Las Vegas Sands Corp (LVS.N), which will open its $5.5 billion Singapore casino resort in late April, remains uncertain about the resort's financial performance, the company's chief operating officer said on Wednesday.Sands will need to generate at least $400 million in earnings before interest, taxes, depreciation and amortization (EBITDA) from the fully ramped-up Singapore resort in order to meet debt covenants, he said.
"We're accumulating cash ... the only risk is if Singapore doesn't do well," he said. "We have to do $400 million in EBITDA to clear covenants. If we don't do that, we've made a bad investment in Singapore." Full Story
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