Facebook
Fark
Digg
Reddit
StumbleLas Vegas Sands denies report of deal for land
Tuesday, Jan. 6, 2009 | 10:51 a.m.
Sun coverage
Las Vegas Sands is denying a report from an Israeli newspaper that it will exchange stock to buy 35 acres on the Las Vegas Strip. The property is owned by developers planning to build a casino resort modeled after the Plaza Hotel in New York.
Las Vegas Sands spokesman Ron Reese said on Tuesday that the report was not true.
Deutsche Bank analyst Bill Lerner said in a note to investors that such deal would put Sands in a position of issuing more stock for a future project when it has had trouble financing projects already in its pipeline.
Elad IDB, which owns the land that used to be home to the New Frontier hotel-casino, has said it will not break ground until sometime next year.
Sands' shares were down 17 cents, 2 percent, to $8.31 in afternoon trading.
Everything Under the Sun
Blogs
The Kats Report
Las Vegas Philharmonic says search for new music director to begin 'immediately' (1 Comment)
With Shenandoah project stalled, Wayne Newton hits back legally (7 Comments)
Where does a Playmate play when she turns 21? Vegas! (3 Comments)
Ice Ice Billy
The road to six-toed cats and Mayor Bubba
The Kats Report
David Itkin tells L.V. Philharmonic officials he's on his way out (14 Comments)
Diamond Dave sells it well as Van Halen pours out the power at MGM Grand (2 Comments)
Entering debut at Tryst, Nick Hissom is a model for a rapid rise to prominence (3 Comments)
- Locally owned and independent since 1950; Winner of the Pulitzer Prize for Public Service, best news website in the nation & DuPont Award for broadcast journalism
Post a comment
Commenting requires registration.
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.
If you would like to submit your comment as a letter to the editor, you may submit it here.