Two companies in the construction sector have expressed interest in completing Las Vegas Sands’ Cotai plots five and six in Macau, Sheldon Adelson, the LVS chairman told an investment conference in New York.
Mr Adelson didn’t specify whether the construction companies were interested in taking equity stakes, providing support by rendering services in kind or simply bidding for new construction contracts.
He did say though that four different parties are interested in investing in LVS globally.
“We have four groups of people that in the last month or six weeks… have expressed two categories of participation with us,” he stated.
“One consortium and somebody else that has a very, very deep pocket [said] that they want to buy in as an equity holder in our existing cash flowing properties—so we could do that,” added Mr Adelson.
Mr Adelson added 19 investors had come forward as possible buyers of space in LVS’s two Cotai malls in Macau, but he added the company had other solutions available to avoid the risk of debt default.
“Without the sale of the malls, we have other viable, credible, validated options,” he stated.
“We are not going to the group of banks, either here or in Macau, that hold our financing to ask them for amendments.
“We haven’t hired a restructuring firm and we don’t intend to.”
Shares in LVS rose 23 percent in afternoon trading in New York, following Mr Adelson’s remarks.
RelatedPosts
