Las Vegas Sands Corp. Redefines Retail on the Strip with Addition of Barneys New York
April 06 2006 - 8:00AM
PR Newswire (US)
Elite Retailer Set to Anchor The Shoppes at The Palazzo(TM) LAS
VEGAS, April 6 /PRNewswire-FirstCall/ -- Las Vegas Sands Corp.
(NYSE:LVS), owner of the famed Venetian Resort Hotel Casino,
announced today that Barneys New York will open a flagship store in
the company's new Palazzo Resort Hotel Casino currently being
constructed next to The Venetian on the Las Vegas strip. "Barneys
is the preeminent name in luxury retail and is a perfect match for
the style and sophistication visitors have come to expect at The
Venetian and will soon experience at The Palazzo," said Robert
Goldstein, president of The Venetian and The Palazzo. Opening in
the summer of 2007, The Shoppes at The Palazzo(TM) will offer an
upscale shopping experience with Barneys, one of the most
sophisticated and well known luxury retailers in the country,
serving as the anchor of the 450,000 square-foot retail complex.
Even while operating in an already renowned shopping mecca, Mr.
Goldstein predicts the site of Barney's brilliant red awnings and
style-setting window displays on the Strip will serve as a beacon
to the world's most discriminating shoppers and will change the
retail landscape in Las Vegas forever. "We are thrilled to have an
outstanding retailer such as Barneys New York as the flagship store
for The Shoppes at The Palazzo. This addition speaks volumes as to
the type of upscale shopping experience guests can expect," said
John Bucksbaum, chief executive officer of General Growth
Properties (NYSE:GGP), owner and manager of The Grand Canal Shoppes
and eventual owner of The Shoppes at The Palazzo. "Barneys is one
of the most prominent brand names in the world. We are excited that
they have decided to bring their iconic brand to Las Vegas and we
are proud that they chose to call The Shoppes at The Palazzo home."
The $1.6 billion Palazzo Resort Hotel Casino, with a design and
ambience reminiscent of high-end locales such as Beverly Hills and
Bel Air, will feature more than 3,000 all-suite rooms and offer its
new shopping, dining and entertainment on two luxurious levels. The
Shoppes at The Palazzo(TM) will be connected to The Venetian via
The Grand Canal Shoppes and will include six new restaurants and
approximately 80 high-end and mid-level stores from the most
recognizable brands to the hottest new comers and unique
one-of-a-kind boutiques drawn from all over the world. The Palazzo
will also feature a 1,800-seat theater that is expected to host a
major production or Broadway show. Statements in this press release
which are not historical facts are "forward looking" statements
that are made pursuant to the Safe Harbor Provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements involve a number of risks, uncertainties or other
factors beyond the Company's control, which may cause material
differences in actual results, performance or other expectations.
These factors include, but are not limited to general economic
conditions, competition, new ventures, government regulation,
legalization of gaming, interest rates, future terrorist acts,
insurance, and other factors detailed in the reports filed by Las
Vegas Sands Corp. with the Securities and Exchange Commission. LAS
VEGAS SANDS CORP. Las Vegas Sands Corp. is a hotel, gaming, resort
and exhibition/convention company headquartered in Las Vegas,
Nevada. The company owns The Venetian Resort Hotel Casino and the
Sands Expo and Convention Center, where it hosts exhibitions and
conventions, in Las Vegas and the Sands Macao in the People's
Republic of China Special Administrative Region of Macao. The
company is also developing additional casino hotel resort
properties, including The Palazzo Resort Hotel Casino in Las Vegas
and The Venetian Macao Casino Resort in Macao. For more
information, visit http://www.lasvegassands.com/. GENERAL GROWTH
PROPERTIES, INC. General Growth Properties, Inc. is the second
largest U.S.-based publicly traded Real Estate Investment Trust
(REIT). General Growth currently has an ownership interest in or
management responsibility for a portfolio of more than 200 shopping
malls in 44 states, as well as ownership in planned community
developments and commercial office buildings. The portfolio totals
approximately 200 million square feet of retail space and includes
more than 24,000 retail stores nationwide. General Growth
Properties, Inc. is listed on the New York Stock Exchange under the
symbol GGP. For more information, please visit the Company Web site
at http://www.generalgrowth.com/. Contacts: Las Vegas Sands Corp.
Investment Community: Scott Henry, Chief Financial Officer, (702)
733-5502 Media: Ron Reese, Executive Director of Communications,
(702) 414-3607 General Growth Properties Robert Michaels, President
and COO, (312) 960-5003 DATASOURCE: Las Vegas Sands Corp. CONTACT:
Investors, Scott Henry, Chief Financial Officer, +1-702-733-5502,
or Media, Ron Reese, Executive Director of Communications,
+1-702-414-3607, both of Las Vegas Sands Corp.; or Robert Michaels,
President and COO of General Growth Properties, +1-312-960-5003 Web
site: http://www.generalgrowth.com/ http://www.lasvegassands.com/
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