Maria Bartiromo's Investor Agenda
MARIA BARTIROMO NEWSLETTERS
MOST SHARED
- The 'Real' Jobless Rate: 17.5% Of Workers Are Unemployed
- Why Amazon Rules Retail
- Wave of Debt Payments Facing US Government
- The Social Media Gaming Threat
- China Eastern to Complete Shanghai Air Buy by End '09
- Paul: Audit the Fed
- Gold Will Collapse Like Oil Did in 2008: Charts
- JAL Slides to Record Low on Bankruptcy Jitters
- Prepare For Large Decline In Stocks, Next Year?
- Lyondell Urged to Consider Reliance Takeover Offer
- Can Murdoch Help Bing Challenge Google and Shift the Content Equation?
- HP's Mark Hurd
- HP Comes in As Expected; Is It Time to Buy?
- 9 Stocks That Play Rising Water Costs: Strategists
- Weis' Deal Likely Won't Change Big Money Contracts
- Gold Prices Can Double in 3 Years: Portfolio Manager
- Nov. 23: Unusual Volume Leaders
- Help Wanted—Please Run $4 Billion University
- Apple Comes to AT&T's Rescue
- Tuesday's Heavy Dose of Data to Dictate 'Risk' Behavior
- World's Largest Share Issue Priced at Deep Discount
- Obama says Boosting US Jobs is Top Priority
- GM to Cut up to 9,500 Jobs in Europe
- Playboy to Outsource Most Magazine Operations: Report
- Why the Dollar Will Likely Stay Weak for Some Time
- Appeals Court Denies Microsoft's Alcatel Petition
- HP Comes in As Expected; Is It Time to Buy?
- Cramer: What Monday’s Housing Number Really Means
MARIA BARTIROMO VIDEO
MARIA BARTIROMO'S NEW FREE NEWSLETTER
BUSINESSWEEK
RSS FEED
Text Size 
Senior Field Producer
Billionaire casino owner Sheldon Adelson (like “Saddle”) celebrated the grand opening of another casino yesterday. Not in Vegas but Bethlehem. Yes you’re reading this correctly, Bethlehem, Pennsylvania’s “Sands Casino Resort.”
When Sheldon spoke to Maria on "Closing Bell" he said regional casinos looks promising. Adelson said “I see the light at the end of the tunnel in our other properties, but right here at the Sands Bethlehem, it’s very gratifying to have opened the first Brownfield site that has been closed for about 15 years. It’s very gratifying we’re one of the few companies able to put 1,000 people to work here.”
Las Vegas Sands [LVS
Loading...
()
] IPO’d back on Dec. 15, 2004 at $29 a share. Now it’s under ten bucks a piece. That’s a 65 percent from its offering price.
 |
Source: S&P |
So far this year, it’s up more than 62 percent (although it was down 94 percent last year). Its competitors are not off to a good start, MGM Mirage [MGM
Loading...
()
] has dropped 47 percent and Wynn Resorts [WYNN
Loading...
()
] has declined 12 percent.
Adelson sees signs of a turnaround in Las Vegas, but says Macau is the next big growth spot for the company. The casino operator plans to raise funds to restart its $12 billion casino-resort project on Macau’s Cotai Strip. Adelson says, "We’re building what will be the largest building in the world almost 14-million square feed with 6,500 rooms and four different hotel brands."
When Maria and I traveled on assignment in China back in 2006, she made side trip to Macau. She visited Adelson’s casino there – not a lot of glitz, quite different than Vegas. What you saw were tables and tables. The casino goers there don’t necessarily look like they want the glitz, they just want to sit down and play. Adelson said “they like to play mahjong, they like to go out and challenge luck. That goes back for centuries in Chinese culture”.
The Macau project is currently about 60 percent finished.
_____________________________
_____________________________
Questions? Comments? Write to
Data is a real-time snapshot *Data is delayed at least 15 minutes