LVS Looks to Unveil Design Elements and Key Features of New Macao Property
Extension of Construction Deadline Paves the Way for the Company's Fourth Cotai Strip Development
LAS VEGAS, NV -- (Marketwire) -- 07/18/12 --
Las Vegas Sands (NYSE: LVS) Chairman Sheldon G. Adelson said today that the company has already sought approval of its design plans and will soon publicly unveil artist renderings and the key features of the new integrated resort the company plans to build on the Cotai Strip in Macao. Earlier this week, the company's majority-held subsidiary, Sands China Ltd., announced that the Macao S.A.R. government had extended the company's deadline for the completion of its project on "Parcel 3" until April 2016. The previous deadline was April 2013.
"We are very pleased to have secured an extension of our construction deadline for our newest integrated resort in Macao," said Mr. Sheldon G. Adelson, who also serves as the chairman of Sands China Ltd. "We have already undertaken extensive design work on the project and plan to start construction by November. We think the new concept will be extremely well-received and, as with our existing properties on the Cotai Strip in Macao, we will invest in a wide array of leisure and business amenities aimed at attracting visitors from across the region and beyond. This property in particular will further enhance our growing MICE (meetings, incentive, conventions, exhibitions) business and will also feature a variety of amenities
designed to encourage more families to visit Macao."
Mr. Adelson said he was appreciative of the Macao government's approval and that the best thing the company could do to thank the government for its support is to build another world-class integrated resort property as quickly as possible.
"The vision for the Cotai Strip, and ultimately the breadth of its success, is based on adding as many hotel rooms, retail and entertainment offerings, meeting and convention facilities, restaurants, and other leisure and recreational activities, as we can there. This development is another important step in that process," concluded Mr. Adelson.
The "Parcel 3" project will be located adjacent to the company's Plaza Casino Macao and Four Seasons Hotel Macao, but connected to The Venetian Macao via that property's MICE facilities. All of the company's properties on the Cotai Strip, including The Venetian Macao and the recently opened Sands Cotai Central, will be connected through a series of indoor and covered outdoor walkways and moving sidewalks.
About Las Vegas Sands
Las Vegas Sands (NYSE: LVS) is a Fortune 500 company and the leading global developer of destination properties (Integrated Resorts) that feature premium accommodations, world-class gaming and entertainment, convention and exhibition facilities, celebrity chef restaurants, and many other amenities.
THE VENETIAN® and THE PALAZZO®, Five-Diamond luxury resorts on the Las Vegas Strip, and SANDS® Bethlehem in Eastern Pennsylvania are the company's properties in the United States.
MARINA BAY SANDS® is the company's iconic Integrated Resort in Singapore's downtown Marina Bay district.
Through its majority-owned subsidiary Sands China Ltd., the company also owns a portfolio of properties on Macao's COTAISTRIP®, including THE VENETIAN® Macao, Four Seasons Hotel Macao, and Sands Cotai Central, a 13.7 million square foot 6,400-room Integrated Resort, the first phase of which debuted in April 2012. The company also owns the SANDS® Macao on the Macao Peninsula.
Las Vegas Sands is also committed to global sustainability through its SANDS Eco 360 program and is an active community partner through its various charitable organizations.
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Source: Las Vegas Sands
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