Macau
Casino Lending Pushed to $3.8 Billion
As reported by Bloomberg: "Las
Vegas Sands Corp., owner of the Venetian casino
in Las Vegas, led this week's borrowers in Asia
as its loan to expand in Macau boosts the Chinese
city's gaming industry financing to $3.8 billion.
"Las
Vegas Sands is seeking $2.5 billion to help
pay for a hotel and casino resort in the territory,
the company said. MGM Mirage, another Las Vegas
casino company, has said it's borrowing $600
million and Wynn Resorts Ltd. earlier this year
signed $764 million of loans to build in Macau.
"The
amount of Macau gaming financing is almost a
quarter of this year's total syndicated loan
volume for Hong Kong companies, the region's
fourth-largest loan market after Japan, Australia
and South Korea. Las Vegas casino operators
are expanding in Macau to tap gaming revenue
that grew to $5.1 billion last year, just below
the $5.33 billion generated by the Las Vegas
Strip…"
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