Texas company sues Las Vegas Sands over rights to ‘Palazzo’ name

Another trademark infringement lawsuit has been filed in a dispute between the Palazzo resort on the Las Vegas Strip and a Texas clothing company.

The Palazzo hotel-casino, owned by Las Vegas Sands Corp., in 2009 sued Palazzo Design Corp. of Houston, charging the Houston company was threatening litigation over the Las Vegas Palazzo's sale of T-shirts and clothing items bearing the hotel's name.

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Man arrested after threat to leap from Reno hotel

RENO, Nev. (AP) - Authorities say a Wisconsin man was arrested after officers persuaded him not to jump from his room in the 9th floor of the Sands Regency Casino Hotel.

Reno police say 48-year-old Randy Russell is wanted on a sexual assault warrant in Wisconsin in had previously been the subject of a search there. KOLO-TV reports that Russell is being held without bail.

Police say Russell was hanging from the window of his room threatening to jump when police arrived at about 9:15 a.m. Monday. It took officers about three hours to talk Russell out of jumping.

Macau dims Sands' sunshine

By all accounts 2010 has been a pretty good year for Las Vegas Sands Corp. Chairman and Chief Executive Officer Sheldon Adelson.

The $5.5 billion Marina Bay Sands in Singapore opened in April and has produced revenues far beyond analysts' expectations. Table games in Pennsylvania added a revenue source to the Sands Bethlehem.

Company President Michael Leven has brought a calming influence to the corporate operation.
And in November, the Nevada Supreme Court threw out a $60 million verdict that a Clark County jury wanted the company pay to a Hong Kong businessman following a lengthy 2008 trial.

Adelson, 77, was the third richest man in America before 2008. But the economy tanked, stock in Las Vegas Sands fell from more than $140 per share to less than $2, and the company had to avoid bankruptcy by restructuring its corporate balance sheet.

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Las Vegas Sands has much riding on Asian gaming

As befits the head of one of the world’s biggest casino operators, Sheldon Adelson likes a punt. Last year, the chief executive of Las Vegas Sands placed a multibillion-dollar treble on the future of Asian gaming. With two legs completed, the bet is looking good. But Mr Adelson may yet stumble before the finish line.
Las Vegas Sands spotted the potential of Asian gambling nearly a decade ago, when the former Portuguese territory of Macao, now a special administrative region of China, opened its centuries-old gaming market to foreign companies.

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Las Vegas Sands joins InterContinental

LOS ANGELES - LAS Vegas Sands Corp's Strip resorts, the Venetian and Palazzo, are joining the portfolio of InterContinental Hotels Group, the world's top hotel company by number of rooms.
Under the 10-year licensing deal, the Las Vegas hotels, with more than 7,000 luxury rooms, will gain access to IHG's global operating system, sales force and Priority Club loyalty program, which has 52 million members.

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World’s Costliest Hotel

Marina Bay Sands is an integrated resort fronting Marina Bay in Singapore. Developed by Las Vegas Sands, it is billed as the world's most expensive standalone casino property at S$8 billion (US$5.7 billion), including cost of the prime land. The resort features a 2,560-room hotel, a 120,000-sq mtr convention-exhibition centre, The Shoppes mall, an art & science museum, two Sands Theatres, six ‘celebrity chef’ restaurants, two floating pavilions, a casino with 500 tables and 1,600 slot machines

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Sands Singapore Casino Sued for Conference Mishaps

June 10 (Bloomberg) -- Las Vegas Sands Corp.’s Singapore casino resort was sued by organizers of the first conference it hosted for misrepresenting a “complete disaster” as a world- class venue and for imposing duress, fear and force.

IPBA 2010 Pte, on behalf of the Inter-Pacific Bar Association conference, is asking the Singapore High Court to assess damages for misrepresentation, breach of agreement and Marina Bay Sands Pte’s conduct, according to a lawsuit filed June 8. The case counters the casino’s suit over unpaid bills.

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Sands China Secures Playboy Deal

Sands China and Playboy Enterprises have entered a licensing agreement that will bring two Playboy-inspired clubs to the Sands China properties in Macau. The first Playboy Club is set to launch by year end

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Las Vegas Sands closes on $1.75B in Macau loans

LAS VEGAS — Las Vegas Sands Corp. says it has secured $1.75 billion in financing to build its next two phases of development in Macau. The Las Vegas-based casino company said Thursday the money will be used to build hotels along with casino, convention and retail space in the Cotai area of the Chinese gambling enclave. Sands chief executive Sheldon Adelson says a total of 6,000 hotel rooms will be built in phases to attract large conventions and trade shows. Adelson says the development's first phase includes 3,700 hotel rooms and will open during the third quarter of 2011.He says another 2,300 hotel rooms will open in 2012.The owner of the Venetian and Palazzo resorts in Las Vegas already owns three casino-resorts in Macau.

