Casino News

Sands 'will boost Asian economies for tax breaks'

2008-03-28 15:53:28

Las Vegas Sands owner Sheldon Adelson has claimed his firm is willing to set up in Asian countries in return for tax breaks and concessions.

The billionaire suggested at Wednesday's JPMorgan Chase business conference that his company had the power to boost the region's gaming resorts in the same way they have done with Macau, reports the Las Vegas Review-Journal.

He remarked: "We would make the largest investment in that country's history, which would bring in eight (million) to ten million incremental new tourists annually.

"We'll also create a couple of hundred thousand new jobs. That's a very attractive proposition for any politician."

Sands was the first foreign company to set up in Macau's gaming market, which had previously been monopolised by Stanley Ho.

The firm's Venetian Macao and Sands Macao resorts have both helped to make the Chinese city the most popular gambling destination in the world.