Las Vegas Sands Contemplate Promoting $ 6 Billion Of Vegas Casinos: Supply

© Reuters. The Las Vegas Sands Corp logo is pictured at the Japan IR EXPO in Yokohama

By Aishwarya Nair

(Reuters) – casino operator Las Vegas Sands (NYSE 🙂 Corp is considering a sale of its flagship Las Vegas casinos in a deal that could raise $ 6 billion, a source familiar with the matter told Reuters on Monday.

The properties included in the potential sale are the Sands Expo Convention Center, Venetian Resort Las Vegas and the Palazzo, the source added, asking not to be identified.

Bloomberg previously reported that Las Vegas Sands is working with a consultant to attract potential applicants.

In May, Sands ended plans to open an integrated resort casino (IR) in Japan without giving a reason for canceling the project.

The gambling industry, which thrives on air travel and large groups of people in close proximity, is one of the hardest hit industries amid the ongoing coronavirus pandemic.

As of June 30, the company had a total of $ 13.82 billion in outstanding debt excluding finance leases.

The group's chairman and executive director Sheldon Adelson said in the second quarter that "a recovery process from the COVID-19 pandemic is ongoing in each of our markets".

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