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 Stock Prices Are Fluctuating Right Now

Today, Las Vegas Sands is one of the biggest and most profitable casino companies in the world. It operates major casino-resorts around the world and continues to expand into new territories. In recent weeks, Las Vegas Sands stock prices have begun to fluctuate.Las Vegas Sands Logo

There are several reasons why this is. Today, we’re going to discuss the company’s current share prices and look at how they might change over the next few months.

Let’s get into it!

2019 Was an Interesting Year for Las Vegas Sands

Few major casino operators are as well-known as Las Vegas Sands. The company was founded back in 1988 by Sheldon Adelson, who has remained CEO ever since. Over the past few decades, this company built massive casino-resorts all over the US and abroad.

2019 proved to be a very interesting year for LVS. Gambling revenue rose and fell. In the year’s second quarter, revenue appeared to be soaring. In the third quarter, revenue earnings came in slightly lower than expected.

LVS ended the year strong financially, yet the company was forced to deal with several nagging issues. This includes a lawsuit against the aforementioned Sheldon Adelson. One of Las Vegas’ local newspapers filed a lawsuit against the CEO for attempting to monopolize the city’s news industry.

Las Vegas Sands continued to invest heavily in its overseas companies last year. This is especially true in Macau. More than $2 billion is being spent on upgrades to the properties here including the Venetian Macau, and Sands Macau.

Some felt this was a risky move. Macau’s gambling revenue has been declining due to the drop in China’s economy. Recently, Las Vegas Sands stock prices have been fluctuating and analysts are beginning to pinpoint why.

Las Vegas Sands Stock Prices Dropped This Week

Officials within LVS have been celebrating for the past few months. Since November, the company’s share prices have risen by an incredible 15%. Most of this is due to the Chinese government’s plan to diversify Macau into a major financial hub.

That’s not the only major accomplishment for the Las Vegas-based casino operator. Just last week, LVS earned a spot on the “world’s most admired companies” list for its efforts to fight against climate change. It seemed like everything was going right thus far into 2020.

This week, however, Las Vegas Sands stock prices have taken a slight hit. This is largely due to fears of the coronavirus affecting the company’s operations in Macau.

For weeks, China has been working to contain a deadly new virus known as 2019-nCoV. It originated in Wuhan and quickly spread throughout the country. There have even been recorded cases in Thailand, Japan, and the United States.

The concerns over this virus have taken a toll on LVS’ share prices. On Tuesday, the company’s stock fell 4.3% to $70.85.

This isn’t the only company that’s taken a hit due to the coronavirus.

Wynn Resorts also experienced a drop in its stock prices. Until the outbreak is contained, this trend is likely to continue.

Las Vegas Sands Continues to Push for Tokyo Casino

Las Vegas Sands, like almost all other major US casino companies, has been pushing hard to break into the newly-emerging Japanese casino market. Over the next few years, three companies will be handed out a license to operate casino-resorts in this country.

Based on several reports, Japan will grow to have one of the largest casino markets in the world. Each of these casino-resorts here will cost billions of dollars to construct.

For a time, officials within Las Vegas Sands announced they were interested in opening one of these venues in the city of Osaka. That is no longer the case. The company now claims that it is focused on opening an integrated resort in Tokyo. Many analysts believe that LVS will be one of the three companies the Japanese government chooses to grant a gaming license to.

Las Vegas Sands stock prices have temporarily dropped. Hopefully, this won’t last long. We’ll need to wait and see exactly how the virus in China affects Macau’s economy.

Stay tuned for more Las Vegas Sands news over the next few months!

Las Vegas Sands Revenue Reports Are Revealed

One of the biggest and most profitable casino companies in the world has just released it’s Q3 financial reports. Interestingly, the Las Vegas Sands revenue came in slightly lower than anticipated. It’s a disappointing blow for this company, which is currently working to expand its presence overseas.

Las Vegas Sands Logo

Today, we’re going to look at exactly how much money this company managed to bring in over 2019’s third quarter. We’ll also look at some of the things LVS has planned over the next few years. Let’s get into it!

2019 Proves to Be an Interesting Year for Las Vegas Sands

As we’ve already mentioned, Las Vegas Sands is one of the biggest and most lucrative casino companies in the world. It’s had an interesting 2019, with fluctuating revenue earnings and continued expansion in Asia. Fortunately, the company’s quarter two financial reports came out solid.

In quarter two, LVS revenue jumped by more than 15% when compared to the same month in 2018. The company recorded a net income of $1.108 billion and had a stock share price of $1.24. Rob Goldstein, CEO of the company, claimed it was the best quarter in LVS’ history.

Officials within Las Vegas Sands have made it clear that they are continuing to invest abroad. Macau, in particular, is a major investment point for this company. LVS is continuing to invest more than $2 billion into its operations in Macau.

To some, this is a cause for concern. Macau has struggled to generate revenue for almost all of 2019. The US-Chinese trade war and protests in Hong Kong have lessened the number of gamblers visiting this city. Las Vegas Sands isn’t deterred, however, and continues to pump money into its resorts here.

Unfortunately, things haven’t gone quite as smoothly over the past three months for this company.

Las Vegas Sands Revenue Reports for Q3 Are Finally Out

LVS has officially come out with its earnings report. According to company officials, it saw $3.25 billion in revenue during quarter three. Operating income fell to $899 million for a decrease of 2.5% compared to quarter 3 of 2018. Net income fell by 6.6% to just $533 million.

When comparing these figures to the year’s second quarter, the results look abysmal. Of course, it’s important to note that Q2’s earnings were significantly boosted by the sale of Sands Bethlehem. This sale provided the company with $138 million.

