Las Vegas Sands Set For Further Expansion in Asia Destination Unknown

LV sands’ substantial re-shaping of its asset portfolio looks set to continue, with the firm now eyeing up further activity on the Asian continent. The integrated resorts operator now exclusively presides over properties in Singapore and Macau, after recently selling its domestic venues based in its native Las Vegas.

In an interview conducted last Friday with the Las Vegas Review-Journal, CEO Rob Goldstein claimed that the gaming giant were locked in talks with officials from an undisclosed Asian country. Although conceding that the company had flirted with the idea of additional Asian expansion in recent years, he stated that ‘this one feels like it might be a major prospect’.

It might need to be. Macau’s weary gaming industry was dealt another blow yesterday, as local authorities imposed tighter restrictions on mainland inbound travel. China is currently presiding over its worst spike in COVID cases for two years, which is certainly not helping Macau’s chances of market recovery. The micro-state has struggled to keep its head above water during the pandemic, with allegations of illicit activity and ambiguity around gaming regulation serving to further undermine its cause. Las Vegas Sands is the biggest operator in the semi-autonomous region, with five casino facilities. However, given the city’s current climate, their Macanese empire is currently perched on a rather shaky platform.

However, the hint of a ‘Marina Bay Sands-esque’ project, similar to their set-up in Singapore, could inject some much-needed optimism. Analysts have already begun to speculate on where this new venture could materialize. Both Japan and Australia are seemingly off the cards given that the firm’s interest has cooled here in recent years, but the UAE could be an option if relaxations in gaming law come to fruition. Philippines and South Korea could be viable, but may not quite have the market-size to facilitate the company’s ambitions.

Industry stakeholders await further news on what could ultimately be a ground-breaking enterprise into an untapped land.