A March announcement stated the Las Vegas Sands needed time to repay one of their loans, yet they are apparently looking at Brazil for a casino license.
Maybe it is the Las Vegas Sands new investment strategy, which is the Bernstein Strategic concept they are participating in during a conference that is going to allow them to afford the expansion plan.
Investment signs are good for the Las Vegas Sands hotel and casino brand, for those who want to make money, as long as the company continues on its current path. But it can all change if they decide to expand more than what they can pay.
Brazil and LVS
Las Vegas Sands has been eyeing the fifth-largest country in the world, according to CEO Sheldon Adelson. He believes there is plenty of room for growth in the country and that an integrated resort in Brazil would help the company regain losses. Adelson has been to Sao Paulo recently and did intimate that he is looking to move a casino into the area.
Adelson, who is believed to have a net worth of $40 million, stated an integrated resort investment is possible. The visit he made to Rio De Janeiro in May of last year was followed up with a meeting with Brazilian President Michel Temer. According to media sources, the meeting discussed the construction of an $8 billion integrated resort.
However, gambling is not legal in Brazil. It has been illegal since a law in 1941. There are people trying to get the legislation changed to allow a few casinos to build. Casinos would be good revenue for the country, according to those who support the idea. They feel it would help pay down the country’s debt that continues to grow. There are two bills before legislators that need to be reviewed. The bills discuss changes to the gambling laws.
Adelson is already 84. He is also on the 21st ranking for world billionaires. He does not seem to want to stop expanding his empire. Las Vegas Sands has five casinos in Macau, and several properties in Las Vegas, as well as the Marina Bay Sands in Singapore. Most of the revenue for the operations was made outside of the US in 2017. About 90% of the pre-EBITDA came from overseas operations. Las Vegas Sands has invested $11 billion in renovation projects like the Cotai Central Resort update in Macau. Adelson said he is always looking for places to expand.