Las Vegas Sands Reports Revenue Losses From Macau Operations

Macau Logo And Sands Background

Las Vegas Sands has long been considered one of the most powerful gaming companies in the world. Unfortunately, it has faced serious difficulties increasing revenue over the past 20 months. New Las Vegas Sands reports show the company once again lost money from its operations in Macau.

Macau continues to deal with shortages in tourism. Much of this has to do with travel restrictions to and from Mainland China. Today, we’ll discuss what Las Vegas Sands has planned to combat this issue.

Here’s what you need to know.

Las Vegas Sands Reports Low Earnings From Macau Casinos

The past two years have been interesting for Las Vegas Sands, to say the least. Throughout 2020, this company seemingly could not catch a break. The death of the company’s founder was just one of the many issues LVS faced.

The company’s executives surprised analysts by announcing the sale of several Las Vegas casino-resorts. This was done, the executives claimed, so that more focus could be spent on Macau. Some predicted this would end up being a smart financial move for Las Vegas Sands, as Covid-19 infections remained fairly low in this territory.

As time has gone on, however, it’s become clear this may have been a mistake. Macau has proven hugely dependent on tourism from Mainland China. Unfortunately, the Chinese government has continuously set intense travel restrictions to and from Macau.

New Las Vegas Sands reports show the company once again lost money from its operations in Macau. Travel restrictions led to large revenue declines over the months of July and August. It remains unclear how the company will fare in Macau throughout the rest of 2021.

Some feel that it is once again time for LVS to focus more on its US operations. What new markets could the company break into?

What Does Las Vegas Sands Have Planned for the Future?

Analysts continue to debate how Las Vegas Sands will perform over the next four months. Some experts feel the company’s share prices are too low, offering lucrative investment opportunities. Others think LVS could continue facing difficulties for years to come.

This company could certainly benefit from big moves in the US market. At the beginning of 2021, executives within the company began a major push to break into Texas. Of course, doing so would require lawmakers in Texas to legalize casinos.

Little progress seems to have been made on that front. Still, lawmakers in Texas seem to be softening their stance toward gambling and LVS could make a huge splash by becoming the first major casino company to open a resort here in the future.

Officials within LVS will continue to hope that the situation in Macau begins to improve. This territory is now the company’s primary market. Unless Mainland China begins to ease its travel restrictions, Las Vegas Sands will need to continue breaking bad news to its investors.

Things remain uncertain in the US casino market, too. Could casino companies soon face a new wave of restrictions?

Officials Debate Increasing Health Restrictions on Casinos

Major casino hubs such as Las Vegas were caught in an unprecedented situation last year. Never before have these cities been forced to shut down in the way they did in March of 2020. It took a devastating toll on the businesses and residents of these cities.

At one point this year, it appeared as if the pandemic was reaching its end. New variants seem to be casting doubt on that idea. In fact, various health officials around the United States are now weighing the pros and cons of additional restrictions on various businesses.

That includes the casino industry. Will mass casino shutdowns be ordered once again? It’s very unlikely. Instead, states could begin ordering their casinos to once abide by a variety of health safety measures that could lead to low visitation rates.

It’s a complicated issue and one that seems likely to continue for quite some time. Some gaming operators are finding success in the form of legal sports betting. We’ll be sure to report more on the state of the land-based casino industry as the year continues.

Are you surprised by the latest Las Vegas Sands reports? When do you expect gaming revenue in Macau to reach pre-pandemic levels? Let us know in the comments section below.

Experts Predict a Surge for One Major Casino Stock Price

Las Vegas Sands Stock Price

Casinos around the world continue to see fluctuating revenue figures. As a result, share prices for various casino companies have been fluctuating, too. One prominent analyst is now predicting a major surge for a casino stock price.

This could be a great opportunity for investors around the world. It is also exciting news for the company that could soon experience this stock price jump.

Here’s what you need to know!

US Casino Companies Report Revenue Increases

The US casino industry has been through the wringer over the past two years. Last year was devastating for all of the major casino operators around the country, including MGM Resorts, Wynn Resorts, and Las Vegas Sands. Incredibly, these companies have completely bounced back in 2021.

Most US casino companies have been reporting consistent revenue increases over the course of 2021. This trend doesn’t appear to be slowing down anytime, either. Many casino operators have been reporting solid numbers over the summer months.

MGM Resorts International has been benefiting from its operations in Las Vegas. This country’s primary gaming hub has set several monthly revenue records throughout the year. Overall, MGM Resorts’ revenue increased by 683% over 2021’s second quarter.

The US casino industry is faring extremely well right now. Not every country is experiencing the same level of gambling revenue surges, though. Over in Macau, casinos are still struggling to bring in tourists.

This doesn’t mean the situation in Macau will last forever. In fact, some analysts expect a surge in revenue here over the next few months.

