TITLE

Slipping revenue in Macau spurs loss for Las Vegas Sands

AUTHOR(S)
Stulz, Howard
PUB. DATE
February 2009
SOURCE
Las Vegas Business Press (10712186);2/23/2009, Vol. 26 Issue 8, pP15
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports on the $111.3 million loss incurred by casino operator Las Vegas Sands Corp. in the fourth quarter of 2008 attributed to declining revenues in Macau. Quarterly revenues of the firm increased by 3.8 percent while its $2.1 billion capitalization effort resulted to a 51. 3 percent decline in the majority holdings of Chairman and Chief Executive Officer Sheldon Adelson. Las Vegas Sands President Bill Weidner says the firm has planned cost-saving initiatives and that its properties in Las Vegas, Nevada and Macau delivered solid cash flow.
ACCESSION #
40538038

 

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