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Las Vegas Sands Corp. Chairman Sheldon Adelson told reports in Singapore yesterday that the gaming company hopes to raise as much as $12 billion by selling retail stores and condominiums at its Macau properties.
“It will be like $12 billion if we add up all the apartments and all the retail in Macau” Adelson said.
Sands hopes that the sale will raise enough money to recoup construction cost, “That is our fundamental business model — we get our money back from the sale of non-core business assets,” he said.
The Macau assets Sands will look to sell include the Four Seasons apartments in the Four Seasons hotel and shopping areas in the Venetian Macau casino resort as well as condominiums at the St. Regis hotel tower, where construction is resuming.
Adelson said that they would likely start selling the assets within 2 ½ years.
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