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The Sands group wants to withdraw from Las Vegas, according to the company's owner Sheldon Adelson. We reveal at what price the existing casinos will be sold and what the goal is.
The casinos existing in Las Vegas are to be sold. The owner imagines a sum of six billion euros. The existing casinos include the Venetian Resort, the Palazzo and a convention center Sands Expo, and Convention Center.
Perfect for the sale seems to be the fact that all three buildings are located on the Las Vegas Strip. This street is the main artery of Las Vegas, which attracts the majority of customers. In addition, the three buildings are connected to each other. However, such a fact can only be considered positive if there is a single buyer for all locations. Should a sale actually take place, this would mean a withdrawal of the Group from the USA.
But where should the new journey go? The owner of Sands has also commented on this: Asia and Macau are on the agenda. There, revenues have fallen sharply by 90 percent due to the Corona pandemic. However, why the focus is being pulled away from the U.S. and placed on the other countries was unfortunately not disclosed.
Possibly it is due to the extremely high Corona infection numbers that have been present in the USA for months. Possibly the owner of the Sands Group is not sure that these problems will be corrected in the future. Or are the reasons even to be found in the political situation? As can already be seen, Trump could be elected president again.
Anyway, according to rumors, Adelson has been trying to sell the casinos in Las Vegas for some time now. The Corona pandemic may only be a secondary criterion here, or it may be the final deciding factor. Apart from that, one reason could be that Asia is recovering and thus more revenues could be booked there.
However, this does not necessarily have to be the case. After all, the figure of 6 billion euros was not chosen for no reason: It is three times the profit generated by the three establishments in the USA. So it is also clear that the casinos and convention centers do not make an insignificant profit.
One might also think that, given the expected profits, many buyers would appear. This is apparently not the case and Adelson has been trying to find a buyer for some time.
Those who are involved in gambling know that Macau has been considered as a second Las Vegas for several years. This country generates 44 billion dollars annually, and primarily from the casino sector. These figures do not leave a group like Sands unscathed: last year, Sands generated a turnover of almost 14 billion US dollars. This represents 63 percent of Sands' total earnings. Who would be surprised if the group is trying to boost its high revenues once again?
Despite these figures, it should be noted that in Macau, revenues basically declined due to the coronavirus. This is due in part to travel restrictions. The hope, however, is that the Macau economy is slowly recovering. In recent months, Sands has seen sales drop by more than 80 percent.
This may be another reason why the Las Vegas locations are to be sold: The sales profit should help to maintain the casinos on Macau. The desired amount could at least cover the fixed costs for several months. Hopefully, by then the situation with the Coronavirus will have eased and higher revenues can be booked.
As long as the Coronavirus continues to spread and a lockdown is repeatedly called, for this reason, the solution could lie in an online casino. Many clubs offer the most favorable conditions for customer engagement, such as 77 free spins for free play. These casinos are open around the clock and do not have to be closed because of Corona. However, the regulations of one's own country must always be observed. Not in every country do casino games may continue to be offered. Sometimes only slot machines may be presented and the popular jackpots disappear from the scene.
Nevertheless, online gambling operators offer many benefits that consist not only of a welcome bonus. Generally, these operators offer many promotions that include cashback or free spins, for example. Such ideas reduce one's personal risk and help in skimming a profit. And those who do not want to challenge their luck can after all play for free in an online casino. Many variants of roulette, poker, or slots are available for this purpose.