Sands China’s revenue dropped by 2% to $2.08 billion. Most of the decline is attributed to the Sands Cotai Central, where revenue fell by 9.3%. This popular hotel-casino is currently being converted into The Londoner.

Sheldon Adelson, the founder of Las Vegas Sands, managed to make an appearance during the company’s revenue call. The casino mogul is unfortunately battling non-Hodgkin’s Lymphoma and barely spoke. He did claim to be happy about the company’s increased shareholder dividends.

The decline in Las Vegas Sands revenue earnings isn’t too concerning. This company remains one of the most powerful casino operators in the world.

LVS Continues to Push Into the Japanese Market

Last year, Japan officially approved plans to legalize casino gambling. Over the past year and a half, lawmakers here have worked on ways to get this new industry up and running. Soon, the government will begin offering licenses to different casino companies.

Only three of these casino licenses will be handed out. Las Vegas Sands is making it clear that they want to make it into this country. Not long ago, officials at LVS claimed that they want to open a casino-resort in either Osaka or Yokohama.

Las Vegas Sands revenue figures from Q3 aren’t having an impact on these plans. Most analysts believe that Japan will become one of the most lucrative casino markets in the world. If LVS is able to break into the Japanese market, it will likely experience massive revenue gains.

Of course, competition is high. Many of the biggest US casino companies are also attempting to obtain a Japanese casino license. We’ll need to wait and see which ones are chosen by Japan’s soon-to-be-established casino regulator.

Make sure to stay tuned for more Las Vegas casino news over the next few weeks!

Sheldon Adelson is Being Sued by the Las Vegas Sun

One of the most powerful men in Las Vegas is in hot water with a local newspaper. According to several reports, Sheldon Adelson is being sued by the Las Vegas Sun. The popular newspaper claims the casino mogul is attempting to “monopolize” the Las Vegas news industry.

Sheldon Adelson

Today, we’re going to look at why exactly the Las Vegas Sun is taking legal action against Adelson. We’ll also talk about the newspaper’s decision to sue the Las Vegas Review-Journal, as well. Let’s get into it!

The Las Vegas Sun and LVRJ’s Recent Quarrel, Explained

Las Vegas is home to two main newspaper companies, the Las Vegas Sun and the Las Vegas Review-Journal. These two companies are fierce competitors, yet since 1989, they’ve been bound by an official Joint Operating Agreement (JOP) that allows them to “combine production, marketing, distribution, and sales, provided they remained competitive and editorially independent of one another.” Unfortunately, the LVRJ seems to have backed out of this agreement.

The Las Vegas Sun is now taking legal action against the Review-Journal. This company claims that by backing out of the JOP, the Las Vegas Review-Journal is making it impossible for the Sun to stay afloat. According to the Las Vegas Sun, this is all a part of Sheldon Adelson’s plan.

Back in 2015, Adelson anonymously purchased the LVRJ. It wasn’t until reporters within the company underwent their own investigation that Adelson’s ownership was revealed. All of the journalists working on this report eventually left the company.

The Las Vegas Sun believes that Adelson’s goal is to control the flow of information within Las Vegas. The company is now officially suing the LVRJ for backing out of its JOP. They’re also suing Adelson, who they claim is unlawfully monopolizing the city’s news industry.

Sheldon Adelson is Being Sued By the Las Vegas Sun

Sheldon Adelson is one of the most powerful men in the gambling industry. The 86 year old casino mogul is the CEO of Las Vegas Sands. His company owns and operates many different casinos around the world, including several in Las Vegas and Macau.

Adelson’s purchase of the Las Vegas Review-Journal was criticized by many. The Las Vegas Sun, in particular, feel that his ownership of this newspaper violates the first amendment. In the recent lawsuit, the Sun gives its opinion on Adelson’s ultimate goal.

“Defendant Sheldon Adelson has been a long-time enemy of the First Amendment and the press,” the lawsuit claims. “For decades, he has filed and prosecuted one frivolous and ultimately unsuccessful defamation case after another. His object has always been clear: chill free speech and silence those that would speak out against him.” 

That’s a major statement to make. Officials at the Review-Journal believes this new lawsuit is only being made because of the company’s decision to remove itself from the 1989 JOP. Benjamin Lipman, vice president of the LVRJ, claims that the company intends to “fight the case and we’re confident we will succeed…”

Sheldon Adelson Continues to Push into Japan

Sheldon Adelson is being sued by the Las Vegas Sun, yet it’s unlikely to have much of an impact on his company’s day to day operations. For months, Las Vegas Sands has been working hard to break into the newly emerging Japanese casino market. Last year, officials in Japan passed a bill to allow three casino-resorts in the country.

Nearly all of the top US casino companies are now working to obtain a license to operate one of these Japanese casinos. Many gambling analysts predict Japan will be one of the most lucrative casino markets in the world. Las Vegas Sands has recently claimed that it’s interested in opening in a casino-resort in either Tokyo or Yokohama.

The company is also continuing to invest in its Macau properties, which have been losing revenue for the majority of 2019. China’s trade war with the US has hurt Macau’s economy and many gambling operators in the territory are experiencing monetary losses. Las Vegas Sands isn’t deterred and continues to put billions of dollars into its Macau casino-resorts.

We’ll need to see how this new legal battle plays out. As we’ve already mentioned, many believe that Sheldon Adelson is being sued for his attempts to monopolize the Las Vegas news industry. If the Las Vegas Sun can successfully argue this in court, we may him forced to give up ownership of the Review-Journal.

Make sure to stay tuned for more Las Vegas news over the next few months!