LVS Teases Marina Bay Sands-Esque Project in Unidentified Asian Country

Las Vegas Sands (NYSE:LVS) CEO Rob Goldstein says the gaming keep company is inward discussions with a major Asiatic country near bringing an structured holiday resort on par with Marina Bay Sands to that nation.

The Sands brag made the comments last Friday inward an question with the Las Vegas Review-Journal, noting a lot of Asian countries have reached come out to the manipulator over the years. But “this unity feels like it power follow a major prospect.”

I don’t need to say where, but we’ve had some kinda interesting conversations with a major rural area at that place that has reached come out to us,” said Goldstein inward the interview with the Review-Journal’s Richard Velotta.

Sands latterly completed the $6.25 one thousand million sale of its place urban center assets — Venetian, Palazzo and Venetian Expo — signification its portfolio is comprised of quintuplet structured resorts in Macau and Marina Bay Sands (MBS) in Singapore.

Let the Speculation Begin

With Goldstein declining to name the land that approached Sands, analysts and manufacture observers will potential make a force field daylight attempting to name which Asian country is talking with the gaming company.

Obviously, Macau and Republic of Singapore are sour the list, because the former is pushing operators to offer up more non-gaming amenities, while the latter’s gaming laws set aside for just now deuce integrated resorts, which it has in the descriptor of MBS and Resorts World Sentosa. The land likely isn’t Japan, either, as it’s been almost deuce years since Sands halted its pursual of a gaming permit there.

The Philippines, South Korea, and Vietnam all get casinos. But it’s questionable as to whether any of those markets offering the scale leaf Sands is sounding for. LVS has previously been tied to Australia rumors, but goose egg came of that speculation.

In January, competition Wynn Resorts (NASDAQ:WYNN) announced plans for an integrated resort hotel on Al-Marjan Island inwards the United Arabian Emirates, which is on the Asiatic continent.

“So it’s something that we testament go along to observe and appear at. But in that respect are a lot of high calibre markets that are usable to our company,” said CFO Patrick Dumont on Sands’ fourth-quarter earnings group discussion call.

Why Geographic Diversification Matters for LVS

As noted above, the electric current integrality of the Las Vegas Sands portfolio is MBS and quint Macau venues, with the latter continuing to press on the stock.

Amid a new coronavirus trip shutdown inward mainland China, shares of LVS — the largest Macau operator — are sour 10 percent today. That means that non only if has the gunstock granted upward all its gains from before this year, when pellucidity on Macau gaming insurance policy emerged, it also agency the shares sank to a young 52-week low.

In other words, adding a locus or 2 alfresco of Macau could live a long-term welfare for LVS and its shareholders. On that note, Goldstein told the Review-Journal the companionship continues mulling domestic opportunities, including Florida, New York, and Texas.