United States. With an area of and a population of about 2.7 million, it is the 7th-largest and 35th-most populous state. Over two-thirds of Nevada's people live in the Las Vegas metropolitan area, which contains its... |
1990 | sandsexpo.com | |
 |
 |
Sands Macao | Macau Macau Macau , also spelled Macao , is, along with Hong Kong, one of the two special administrative regions of the People's Republic of China... |
May 18, 2004 | sands.com.mo |
 |
 |
The Palazzo Resort-Hotel-Casino The Palazzo The Palazzo is a luxury hotel and casino resort situated between Wynn and The Venetian on the Las Vegas Strip in Paradise, Nevada, a suburb of Las Vegas. It is the tallest completed building in Nevada... |
Las Vegas Strip Las Vegas Strip The Las Vegas Strip is an approximately stretch of Las Vegas Boulevard in Clark County, Nevada; adjacent to, but outside the city limits of Las Vegas proper. The Strip lies within the unincorporated townships of Paradise and Winchester... , Paradise Paradise, Nevada Paradise is an unincorporated town in the Las Vegas metropolitan area in Clark County, Nevada, United States. The population was 223,167 at the 2010 census... , Nevada Nevada Nevada is a state in the western, mountain west, and southwestern regions of the United States. With an area of and a population of about 2.7 million, it is the 7th-largest and 35th-most populous state. Over two-thirds of Nevada's people live in the Las Vegas metropolitan area, which contains its... |
December 30, 2007 | palazzolasvegas.com |
 |
 |
The Venetian Macao Resort-Hotel The Venetian Macao The Venetian Macao is a hotel and casino resort in Macau owned by the Las Vegas Sands corporation. The Venetian is a 40-story, $2.4 billion anchor for the 7 hotels on the Cotai Strip in Macau... |
Macau Macau Macau , also spelled Macao , is, along with Hong Kong, one of the two special administrative regions of the People's Republic of China... |
August 28, 2007 | venetianmacao.com |
| Sands Casino Resort Bethlehem | Bethlehem Bethlehem, Pennsylvania Bethlehem is a city in Lehigh and Northampton Counties in the Lehigh Valley region of eastern Pennsylvania, in the United States. As of the 2010 census, the city had a total population of 74,982, making it the seventh largest city in Pennsylvania, after Philadelphia, Pittsburgh, Allentown, Erie,... , Pennsylvania Pennsylvania The Commonwealth of Pennsylvania is a U.S. state that is located in the Northeastern and Mid-Atlantic regions of the United States. The state borders Delaware and Maryland to the south, West Virginia to the southwest, Ohio to the west, New York and Ontario, Canada, to the north, and New Jersey to... |
May 22, 2009 | pasands.com | ||
| Marina Bay Sands | Marina Bay, Singapore Singapore Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the... |
April 27, 2010 | marinabaysands.com | ||
Las Vegas Sands also owns the Four Seasons Hotel Macao, Cotai Strip, as well as the Shangri-La, Traders and Sheraton Hotels when they open in the third quarter of 2011.
Past properties
| Image | Logo | Property | Location | Date Opened | Date Closed | Notes |
|---|---|---|---|---|---|---|
| Sands Hotel Sands Hotel The Sands Hotel was a historic Las Vegas Strip hotel/casino that operated from December 15, 1952 to June 30, 1996. Designed by architect Wayne McAllister, the Sands was the seventh resort that opened on the Strip.... |
Las Vegas Strip Las Vegas Strip The Las Vegas Strip is an approximately stretch of Las Vegas Boulevard in Clark County, Nevada; adjacent to, but outside the city limits of Las Vegas proper. The Strip lies within the unincorporated townships of Paradise and Winchester... , Paradise Paradise, Nevada Paradise is an unincorporated town in the Las Vegas metropolitan area in Clark County, Nevada, United States. The population was 223,167 at the 2010 census... , Nevada Nevada Nevada is a state in the western, mountain west, and southwestern regions of the United States. With an area of and a population of about 2.7 million, it is the 7th-largest and 35th-most populous state. Over two-thirds of Nevada's people live in the Las Vegas metropolitan area, which contains its... |
The original Sands Hotel Sands Hotel The Sands Hotel was a historic Las Vegas Strip hotel/casino that operated from December 15, 1952 to June 30, 1996. Designed by architect Wayne McAllister, the Sands was the seventh resort that opened on the Strip.... in Las Vegas - demolished on November 26, 1996. |
||||
Expansion plans
In January 2007, Las Vegas Sands was granted rights to build a $2 billion, 2,000 acre hotel and condominium complex on Hengqin Island, near Macao.In August 2007, Adelson indicated an interest in building a new casino resort in Marlborough, Massachusetts
Marlborough, Massachusetts
Marlborough is a city in Middlesex County, Massachusetts, United States. The population was 38,499 at the 2010 census. Marlborough became a prosperous industrial town in the 19th century and made the transition to high technology industry in the late 20th century after the construction of the...
, but as of 2011, gambling has not been legalized in the state.
Las Vegas Sands has been part of the industry-wide effort to legalize casino gambling in Florida
Florida
Florida is a state in the southeastern United States, located on the nation's Atlantic and Gulf coasts. It is bordered to the west by the Gulf of Mexico, to the north by Alabama and Georgia and to the east by the Atlantic Ocean. With a population of 18,801,310 as measured by the 2010 census, it...
