LAS VEGAS, May 31, 2019 /PRNewswire/ -- Las Vegas Sands
Corp. (NYSE: LVS) announced today that the company has completed
the sale of Sands Bethlehem in Pennsylvania. Wind Creek
Hospitality, an affiliate of the Poarch Band of Creek Indians of
Alabama, purchased the property
for a total enterprise value of $1.3
billion.
"We are pleased to have completed the sale of Sands
Bethlehem. On behalf of our entire company, I would like to
thank every Sands Bethlehem team member – many of whom had been
with us since the day the property opened in 2009 – for their
dedication and professionalism. We wish them continued
success," said Sheldon G. Adelson,
the company's chairman and chief executive officer. "The sale
represents an important milestone in our company's long-term
strategy and allows us to focus on what we do best – large-scale,
tourism-enhancing integrated resort development and returning
capital to shareholders. Whether it is through the development
of The Londoner in Macao,
expansion of our footprint at Marina Bay Sands in Singapore or by aggressively pursuing a very
promising opportunity in Osaka,
Japan, we are focused on delivering projects that bring
positive economic benefit to our host communities and provide
strong returns for our shareholders."
Forward-Looking Statements
This press release contains forward-looking statements 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, the
uncertainty of whether new development, construction and ventures
will proceed on a timely basis, or at all, and other factors
detailed in the reports filed by Las Vegas Sands Corp. with the
Securities and Exchange Commission. Readers are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date thereof. Las Vegas Sands Corp. assumes no
obligation to update such information.
About Las Vegas Sands Corp. (NYSE: LVS)
Las Vegas Sands is the world's pre-eminent developer and
operator of world-class Integrated Resorts. We deliver unrivaled
economic benefits to the communities in which we operate.
LVS created the meetings, incentives, convention and exhibition
(MICE)-based Integrated Resort. Our industry-leading Integrated
Resorts provide substantial contributions to our host communities
including growth in leisure and business tourism, sustained job
creation and ongoing financial opportunities for local small and
medium-sized businesses.
Our properties include The Venetian Resort and Sands Expo in
Las Vegas and the iconic Marina
Bay Sands in Singapore. Through
majority ownership in Sands China Ltd., we have developed the
largest portfolio of properties on the Cotai Strip in Macao, including The Venetian Macao, The Plaza
and Four Seasons Hotel Macao, Sands Cotai Central and The Parisian
Macao, as well as the Sands Macao
on the Macao Peninsula.
LVS is dedicated to being a good corporate citizen, anchored by
the core tenets of serving people, planet and communities. We
deliver a great working environment for 50,000 team members
worldwide, drive social impact through the Sands Cares charitable
giving and community engagement program and lead in environmental
performance through the award-winning Sands ECO360 global
sustainability program. To learn more, please visit
www.sands.com.
Contacts:
Investment
Community:
Daniel
Briggs
(702) 414-1221
Media:
Ron
Reese
(702) 414-3607
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SOURCE Las Vegas Sands Corp.