LV Sands Moves Closer to IPO for Macau Unit

LAS VEGAS- Las Vegas Sands advanced plans for the listing of its Macau operations on the Hong Kong Stock Exchange by filing a required disclosure statement detailing its operations in Macau, which are being spun off as Sands China Ltd. The casino operator, which hoping to raise some $2.5 billion in the initial public offering, says its listing hearing with the exchange has been completed and is awaiting formal approval.

If Wynn Resorts Ltd. is any indication, shares of Sands Macau will be listed on the Hong Kong stock exchange within a couple of weeks. Wynn Macau Ltd. completed its $1.87-billion IPO at the start of the October, 15 days after filing the required disclosure statement.

Macau, a special administrative region of China, is the only place in the county where gambling is legal. The gambling industry there started in 1962 when the government issued a single license to Stanley Ho. The monopoly ended in 2002 and several licenses were handed out. In 2006, the market surpassed Las Vegas as the world’s largest gaming market.