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Las Vegas Sands Corp Mega Business Deal

Millions of people everyday visit one land-based casino business or another, in all parts of the world. In fact, all aspects of the casino industry have increased significantly with the rising popularity of online casino businesses. In the most recent casino news, the Las Vegas Sands Corp., owners of a the Venetian, in Las Vegas, and the Sands Macao, have signed a $2.4 billion deal with Singapore to build and run the world`s most expensive casino. Although business rivals Harah`s Entertainment Inc. and the MBM Mirage also made bids, Las Vegas Sands won Singapore over.

Until last year gambling was an illegal business in Singapore, but since the island nation scrapped the ban, they are making moves to bring successful casino resorts into Macau. Why? The answer is quite simple: The middle class population is becoming increasingly wealthy, and Singapore is attempting to keep potential gamblers with in the country. The acceptance of the Las Vegas Sands bid is not only a great way to increase tourism in Singapore, but it has helped the business as well. In fact, ever since the announcement of the Sands involvement their stocks of risen $7.52 to $71.19.

"This is a pretty big win for Las Vegas Sands," said Peter Dunay, chief investment strategist at fund management firm Leeb Group. "As far as real strong explosive growth, it is coming from the strength you are seeing in the Asian (market)." The biggest reason behind the big business win for Las Vegas Sands is the fact that they currently own and operate a casino in Macau. The new resort, to be known as The Marina Bay expects to open in 2009, with expected earnings of S$2.7 billion by 2015 and the creation of over 30,000 jobs. Hopefully, this will be a successful business for all involved parties.