LV Sands may spin off Chinese assets

Howard Stutz

May 15, 2009 - 4:56 am

Las Vegas Sands Corp. may be considering spinning off its Macau assets and creating a separate publicly traded company listed on the Hong Kong Stock Exchange.

According to a Dow Jones News Service report this morning, the casino operator has hired Goldman Sachs to manage the sale.

According to sources, the news service said the Venetian Macau, Sands Macau, Four Seasons Macau and the company’s proposed Cotai Strip projects would be separated from the company’s Las Vegas holdings. Las Vegas Sands is traded on the New York Stock Exchange under the symbol LVS.

The report said the plan is in the early stages.

More affluent visitors finding their way to Vegas — and staying

By Richard N. Velotta / RJ

June 26, 2024 - 11:46 am

A new study shows that visitation is increasing and those who arrive have higher median incomes than in past years. Many of those affluent visitors are staying.

A rendering of Wynn Al Marjan Island in the United Arab Emirates. (Courtesy Wynn Resorts Ltd.)

UAE is the potential ‘Las Vegas of the Mideast’

By Richard N. Velotta / RJ

June 16, 2024 - 8:00 am

The United Arab Emirates has emerged as a potential casino industry hub in the same way Macao did in in the late 1990s. But the UAE transition could be even better.

Prominent Nevada legal firm looks back on 75 years of operations

By Richard N. Velotta / RJ

June 10, 2024 - 9:52 am

There aren’t many Nevada companies that have been around for 75 years but a prominent law firm claimed that distinction last month.

A man holds a betting sheet as he waits in line to bet on the NCAA basketball tournament at Wes ...

Neighboring Arizona makes gains on Nevada sports-betting business

By Richard N. Velotta / RJ

June 2, 2024 - 8:11 am

An expert who monitors sports wagering nationwide thinks Nevada may need to change its in-person registration policy to keep up with competitors nationwide.

People play on the slot machines during the Fontainebleau’s grand opening to the public ...

Is a change in slot-machine jackpot thresholds really coming?

By Richard N. Velotta / RJ

May 26, 2024 - 10:21 am

It’s been 47 years since the IRS established $1,200 as the level at which W2G tax forms are issued. Is that dollar amount finally about to change?

The CurlVegas curling facility on Thursday, April 25, 2024, in Las Vegas. (Ellen Schmidt/Las Ve ...

Say hello to curling, the next competitive sport in Las Vegas

By Richard N. Velotta / RJ

April 28, 2024 - 9:47 am

The convergence of Olympic curling triumphs, a Canadian fan base and a nonprofit club have laid the groundwork for a new local facility.

MGM cyberattack again in the spotlight after lawsuit, broadcast

By Richard N. Velotta / RJ

April 21, 2024 - 8:00 am

While MGM’s lawsuit against the Federal Trade Commission and a “60 Minutes” story offered new details, there are still unanswered questions about last year’s cyberattack.

Drew O'Connell (dudeguydrew) and Jason Rivkin (JayRiv) play heads-up in the World Series of Pok ...

Online poker play may be on the verge of a comeback in Nevada

By Richard N. Velotta / RJ

April 14, 2024 - 8:30 am

Two companies, Z4Poker and MGM Interactive, ask regulators to extend the activation of their licenses a 14th time so that they can enter a lackluster market.

Next Las Vegas Strip property headed for big change: The Mirage

By Richard N. Velotta / RJ

April 8, 2024 - 7:13 pm

The transition of The Mirage to Hard Rock Las Vegas will generate nostalgic memories, but it’s part of the Las Vegas way of constantly evolving to what’s next.

The Strip in Las Vegas, including including the Palazzo, Wynn Las Vegas, Fontainebleau and the ...

Fontainebleau counterclaim against Wynn got nasty in a hurry

By Richard N. Velotta / RJ

March 24, 2024 - 8:05 am

A legal expert says Fontainebleau’s response to Wynn for poaching employees sounds more like a divorce proceeding than a business lawsuit.