Analyst Expects a Surge for One Casino Stock Price

Macau was once the most successful gambling hub on the planet. It’s here that several of the most successful casino-resorts ever built are located. Unfortunately, intense travel restrictions set by Mainland China have limited the amount of money that these properties have been able to generate.

There is reason to believe that Macau is braced for some solid tourism and revenue increases, though. China’s government has just announced it is set to remove its travel ban with Macau. This is very likely to result in a surge of visitors to Asia’s top gaming destination.

Quint Tatro, president of Joule Financial, spoke to MSNBC this week and claims one of Macau’s casino stock prices is set to surge. That is Las Vegas Sands’ share price. This company has focused much of its operations on Macau and it appears this will soon pay off.

“The easy play is Las Vegas Sands,” Tatro said. “It was March of just this year we were on here speaking about their abrupt shift and their sale of all their Las Vegas properties to basically double down and focus on their Asia exposure. At the time, I think it was a big question mark. It still has a difficult balance sheet, it’s not the greatest balance sheet, but they do have $2 billion now in unrestricted cash that they can put where they see the best opportunity.”

Las Vegas Sands has faced a huge number of issues over the past 20 months. It will be interesting to see how Macau’s rebound will affect the company moving forward. Stay tuned for updates!

Sports Betting Companies Expect Revenue Surge this Fall

The US sports gambling revenue has been surging since the US Supreme Court struck down PASPA back in May of 2018. This year has been the best ever for this industry. All major sports betting operators continue to report revenue surges.

This fall is expected to be the best in history for the US sports betting industry. The start of the 2021/2022 NFL season should help to fuel this revenue growth. Several new states are planning to launch their first sports betting platforms by the end of this season.

Ohio, Massachusetts, and North Carolina all seem very close to formally approving sports gambling legislation. Each of these states plans to allow both land-based and online sports betting.

Sports betting companies may also see their stock prices surge as a result of this revenue growth. It is an exciting time for this industry. Stay tuned for more sports betting revenue updates over the next few months.

Do you expect to see Las Vegas Sands’ casino stock price surge this month? When will Macau reach pre-pandemic revenue levels? Let us know in the comments section below!

The Q2 Revenue Reports for Wynn Resorts Are Out

Wynn Resorts

Wynn Resorts has been one of the most successful gaming companies in the United States for many years. Unfortunately, this company continues to struggle from the lingering effects of the pandemic. Today, we’ll take a close look at the Q2 revenue reports for Wynn Resorts.

As many expected, these reports show a slight loss for Wynn. The company doesn’t seem overly-discouraged about the future, though.

Here’s what you need to know!

Las Vegas Casinos Brace for an Uncertain Fall

The US casino industry has been in an unusual position for the past year. Through most of 2020, all major US casinos were seeing massive drops in their monthly revenue figures. Things have been steadily improving in 2021, yet some worry this could be short-lived.

That is largely due to the spread of the new delta variant around the country. With this uptick in cases, health officials are recommending a new wave of restrictions. That is already the case over in the country’s gambling hub, Las Vegas.

Not long ago, city officials once again set a mask mandate in Las Vegas. All guests and employees now need to wear masks while on the casino floor. It’s not a major regulation and should not have a major impact on the city’s tourism rates.

US casino companies remain in uncharted waters, though. No one seems to know what will come about over the next few months. If more intense regulations are ordered in major casino hubs, it could end up taking a serious toll on the country’s gaming industry.

The casinos in Las Vegas are preparing for the possibility of a dull fall. Infection rates continue to climb and recommendations against travel may soon be announced. That is the worst-case scenario, of course, and there is always the chance that tourism rates continue to increase in Las Vegas as the year goes on.

We’re now beginning to hear how various casino companies performed in 2021’s second quarter. Here’s a quick look at Wynn Resorts’ revenue reports for this time period!

Breaking Down the Q2 Revenue Reports for Wynn Resorts

The United States is home to some of the most powerful gambling companies in the world. That includes Wynn Resorts, which owns and operates popular casino-resorts in places like Las Vegas and Macau. Like all other casino operators, Wynn Resorts experienced a major drop-off in gaming revenue throughout 2020.

It seems that not everything is going smoothly in 2021, either. This week, the quarter-two revenue resorts for Wynn Resorts officially came out. Some are a little surprised to see how exactly this company fared over the months of April, May, and June.

Overall, Wynn Resorts reported $990.1 million in operating revenue over 2021’s Q2. That represents a staggering increase from the $85.7 million earned over the same quarter in 2020. The company’s net loss came out to $131.4 million. Matt Maddox, CEO of Wynn Resorts, gave an optimistic take on these reports in an official statement this week.

