Who Will End up Buying Las Vegas Sands Casinos?

Las Vegas Sands Casinos

The past eight months have been some of the hardest in history for US casino companies. No one could have anticipated that this industry would still be struggling today. Not long ago, Las Vegas Sands announced it was interested in selling some of its largest gaming properties. We’re now beginning to hear which companies may end up buying Las Vegas Sands casinos.

LVS, like many other major casino operators, continues to see low revenue figures. We may begin seeing more of these companies announce property sales in the near future.

Let’s take a look at where the company’s casinos may end up!

Casino Revenue Remains Low Around the United States

The US casino seemed to be growing at a rapid pace around the country for the past few years. More states were passing laws to open new gambling venues. Revenue was flowing in and gambling fans were given more options to play their favorite games.

In March of this year, all of the progress that had been made come to a screeching halt. All casinos around the United States were forced to shut down due to health concerns. It took months for major gaming destinations to begin opening back up.

Simply reopening didn’t prove to be a perfect solution. Many people around the country are unwilling to travel while a pandemic rages on. A hurting economy also means fewer individuals are wanting to risk their money gambling.

Casino companies are being hit extremely hard. Many, including Wynn Resorts, have begun shutting down properties on certain days of the week to cut down on costs. These new hours are expected to remain in place until visitation rates return to normal.

Some companies are taking even more intense measures. Las Vegas Sands recently announced it was interested in selling some of its biggest US casinos. It was shocking news to hear from such a powerful gaming operator.

We’re now beginning to hear which companies may be interested in taking over LVS’ properties.

Here’s Which Companies Could End Up Buying Las Vegas Sands Casinos

Las Vegas Sands was founded back in 1988 by gambling mogul Sheldon Adelson. Over the next three decades, the company grew to become one of the world’s largest casino operators. Today, LVS owns casinos in Nevada, Macau, and Singapore.

Prior to 2020, things seemed to be going smoothly for this company. No one could have expected that company officials would be looking to sell their biggest venues in the US. This is the year to expect the unexpected, though.

Back in October, news broke that Las Vegas Sands was interested in getting rid of several US properties. The reports began spreading like wildfire. Analysts were quick to predict the companies interested in buying Las Vegas Sands casinos.

There seem to be a few leading candidates right now. Gaming analyst Chad Beynon recently spoke with the Las Vegas Sun about the companies most likely to take control of these venues. He claims Crown Resorts, Tillman Fertitta, and Galaxy Entertainment are all possibilities.

“Buying Venetian and Palazzo, that’s not just buying a property on the Strip, that’s buying a convention business,” he said. “The buyers that were looking at Caesars, they’re probably the same ones that would at least look at this. Tilman Fertitta was interested in Caesars, so I certainly think he’d be interested. On paper, it seems like that could work.”

As of now, no companies have announced a direct interest in these purchases. There are obviously many factors that need to be considered. It’s clear that Las Vegas Sands has some exciting options ahead, though.

Will Caesars look to continue expanding with more casino purchases?

Caesars Entertainment May be Interested in More Property Purchases

It wouldn’t be a surprise if you’ve heard about Caesars Entertainment in the news recently. Over the past two years, this company has been involved in several massive deals. The biggest, of course, being the merger with Eldorado Resorts.

Back in 2019, Eldorado Resorts agreed to pay an astounding $17 billion to take over Caesars. It was the largest casino company purchase in history. In order to get the deal approved, these companies needed to sell many of their different casinos around the country. The merger was finally approved earlier this year.

In September, news broke that Caesars had agreed to pay $3.7 billion to acquire William Hill’s US assets. William Hill is one of the largest sports betting companies in the world. This acquisition gives Caesars tremendous leverage in this new industry.

Some now feel that Caesars will end up buying Las Vegas Sands casinos. It’s clear that officials within the company including Tom Reeg are interested in expansion. At this point, however, no one knows if more Las Vegas properties are appealing.

The land-based casino industry is in uncharted waters. No one can predict how things will look six months from now. Make sure to stay tuned for updates over the next few months!

Are you surprised that LVS is selling its properties in Nevada? Which company do you think will purchase them? Let us know in the comments section below!

Gaming Revenue in NV Drops Again in September 2020

Las Vegas Sign and a Man Gambling at at a Roulette Table

Nevada has seen a drop in gambling revenue for months. Many analysts hoped that the casinos here would be back to normal by this time, or at least something close to normality. Unfortunately, new reports have just surfaced that show gaming revenue in NV has dropped once again in September, 2020.

