Las Vegas Sands may have exited The Las Vegas Strip but the company is hardly anywhere near slowing down its march in the gambling industry. A new interview with company chairman and chief executive officer Rob Goldstein for the Las Vegas Review-Journal suggests that LVS is planning some big moves ahead.
Rob Goldstein Teases Stronger Asian Pivot for Las Vegas Sands
Among those is a plan to create a new integrated resort in Asia with a yet unnamed country. Goldstein only teased that should the company succeed in placing a bid and the project is given green light by local authorities, the integrated resort should be of the same magnitude as the Marina Bay Sands in Singapore.
Goldstein refused to offer details as to where the company is planning to build its next project, although many industry observers suspect that Japan is back on the agenda. LVS previously said it would not pursue immediate plans in the country’s upcoming integrated resorts efforts, and targeted Texas through an extensive lobbying campaign. He added:
“It’s proprietary, but we’re looking to build something of scale much like Marina Bay Sands. A lot of countries in Asia have reached out to us over the years, but nothing’s happened. This one feels like it might be a major prospect. A major country, a top-tier country. I hope it’s real.”
Las Vegas Sands chairman and CEO Rob Goldstein
LVS surely has the war chest to carry on with an ambitious project after it dropped its properties on the Las Vegas Strip in a $6.25 billion deal which now gives it enough flexible financing to pursue any project.
A new country in Asia would be an interesting prospect for the company which has been diversifying away from the US market and has repeatedly stated under the leadership of its late CEO and chairman Sheldon Adelson that Asia constitutes one of its most important markets.
But for those hoping that Japan may be one of the potential investments, Goldstein said that this is no longer on the cards. Originally, LVS was prepared to invest $12 billion. The most logical targets of LVS’ expansion appetites are now Thailand or Macau. Goldstein confirmed that casino would be just one of the experiences the company would seek to introduce with a range of hospitality initiatives, including convention, retail, hotel, spa, restaurants, business centers, and casino.
Las Vegas Sands to Remain Incorporated in LVS
Goldstein also said that LVS is pushing ahead with plans to build its second Marina Bay Sands in Singapore as well. The integrated resort model has proven quite popular and LVS intends to stick with it unless the jurisdictions in which it operates decide to change that as well.
Even though the company’s Asian pivot has been very strong, Goldstein and LVS have no intention of leaving Las Vegas as their incorporation jurisdiction and would continue to operate out of there, moving more staff to HQ in the next year.
Corporate operations remain intact, Goldstein assured, as he confirmed that Asia would be an important part of the company’s future growth while the corporate backbone remains in Las Vegas.