“We were pleased to see the strong return of our guests at both Wynn Las Vegas and Encore Boston Harbor during the second quarter with adjusted property EBITDA at our US operations well above pre-pandemic levels, highlighting the significant pent-up demand for travel and leisure experiences,” he said. “While there have been some fits and starts along the road to recovery in Macau, we were encouraged by the strong demand we experienced during the May holiday period, particularly in our premium mass casino and luxury retail segments.”

When factoring in operating costs, Wynn Resorts saw a drop in revenue over 2021’s Q2. It’s still a major improvement from the second quarter of 2020. Hope is that the year’s third quarter ends up bringing considerably more revenue to the casino companies here.

All major US casino companies are working to boost their revenue figures. Here’s a look at some of the progress being made in various areas of the country.

Here’s What is Going on With Other US Casino Companies

Wynn Resorts is far from the only US casino operator dealing with issues right now. The entire gambling industry has been suffering over the past two years. Depending on how things play out over the next few months, this situation could get considerably better or worse.

All of the country’s gaming companies are now doing what they can to boost their revenue figures. Some are finding more success than others. The recent revenue reports for Wynn Resorts show this company is making improvements, yet still has room to grow.

Las Vegas Sands has been in the spotlight lately. As many know, the company’s founder Sheldon Adelson passed away last year at one of the worst points in the company’s history. News then broke that LVS was selling several of its biggest properties in the city of Las Vegas.

Lately, Las Vegas Sands has been working hard to break into Texas. Casino gambling is currently prohibited in the state of Texas. LVS is working to change this by lobbying with various gambling companies to finally allow casinos.

MGM Resorts is also staying busy. Earlier this week, news broke that this company was selling its Encore Boston Harbor venue to Vici Properties. MGM will continue to operate this venue, however, and is leasing it back to Vici.

Are you surprised to see the revenue reports for Wynn Resorts? How do you think this company will fare in 2021’s third-quarter? Let us know in the comments section below!

Here’s What We Know About the Marina Bay Sands Closing

Marina Bay Sands

Some of the world’s biggest and best casino-resorts are located in Singapore. Unfortunately, things have not gone as smoothly for these gambling venues as some have hoped. Today, we’ll explain the situation surrounding the Marina Bay Sands closing.

This property is owned by Las Vegas Sands. Its closure is the last thing this major US-based casino company wants right now. Things have been far from easy for LVS over the past couple of years.

Here’s what you need to know!

Las Vegas Sands Continues Focusing on US Expansion

There is a good chance that even the most casual gambling enthusiast is aware of Las Vegas Sands. This company was founded back in 1988 by Sheldon Adelson. It quickly expanded and is today one of the most powerful gambling corporations on the planet.

Las Vegas Sands, like all other major US casino companies, faced some serious difficulties throughout 2020. For a time, all of its gambling venues were forced to shut down. As a result, company officials began looking toward the Asian market as a way to make up for the lost revenue.

This wasn’t just a temporary strategy. Las Vegas Sands ended up selling some of its biggest and most profitable casino-resorts in Las Vegas as a way to focus more on Asia. Macau and Singapore, in particular, were seen as hot destinations for his company.

Macau has not recovered in the way that LVS officials expected. Las Vegas seems to be faring considerably better right now.  As many are aware, Sheldon Adelson also passed away earlier this year at a time when the company was struggling immensely. It added even more fuel to the fire that engulfed the company.

Las Vegas Sands now seems determined to expand more within the US again. The company is working hard to break into the currently-unavailable Georgia casino market. It is also doing what it can to allow Class III casinos in the state of Texas.

The hits keep coming for LVS. We’re now beginning to hear more information about the recent closing of this company’s biggest casino-resort in Singapore.

Reports Have Confirmed the Marina Bay Sands Closing

Las Vegas Sands is still one of the most powerful gaming companies in the world. It currently owns several major casino-resorts throughout Asia. That includes the Marina Bay Sands, which opened to the public in 2010.

This property has been one of LVS’ flagship venues over the years. The company has been banking on this venue finding success in 2021. Unfortunately, that may take longer than initially expected.

Reports have surfaced this week confirming the Marina Bay Sands closing. Officials within Singapore have ordered this venue to close until August 5 to undergo a “deep cleaning.” The Ministry of Health in Singapore claims this was done in an attempt to be as thorough as possible in its attempts to limit the spread of Covid 19.

“In these unprecedented times, we continue to be vigilant on all fronts, working closely with the authorities to respond and adapt quickly to the situation,” it said. 

This property managed to report earnings of $112 million throughout the second quarter of 2021. That is a massive increase from the losses sustained in 2020. Closing down will certainly lessen Q3’s revenue figures, yet hope is that it can fully reopen to the public again in early August.

