Sands Macao for Sale

A report issued April 27th announced that the Las Vegas Sands is looking into selling one of its casinos in Macau. Though a gaming hotspot and the industry’s leading market, the casino and resort island peninsula off the Southeastern coast of Mainland China has not escaped the reach of the global economic crisis, as revenue from tourism continues to plummet.

The cost of the Sands Macao is US$1.3 billion (US$1 = RM3.60). Last week’s report said the Las Vegas Sands was considering selling the actual building while continuing to operate the casino within it. The purchaser would receive monthly rent based on casino profit.

Discussions regarding a possible sale began when the company’s grand shopping centers at the Four Seasons and Venetian resorts did not sell, with some speculating it was the hefty US$1 billion asking price that kept prospective buyers away.

Opened in 2004, the Sands Macao was the territory’s first foreign-owned casino. According to industry reports, the Las Vegas Sands earned back its US$285 billion investment in less than 12 months, and is largely responsible for the island’s economic development.

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