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Sands Still Hopes to Sell Retail Assets

LAS VEGAS-The gaming firm is waiting for commercial market to bounce back, executives say during the second quarter.

By Debra Hazel | Updated on July 31, 2009

LAS VEGAS-In keeping with its standing business practice, Las Vegas Sands Corp. hopes to sell the retail components of its foreign casino resorts – whenever the commercial property market makes a deal feasible, executives said at the company’s second-quarter conference call.

The company’s general plan is to build both core and noncore assets, then sell the noncore to pay down or off a project’s debt, said Sheldon G. Adelson, chairman and CEO. The same procedure will be followed for The Venetian Macau.

“Of course, we have to wait until the commercial market improves,” Adelson said. “We will consider selling the retail when we can get the price we’re looking for.”

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