Article taken from: finance.yahoo.com
By Sanjana Shivdas and Noor Zainab Hussain (Reuters) – Las Vegas Sands Corp , founded by late casino mogul Sheldon Adelson, will sell its Vegas properties for $6.25 billion, exiting the U.S. gambling hot spot after three decades to focus on Asia, home to the world’s largest gambling hub, Macau. Las Vegas Sands said the deal underscores its strategy of reinvesting in its Asian operations, with a focus on Macau and Singapore. Macau and Singapore accounted for 48% and 35% of the company’s total revenue in 2020, respectively, according to Refinitiv Eikon data. […] The properties being sold by the casino operator include the Venetian Resort Las Vegas and the Sands Expo and Convention Center. […] For 2020, Las Vegas Sands reported a loss of 69 billion, the biggest in its history, as travel restrictions and lockdowns brought the gambling industry to a virtual stand-still.
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