This is what everyone hoped they would not see. The major casino-resorts in this city have been hurting badly for most of this year. Today, we’ll take a look at how much gambling revenue different areas of the state managed to bring in.

Let’s get into it!

More US Casinos Ask For Additional Funding From the Government

Nevada is not the only state seeing its casino industry in peril. Every state around the country has seen significant drops in gambling revenue throughout 2020. That includes other major gaming destinations including New Jersey, Louisiana, and Mississippi.

This is terrible news for both casino companies in the country and the thousands of individuals employed in this industry. If casinos fail, many lose their jobs and cities lose out on valuable money. It’s a serious issue that many have been trying to fix for months.

Earlier this week, officials within the American Gaming Association began pleading for more relief aid from the federal government. This group claims that many major casinos around the US are now in danger of failing. The AGA wants to ensure that casino companies will be included in any future relief bills.

Some gambling companies are finding valuable revenue in the form of sports betting. 24 states have now approved sports gambling legislation. States such as New Jersey are now seeing hundreds of millions being placed on sports every single month.

The US is now home to the largest sports betting market in the world. Many major European sports betting companies are now trying to break into this industry. Casinos may be hurting, yet sports betting continues to thrive.

We’re now seeing how much the casino industry in Nevada managed to bring in during September.

Reports on Gaming Revenue in NV for September Are Finally Here!

We’ve been covering the casino revenue reports in Nevada for the entire year. It’s been disappointing to see how many of the casino companies in this state have been bleeding money. Unfortunately, nothing changed during the month of September.

New reports from the Nevada Gaming Control Board show that gaming win in September was 22.4% lower when compared to the same month in 2019. The amount of money the casinos brought in was very similar to last month. Certain areas of the state were hit harder than others.

Overall, revenue in Clark County came out to $666.7 million. The Las Vegas Strip took the biggest hit in the entire state with a 39.1% decrease compared to September 2019. The casinos here managed to bring in just $354.7 million. Downtown Las Vegas saw a slightly-less-dramatic 21.5% drop in gaming revenue.

Most predicted that gaming revenue in NV would fall once again in September. Not many felt things would continue to drop by such large levels, though. No one can accurately say when Nevada’s massive gambling industry will get back to pre-pandemic levels.

Casino companies based in Las Vegas are now scrambling to come up with ways to save money. That includes laying off employees and closing down some of their properties for certain days of the week. Some companies are even discussing major casino sales.

Here’s what is happening in this city.

Las Vegas Sands is Interested in Selling US Casinos

For decades, Las Vegas Sands has been one of the most powerful casino companies in the United States. The Sheldon Adelson-run company has major properties all around the world. Like all other casino companies, LVS has been experiencing major drops in revenue throughout 2020.

Things appear to be getting dire for this company. Reports recently surfaced that Las Vegas Sands is interested in selling several of its major casino-resorts in Nevada. This deal could bring the company upwards of $6 billion.

Many analysts were surprised to hear that Las Vegas Sands was interested in selling some of its biggest properties. A move like this would only be done if it was completely necessary.

The idea that Macau would help to save companies like LVS has not turned out to be true. Casino earnings in the Chinese territory have been extremely low this year. It could be years before this trend changes.

We may see more major casino-resort sales soon. Casino companies may begin shifting their focus more towards online casino gambling and sports betting. Hopefully, relief aid helps these companies maintain their popular gaming venues.

Are you surprised to hear that gaming revenue in NV has dropped again? When do you expect things to improve here? Let us know in the comments section below!

Las Vegas Sands Reportedly Eyeing Sale of US Casinos Properties

Exterior View of the Marina Sands

Gambling operator Las Vegas Sands Corp. is exploring the the sale of its Las Vegas strip properties in a deal that could fetch $6B for the Sheldon Adelson-led corporation.

Las Vegas Sands is said to be currently working with an adviser to gauge and solicit interest for the Venetian Resort Las Vegas, the Palazzo, and the Sands Expo Convention Center.

According to people privy to the matter, Adelson is eyeing to focus on Asia while temporarily leaving the U.S. gambling market. A representative from Las Vegas Sands confirmed the the discussions but added that they are still in the early stages and nothing has been finalized yet.

Focusing in The Far East

If a sale is consummated, Las Vegas Sands would concentrate its casino operations in Macau and Singapore whose markets are much larger than the United States. While Las Vegas may be the more traditionally popular gambling destination, Macau is the biggest casino market in the world.

The company’s U.S. operations accounted for only 15% of the Sands’ total revenue in 2019. On the other hand, Macau accounted for 63% of the company’s $13.7B revenue last year while Singapore contributed 22% of that amount.