Las Vegas Sands will likely continue looking at US casino expansion. What other states could this massive gambling corporation possibly move into in the future?

More States Look to Embrace Casino Gambling

The entire US gambling industry is expanding at a rapid pace right now. Much of this has to do with the legalization of sports betting across the country. Some states are also expressing an interest in expanding their casino regulations, as well.

Illinois is home to one of the largest casino industries in the country. Back in 2019, lawmakers here approved a capital plan to allow several more commercial casinos to open around the state. That includes one in the city of Chicago.

Virginia also seems focused on getting its first casinos up and running. This state has prohibited traditional Class III gambling venues for decades. The Lottery Board recently approved the set of casino laws here, however, sending final approval to allow casinos to the Governor’s desk.

Sports betting has already proven to be massively successful in Virginia. The state has seen a huge increase in its monthly revenue figures over the past six months. This is likely to continue with the start of the upcoming NFL season just around the corner.

These states simply cannot ignore the massive revenue potential on the table. There has never been a more exciting time for gambling enthusiasts around the country. Hope is that US gambling companies like Las Vegas Sands continue to find success, despite the hiccups along the way.

Were you surprised to hear about the Marina Bay Sands closing? Do you expect this property to remain closed longer than expected? Let us know in the comments section below!

Las Vegas Sands has Donated Millions to Florida Political Body

Las Vegas Sands

Las Vegas Sands has been working hard to expand over the past few years. This major US gaming company now seems focused on entering Florida’s market. Reports have confirmed that Las Vegas Sands has donated millions to one of Florida’s political committees in another effort to break into the state.

LVS is hoping this helps them secure a move into Florida’s growing casino industry. The company may also benefit from the expected legalization of sports betting here. Now is a great time to look at what exactly is happening with this situation.

Let’s get into it!

Las Vegas Sands Continues to Focus on Expansion

The past couple of years have been difficult for Las Vegas Sands. The company immediately saw its revenue figures plummet after the US land-based casino industry shut down. The closure of all casinos in Las Vegas, in particular, proved devastating for this company.

It took months for the casinos across Nevada to reopen. Most casinos in Las Vegas reopened in June, yet tourism figures in the city remained extremely low. To make things worse, Las Vegas Sands founder Sheldon Adelson passed away last year amid the company’s struggles.

Las Vegas Sands operates a huge number of popular casinos across Asia. Like the US, most casinos across Asia were forced to shut down for months throughout 2020. It appeared, for a time, that the Asian casino industry was recovering faster than the US industry.

This didn’t make it past the officials within LVS. To the surprise of many analysts, officials within this company sold several of their biggest and most profitable US casino-resorts to focus more on operations in Asia. That includes The Venetian Casino-Resort located on the Las Vegas Strip.

This hasn’t exactly gone as planned. The tourism situation in Macau has been slower to recover than many anticipated. This is due largely to Mainland China’s constantly changing travel restrictions to and from the territory of Macau.

It now seems that Las Vegas Sands is beginning to focus more on US expansion once again. Will this company soon break into the emerging Florida casino market?

Reports Confirm Las Vegas Sands has Donated Millions in Florida Recently

Florida was once seen as one of the more anti-gambling states in the country. Things have changed lately, however, and there are now some truly world-class gambling venues operating here. These venues are all tribal-run, and no commercial casinos have been given permission to operate within the state.

Las Vegas Sands wants to see this change. The company has been taking a close look at breaking into Florida’s gaming industry for years. It’s not a surprise, as LVS has also been working to break into other Southern states like Texas.

New reports from the Las Vegas Review-Journal have surfaced this week claiming Las Vegas Sands has donated an astounding $17 million to a major Florida political committee called Florida Voters in Charge. This comes in an attempt for the company to secure a spot on the voting ballots. Essentially, LVS wants to gain public permission to open a casino-resort here.

Not long ago, Florida Governor Ron DeSantis approved a new measure that further restricts gambling in the state to the Seminole Tribe. LVS is working to change this law already. Donating to this political committee seems to be their primary strategy to accomplish that goal.

There is clearly a lot happening with Florida’s gaming industry. Several major commercial gaming companies have expressed interest in operating here recently. Unless something changes with the Seminole Tribe, however, that seems unlikely to happen.

Many are also looking forward to Florida’s legalization of sports betting. It appears that many companies are now focused on launching sports gambling operations here.

More Companies Push Florida to Legalize Sports Betting

The US sports gambling industry has been expanding rapidly since 2018. Today, more than 30 states across the country have approved measures to get this form of gambling regulated. Most of these states are earning a huge amount of revenue, as a result.

New reports have also surfaced this week claiming several of the country’s top sports betting companies have been investing into Florida in an attempt to get sports gambling legal. That includes DraftKings and FanDuel.

