LAS VEGAS, NV--(Marketwired - Aug 26, 2014) - Las Vegas Sands Corp. (NYSE: LVS) and its majority-owned subsidiary, Sands China Ltd. (HKSE: 1928), announced today that the company has received the government permit needed for construction on the $2.7 billion Parisian Macao to resume this week.
The company said additional permits will be necessary as the development continues, but after undergoing a brief work stoppage, this approval enables work on the critical podium structure to restart immediately.
About Las Vegas Sands Corp.
Las Vegas Sands (NYSE: LVS) is the world's leading developer and operator of Integrated Resorts. Our collection of Integrated Resorts in Asia and the United States feature state-of-the-art convention and exhibition facilities, premium accommodations, world-class gaming and entertainment, destination retail and dining including celebrity chef restaurants, and many other amenities.
Our properties include the five-diamond Venetian and Palazzo resorts and Sands Expo Center in Las Vegas, Sands Bethlehem in Eastern Pennsylvania, and the iconic Marina Bay Sands in Singapore. Through majority ownership in Sands China Ltd., LVS owns a portfolio of properties on the Cotai Strip in Macao, including The Venetian Macao, The Plaza and Four Seasons Hotel Macao and Sands Cotai Central, 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 delivering a great working environment for nearly 50,000 employees worldwide, driving impact through its Sands Cares corporate citizenship program and leading innovation with the company's award-winning Sands ECO360° global sustainability program. To learn more, please visit www.sands.com.
About Sands China Ltd.
Sands China Ltd. (HKSE: 1928) is the leading developer, owner and operator of multi-use integrated resorts and casinos in Macao. Macao is the largest gaming market in the world as measured by casino gaming revenue and is the only location in China offering legalized casino gaming. Venetian Macau Limited, our subsidiary, holds one of six concessions or subconcessions permitted by the Macao Government to operate casinos or gaming areas in Macao.
We own The Venetian® Macao, Sands® Macao, The Plaza™ Macao and Sands® Cotai Central. We also own Cotai Expo, one of the largest convention and exhibition halls in Asia; Macao's largest entertainment venue, The Cotai Arena; the 1,800-seat luxury Venetian Theatre; and Cotai Water Jet, one of two major high-speed ferry companies operating between Hong Kong and Macao. Our luxury and mid-market retail malls feature approximately 600 shops with well-known retail brands. Our combined properties feature more than 9,000 hotel rooms and over 100 different restaurants and food outlets.
Our business strategy is to develop Cotai and to leverage our integrated resort business model to create Asia's premier gaming, leisure and convention destination. Our ultimate plans for Cotai include four interconnected integrated resorts, which leverage a wide range of branded hotel and resort offerings to attract different segments of the market.