The insignificance of its U.S. market is said to be the main reason why Las Vegas Sands is studying to unload its key Las Vegas Strip properties. That plus the uncertainty of when Las Vegas is going to bounce back, have reportedly convinced Sands to focus in the Far East. Sands is reportedly eyeing an expansion in both Macau and Singapore with the company earmarking $2.2B in spending. A sale of its U.S. properties would fund that plan.

Asia is Bouncing Back Faster

The casino industry, which is dependent on air travel, is one of the hardest hit industries by the COVID-19 pandemic. As of June 30, 2020, the company reported a total outstanding debt of $13.2B excluding finance leases. If the Las Vegas situation doesn’t improve soon, it will lead to more losses for the company.

On the other hand, Macau is bouncing back faster. During an earnings call last week, chairman Sheldon Adelson revealed that the steady recovery of the Asian gambling market helped improve the company’s third quarter figures. Meanwhile, Marina Bay Sands had a profitable third quarter of operations.

Las Vegas Sands was founded by its current chairman, CEO, and majority shareholder Adelson who ranks among the wealthiest people in the world with a net worth of $29.7B. Las Vegas Sands is currently valued at around $37.5B.

Las Vegas Sands Named as One of the Best Employers in the U.S.

Las Vegas Sands Corp
Las Vegas Sands Corporation was named as one of the best employers in the United States. In an article published by Forbes on Monday, Las Vegas Sands was officially included in its list of America’s Best-in-State Employers.

Said Sand chairman and chief executive officer Sheldon G. Adelson:
“Our company has built an enduring reputation as a global hospitality and business leader, due in large part to the dedication of our Team Members and leadership team. Our inclusion on the Best-in-State Employers list reinforces and validates that that reputation is well-earned. We set the standard for delivering an exceptional guest experience, maintaining consistently solid financial operations and being a responsible corporate citizenship in our communities, making them better places to work and live.”

Convention-Based Integrated Resort Pioneer

Las Vegas Sands Corporation is the largest developer and operator of world-class Integrated Resorts. It is considered as the trail blazer in the convention-based Integrated Resort Model model which combines state of the art convention facilities with luxury hotel rooms, world class gaming, and a wide-range of other attractions and offerings.

Its properties include two Las Vegas Strip attractions in The Venetian and The Palazzo. It is also the owner of the iconic Asian resort Marina Bay Sands in Singapore. The casino operator also owns the largest properties on the Cotai Strip in Maco, including The Venetian Macao, The Plaza, and Four Seasons Macao.

The company was established by Sheldon Adelson in 1988 when he and his business partners bought the famous Sands Hotel and opened the Sands Expo and Convention Center across the hotel. The 1.2M square foot property is the largest privately owned convention facility in the world.

Best-Liked Companies List

Forbes collaborated with market research company Statista to identify companies that are best-liked by employees. To come up the list Forbes and Statista conducted an independent survey of 80,000 Americans working for businesses with at least 500 employees. The respondents were asked to rate, on a scale of 1 to 10, how likely they would recommend their employer to others.

The first survey was held last year and a ranking of the top 1,430 employers that received the most recommendations in each of the 50 states, as well as in the District of Columbia, was published. On Monday, Forbes released the 2020 list on its site. The list based on surveys conducted from the period of October 2019 to May 2020.

Here’s Why Macau Casino Share Prices Are Surging

Macau remains one of the world’s top casino destinations. For months, however, tourism into the city has been sparse and gambling revenue is dropping. Interestingly, Macau’s casino share prices have begun to increase this week. Today, we’re going to look at why this is.Wynn Resorts In Macau

Casino companies have to be pleased with this development. Many have been hurting badly through 2020. Some feel that Macau may end up being a source of valuable revenue for these companies heading into 2021.

Let’s look at what’s going on here!

US Casino Companies Continue to Release Revenue Reports

Casinos around the world are still being heavily affected by the global pandemic. The US remains the hardest-hit country from this new virus and casinos here are struggling to bring in players. It’s unclear when this trend may begin to change.

In recent weeks, some of the country’s biggest casino companies have begun releasing their second-quarter revenue reports. Things are about as bleak as most analysts predicted. All of these companies saw massive drops in revenue when compared to the same quarter in 2019.

Las Vegas Sands experienced a massive 97% drop in revenue in 2020’s Q2. Over these three months, the company managed to bring in just $98 million. That represents the worst quarter in the company’s history.

Wynn Resorts also offered some insight into its second-quarter earnings. This massive casino operator saw a 95% drop in revenue. Company officials are confident thing will look significantly better through July, August, and September.