These sports gambling operators are supporting a new constitutional amendment that would formally allow Florida to legalize sports betting. They donated this money to the Florida Education Champions political committee, which is pushing for sports gambling to become commercially available in the state. If approved, the amendment could unravel the recent deal struck between DeSantis and the Seminole Tribe.

“Thank you to DraftKings and FanDuel for stepping up to the plate in an incredible way to kick off our amendment process that stands to help all Floridians. Our amendment will direct hundreds of millions of additional dollars toward Florida’s Educational Enhancement Trust Fund and open up the market for online sports betting to competition,” said David Johnson, chairman of this political committee. 

Florida is home to some of the most passionate sporting fans in the country. It seems likely that a huge amount of tax revenue will come from the commercial legalization of sports gambling here. Stay tuned for updates over the next few months!

Are you surprised to hear that Las Vegas Sands has donated so much into Florida? Will this company ever open a casino in this state? Let us know in the comments section below.

$12B Claim Filed Against Las Vegas Sands in Macau Court

Macau Casino Skyline

U.S gambling giant Las Vegas Sands is facing a $12B lawsuit in a Macau court. The case, filed by a former partner, alleges that Las Vegas Sands breached its contract with Asian American Entertainment for a casino license in Macau.

Asian American is demanding to be paid damages worth 70% of Las Vegas Sands’ profits in Macau from 2004 to 2022. The amount was estimated by news agency Reuters to be $12B.

Businessman Marshall Hao, who heads Asian American Entertainment, is positive about his company’s latest legal move. Said Hao:

“Asian American has been winning all major legal battles in the Macau lawsuit since we filed it in 2012…we are confident.”

Las Vegas Sands Changing Partners

The case dates back to a transaction in 2001 where Sands and Asian American submitted a joint bid for a gaming license in Macau. During the process, Sands changed partners by teaming up with Hongkong’s Galaxy Entertainment instead.

The Las Vegas Sands-Galaxy Entertainment consortium ended up getting awarded a gaming concession in the former Portuguese colony more than 10 years ago. According to Asian American, Las Vegas Sands terminated its joint venture with Asian American and submitted a similar proposal with a different partner.

Sands lodged legal actions in Nevada and Macau to avoid trial. In 2019, the company said that the current lawsuit has no merit and they are confident that the Macau justice system will arrive at the same conclusion.

Long-Standing Court Case

Las Vegas Sands has been battling Asian American since 2007 when the lawsuit was filed in a United States court. After the U.S. case was dismissed because of statute of limitations and procedural reasons, Asian American lodged the case again in Macau in 2012.

The trial, which will begin on June 16th, is expected to shed light on how coveted casino licenses were awarded in Macau, which was the gambling capital of the world two decades ago.

It comes just months before Las Vegas Sands’ casino license in Macau will expire and at a time when its revenues have dropped due to the health and travel restrictions brought about by the COVID-19 pandemic.

Casino Plans in Texas Are Being Stalled Once Again

Casino Floor

For years, certain officials within the gambling industry have been working to get legalized casinos in the state of Texas. It hasn’t been easy and many lawmakers have been pushing against these plans. New reports claim that the casino plans in Texas are being shut down once again.

It’s disappointing news for gambling enthusiasts in the state. Many believe that a legalized casino industry would help to boost revenue and tourism in Texas. Now is the perfect time to talk about why these plans are being stalled.

Let’s get into it!

Major Casino Companies Continue Pushing into Texas

There are a number of major casino hubs throughout the United States. Nevada remains the biggest and most lucrative in the country. New Jersey has also recovered over the past decade and is another hugely successful gambling destination.

The US also has a number of smaller up-and-coming casino hubs. Places like Colorado and Illinois are working hard to expand their number of gambling venues. Lawmakers in Illinois are even working hard to get a major casino-resort opened in the city of Chicago.

Many believe that Texas has the potential to become one of the country’s largest gambling hubs. This is one of the most populated states in the country. A growing number of individuals and politicians here have been claiming that a regulated casino industry would be hugely beneficial for the state.

Las Vegas Sands has been one of the biggest companies pushing to get casinos in Texas. Officials within LVS have been actively meeting with Texas lawmakers to get regulations changed. It hasn’t been easy for the company, which has already been dealt several bad hands over the past year.

Texas has been known as an anti-gambling state over the past few decades. There are almost no regulated forms of gambling available here. As time goes on, more individuals are complaining about this fact.

Unfortunately, it doesn’t appear that Texas will launch its casino industry anytime soon. Here’s what we know about this situation.

State Official Shoots Down Casino Plans in Texas

Texas has banned all land-based casinos for years. Like many other southern states, Texas believes that allowing casinos will result in additional crime and gambling addiction issues. As time goes on, more officials in the state are beginning to see the upside in this industry.

