The CEO of Las Vegas Sands is expecting "extraordinarily high" earnings from the company’s Singapore casino resort.Sheldon Adelson was discussing Las Vegas Sands’ Singapore casino resort when he said he is anticipating a lot from the property as it builds its operational base. The Marina Bay Sands resort was opened in April and consisted of retail shops and convention facilities at first. In fact half of the complex had to be up and running and open for business before the could be granted a casino license.
That was a lot to commit to a $5.6 billion project that would depend on the casino to survive, but it was a gamble that will pay off for the company. According to Adelson’s projections the earnings – before taxes – “will be the highest percentage that any casino has ever experienced, at least in our universe. As we get ramped up, I see us with extraordinarily high percentage of EBITDA to sales. Asia is the mecca for gaming and we intend to be as aggressive, as assertive as we need to be in order to develop other locations." Link
