Las Vegas Sands Corp. (NYSE: LVS) marked another milestone today with a ceremony celebrating the topping off of The Venetian Macao Resort Hotel in the People's Republic of China Special Administrative Region of Macao.
"This represents yet another step in our efforts to reposition Macao as north Asia's top destination for leisure and business travelers," said Sheldon G. Adelson, chairman and chief executive officer of Las Vegas Sands Corp. "I am very proud of the work our team has done here in Macao getting to this point and I am looking forward to our opening next year."
Mr. Adelson laid a ceremonial gold brick indicating the completion of the construction of the 39-storey building. The ceremony also featured the unveiling of a statue of the Angel Gabriel. The 15-foot-high, five-ton statue will rest atop the Campanile Tower, situated at the front of The Venetian Macao.
"Just as the Sands Macao changed the landscape in Macao, so will The Venetian Macao," said William Weidner, president and chief operating officer of Las Vegas Sands Corp. "The Venetian will be Macao's first truly integrated resort and will offer business and leisure guests an unrivalled experience."
Opening next summer, The Venetian Macao will be one of the largest hotels in Asia. It will feature nearly 3,000 all-suite rooms, 1.2 million-square- feet of meeting, convention and exhibition space, world-class entertainment in a 15,000-seat arena, and more than one million square feet and 350 premium retailers in a luxurious retail mall.
The Venetian Macao will also serve as the anchor of the Cotai Strip(TM), a master planned development of resort and casino properties. The Cotai Strip will feature hotels operated by some of the most prestigious names in the hotel industry, including, Four Seasons, Sheraton, St. Regis, Shangri-La, Traders, Hilton, Conrad, Fairmont, and Raffles. Las Vegas Sands Corp. will own and construct each of the hotels as well as operate the casinos and entertainment venues in each hotel.
Statements in this press release which are not historical facts are "forward looking" statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward- looking statements involve a number of risks, uncertainties or other factors beyond the Company's control, which may cause material differences in actual results, performance or other expectations. These factors include, but are not limited to general economic conditions, competition, new ventures, government regulation, legalization of gaming, interest rates, future terrorist acts, insurance, and other factors detailed in the reports filed by Las Vegas Sands Corp. with the Securities and Exchange Commission.
About Las Vegas Sands Corp.
Las Vegas Sands Corp. (NYSE: LVS) is one of the leading international developers of multi-use integrated resorts.
The Las Vegas, Nevada-based company owns The Venetian Resort Hotel Casino and the Sands Expo and Convention Center in Las Vegas and the Sands Macao in the People's Republic of China (PRC) Special Administrative Region of Macao. The company is currently constructing two additional integrated resorts both scheduled to open in 2007: The Palazzo Resort Hotel Casino in Las Vegas and The Venetian Macao Resort Hotel Casino in Macao.
LVS is also developing the Cotai Strip(TM), a master-planned development of resort casino properties in Macao, and was selected by the Singapore government to build The Marina Bay Sands(TM), an integrated resort scheduled to open in Singapore by the end of 2009. The company is also working with the Zhuhai Municipal People's Government of the PRC to master-plan the development of a leisure resort and convention complex on Hengqin Island in the PRC.
Contacts:
Investment Community: Scott Henry,
Senior Vice President, Finance,
(702) 733-5502
Media: Ron Reese,
Executive Director of Communications,
(702) 414-3607
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