Casino News

Las Vegas Sands seeks $3.3bn for Singapore casino

2007-09-20 15:09:47

The world's largest casino operator is seeking a massive loan to finance a new casino in Singapore, it has emerged.

Las Vegas Sands Corporation hopes to build Singapore's first gambling establishment and is currently looking for the finance to make this happen, reports Bloomberg.

Sources close to the deal told the news agency that Las Vegas Sands has hired eight banks to handle the $3.3 billion lending agreement.

"Asia will contribute the most to growth of the global gaming industry and market share here is important for gaming companies and for Las Vegas Sands,'' said Deutsche Bank spokesperson Poh Huay Imm.

"Las Vegas Sands' casinos in the US are cash cows and will help fund its Asian expansion.''

Less than a month ago, the casino company opened the Venetian Macao, the world's biggest casino. Last Friday, it welcomed its millionth visitor.