It’s been a tough year for the land-based gambling industry. Many casinos have already been forced to permanently shut down. More are likely to do so over the next six months.

More focus is beginning to shift towards Macau, where rates of tourism may be about to increase.

Macau Casino Share Prices Have Begun to Increase

As we already mentioned, tourism into Macau has been almost non-existent for months. Much of that was due to the travel restrictions that mainland china set on this territory. In the past, visitors to Macau were forced to quarantine for two weeks after returning to the mainland.

Officials in Macau have been complaining about these regulations. Many felt they made it impossible for the tourism industry here to thrive. It now appears that the government in Mainland China agrees.

Authorities in the Hong Kong and Macau tourism offices have confirmed that visitors to these cities will no longer need to quarantine after returning to the mainland. Visitors will, however, need to obtain a negative Covid-19 test and a green health code in order to return home.

It seems likely that this will help to increase tourism to Macau. As a result, many Macau casino share prices have begun to increase. Melco Resorts & Entertainment saw an increase of 5.41%. Las Vegas Sands saw a 4.07% increase. Wynn Resorts’ share prices increase by 4.14%. Lastly, MGM Resorts International saw an increase of 1.42%.

It’s great news for these companies. It may be more than a year before casinos in the US see their revenue earnings return to normal. Hope is that Macau manages to make up for some of the revenue losses experienced in the United States.

What else can US casinos do to increase their earnings?

Online Gambling is Growing More Popular in the US

Many gambling fans have been disappointed to see their local casinos either closed or with significant restrictions set in place. As we mentioned earlier, many of these venues may be forced to permanently close down. The popularity of online gambling is now growing as a result.

Many love the convenience that these sites offer. It can also be exciting to see how many different gambling options these websites provide.

Sports betting is more popular now than ever before. More than 20 states have passed laws to legalize and regulate this industry. Many more are likely to do so over the next couple of months.

The surge in online gambling is likely to continue for some time. As more states earn money from their internet gambling industries, more states are likely to begin looking into its regulation, as well. Hopefully, the land-based casino industry begins to recover soon, as well.

We’ll need to wait and see how Macau casino share prices change as the weeks go on. It will be interesting to see how quickly tourism rates jump here with China’s travel restrictions now lifted. Make sure to stay tuned for updates.

Do you plan on visiting Macau anytime soon? Let us know in the comments section below!

Las Vegas Sands Announces New Plan to Pay Workers

Casino companies around the United States are working hard to bring in revenue right now. Some are being forced to lay off a huge number of their employees as a way to cut down on costs. New reports are now surfacing that indicate Las Vegas Sands plans to continue paying its workers through October.Las Vegas Sands Logo

It’s great news for the employees of this company. Some are surprised at the news, considering the recent revenue reports on this major casino company. Today, we’re going to look at some of the strategies that LVS has planned to survive the next few months.

Let’s get into it!

Nevada’s Casino Companies Continue to Lose Revenue

If you told some of the officials within Nevada’s biggest casino companies in January that the Las Vegas Strip would be forced to shut down for months, they probably would have laughed. It seemed almost impossible at the beginning of this year. For almost three months, however, that’s exactly what happened.

As Covid-19 started to spread throughout the United States, leaders in Nevada began looking at safety plans. Eventually, the decision was made to shut down all of the casinos in the state. At that time it wasn’t entirely clear how big of an impact this would have.

The effects of the casino shutdown became clear right away. The state’s tourism industry immediately shut down. Many local businesses that were tied to this tourism industry began losing an incredible amount of money.

As we’ve already covered, Nevada’s casinos were allowed to reopen on June 4th. Since that time, rates of tourism here have fluctuated. This week, reports on gambling revenue in Nevada for the month of June were released. As many predicted, the casinos here earned considerably less than they did in June of 2019.

Las Vegas Sands also recently released their revenue reports for 2020’s second-quarter. Company officials announced that revenue was down 97% from the same three months last year. Some felt this drop in revenue would result in major job layoffs.

Interestingly, that doesn’t appear to be the case.

Las Vegas Sands Will Pay Workers Through October 31st

The US casino industry is in a very unusual position. Some casino companies are now focusing much more on their online gambling platforms. Others are trying to improve their safety measures to make casinos more appealing to players.

Of course, as revenue continues to drop, casino companies are being forced to take more drastic measures. Many are now laying off thousands of workers around the country. It’s sad news for many who rely entirely on these gambling venues for employment.

Not every casino company is taking these measures, though. This week, Las Vegas Sands CEO Sheldon Adelson released an official statement that confirms the company’s commitment to its employees. Here’s what the company is promising.

