Las Vegas Sands Looking To Expand In Spain, Mr. Bonus Reports

Mr. Bonus reports  Las Vegas Sands Looking To Expand In Spain:  The Las Vegas Sands casino resort chain is looking to expand their presence worldwide by adding a casino in Spain and expanding upon a casino in Singapore. Though they held back on such projects in the height of the Great Recession, now that market conditions (with the exception of unemployment, debt and entitlements) have improved, they are pressing forward with their expansion plans for Europe and Asia.

In Spain, CEO Sheldon Adelson is in talks with the governments of Barcelona and Madrid about creating a Las Vegas-style casino strip. It would be a huge investment on their part, projected to cost €10 billion to €15 billion. Their plans call for a 20,000 room resort complete with a casino, shopping, and conference and exhibition space. The massive resort would be millions of square feet.

The Spanish government is likely to cooperate because few companies are willing to invest in the country right now, given their economic conditions. It’s a big risk for the Las Vegas Sands. If it works out, they could become one of the biggest businesses in all of Spain.

Commentary:

Consumer service, IYC is topping out and Las Vegas Sands, LVS, is falling lower in an Elliott Wave 3 Down. I doubt funding will come forth for the casino

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