Sands China Has $1.75 Billion Financing for Expansion

May 11 (Bloomberg) -- Sands China Ltd., Asia’s biggest casino operator by market value, obtained $1.75 billion of debt financing from a group of banks to resume building a resort in Macau, Chief Executive Officer Steve Jacobs said.

Sands China may sign agreements with seven main banks, including international and Chinese lenders, as soon as this week, Jacobs said an interview in Hong Kong today. The company will also spend about $500 million from its initial public offering in November on the resort in Macau, the only place in China where casinos are legal.

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Sands Sale of Macau Malls, Apartments May Raise $12 Billion

April 27 (Bloomberg) -- Las Vegas Sands Corp. Chairman Sheldon Adelson said the sale of the casino operator’s malls and apartments in Macau may raise $12 billion, to recoup the cost of constructing the buildings that house them.


“It will be like $12 billion if we add up all the apartments and all the retail in Macau,” including those in buildings still under construction, Adelson, also the founder and chief executive officer of Las Vegas Sands, said in an interview in Singapore today.

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So much for Obama hurting Las Vegas

President Barack Obama, in February 2009, commented that banks receiving government bailouts shouldn’t go to Las Vegas at taxpayers’ expense. The comment did not sit well with our casino leaders.


Several thought the comments would have a devastating impact on the slumping Las Vegas market. Fortunately for Las Vegas, it turned out the “gloom and doom” prognosticators were wrong.

It is true that shortly after the comments were made, major Las Vegas stocks hit bottom. March 2009 brought stock prices of around $2 and $3 per share for MGM Mirage and Las Vegas Sands, and for Wynn Resorts the price for its stock fluctuated between $15 to $23 that month.

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Macau giving fits to Nevada regulators

Renewed concern about the influence of organized crime in Macau, where three Las Vegas-based gaming giants own casinos, has raised questions about the ability of Nevada regulators to monitor or act on what takes place on the other side of the world.


Industry titans Steve Wynn and Sheldon Adelson view their companies as more Asian than American. Wynn’s Macau casino accounted for 67 percent of his company’s 2009 earnings. Adelson’s three Macau casinos accounted for 90 percent of Las Vegas Sands’ earnings last year. The companies raised $5 billion in initial public offerings of their Macau subsidiaries’ shares last fall.

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Sands Macau Now Being Investigated?

An international news wire service is questioning potential ties between the Las Vegas Sands Corp. and a Macau-based businessman alleged to have ties to organized crime.


A report from Reuters says an examination of Hong Kong court records, U.S. depositions of a former Sands executive and interviews with law enforcement in the United States and Macau show a connection between Sands, which operates Sands Macau in China and The Venetian and Palazzo on the Strip, and Cheung Chi-tai, an investor in a company that helps bring wealthy clients to casinos in Macau.

According to Reuters, a Sands Macau patron also said that Cheung ran one of the VIP rooms at the property.

Cheung has been accused of masterminding a scheme to murder a Sands Macau dealer suspected of helping a patron cheat millions of dollars from the business, the report said.

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Las Vegas casino execs make pitch to open up to 6 resorts in Florida

Multibillion-dollar hotel resorts with casino gambling, celebrity chefs and luxury shopping.

It could all come to Florida — if the state wants to cash in on its image as a sun-soaked haven for tourists and authorize sprawling, Vegas-style casino resorts, gambling executives told lawmakers Thursday.

Executives from Las Vegas Sands, which operates the Venetian and Palazzo on the Vegas strip, flew to Tallahassee to pitch lawmakers on their vision: Four to six gambling destinations, each costing $2 billion or more to build, that would beckon gamblers from several continents.

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Sands China May Have Sales of $5 Billion in 2010, Adelson Says

Dec. 22 (Bloomberg) -- Sands China Ltd., the casino operator with the second-biggest market share in Macau, may have sales of $4.5 billion to $5 billion next year, according to the head of the company that controls it.

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Experts predict Las Vegas Sands casino will dominate Singapore market

The world’s newest gaming venue will be halfway around the world — with a Las Vegas company in the center of the competition.

Experts are saying Las Vegas Sands’ Marina Bay Sands will likely be the more visible and more enduring property of two that will open in Singapore in early 2010.

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Sands looks to raise $2.5B with Hong Kong IPO

HONG KONG (AP) -- U.S. casino operator Las Vegas Sands Corp. aims to raise $2.5 billion through an initial public offering in Hong Kong this month to help repay massive debts and restart languishing casino projects in Macau, a document showed Monday.

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Las Vegas Sands Corp. Reports Third Quarter 2009 Results

Net revenue for the third quarter of 2009 was $1.14 billion, an increase of 3.2% compared to $1.11 billion in the third quarter of 2008. Consolidated adjusted property EBITDAR in the third quarter of 2009 increased 11.7% to $272.3 million, compared to $243.8 million in the year-ago quarter.

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Las Vegas Sands gets approval for Hong Kong IPO

HONG KONG—U.S. gambling giant Las Vegas Sands Corp. has won approval from Hong Kong's stock exchange to list shares of the company's Macau casino business, a person familiar with the listing said Friday

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