“This pandemic has not only changed how our business operates; it has changed almost everything about our daily lives,” the statement said. “What has not changed is our commitment to you.”

Incredibly, Las Vegas Sands has announced that it will pay all of its employees until at least October 31st. Hope is that by then, revenue figures will be significantly higher than they currently are. It’s great news seeing LVS committed to its employees.

As of now, Las Vegas Sands seems to be the only US casino company that has not laid off its workers. We’ll need to wait and see how this company manages to increase its revenue flow over the next couple of weeks.

All Atlantic City Casinos Are Now Open to the Public

Las Vegas has been open for almost two months. Over in Atlantic City, things are just finally starting to come together. Governor Phil Murphy started allowing casinos in New Jersey to reopen in early July. Now, every casino in this city is now open again.

The Borgata Hotel-Casino officially opened its doors this past Sunday. As many already know, this casino is the biggest revenue-earner in Atlantic City. Some experts feel that the opening of this venue will help to boost tourism in this city.

Unfortunately, not all of the casino companies here are not taking the same approach as Las Vegas Sands. Some are being forced to lay off a huge number of workers. Many unions are now calling for better job safety for casino employees.

Infection rates of Covid-19 continue to increase around the country. While this happens, fewer people around the country are interested in traveling. This means that casino companies are likely to continue losing money.

Everyone wants to see things get back to normal. The US casino industry is in a very unusual position right now and some feel it may never truly get back to normal. Hope is that casinos find new and effective ways to increase revenue and keep their workers employed.

Are you surprised that Las Vegas Sands is taking this approach? Let us know in the comments section below!

The Las Vegas Sands Revenue Reports Are Out!

Las Vegas Sands is one of the biggest and most successful casino companies in the United States. Unfortunately, it’s been experiencing a major drop in earnings over the past few years. This week, the Las Vegas Sands revenue reports surfaced and many are shocked to see how far things have dropped.Las Vegas Sands Logo

The truth is that all US casino companies are seeing their revenue figures decrease. This is a tough time for this industry. Today, we’re going to look at how much money LVS managed to bring in during 2020’s second quarter.

Let’s get into it!

Tourism in Las Vegas Continues to Drop

Las Vegas is home to the world’s greatest casino-resorts. Some of these were constructed decades ago. Others are brand new. There are even a huge number of world-class properties being constructed here right now!

Unfortunately, tourism into Las Vegas has been dropping steadily over the past few weeks. As you probably already know, rates of Covid-19 continue to increase around the United States. That’s certainly the case in Nevada.

Nearly 40,000 cases have already been reported in this state. The vast majority of cases are in Clark County. Thousands of new cases have been recorded in Clark County over the past couple of weeks alone.

The casinos in Las Vegas rely on tourism. Unless visitors are flocking to the city, these massive properties won’t earn any money. It’s no surprise that most casinos here have been seeing their revenue drop considerably.

Hotel-casinos in the city are doing everything they can to increase their profits. Some have decided to cut down on the number of rooms available. Others are offering travel deals to attract more players. None of these efforts seem tremendously successful.

We’re now starting to hear about exactly how much money the casino companies here are losing.

Here’s What the Las Vegas Sands Revenue Reports Say

We all knew that casinos in Nevada are hurting. With that being said, it’s jarring to see exactly how much money these properties are losing. Over the past couple of days, more of Nevada’s casino operators have been reporting on their second-quarter revenue earnings.

The Las Vegas Sands revenue reports are coming out. According to these reports, this massive casino company has seen its revenue drop by an incredible 97% last quarter when compared to the same three months in 2019. That makes this the worst quarter in the company’s history.

Through April, May, and June, this company brought in just $98 million. That’s an incredible drop from the $3.3 billion made over the same three months last year. Chief Operating Officer Rob Goldstein spoke about the reports during a media conference call this week.

“We’re in a world of hurt here, in terms of Las Vegas,” Goldstein said. “Vegas is dependent on airlift, it’s dependent on group and convention. It’s not a casino-driven market anymore, so we’re struggling here. And I think I speak for Las Vegas – Venetian and Palazzo – that I assume that may translate to other properties as well.”

CEO Sheldon Adelson claims that the recovery process is underway. It’s guaranteed that 2020’s third quarter will be better than the second one. Unfortunately, things are likely to remain very tough for this company throughout the year.

Are any of these companies in danger of going under?

Looking at the Future of the US Casino Industry

The entire world is in an unprecedented time right now. A huge number of industries have been affected by the global pandemic. Some may never recover. Many analysts are trying to understand the long-term effects on the land-based casino industry.

