Las Vegas Sands Corp. is a chain of casino hotels founded by Sheldon G. Adelson. Its first casino, the Italian themed resort ‘The Venetian’, was opened in Las Vegas in 1999. The company went public in 2004, and now has three resorts and a convention center in the United States, three resorts in Macao, China, as well as a resort in Singapore. Many of the casino-resorts offer various amenities, including restaurants, entertainment facilities, and malls. The entertainment facilities host live performances such as music concerts, sporting events, dance performances and variety shows.
The casinos are Las Vegas Sands’ biggest business segment in terms of revenue, generating over two thirds of the company’s annual revenue. The Las Vegas Sands is the largest casino company in the world, generating around 2.5 billion U.S. dollars more in revenue than its closest competitor MGM Resorts. The company’s expansion into the Chinese market has contributed to its success, with the Venetian Macao grossing some of the highest revenue in the corporation.
The Las Vegas Sands Corporation is the fourth largest travel and leisure company in the world in terms of market value. Its global value could be attributed to the company’s continuous expansion. In addition to its expansion into the Chinese market Las Vegas Sands also opened three malls at its properties between 2010 and 2012. The company also owns one of the largest convention centers in the United States. The successful business model has allowed Las Vegas Sands to almost double its total assets to almost 21 billion U.S. dollars in 2015 compared to 2007.
Las Vegas Sands is also one of the leading travel and leisure companies in the United States with a market value greater than major hotel chains such as the Marriott and Hilton. Hotel accommodation is the second biggest business segment for the company. In 2015, all of the hotel properties had occupancy rates of over 80 percent, the Sands Macao had the highest with a rate of 99.3 percent.
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