Las Vegas Sands Corp.: A High-Risk, High-Return Strategy?
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Case Details:
Case Code : BSTR273
Case Length : 15 pages
Period : 1988-2007
Pub Date : 2008
Teaching Note :Not Available
Organization : -
Industry : Entertainment
Countries : USA, Macau SAR
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Please note:
This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
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Excerpts
The Vision
In July 2003, LVSI announced plans to build a Las Vegas-style casino complex on The Cotai Strip, a reclaimed piece of land that connected the islands of Taipa and Coloane. LVSI had bought the rights for the Cotai Strip trademark (Refer Exhibit VI for the trademark). At the press conference, the company displayed a master plan developed by Skidmore, Owings and Merrill...
The Rewards and The Risks
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LVSC's announcement of its plans to invest US$ 12 billion in
Macau was received with both interest and skepticism. While some industry
analysts were confident that the company would be able to earn high returns on
its investments, others were not too sure.
LVSC's success with Sands Macau had convinced the top management, especially
Adelson, that there was huge business potential in Macau. "After the first year,
once we hit within a fraction of 1 per cent of our projection, I said, 'That's
it, the potential is far greater.' We earned US$ 460 million last year (2006) at
the Sands, and no hotel in history has ever done that. We earned more than a lot
of hotel chains,"said Adelson...
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Outlook
In August 2007, LVSC announced that it would start an online gaming venture in
the UK. The company said that its online venture would "combine elements of its
popular Las Vegas casino gaming brands (Palazzo, Paiza, The Venetian and The
Sands) and feature a full package of casino games and poker."...
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ExhibitsExhibit I: A Photo of the
Original Las Vegas Sands Hotel
Exhibit II: About Sheldon Adelson
Exhibit III: Las Vegas Sands Corp.'s Properties
Exhibit IV: Las Vegas Sands Corp.'s Stock Chart
Exhibit V: Las Vegas Sands Corp.'s Balance Sheet
Exhibit VI: The Cotai Strip Trademark
Exhibit VII: An Artist's Impression of the Venetian Macau |
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