Las Vegas Sun

September 1, 2014

Currently: 102° — Complete forecast | Log in | Create an account

Las Vegas Sands weighs deal at Macau casino property

Las Vegas Sands Corp. is considering a sale-leaseback deal for one of its Macau casino properties, the South China Morning Post reported today.

The gaming operator plans to put the Sands Macao up for sale for about $1.3 billion after failing to sell its luxury shopping centers in Macau, the newspaper said.

The report said Las Vegas Sands was considering selling the building and continuing to run the casino while paying the new landlord rent based on performance.

The Post said talks for a sale-leaseback were launched when there were no takers for its shopping centers attached to the Venetian and Four Seasons resorts in Macau for the $1 billion asking price.

"It was kind of, 'OK then, if you don't want the malls, do you want the Sands?'" an unnamed source was quoted as saying. The newspaper said the source confirmed the company's gaming license was not for sale.

The Post reported analysts were skeptical of a sale-leaseback of the Sands because of the weak recent performance of the Macau gaming market -- the world's largest -- due to the recession, travel restrictions on visits from mainland China and rising competition in the gambling market near Hong Kong.

Sands officials declined comment, the Post reported.

Join the Discussion:

Check this out for a full explanation of our conversion to the LiveFyre commenting system and instructions on how to sign up for an account.

Full comments policy

Previous Discussion: comments so far…

Comments are moderated by Las Vegas Sun editors. Our goal is not to limit the discussion, but rather to elevate it. Comments should be relevant and contain no abusive language. Comments that are off-topic, vulgar, profane or include personal attacks will be removed. Full comments policy. Additionally, we now display comments from trusted commenters by default. Those wishing to become a trusted commenter need to verify their identity or sign in with Facebook Connect to tie their Facebook account to their Las Vegas Sun account. For more on this change, read our story about how it works and why we did it.

Only trusted comments are displayed on this page. Untrusted comments have expired from this story.

No trusted comments have been posted.