Marina Bay Sands in Singapore. Las Vegas Sands will spend more there following its Venetian sale. (Image:
Bloomberg)
COO and President Patrick Dumont confirmed the company will direct some of the proceeds from the sale of its Las Vegas Strip assets to its Singapore integrated resort. The disclosure came Thursday during the JPMorgan Gaming, Lodging, Restaurant and Leisure Management Access Forum.
Given the Las Vegas transaction, we are looking to invest more in Singapore at this point,” he said.
“We are very privileged to have reached an agreement for a new development there for expanding Marina Bay Sands.”
Last week, LVS announced the sale of the Venetian and Sands Convention Center, ending months of speculation regarding the fate of the venues. Private equity giant Apollo Global Management is acquiring the operating rights while gaming real estate investment trust (REIT) VICI Properties is buying the property. When the transaction closes, it will end LVS’s US presence
Asian attention for Las Vegas Sands Corporation
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GGRAsia – LVS to invest more in Singapore after Las Vegas sale: Dumont
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GGRAsia – LVS to invest more in Singapore after Las Vegas sale: Dumont
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