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More LVS Cotai Sale Rumors Swirl

JP Morgan analyst Joseph Greff believes that a sale of Cotai assets is in the cards for Las Vegas Sands Corp.

Up for the offing are the Grand Canal Shoppes at Venetian, condos at the Four Seasons Macao and Sites 5 & 6, aka Hotel Row or 'The Dominoes' - Shangri La, Traders and the Sheratons.

I don't really see anyone buying into LVS' half finished Cotai projects, unless they have a gaming concession (MGM Grand Paradise, Wynn, Galaxy Entertainment, SJM or Melco Crown.) Of that group, the only real possibilities among that group are SJM and Melco Crown. Wynn won't buy it, MGM and Galaxy don't have the cash. MPEL might, but why would they cannibalize City of Dreams right out of the gate. SJM has little to no footprint on Cotai, and nothing there has broken ground. If I had to bet on a concession holder, I'd bet it on SJM.

More from the AP.


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