Many hoped that casinos would become legal in Texas before the end of 2021. Las Vegas Sands seemed to be making some real progress with its marketing efforts in the state. News has now broken that the casino plans in Texas are being put on hold, for now.

State Representative John Kuempel revealed that casinos will not be legalized in the state this year. In the end, the regulations failed to get approved during the state’s legislative session.

“There’s not time for it to pass this session,” he said. 

This isn’t a complete shock for analysts to hear. Texas is still home to a majority of anti-gambling lawmakers. It will take time for these officials to change their stance on this industry. Things are moving, though, and many are confident that casino regulations will be approved here within the next five years.

Sports betting has also been a major talking point for lawmakers in Texas over the past year. As many know, the US sports betting industry has been steadily growing since May of 2018. There are some clear signs that Texas is beginning to embrace this industry.

Many things need to be done in order for sports betting to become available in Texas. Here’s a look at when this form of gambling will become available here.

Will Texas Legalize Sports Betting in 2021?

The United States is now home to the largest sports betting industry in the United States. This all began after PASPA’s removal in 2018. This decision allowed every state in the country to legalize and regulate this industry.

Since that time, many have been calling to get its sports betting industry up and running. This state is well-known for having one of the largest sports markets in the country. The state would likely see a massive amount of revenue come in from a regulated sports betting industry.

Like casino gambling, it does not appear that 2021 will be the year that sports betting becomes available here. Regultaions were not approved before the end of the state’s legislative session. There is reason to hope that things change in 2022.

Many of the country’s most anti-gambling states are now looking into sports betting. It’s proven to be a massive source of valuable tax money for different states. There is also a massive demand among sports fans for regulated wagering options.

A lot could change in Texas over the next few years. It’s clear that lawmakers are beginning to change their stance toward this industry. We’ll be sure to offer updates on this situation over the next few months!

Are you disappointed to hear that casino plans in Texas are being postponed? When do you expect sports betting to become available here? Let us know in the comment section below!

Casino Restrictions in Texas May Soon be Lifted

Texas State Flag

The state of Texas is well-known for having some tough laws towards the gambling industry. No casinos are allowed here, despite the recent push by many lawmakers. This week, we heard more about how the casino restrictions in Texas could eventually change.

A growing number of individuals here are pushing to see legal casinos in the state. It’s a long, complicated process to get these venues up and running, though. Now is a great time to discuss what needs to happen for casinos to open in Texas.

Let’s get into it!

Casino Revenue is Jumping Around the Country

The land-based casino industry is beginning to recover from the events that unfolded last year. It’s been a long-time coming. For more than 12 months, gaming revenue around the United States was lower than it had been for years.

As vaccine distribution ramps up, travel is beginning to increase around the US. Many are choosing to head to major gaming hubs such as Las Vegas and Atlantic City. Tourism rates here have been gradually increasing as the months go on.

Las Vegas is benefiting in a big way. The casinos here are now seeing a steady increase in their visitation rates. Many analysts now believe that this summer will end up being a hugely successful month for the casinos in this city. On June 1st, the gaming properties here will be given permission to operate at 100% capacity.

Atlantic City’s gaming industry is bouncing back in a big way, too. Officials have been reporting consistent jumps in revenue lately. Some of the casinos here are now preparing to see a major influx of tourism as June approaches.

Most of the country’s smaller casino markets are also seeing a revenue increase. It’s great news for the industry and proves that gaming companies have found a way to recover. Now, many of these companies are interested in expansion.

Texas is currently prohibiting any traditional Class III casinos from opening their doors. It appears that could change in the near future.

Las Vegas Sands Pushes to Change Casino Restrictions in Texas

The gaming laws in Texas are notoriously strict. Casinos here have been completely prohibited for many years. As a result, many Texans head to nearby states such as Oklahoma to play their favorite games. Many in Texas are tired of seeing this money flowing to neighboring states.

Several prominent lawmakers have been pushing to get legalized casinos in the state. Others believe it could increase crime and gambling addiction. It’s become a major talking point and Governor Greg Abbott claims it should be up to state residents to decide on whether or not to allow gambling venues.

Las Vegas Sands has been one of the biggest casino companies pushing to get casinos legalized in Texas. This week, the company began undergoing a major marketing campaign to help gain support for casino legalization. These ads focus on the fact that so much revenue is flowing into nearby states.

“This November, the Legislature can allow Texans to vote to build four world-class destination resorts and casinos, bringing those dollars back to Texas,” one of the advertisements claims. “Let’s boost our economy, create tens of thousands of jobs and help fund vital services like schools and public safety.”

Lawmakers in Texas met today to further discuss the gambling industry. Many are hopeful that a majority of leaders here finally begin to see the upside in having a regulated casino industry. It seems likely that Texas could develop one of the largest casino markets in the country.

