Las Vegas Sands Corp.: A High-Risk, High-Return Strategy? |
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"I'm not building a resort. I'm building a city - Asia's Las Vegas."1 - Sheldon Adelson, Chairman and Chief Executive Officer, LVSC. "Never have so many recognizable brands assembled in one place at one time to create a new international tourism destination almost overnight. It took 75 years for Las Vegas to emerge as an international destination. Our intention is to replicate that feat in less than three years, and Las Vegas Sands is working closely with all of the hotel companies and investors to conclude their arrangements and realize this vision."2 - William P. Weidner, President and Chief Operating Officer, LVSC, in 2005. Introduction
The second phase of the project was to include a 6,000 seat
banquet hall, and was scheduled to be completed by 2008. Sheldon Adelson (Adelson),
Chairman and Chief Executive Officer of Sands, said at the inauguration that it
had been his dream to "reproduce the capital of entertainment [Las Vegas] in
Asia for Asians."3 According to newspaper reports, The Venetian Macau attracted
more than 500,000 visitors in its first week. Las Vegas Sands Corp.: A High-Risk, High-Return Strategy? - Next Page >>
1] John Arlidge, "The £6bn wager on China's
Gamblers,"http://business.timesonline.co.uk, September 09, 2007.
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