Las Vegas Sands
| Las Vegas Sands Corp. | |
|---|---|
| legal form | Corporation |
| ISIN | US5178341070 |
| founding | 1988 |
| Seat | Las Vegas , United States |
| management |
|
| Number of employees | 49,000 |
| sales | 12,196,000,000 USD |
| Branch | Entertainment , hotel |
| Website | www.lasvegassands.com |
| As of December 31, 2016 | |
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The Las Vegas Sands Corporation is one of the leading international developers of multi-functional resort , located in Paradise , Nevada . The company owns the Venetian Resort Hotel , The Palazzo and other hotel-casino resorts in the United States , China , Macau and Singapore . The company is listed in Fortune 500 at 342nd place .
history
In 1989 Sheldon Adelson and his partners bought the famous Sands Hotel . In 1990 they opened the Sands Expo and Convention Center , which is located opposite the Sands. The Sands Hotel was closed on June 30, 1996 and demolished a little later. The Venetian Resort Hotel was built on the site. Adelson quickly recognized Asia's financial potential. Las Vegas Sands was the first American company to open Sands Macau in Macau on May 18, 2004 , as gambling is legal in Macau . Adelson also saw that a billion people can reach Macau on a 3-hour flight. So the company expanded further and began building the Venetian Macao . The hotel was built relatively quickly and opened on August 28, 2007. In 2008, Las Vegas Sands opened a Four Seasons Hotel next to the Venetian Macao .
Financial crisis
Despite the company's success in Asia, Las Vegas Sands was also hit by the 2008 financial crisis . In Las Vegas house prices fell by a quarter and tourists stayed away. The company's stock lost almost 98 percent of its value. To stop the downward trend, Adelson loaned the company $ 1 billion. Since 2009, more visitors have come to Las Vegas, and the company is making a profit again.
The company today
On May 22nd, 2009 the Sands Casino Resort Bethlehem , which is located in Bethlehem , Pennsylvania , opened.
Marina Bay Sands opened on April 27, 2010 . Marina Bay Sands is a casino and hotel resort on Singapore's Marina Bay. The resort cost $ 5.6 billion.
In April 2012 it was announced that Sheldon Adelson was planning a casino resort in Spain. The project is expected to cost 18 billion euros and will be implemented in several phases. In February 2013 it was announced that Adelson had chosen Alcorcón near Madrid. Ultimately, the investor could not come to an agreement with the government and the project was buried in late 2013.
In 2012, the US Department of Justice and the US Securities and Exchange Commission investigated Las Vegas Sands for a possible violation of the Foreign Corrupt Practices Act in Macau.
Casinos and Hotels
Las Vegas
Rest of USA
- Sands Casino Resort Bethlehem
Worldwide
- Sands Macau , Macau
- The Venetian Macao , Macau
- Sands Cotai Central , Macau
- Marina Bay Sands , Singapore
Web links
Individual evidence
- ↑ Information on hoovers.com , accessed April 16, 2012
- ↑ a b Las Vegas Sands 2016 Form 10-K Report , accessed April 9, 2017 (PDF file; 1.0 MB), accessed April 9, 2017
- ^ Fortune 500 - Our annual ranking of America's largest corporations , accessed April 16, 2012
- Jump up ↑ Kursraketen: From Zero to Hundred , accessed on April 16, 2012
- ↑ Las Vegas Sands says Singapore casino opening delayed , accessed April 16, 2012
- ↑ Entrepreneur wants to build mini Las Vegas in Spain , accessed on April 16, 2012
- ^ Alcorcón, de ciudad dormitorio a capital de juego europea. elpais.com from February 8, 2013 (Spanish), accessed on February 8, 2013
- ↑ Sebastian Schoepp: US billionaire is building Las Vegas in the Spanish desert. sueddeutsche.de from September 11, 2012, accessed on February 7, 2013
- ↑ "Euro Vegas" Las Vegas offshoot in Spain is not built spiegel.de of December 13, 2013, accessed on August 25, 2015
- ↑ Peter Henderson, James Pomfret, The criminal probe of Sheldon Adelson's casino empire , Reuters, February 8, 2012