Las Vegas Sands is certainly doing everything it can to change casino restrictions in Texas. This company is also focusing its efforts on operations overseas.

Is Macau Still an Attractive Destination For LVS?

Macau has been going through a lot of changes lately. Earlier this year, Las Vegas Sands founder Sheldon Adelson passed away due to cancer. It was a tough blow for one of the country’s biggest gambling operators.

Not long afterward, the company announced it was selling two of its biggest properties in Las Vegas. LVS claimed it would begin focusing more of its operations on Asia. This company owns and operates several major casino-resorts in this part of the world.

Some are now questioning if this was a wise decision. The economy of Las Vegas is beginning to bounce back in a big way. Casinos here are finally beginning to see a steady increase in their monthly revenue figures.

Macau, however, continues to struggle in a big way. There are still some intense travel restrictions set in place between here and Mainland China. Fewer Chinese nationals are making the trip to Macau with these rules set in place.

There’s no doubt that Macau remains one of the world’s biggest gambling destinations. It may take longer for this city to recover than Las Vegas, though. We’ll need to wait and see how LVS chooses to focus its operations as the year goes on.

Do you think 2021 is the year that casino restrictions in Texas will change? Let us know in the comments section below!

What’s Happening With Las Vegas Sands in Singapore?

Marina Bay Sands

Las Vegas Sands remains one of the biggest and most powerful casino companies in the world. Not long ago, the company sold some of its major US properties to focus more on operations in Asia. There are still issues the company is facing, though. Today, we’ll talk about what is happening with Las Vegas Sands in Singapore.

LVS owns a major casino-resort in Singapore called the Marina Bay Sands. Recently, this venue has been under investigation for money-laundering.

Here’s what you need to know!

Las Vegas Sands is Now Focusing on Operations in Asia

The world’s casino industry is still in bad shape. That is particularly true in the United States. Major US casino companies have been seeing massive revenue declines for more than a year. Many have been forced to take drastic action to make up for these losses.

That includes Las Vegas Sands. This company is known to own and operate some of the most opulent gambling venues in the world. Unfortunately, the company’s revenue figures have been low for the past year.

News recently broke that Las Vegas Sands had sold some of its biggest gambling venues in the US. That includes The Venetian in Las Vegas, Nevada. These sales were made in order for LVS to focus more of its operations on the Asian market.

Macau is a major focus point for the company. Las Vegas Sands operates many of the biggest and best gambling properties in the city of Macau. This territory seems to be recovering faster than the US market and is helping to bring Las Vegas Sands some much-needed revenue.

Singapore is also a city that is important to Las Vegas Sands. LVS owns one of the most successful casino-resorts in the city. Unfortunately, it seems that this property is now in hot water over reports of illegal activity.

Officials within Las Vegas Sands are now investigating this issue. Now, we’ll talk about why this venue is being looked at.

There’s an Investigation into Las Vegas Sands in Singapore

Singapore is now one of the biggest casino destinations in Asia. Several major casino-resorts are based here including the Marina Bay Sands, owned by Las Vegas Sands. This venue opened its doors to the public on April 27, 2010.

It’s been a major success over the years. Millions flock to this venue every year to take part in the gambling and entertainment options it offers. Unfortunately, new reports claim that this property is now being investigated for potential money laundering activities.

A committee of three independent board members is now investigating money transfers from high-rollers to other players at this property. It comes after an investigation was announced by a major US law firm. This all began after one high-roller revealed that millions of his dollars were transferred to another player without his knowledge.

Law officials in Nevada and Singapore have not yet commented on this issue.

It now appears that many more of these transfers took place between 2008 and 2018. These wires seem to be legal on the surface. There are questions, however, about whether or not doing so without specific permission is allowed.

This is the last thing that LVS needs to deal with right now. The company has been under serious pressure lately after the selling of The Venetian and the death of founder and longtime CEO Sheldon Adelson.

It’s unclear exactly how this situation will play out. The most likely option would be a change of policy and perhaps a fine. It seems highly unlikely that the Marina Bay Sands would be ordered to shut down over this investigation.

The casino industry in the United States is beginning to improve. We’re starting to hear more about what will lead to the recovery of Las Vegas.

Analysts Expect a Successful Summer for Las Vegas Casinos

The city of Las Vegas remains the world’s biggest casino destination. This relatively small city in Nevada is home to many of the most successful gambling venues on the planet. Since March of 2020, however, gaming revenue here has been on a steady decline.

There are signs that things are improving here, though. Gambling revenue has been slowly increasing here in recent months. Tourism figures are surging and casinos are increasing their operating hours, as a result.

Many analysts now expect a successful summer for the casinos in Las Vegas. Travel is beginning to jump around the country and it seems that a major tourism boom will be experienced here over the summer.

