Sands China (1928.HK), the Macau-based casino operator run by billionaire Sheldon Adelson, reported stronger-than-expected fourth-quarter earnings, driven by surging demand in the world's largest gaming market.
Casino revenue in Macau jumped 47.7 percent in February to 19.86 billion patacas ($2.5 billion), the Macau government said on Tuesday, driven by a torrent of gamblers from mainland China to the world's largest gaming market.
U.S. stocks wavered in early trade on Friday after a government report showed that U.S. added fewer jobs than forecast for January, while the unemployment rate unexpectedly declined to its lowest level since April 2009
The companies whose shares are moving in pre-market trade on Friday are: JDS Uniphase, Aetna, PulteGroup, Symantec, Tesoro, Las Vegas Sands, Fiserv and Wynn Resorts.
The top after-market NYSE gainers on Thursday are: Alliant Techsystems, Goodyear Tire & Rubber, Tyson Foods, Vonage Holdings and China Yuchai International. The top after-market NYSE losers on Thursday are: DHT Holdings, Teekay Tankers, RealD, Las Vegas Sands and Netsuite.
Billionaire Stanley Ho, the 89-year old godfather of a casino business empire based in Macau in southern China, is battling members of his own family over the control of companies that comprise his immense wealth.
Las Vegas Sands' bet on gambling-wary Singapore may be paying off. The world's most valuable casino firm said its $5.5 billion casino resort in the city state is on track to draw up to 150,000 visitors a day once things are in full swing, the highest number for any of its properties worldwide.
Business in Las Vegas is picking up, particularly on weekends, as the economy recovers, Las Vegas Sands Corp Chief Executive Sheldon Adelson said on Thursday in an interview on the CNBC network.
Singapore raised alert levels on Friday in the Asian financial centre and beefed up security at its airport and new casinos after a warning by its navy of possible attacks on oil tankers in a key shipping lane.
Sands China , the world's most valuable casino operator by market capitalization, said its 2009 net profit rose 22 percent from a year earlier, driven by a surge in gambling revenue in Macau.
Las Vegas Sands, the world's No.2 casino operator by market capitalization, said it could complete all its planned five projects on Macau's Cotai strip within five years, hugely expanding its presence in the world's biggest gambling market.
Sands China's weak debut in Hong Kong on Monday signals fading investor appetite for a casino company with a high valuation and an uncertain outlook, and cooling interest in what has been a red-hot sector.
The IPO for Las Vegas Sands' Macau assets, set to be the world's seventh-largest this year, is likely to struggle in its market debut next Monday on high valuations and waning appetite for casino stocks.
Sands China Ltd raised US$2.5 billion when it priced its Hong Kong initial public offering at the bottom of an indicated range, a source familiar with the deal said on Saturday.
Shares of Las Vegas Sands Corp rose 7 percent on Monday after the casino operator said it would look to raise up to $3.35 billion through an initial public offering of shares in its Macau business.
A Las Vegas casino company and a Chinese bank have set the price range for their upcoming Hong Kong stock offerings, hoping to raise up to $7.35 billion combined in what would be the world's fourth- and fifth-largest IPOs of the year.
Las Vegas Sands Corp may struggle to secure up to $2 billion in financing for mothballed projects and dent already-lowered valuations for the planned Hong Kong initial public offering of its Macau operations, bankers and analysts said.
Las Vegas Sands Corp is seeking $1.75 billion to $2 billion five-year financing for its subsidiary, Venetian Macau, almost one year after cancelling a $5.25 billion financing and mothballing its Macau projects, banking sources said.
Las Vegas Sands, which is seeking to raise up to $2.5 billion by listing its Macau assets on the Hong Kong stock exchange, could launch its initial public offering by late November, the South China Morning Post reported on Wednesday.
Casino operator Las Vegas Sands Corp said on Tuesday it closed the sale of $600 million in bonds ahead of an expected initial public offering of one of its units on the Hong Kong Stock Exchange.
Las Vegas Sands Corp, the world's largest casino firm, has secured commitments to raise up to $600 million through the sale of exchangeable bonds, the company said on Wednesday.
Las Vegas Sands Corp, the world's largest casino firm, has secured commitments to raise up to $600 million through the sale of exchangeable bonds, the company said on Wednesday.