. If successful, Sands plans to invest up to $3 billion in a Miami resort, though it faces competing plans from the Genting Group
Genting Group
Genting Group is an Asian conglomerate. It comprises four listed entities Genting Group is an Asian conglomerate. It comprises four listed entities Genting Group is an Asian conglomerate. It comprises four listed entities (namely holding company Genting Berhad (MYX:3182) and its member companies...
and Caesars Entertainment
Caesars Entertainment
Caesars Entertainment may refer to:* Caesars Entertainment, Inc., the now defunct company that was Park Place Entertainment, Bally's, and formerly the gambling arm of Hilton Hotels, and purchased by Harrah's Entertainment...
.
Ownership and stock
CEO Sheldon AdelsonSheldon Adelson
Sheldon Gary Adelson is an American casino magnate. Adelson is Chairman and Chief Executive Officer of the Las Vegas Sands Corp., the parent company of Venetian Macao Limited which operates The Venetian Resort Hotel Casino and the Sands Expo and Convention Center...
and his family currently own approximately 52% of the company. In December 2004, the company completed its initial public offering with the ticker LVS on the New York Stock Exchange at a price of $29 per share. In October 2007, the company's market capitalization
Market capitalization
Market capitalization is a measurement of the value of the ownership interest that shareholders hold in a business enterprise. It is equal to the share price times the number of shares outstanding of a publicly traded company...
peaked at $52 billion at $144.56 a share. However, because of general market declines and overall concern of the short-term financial health of the gambling industry, the market capitalization
Market capitalization
Market capitalization is a measurement of the value of the ownership interest that shareholders hold in a business enterprise. It is equal to the share price times the number of shares outstanding of a publicly traded company...
sank to approximately $1billion by March 2009.
On September 30, 2008, with the company stock trading at $36.11, Sheldon Adelson
Sheldon Adelson
Sheldon Gary Adelson is an American casino magnate. Adelson is Chairman and Chief Executive Officer of the Las Vegas Sands Corp., the parent company of Venetian Macao Limited which operates The Venetian Resort Hotel Casino and the Sands Expo and Convention Center...
and his wife, Dr. Miriam Adelson, invested $475 million in the company through a 6.5% convertible note due in 2013. Subsequent to the $475 million investment by the Adelson family, and due to a further deterioration of the global economic environment, on November 11, 2008, the company announced that it will be receiving an additional investment of $525 Million from Sheldon Adelson
Sheldon Adelson
Sheldon Gary Adelson is an American casino magnate. Adelson is Chairman and Chief Executive Officer of the Las Vegas Sands Corp., the parent company of Venetian Macao Limited which operates The Venetian Resort Hotel Casino and the Sands Expo and Convention Center...
and his family along with a raising an additional $1 billion in a secondary offering. "The Adelsons agreed to buy 5.25 million shares of preferred stock and warrants to purchase about 87.5 million shares of common stock at an exercise price of $6 each."
In November 2009, the company completed an initial public offering of Sands China Ltd., its subsidiary that owns and operated its Macau properties, and raised a total of $3.3 billion in equity capital by selling a 29% interest in Sands China Ltd.
Aircraft
There are 9 aircraft that are registered to the Las Vegas Sands Corporation, primarily used for transportation of the company's executive officers and VIP Guests of the properties.| Aircraft Type | Tail Number |
|---|---|
| Gulfstream IV Gulfstream IV The Gulfstream IV and derivatives are a family of twin-jet aircraft, mainly for private or business use. The aircraft was designed and built by Gulfstream Aerospace, a General Dynamics company based in Savannah, Georgia, United States from 1985 until 2003.-Design and development:Gulfstream, in... |
N588LS |
| Gulfstream IV Gulfstream IV The Gulfstream IV and derivatives are a family of twin-jet aircraft, mainly for private or business use. The aircraft was designed and built by Gulfstream Aerospace, a General Dynamics company based in Savannah, Georgia, United States from 1985 until 2003.-Design and development:Gulfstream, in... |
N688LS |
| Gulfstream IV Gulfstream IV The Gulfstream IV and derivatives are a family of twin-jet aircraft, mainly for private or business use. The aircraft was designed and built by Gulfstream Aerospace, a General Dynamics company based in Savannah, Georgia, United States from 1985 until 2003.-Design and development:Gulfstream, in... |
N988LS |
| Gulfstream V Gulfstream V The Gulfstream V is a business jet aircraft produced by Gulfstream Aerospace. It is also used by the US military under the designation C-37A. The G500 and G550 are improved versions which are currently in production... |
N383LS |
| Boeing 737-300 | N789LS |
| Boeing 767-300 | N804MS |
| Lockheed L-1011 Lockheed L-1011 The Lockheed L-1011 TriStar, commonly referred to as the L-1011 or TriStar, is a medium-to-long range, widebody passenger trijet airliner. It was the third widebody airliner to enter commercial operations, following the Boeing 747 and the McDonnell Douglas DC-10. Between 1968 and 1984, Lockheed... |
N388LS |
| Boeing 747SP Boeing 747SP The Boeing 747SP is a modified version of the Boeing 747 jet airliner which was designed for ultra-long-range flights. The SP stands for "Special Performance". Compared with its predecessor, the 747-100, the 747SP retains its wide-body, four-engine layout, along with its double-deck design, but... |
VP-BLK |
| Boeing 747SP Boeing 747SP The Boeing 747SP is a modified version of the Boeing 747 jet airliner which was designed for ultra-long-range flights. The SP stands for "Special Performance". Compared with its predecessor, the 747-100, the 747SP retains its wide-body, four-engine layout, along with its double-deck design, but... |
VQ-BMS |
External links
- Corporate site
- Corporate blog
- Yahoo! Las Vegas Sands company profile
- Forbes.com: Fortunes That Roared in 2004
- The Winner of Singapore Marina Bay IR - Local Newspapers on 27 May 2006