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Oct. 26, 2020, 9:16 p.m. EDT

Sheldon Adelson’s Las Vegas Sands may sell its holdings on Strip

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By Katherine Sayre

Casino mogul Sheldon Adelson’s Las Vegas Sands Corp. is considering a sale of its Las Vegas Strip operations, including two resorts and a huge convention hall, a company spokesman said.

The company is in early discussions and no final decision has been made, said the spokesman, Ron Reese.

The sale price for its Venetian and Palazzo casinos and Sands Expo and Convention Center could be more than $6 billion, according to a person familiar with the deliberations, and the company is working with an adviser to connect with a buyer. The possible sale was reported earlier by Bloomberg News.

The company generates most of its revenue in the Chinese gambling enclave of Macau and in Singapore. Sands /zigman2/quotes/208792014/composite LVS +2.47% has a stock-market value of $38.7 billion.

The possible sale comes as the Las Vegas gambling industry struggles to recover from the COVID-19 pandemic and the resulting economic downturn.

An expanded version of this report appears on WSJ.com.

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/zigman2/quotes/208792014/composite
US : U.S.: NYSE
$ 60.11
+1.45 +2.47%
Volume: 4.91M
Dec. 4, 2020 7:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$44.81 billion
Rev. per Employee
$266,583
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