Ah, Mr. Adelson has to borrow from the PAP as he's not the government. The PAP in return, to compensate for the 'loan', just merely tax all of us through GST, ERP and our utilities!
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COMFIRMERD! LV SANDS in some trouble
- Thread starter newyorker88
- Start date
Ah, Mr. Adelson has to borrow from the PAP as he's not the government. The PAP in return, to compensate for the 'loan', just merely tax all of us through GST, ERP and our utilities!
If the major shareholder of Las Vegas Sands has to take out his own cash to maintain the company as a going concern, then LVS is having negative cash flow.
It's a matter of time before the company has got to go for Chap 11.
From South China Morning POst...
Credit crisis hits Sands' Macau resort plan
Project on hold as US$5.25b loan halted
Tim LeeMaster, Wong Ka-chun and Neil Gough
Oct 20, 2008
US gambling giant Las Vegas Sands has scrapped plans to raise US$5.25 billion in loans for its expansion in Macau - including funding for a hotel resort complex - due to the credit crunch and a weak appetite among lenders amid the market turmoil, sources said. ...
Credit crisis hits Sands' Macau resort plan
Project on hold as US$5.25b loan halted
Tim LeeMaster, Wong Ka-chun and Neil Gough
Oct 20, 2008
US gambling giant Las Vegas Sands has scrapped plans to raise US$5.25 billion in loans for its expansion in Macau - including funding for a hotel resort complex - due to the credit crunch and a weak appetite among lenders amid the market turmoil, sources said. ...
What I worry is not Mr. Adelson; I worry for those students who decided to jump on the IR bandwagon by registering for the IR course at the Temasek Poly- my alma mater btw- so that they could work in the IR when it opens.
If the casinos close even before they open, these students will be stuck in the middle of a river without a paddle.
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Don't worry. The Lehman uncles and aunties OF THE WORLD will be funding their salaries.
throw what?
casino are most profitable place on earth
of course we need to bring the customer in it first.
WYNN resorts in Macao is already a casualty as a result of Beijing's crackdown on visits to Macao.
LVS's S'pore IR will also suffer the same fate, and that is if they can complete the project at Marina.
Wynn earnings drop 38.8pc as Beijing's travel restrictions bite
Neil Gough
South China Morning Post
Oct 15, 2008
Beijing's crackdown on mainland visits to Macau has begun eating into corporate earnings, with operating profit at the Wynn Macau falling at least 38.8 per cent in the quarter to September from the previous period, according to preliminary results released by the company yesterday....
LVS's S'pore IR will also suffer the same fate, and that is if they can complete the project at Marina.
Wynn earnings drop 38.8pc as Beijing's travel restrictions bite
Neil Gough
South China Morning Post
Oct 15, 2008
Beijing's crackdown on mainland visits to Macau has begun eating into corporate earnings, with operating profit at the Wynn Macau falling at least 38.8 per cent in the quarter to September from the previous period, according to preliminary results released by the company yesterday....
Try when the middle class around the world is in trouble, and cutting down on expenses. IRs are dependent on tourism for their business, and a worldwide recession is the worst nightmare they can ever imagine.
profitable hor?
then how come they have to come up with their money or must raise money?
The casinos in sinkapore are different in a sense it have to support alot of non-gambling operations like theme parks and hotels not forgetting the thousnds staff for these operations. Remember how easy for theme parks to lose money. Sinkeeland have tried the theme park route plenty of times and failed.
Many casinos in Las Vegas got no extra baggage to support. Americans are mostly the ones that gamble in LV, whereas sinkeetown depend more on the tourist. From the looks of it right now, I do not think sinkeeland is getting high spending tourist.
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Pls don't kid yourself. If not for the casino licence in the IR, LVS would not have tendered at over US$5 bln for construction & land cost.
Also take note of the construction cost overrun according to forum bros, it amounts to US$2 over bln.
From my information LVS is trying to get Temasek to assist financially.
So big deal. The big queation is can make money or not?? LVS had a free hand all this while with the casinos in Las Vegas. Looks like goberment intervention in Macau is not doing well for him.
A few big players pull out of the IR bids in Sinkeeland citing too much goberment control, looks like LVS gonna learn things the hard way.
Don't worry lah!, they can be gambling consultants, to the many who queue up at the 'pools' outlets, or open ' see gore luck' stalls in Geylang...who says they can'r paddle!..??? they can peddle allright!
Even the rich are in trouble if ordinary people use less of their services or buy less of their products. Bill Gates don't get rich by selling software to himself you know. He sells his stuff to both businesses and consumers, and both can only buy if they can afford it.
If both are in trouble, especially small businesses, MS would be in trouble as well.
The same goes for people in the tech industry and in other industries. Rich people are still dependent on the stable middle class for almost all of their financial stability. If people don't buy or use, these corporations suffer.
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