Las Vegas Sands Bethlehem Sells PA Casino To Double Down In Asia
Sheldon Adelson, who is the majority shareholder of Las Vegas Sands Bethlehem is allegedly selling Sands Bethlehem casino in PA. Recently, we found an article on Yahoo Finance, which originated from Travis Hoium from The Motley Fool. It says, ‘Las Vegas Sands (NYSE: LVS) Sells Pennsylvania Casino to Double Down in Asia.’ As most people know, Sheldon Adelson is a savvy investor and casino mogul. So, why would he want to sell a Pennsylvania casino to invest more in Asia?
Why Is The Las Vegas Sands Bethlehem Selling Their Casino In PA Doubling Down In Asia?
In the article from Motley Fool on Yahoo Finance, it appears that investors thing The Las Vegas Sands Bethlehem is an odd hotel resort for the $LVS stock portfolio. First of all, the Pennsylvania Casino is not in a major gambling city.
Is Las Vegas Sands Bethlehem Good For The $LVS Portfolio?
Some people feel it is suitable for The LVS portfolio as Pennsylvania did legalize online gambling for real money). If you are familiar with the US casino markets, PA is not the largest market. Obviously, on the West Coast there are casinos in Las Vegas Nevada. Also, on the East Coast, the biggest gambling market is at the casino resorts in Atlantic City New Jersey.
LVS Has The Opportunity To Sell The Property For 1.3 Billion Dollars
Regardless of Pennsylvania legalizing real money gambling online, Sheldon Adelson has never seemed to be a big fan of online casinos. That said, LVS investors are not surprised that Sheldon Adelson jumps on the opportunity to sell the Sands Bethlehem casino in PA for one billion, three hundred million dollars. Moreover, it appears that the Poarch Band of Creek Indians of Alabama are ‘flush was cash’ and want to get involved in the PA gambling market.
How Are They Doubling Down In Asia?
You know the old saying ‘The rich get richer’ and ‘The Poor Get Poorer”. So, is this the case with Sheldon Adelson’s Las Vegas Sands Bethlehem property? After all, they don’t have any substantial debt based on the debt-to-EBITDA ratio. That said, this seems like a good deal for the Poarch Band of Creek Indians. The LVS investors may be happy to get their dividends from the sale of Sands Bethlehem.
Indeed, it seems like Las Vegas Sands is freeing up extra cash to double down on their investment to expand their casino resorts in Singapore and Macau. Ultimately, The Sands Cotai Central in China gets a cash infusion of one billion, one hundred million dollars. As a result, they will use this money to add a London-themed resort.
As far as their second double down in Asia, they are putting more cash in Singapore at the Marina Bay Sands. More specifically, they are using three billion, three hundred million dollars to expand The Marina Bay by adding a new luxury hotel tower.
It appears that Las Vegas Sands will be looking to win a big long term in Japan. Ultimately, they are looking to get casino licenses now that the Japanese Government legalized gambling. In the Motley Fool and Yahoo Finance articles, it seems like LVS is looking to invest up to twelve billion dollars in the gambling market in Japan.
• Source: Las Vegas Sands Sells Pennsylvania Casino to Double Down in Asia From Finance.yahoo.com On June 9, 2019.
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