Obviously, things are incredibly difficult for casino companies right now. If rates of Covid-19 begin to drop, however, the industry could be poised for a major comeback. Many international casino destinations with low infection rates are seeing their gambling revenue increase.

Some of the smaller casinos may end up being forced to permanently close down. That’s unlikely to happen with the big ones, though. These companies are likely to receive funding from the government.

Most US casino companies are now focusing on their online gambling operations. Ones with property in states with legal sports betting are seeing their earnings come mostly from this industry. Of course, the real money will always be in gamblers playing inside the casinos.

Only time will tell how long it takes for casino revenue to return to the way it was in 2019. There are many factors in play that will have an impact.

Are you surprised to see the Las Vegas Sands revenue reports? How much money do you think this company will make in quarter three of this year? Let us know in the comments section below!

Here’s an Update on the Reopening of the LV Venetian

Las Vegas is home to some of the biggest and best casino-resorts in the world. That includes the Venetian Casino-Resort, located directly on the Strip. This week, officials within the Las Vegas Sands Corp. offered an exciting update on the reopening of the LV Venetian.Venetian and Palazzo Casinos in Las Vegas

Many believe this is the best casino in Nevada. Today, we’re going to discuss when the Venetian may allow guests to return. We’ll also look at what some of the other casino companies in Las Vegas have planned for the future.

Let’s get into it!

Las Vegas Casino Guidelines Have Been Approved

Things are very different in Las Vegas right now. They have been for months. Casinos remain shut down and the normally-bustling Strip is now essentially empty. People around the country have been discussing when the city can finally get back to some sense of normalcy.

That can’t be accomplished unless casinos reopen. This city is known as the gambling hub of the United States. Some of the world’s best gambling venues and hotels are located here and under normal circumstances, they make a killing.

All of the casinos in Nevada have been closed since March. It’s been devastating for this city that’s known to rely so heavily on its gambling and tourism industry. Fortunately, things may begin to change over the next few weeks.

Not long ago, Nevada’s Gaming Commission officially approved a set of guidelines to reopen the casinos here. This government body seems to feel that enough safety measures can be set in place to keep the public safe inside these gambling venues. Some are complaining that these guidelines have not been made public, though.

This approval was a big moment for the state and many of its residents. Reopening casinos is one of the most important ways to restart the state’s economy. This week, one of the biggest and most beloved casino-resorts in Las Vegas revealed it’s likely to open back up next month.

Officials Offer Exciting Update On the Reopening of the LV Venetian

Those who have been to Las Vegas have probably checked out The Venetian Casino-Resort. It was first constructed back in 1999 and is considered one of the best venues in the entire city. When included into the entire Venetian Resort Complex, it’s the second-largest hotel in the world.

The Venetian is owned and operated by Las Vegas Sands, one of the biggest and most profitable gaming companies in the United States. Like all other casino companies in Las Vegas, LVS is losing an incredible amount of money every day due to the current regulations. That may finally change next, though.

Today, this casino’s website revealed that it’s accepting reservations beginning on June 1st. A new company statement claims that the reopening of the LV Venetian will come in several stages. Fortunately, the casino floor is expected to open back up, as well as more than a dozen restaurants.

This casino-resort will be operating under the Venetian Clean guidelines. This is intended to minimize the risk to guests and staff. This casino also claims it will test all employees for Covid-19 in the weeks leading up to opening day.

Many are already getting excited. The reopening of the LV Venetian means that more major casino-resorts are set to do the same. Hope is that enough tourists begin flocking to the city to start turning things around.

Here’s what some of the other major Las Vegas casino-resorts have planned.

More LV Casino Companies Prepare for Reopening

Las Vegas Sands is just one of many companies currently suffering from the casino shutdown in Nevada. As time goes on, however, more of these companies are beginning to make plans for a major reopening. That’s especially true now that The Venetian plans to accept guests next month.

MGM Resorts is working to entice guests in a number of ways. News has just surfaced that the company will offer free parking upon reopening. Owners of the Cosmopolitan Hotel & Casino are taking the same approach.

Wynn Resorts has been working on reopening plans for weeks. It seems likely that thermal cameras will be installed inside the casino to detect those with a fever. There’s even a rumor that Las Vegas Sands is considering purchasing Wynn Resorts.

Things are stranger in Las Vegas right now than ever before. No one really knows how things will look even after the casinos open their doors to guests. Will Las Vegas stop being what it grew so popular for?

