Las Vegas Sands Grows from Strength to Strength
Las Vegas Sands
Las Vegas Sands' bet on the gambling market in Singapore appears to have paid off, after the casino operator recorded annualised earnings of $1 billion on its Marina Bay Sands casino located in the country. While Las Vegas Sands’ share prices suffered when the Las Vegas casino industry was hit by the recession, the operator’s investment in the Singapore casino has meant that the casino’s shares have more than doubled this year. According to the Wall Street Journal, it’s believed that the company’s earnings (before interest, taxes, depreciation and amortisation) will hit $2.4 billion in 2011, up from $1.7 billion last year.
The news coincides with industry rumours that Las Vegas Sands is considering changing its name. Last week, we reported how news had been circulating that Las Vegas Sands was considering changing its name to “Sands International” or even “Sands Resort International”, to reflect the company’s new, global approach to the casino industry. Given Las Vegas Sands growth in Singapore, it looks likely that the company will consider changing its name.
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