Ben Lee, a Macau-based analyst at IGamiX, said: “The growing insignificance of the US market explains to you why Las Vegas Sands is looking to offload their US properties. It is 15% of revenue but 80% of regulatory pain and burden.”
A sale would leave Sands focussed entirely on its Asian casino portfolio entirely in Macau and Singapore. The operator shelved plans in May to compete in the tender to run an integrated resort casino in Japan.
News of a potential sale comes less than a week after LVS reported a group-wide operating loss of US$610 million for the three months to 30 September 2020 on an 82.0% decline in net revenue to US$586 million due to COVID-19.
The company Chairman, Sheldon Adelson, said that a “recovery process from the coronavirus pandemic in each of our markets is now under way.”
Bloomberg said LVS was currently working with an advisor to solicit interest for its Las Vegas properties.
Source: GMB