The opening of new properties should also result in a tourism boom. Many are excited to see Resorts World Las Vegas finally open this summer. It cost $4.2 billion to construct, making it the most expensive gambling venue to ever open its doors here.

There is a lot happening with major US casino companies. Hopefully, the situation with Las Vegas Sands in Singapore ends up being settled without any major issues. We’ll be sure to offer updates over the next few weeks.

What do you think about the situation with Las Vegas Sands? Let us know in the comments section below!

Here’s What We Know About the Las Vegas Sands Property Sales

Venetian Las Vegas

Las Vegas Sands is one of the biggest and most profitable casino companies on the planet. It’s been struggling since March of 2020, however, and is now looking for new ways to generate revenue. Today, we’ll talk about the new Las Vegas Sands property sales being reported.

This company has been hinting at major casino sales for more than a year. Some are surprised to hear which venues LVS is parting ways with, though.

Here’s what you need to know about this situation.

Gaming Revenue in Las Vegas Took Another Dive in January

The world’s gambling industry has yet to recover from the events that unfolded in 2020. That is a tough pill to swallow for the many casino companies around the world. Nevada, home to the biggest gaming industry in the US, is still seeing fairly low revenue figures.

January saw another drop in gambling revenue here. Overall, the state brought in just $761.85 million in taxable revenue. That represents a massive 26.58% drop in revenue when compared to January of 2020.

Clark County, where Las Vegas was located, generated $617.3 million in revenue in January. The Las Vegas Strip brought in the vast majority of this money. $312.5 million was brought in from this area of Las Vegas.

Many believe things are beginning to improve in Nevada, though. Monthly revenues are increasing here. Tourism numbers are up and several major gambling properties here have recently chosen to begin operating 24 hours per day once again.

Las Vegas Sands has been discussing major Las Vegas property sales for months. It appears the company is now finally ready to move forward with these sales. New reports indicate this massive company is ready to give up some of its most profitable venues.

It’s a fascinating time for the city of Las Vegas. Now is the perfect time to talk about what exactly is happening with Las Vegas Sands.

The Las Vegas Sands Casino Sales Have Been Confirmed

There has been a lot of media attention placed on Las Vegas Sands over the past year. This company was one of the hardest-hit from the casino shutdowns back in March of 2020. As the months went on, officials within the company started discussing ways to make up for the low revenue figures.

To make things worse, the company’s founder Sheldon Adelson passed away earlier this year. He was responsible for growing this company to what it is today. His passing was felt throughout the world’s casino industry.

Months ago, rumors began circulating that LVS was looking to sell some of its biggest gaming venues in Las Vegas. Many doubted these claims. Properties such as The Venetian and The Palazzo have been some of the most popular in Las Vegas since they first opened.

It now appears these reports were true. Two major Las Vegas Sands property sales have just been confirmed. LVS has officially announced it has agreed to a $6.25 billion deal with Apollo Global Management and VICI Properties to sell The Venetian and the Sands Expo and Convention Center.

Las Vegas Sands is now putting its focus on Macau and Singapore. Chairman and CEO Robert Goldstein gave a statement on this situation to the media today.

“The Venetian changed the face of future casino development and cemented Sheldon Adelson’s legacy as one of the most influential people in the history of the gaming and hospitality industry,” Goldstein said. “This company is focused on growth, and we see meaningful opportunities on a variety of fronts. Asia remains the backbone of this company and our developments in Macau and Singapore are the center of our attention.”

The Las Vegas Sands property sales could end up being a fantastic move. No one knows when Las Vegas will begin seeing a true recovery. Macau, however, seems on the brink of a major tourism and gambling revenue surge.

More Casino Companies Are Focusing on Operations in Macau

Las Vegas is and probably always will be the biggest gambling hub in the United States. Macau holds that title in Asia. This country is home to a large number of world-class casino-resorts owned by many different US casino companies.

The casinos in Macau have been open for more than a year. Due to travel restrictions between Mainland China, however, these venues have seen very little revenue. It’s been a tough blow for the companies operating properties here.

Not long ago, Macau’s government lifted mandatory quarantine requirements to Mainland China. Many analysts believe this will lead to a massive surge in tourism. More Chinese nationals will be able to make the trip here now that quarantine is no longer required.

As a result of this news, many companies are focusing more on their operations in this city. Some analysts believe this city could grow to become a very valuable location for US casino companies in the near future.

Las Vegas Sands clearly sees the potential in Macau. This company is agreeing to part ways with one of its biggest and most successful casino-resorts in history. Hopefully, this decision pays off in the long-term.

Are you surprised to hear about these Las Vegas Sands property sales? Do you think we’ll see more casinos sold in Las Vegas this year? Let us know in the comments section below.