Las Vegas Sands Reportedly Seeks $9 Billion Loan for Singapore Marina Bay Expansion

Las Vegas Sands Reportedly Seeks $9 Billion Loan for Singapore Marina Bay Expansion

By Michael Harrison

November 22, 2024 at 11:18 PM

Las Vegas Sands' Marina Bay Sands is reportedly seeking a $9 billion loan to fund expansion plans at its Singapore casino resort. This significant financing would support the property's growth initiatives, marking a major development for the renowned gaming operator.

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Recent casino industry updates reveal Tilman Fertitta has increased his ownership stake in Wynn Resorts to 9.9%, causing the company's stock to surge. Additionally, Gateway Casinos is exploring private credit markets for $1.8 billion in financing.

The Oakland Athletics are considering a stake sale at a $2 billion valuation, while Golden Entertainment may pursue a sale-leaseback arrangement for an undisclosed casino property.

In New Orleans, Caesars' property could experience increased business due to the Taylor Swift effect, while sports betting industry experts predict mergers and acquisitions will be driven by new products and technology developments.

New York Governor Hochul has addressed speculation regarding Steve Cohen's Queens casino bid, stating she is not providing special assistance. Meanwhile, JPMorgan has acquired a significant voting block in Star Entertainment shares.

The Las Vegas NBA arena project has shifted focus to the Rio site, and Fanatics is considering an equity sale to employees at a $25 billion valuation, representing a discount from previous valuations.

Industry observers note that OpenBet might sell at a reduced price, while Flutter is reportedly close to finalizing a deal for Playtech's consumer business division.

In Illinois, local officials are attempting to attract Boyd Gaming with incentives for a land-based casino development, demonstrating ongoing expansion efforts in regional gaming markets.

This comprehensive overview reflects the dynamic nature of the gaming industry, with significant developments in financing, ownership structures, and expansion initiatives shaping the sector's future.

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