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Las Vegas Sands may increase stake in Sands China following sale of Las Vegas assets

04/22/2021| 2:15:46 PM|

Las Vegas Sands may use some of the proceeds from the recent sale of its Las Vegas assets to fund a further increase in its shareholding of Macau subsidiary Sands China Ltd.

Las Vegas Sands may use some of the proceeds from the recent sale of its Las Vegas assets to fund a further increase in its shareholding of Macau subsidiary Sands China Ltd.

The possibility was floated by LVS President and Chief Operating Officer Patrick Dumont during the company’s 1Q21 earnings call early Thursday morning (Asia time), with the company still assessing how best to deploy an impending US$6.25 billion windfall. LVS currently holds a 69.94% stake in Sands China.

“It’s definitely something that we think about and will consider over time,” Dumont said.

“From our standpoint, we still believe in the long-term future and success of Macau as a world-leading tourism destination and as Rob has said before we plan to invest more there in non-gaming.

“Where we’re at now is we don’t have the proceeds yet, we’re looking at the options and with a focus on returns. We’re looking at new developments, we’re looking at developing more in the markets that we’re in and I think [increasing our stake] will be something we think about.

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TAGS: Sands China | Macau | investment
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