The reopening of the LV Venetian is now slated for June 1st. Nevada’s state leaders are likely to comment on this decision over the next few days.

Are you excited to see casinos open back up in Las Vegas? Will things be the same as they were before here? Let us know what you think in the comments section below.

Las Vegas Sands is No Longer Interested in Japan

Las Vegas Sands is one of the biggest and most successful casino companies in the United States. For years, this company has discussed opening a new casino-resort in Japan. Interestingly, news is now coming out that this company is giving up its plans to break into the Japanese market.Las Vegas Sands Logo

It’s not entirely surprising. It will be very tough for any major casino company to invest billions into a new property right now. Today, we’re going to discuss the reasons that Las Vegas Sands is now choosing to stay out of Japan.

Let’s get into it!

Officials Within LVS Continue Looking at Plans to Reopen Las Vegas Casinos

The past two months have been the hardest-ever for Las Vegas casino companies. All of the companies with casino-resorts in this city have seen their revenue plummet after being forced to shut down. Incredibly, it’s still unclear when exactly casinos in Las Vegas will be able to open their doors again.

That isn’t stopping casino companies from coming up with plans to reopen their casinos. Las Vegas Sands has been one of the most active companies working to reopen its gaming venues. Company officials have proposed many measures to safely allow guests in again.

Fortunately, things are improving. Last week, the Nevada Gaming Commission approved a set of guidelines for reopening casinos. This government body wants to ensure that casino companies are taking the necessary steps to protect their employees and patrons.

Company officials at LVS already have several safety measures planned. That includes multiple Covid-19 tests for its employees. As most already know, this company owns and operates the Venetian and Palazzo Hotel-Casinos. LVS plans on doing multiple tests for its employees before the casinos reopen.

If all goes according to plan, things will start getting back on track sometime in June. Until that time, however, companies like Las Vegas Sands will continue to lose a huge amount of revenue every single day. News is now coming out that this company is giving up its plans to break into Japan.

Las Vegas Sands Announces it’s Giving Up Casino Plans in Japan

For many years, Japan had some of the strictest gambling laws in the world. The government here worked to ban virtually all forms of traditional gambling. To the surprise of many, things changed in 2018 when lawmakers here decided to legalize casinos.

Under the set of laws, three casino-resorts will be given permission to open in this country. Many analysts predict that Japan will quickly grow to become one of the most lucrative casino markets in the entire world. As a result, many of the top casino companies in the United States have been pushing to obtain a casino license here.

That includes Las Vegas Sands. Initially, this company announced it wanted to open an integrated resort in the city of Osaka. Later, it abandoned these plans and claimed it was focused on opening a gambling venue in Tokyo.

Now, it seems this company is giving up its plans to break into the Japanese market. According to a report by Bloomberg, the fact that casino licenses would only be good for 10 years was a major factor in this decision. LVS CEO Sheldon Adelson released a statement on this situation to the media this week.

“We are grateful for all of the friendships we have formed and the strong relationships we have in Japan, but it is time for our company to focus our energy on other opportunities,” Adelson said. 

Many believe the situation at home in Las Vegas is also playing a major factor in this decision. It would cost an incredible amount of revenue to open a Japanese casino-resort and at the moment, all US casino companies are bleeding money.

Which Major Casino in Las Vegas Will Open First?

In some ways, casino companies in Las Vegas have been in a race to reopen. All of the companies here have been working with city and state officials on ways to safely resume operations. With guidelines now approved, many feel we’re just a few weeks away from seeing the Las Vegas Strip reopen.

It’s still unclear which of these casino-resorts will be the first to reopen. Not long ago, we reported that some of MGM Resorts’ properties including the New York-New York Hotel & Casino and The Bellagio might be the first to open again. Some now feel that the casinos owned by Las Vegas Sands will be the first to start accepting guests again.

As we mentioned earlier, this company already has a number of safety measures set in place. Guests and employees will be required to wear masks. Thermal cameras may also be installed to identify those with fevers.

Some feel Wynn Resorts will be the first casino company to get things back on track. Not long ago, news broke that this company saw its revenue decline by 42% for the first three months of the year. Officials are doing everything they can to change that trend for 2020’s second quarter.

The truth is that no one knows when Las Vegas will start getting back to normal. Things are constantly changing and Governor Steve Sisolak may decide to extend the state’s current measures. It’s an incredibly tough situation.

We’ll need to wait for more news on Las Vegas’ casino plans. Stay tuned for updates!

