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Regal Backs Out of Casino Deal with Sands, Will Build its Own

10 September 2005
Regal Hotels International Holdings Ltd and Las Vegas Sands Corp had been talking about working together on developing a Macau casino, but Regal opted to continue the casino project without the Vegas Sands Corp.

Regal operates seven hotels; five in Hong Kong and two on the Chinese mainland, while Sands is a large American casino operator which operates several casinos. Regal said that the two companies were unable to resolve some differences to complete an agreement.

In the original deal, Regal was supposed to build the hotel and then lease the casino floor area to Sands. Sands has signed similar agreements with a number of other hotel developers in an attempt to build an area reminiscent of the Las Vegas Strip. In addition, Sands is working on a hotel casino and resort of its own.
OCN Staff
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