Las Vegas Sands Seeks Terms for Macau Loan

LVS which is the stock symbol for the Las Vegas Sands Corporation and is the second largest casino operator by market share value is currently trying to figure out a way to revise the terms to receive a loan which is over 5 billion dollars to fund a casino project in Macau.

Due to the current economic situation times are currently rough and several banks are seeking help and recue themselves.

Borrowing costs are at the utmost high amid what could possibly be the worst U.S. banking crisis since the Great Depression, which was brought on by the collapse of investment banks including Lehman Brothers Holdings Inc.

Both the Las Vegas Sands and Wynn Resorts Ltd. (which is a company owned by Steve Wynn who is currently majority stake holder of the Wynn and Encore resorts on the strip in Las Vegas) are one of the gambling companies investing $25 billion in Macau, which is the only city in China where it is legal to gamble. Sands was planning at least nine more hotels and resorts on a strip which is now Vegas’ biggest gambling competitor.

The Sands stock is continuing to see a downward cycle but investor analyst are advising a buy call saying that the stock will rise to a $44 high sometime within the next 2 years.

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