Las Vegas will remain in the name, but the casino giant has set its Sands brand name's sights on Singapore and Macau for future growth with a blockbuster sale of its famed Venetian casino.
Las Vegas Sands announced the sale of the Venetian hotel, casino and convention complex in a $6.25 billion deal that will take the proceeds and invest in marquee Asian operations, the Marina Bay Sands casino in Singapore, and a London-themed gaming hub in Macau. The operation in Macau is banking on celebrity endorsements to raise its profile, including former England footballer David Beckham.
The switch in focus is only two months after the death of Sands chief executive and Chairman Sheldon Adelson, who pushed hard into Asia, a path his successor seems to have followed.
"This company is focused on growth, and we see meaningful opportunities on a variety of fronts," said new chairman and chief executive Robert Goldstein. "Asia remains the backbone of this company and our developments in Macau and Singapore are the center of our attention."
The Venetian was famed for its ultra-luxury Palazzo hotel and massive convention center, though business has been sharply curbed in Las Vegas as well as Singapore and Macau during the COVID-19 pandemic.
The Macau operations will have a Gordon Ramsey restaurant, a 96-meter tall Big Ben replica and a Crystal Palace atrium. Macau has used QR codes and other tracking technology to slowly open up to gambling following the Covid-19 slowdown.
Las Vegas Sands even plans a technology event loosely based on the massive consumer electronics trade show held annually in Las Vegas, which this year was mainly virtual.
