Bloomberg News

Billionaire Adelson Debuts Lavish Casino in Macau

April 11, 2012

Las Vegas Sands Corp. Chairman Sheldon Adelson plans to spend $35 billion on building Spanish gambling resorts over nine years and will add a new Macau location to expand globally.

Adelson, speaking today at the opening of the $5 billion Sands Cotai Central, said his Asian business is seeking Macau government approval for an added 3,600-room casino hotel in the world’s largest gambling hub. In Spain, the company wants to build 12 resorts in three phases, he said.

The new locations may help boost the casino operator’s revenue outside the U.S. Las Vegas Sands, which is already benefiting from Asian expansion, said in February that fourth- quarter profit rose 17 percent on growth in Singapore and Macau , the only place in China where casinos are legal. (Source: Bloomberg)

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