Bloomberg.com, 11 Nov 2008, Beth Jinks
Nov. 11 (Bloomberg) -- Las Vegas Sands Corp., the casino company run by billionaire Sheldon Adelson, said it’s raising $2.14 billion in capital and is suspending construction in Macau to conserve cash after a third-quarter loss.
The casino operator expects to finish the “oversubscribed” sale of debt or equity this week, including contributions from the Adelson family, removing the risk of the parent company tripping loan covenants, executives said yesterday on a conference call. A “major Chinese bank” may also lend the company as much as $700 million to resume the stalled Macau projects, Adelson said.
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