Connect to share and comment

US firm drops Spain mega-casino plan to focus on Asia

US casino operator Las Vegas Sands dropped plans Friday to invest over $30 billion in a mega-resort that promised 260,000 jobs for Spain, where one in four people are unemployed, and would focus on Asia instead. The world's biggest casino company, owned by US billionaire Sheldon Adelson, announced in February it had chosen Alcorcon, a suburb of Madrid, as the site for what would have been Europe's largest casino resort.

Las Vegas Sands abandons Spanish mega-casino project

US casino operator Las Vegas Sands said Friday it has dropped plans to invest over $30 billion in a mega-resort scheme that promised 260,000 direct and indirect jobs for crisis-hit Spain. The company, owned by US billionaire Sheldon Adelson, said it would "continue aggressive pursuit of opportunities in Asia" where it already operates properties in Singapore and Macao. "Developing integrated resorts in Europe has been a vision of mine for years, but there is a time and place for everything," Adelson said in a statement.

Las Vegas Sands drops Spanish mega-casino project

US casino operator Las Vegas Sands said Friday it has dropped plans to invest over $30 billion in a mega-resort scheme that promised 260,000 direct and indirect jobs for Spain, where one in four people are unemployed. The company, owned by US billionaire Sheldon Adelson, said it would "continue aggressive pursuit of opportunities in Asia" where it already operates properties in Singapore and Macao.

Singapore civil servants told to declare casino visits

SINGAPORE (Reuters) - Civil servants in Singapore will have to declare visits to the city-state's two casinos under new rules intended to prevent incidents such as the recent case of a senior official from the anti-corruption watchdog charged with misappropriating money. From Oct 1, officers in more critical roles than others, for instance in regulatory or enforcement jobs, will have to declare every visit to a local casino within seven calendar days, the Public Service Division (PSD) said in a statement.

Singapore civil servants told to show cards over casino visits

SINGAPORE (Reuters) - Civil servants in Singapore will have to declare visits to the city-state's two casinos under new rules intended to prevent incidents such as the recent case of a senior official from the anti-corruption watchdog charged with misappropriating money. From Oct 1, officers in more critical roles than others, for instance in regulatory or enforcement jobs, will have to declare every visit to a local casino within seven calendar days, the Public Service Division (PSD) said in a statement.

Singapore casinos trump Macau with tourism aces

By Anshuman Daga and Kevin Lim SINGAPORE (Reuters) - Casino operators and regulators around Asia are watching Singapore's two multi-billion-dollar gaming resorts as they focus on tourists and trade shows to boost revenue in response to restrictions on gambling and a sluggish broader market. The city-state has become a playground for Asia's rich and famous, with attractions ranging from fancy clubs and restaurants helmed by Michelin-starred chefs to the world's only night-time Formula One race.

Gamblers get lucky at Genting's Singapore casino

By Anshuman Daga and Eveline Danubrata SINGAPORE (Reuters) - A stroke of bad luck. That's what casino operator Genting Singapore PLC blamed for reporting a sharply lower-than-expected quarterly profit, while also flagging a cautious outlook due to muted Chinese economic growth.

Las Vegas Sands' 1Q earnings jump 15 per cent on strength of Macau, Singapore casinos

LAS VEGAS, Nev. - Las Vegas Sands Corp. drew a record number of gamblers in Macau in the first quarter and took in more money from its Singapore casinos, helping lift net income by 15 per cent to top expectations. The company run by billionaire CEO Sheldon Adelson says there were 14 million visits to its Macau properties in the first three months of the year. Macau is the only place in China where gambling is legal.

High-rollers from China make Singapore casinos see red

By Eveline Danubrata and Anshuman Daga SINGAPORE (Reuters) - High-rollers get lavish treatment and hefty credit lines at Singapore's two casinos, like any other gaming house in the world. But here, more of them skip town without paying their debt, a matter of increasing concern for investors.

Las Vegas Sands confirms Madrid mega-casino dig

US firm Las Vegas Sands said Friday it was set to go ahead with building a huge casino near Madrid, which could create hundreds of thousands of jobs at a time of record unemployment in Spain. The controversial "Eurovegas" project plans to build four casino complexes with 12 hotels providing 36,000 rooms, nine theatres, three golf courses, and convention centres over 10-15 years. The first, most expensive phase foresees four resorts with 3,000 rooms each, casinos and leisure infrastructure for an investment of about 6.8 billion euros ($9.2 billion).
Syndicate content