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For Sale : Sands Macao

For Sale, Sheldon's Box O' Baccarat. Asking price : $1.8B. Never mind that it cost a little more than 1/8th of that to build it.

From the WSJ:

Under the deal, Las Vegas Sands would sell the building but continue to run the casino under its gambling license and pay its new landlord rent based on the how the casino performs, the report said. Discussions with potential buyers began last week, the report said.

Las Vegas Sands Spokesman Ron Reese said they will neither confirm or deny the report. But, he said, certain groups have approached the company about investing in their Macau operations.

From the AP:

Talks kicked off last week, the daily said, as the company could not find a buyer for the shopping centres attached to the Venetian and Four Seasons resorts because the one billion dollar asking price was considered too high.

"It was kind of, 'OK then, if you don't want the malls, do you want the Sands?'" an unnamed source was quoted as saying.

So, is this what MPEL is going to use part of the $400M they just raised?

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Comments & Discussion:

It is good that one of the casinos is up for sale now, as one can finally make a decent estimate of what all the buildings should be valued at. Also Sands is a little bit too big to be bought by one of the other operators just to keep prices high. Very interested to see how this will end.

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