Las Vegas Sands to Invest $8 bil in China
JULY 24, 2006. Las Vegas Sands is planning to invest more than $8 bn usd in its casino, leisure and convention facilities in Macau and on a neighbouring island over the next four to six years, the Financial Times reported.
The size of the investment is double that reported originally, the newspaper said. It quoted Bill Weidner, Las Vegas Sands president and chief operating officer, as saying: 'These development opportunities are contingent upon approvals by government at several levels and will occur in phases over time as the markets develop and mature.'
Weidner said the US company's total investments and turnover would triple as a result of its initiatives in Asia. 'Most of the company's investments and revenues will be in Asia,' he was quoted as saying.
In Macau, the company plans to spend $3 bn usd each in two phases on the Cotai Strip and is also in talks to develop Heng Qin island, a Chinese island bordering the Cotai Strip, the report said.
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