Las Vegas Sands Company Suspends Dividend Program

The Venetian Las VegasBecause of the impact the coronavirus crisis has made on Las Vegas’ economy, Las Vegas Sands made the decision to suspend its dividend program, according to a statement made on Thursday from Sheldon Adelson, the company’s Chairman and CEO.

The decision was made with strong consideration of how well their balance sheet would fare, with Adelson calling it a “necessary component” when it comes to long-term stockholder value.

Adelson, who is the largest shareholder of Las Vegas Sands company, assured the public that his goals and interests are “directly aligned” with the interest of every shareholder. It’s through their balance sheet that Adelson believes the company will bounce back victoriously from the virus’ impacts.

Those interests are future-oriented and optimistic, according to Adelson. The company foresees many strategic opportunities coming out of its decision to suspend the dividend and looks forward to watching those opportunities come to life once the virus is out of the question.

Adelson also added that the company will revisit the dividend suspension whenever the first reasonable window presents itself.

Company’s Most Recent Dividend

The company’s latest dividend was recorded on Jan. 29. During that last dividend, quarterly dividends of $0.79 per share were taking place.

That’s a lot lower than their 2019 amount per share for dividends, which was $3.08 per share.

Back in 2019, Las Vegas Sands board of directors announced their plans to raise the company’s recurring common stock dividend .10 cents higher, to $3.16 per share in 2020. This is according to filing information found on the Securities and Exchange Commission.

COVID-19 Impact on Las Vegas Sands Corp.

In Adelson’s statement, he explained how in his over seventy years in business, that he’s never seen anything like the economic impact caused by the coronavirus crisis on their business, calling it “unprecedented.”

In March, shares of casino giant Las Vegas Sands (NYSE:LVS) fell 27.2%, according to data provided by S&P Global Market Intelligence. In April, shares dropped 10.7%.

Luckily, Las Vegas Sands has over $4 billion of cash on its balance sheet. That’s good news, along with the fact that the company’s Asia properties are open for business (In February, their properties closed for 15 days before reopening).

If the company’s Macau and Singapore properties are able to able to bring in cash flow during this time, it could be the financial support that could bridge in the gap of losses being incurred on the American properties’ front.

Uncontrollable Factors

While we’re glad that Las Vegas Sands is taking a resourceful and optimistic approach to the economic downfall caused by COVID-19, we do understand that for things to look back up for the industry, it will depend on several uncontrollable factors.

Some of those factors include the extent and duration of the outbreak, the response of government authorities, general economic conditions, operational results, cash flows, development processes, liquidity and more.

COVID-19 Impact on Las Vegas as a Whole

A recent study found that Nevada’s economy ranked as the second most vulnerable in the country after Maine.

It makes sense. The town is built around tourism and gaming, and with social distancing guidelines in full effect, it cancels out the reality of a traditional Vegas in the meantime.

Traditional Vegas which like droves of crowds gathered together, walking on the Las Vegas Strip and admiring the sites, gamblers going in and out of casinos, touching slot machines and playing at table games and what have you.

The Vegas we all know and love simply could not exist during a global pandemic on this scale. With casinos closed and nonessential businesses shuttered, it helps to avoid a possible disastrous spread of the virus.

Las Vegas Sands Still Serving as a Major Community Aid During Crisis

While Las Vegas Sands has been hit hard by the pandemic, much like every other major casino operator in Las Vegas and the rest of the country, the company has still found ways to support the community in big ways.

On April 1, the company announced they would be donating two million pieces of protective personal equipment (PPE) to Nevada and New York.

They sent one million masks each to each state and provided the local healthcare industry with 20,000 protective suits.

The company also pledges to give $250,000 to local organizations that help in providing food and other vital supplies to individuals during the COVID-19 crisis.

About Las Vegas Sands Corp.

The Las Vegas Sands Company is an American casino and resort company based in Paradise, Nevada.

It includes world-famous US properties The Venetian, The Palazzo, Sands Expo & Convention Center in Las Vegas, as well as its overseas Asian properties in Macau and Singapore, including Sands Macao, The Venetian Macau, The Plaza Macao, The Parisian Macao, Marina Bay Sands, and Sands Cotai Central.

Stay Tuned

With the casino closures lasting until April 30, unless Gov. Sisolak decides to further extend the order, it’s no surprise that casino operators are looking for resourceful ways to keep themselves afloat amid the economic downfall caused by COVID-19.

We hope that casinos not only in Las Vegas but the rest of the country will be able to come back strong and in good standing once everything blows over and returns to normal.

Until then, we’re keeping the faith and staying on top of the coronavirus coverage in Las Vegas.

Be sure to keep checking back for updates to see how the situation will continue to unfold in Sin City.