Las Vegas Sands
Line
- Sheldon Adelson, CEO
- Michael Leven, COO
- Kenneth Kay, CFO
The Las Vegas Sands Corporation is one of the leading international developers of multi-functional Resorts, based in Paradise, Nevada. The Agent include the Venetian Resort Hotel, the The Palazzo and other hotel-casino - resorts in the United States, China, Macau and Singapore. The company is listed on the 342nd place in the Fortune 500.
- 3.1 Las Vegas
- 3.2 Miscellaneous USA
- 3.3 Worldwide
History
In 1989, Sheldon Adelson and his partners bought the famous Sands Hotel. In 1990 she opened the Sands Expo and Convention Center, which is located opposite the Sands. On June 30, 1996, the Sands Hotel was closed and demolished soon after. On the surface, the Venetian Resort Hotel was built. Adelson quickly recognized the financial potential of Asia. So Las Vegas Sands opened the first American company on May 18, 2004, the Sands Macau in Macau, as in Macau gambling is legal. Adelson also saw that a billion people can be reached with a 3 -hour flight Macao. Thus, the company continued to expand and began the construction of the Venetian Macao. The hotel was, comparatively, quickly built and was opened on 28 August 2007. In 2008, Las Vegas Sands opened a Four Seasons Hotel next to the Venetian Macao.
Financial crisis
Despite the success of the company in Asia, Las Vegas Sands was hit by the financial crisis in 2008. In Las Vegas, home prices fell by a quarter, and tourists stayed away. The company's stock lost almost 98 percent of its value. To halt the downward trend, Adelson lent the company a billion dollars. Since 2009, more visitors will come back to Las Vegas, and the company again made a profit.
The company today
On 22 May 2009 the Sands Casino Resort Bethlehem, which is in Bethlehem, Pennsylvania, was opened.
On 27 April 2010, the Marina Bay Sands was opened. The Marina Bay Sands is one consisting of Casino and Hotel Resort at Marina Bay in Singapore. The resort cost $ 5.6 billion (approx. 4.6 billion Euros ).
In April 2012 it was announced that Sheldon Adelson planning a casino resort in Spain. The project is expected to cost 18 billion euros and will be implemented in several phases. In February 2013 it was announced that Adelson had chosen Alcorcón near Madrid.