LAS VEGAS, Sept. 30 /PRNewswire-FirstCall/ -- Las Vegas Sands Corp.
(NYSE: LVS) today announced that Sheldon G. Adelson, its chairman, chief
executive officer and principal stockholder, and his family, have completed an
investment in the company of $475 million in convertible senior notes in a
private transaction.
"My family and I are pleased to make an additional investment in Las Vegas
Sands Corp. as the company advances its development plans both domestically
and around the globe," said Mr. Adelson. "While the credit markets are
experiencing turbulence, our strategy remains alive and well and our business
continues to march forward. Little of our fundamental business strategy has
changed and this investment will strengthen our capitalization and liquidity
position as we continue to execute our plans."
The convertible senior notes mature on October 1, 2013, pay cash interest
at 6.5% and are convertible into common stock at a price of $49.65.
The convertible senior notes will not be registered under the Securities
Act of 1933, as amended, and may not be offered or sold in the United States
absent such registration or an exemption from the registration requirements of
such Act.
This press release shall not constitute an offer to sell or a solicitation
of an offer to buy any security and shall not constitute an offer,
solicitation or sale of any securities in any jurisdiction where such an
offering or sale would be unlawful.
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 the leading international developer
of multi-use integrated resorts.
The Las Vegas, Nevada-based company owns and operates The Venetian
Resort-Hotel-Casino, The Palazzo Resort-Hotel-Casino, and the Sands Expo and
Convention Center in Las Vegas and The Venetian Macao Resort-Hotel and the
Sands Macao in the People's Republic of China (PRC) Special Administrative
Region of Macao. The company also owns the Four Seasons Hotel Macao and is
constructing two additional integrated resorts: Sands Casino Resort
Bethlehem(TM) in Eastern Pennsylvania; and Marina Bay Sands(TM) in Singapore.
LVS is also creating the Cotai Strip(TM), a master-planned development of
resort-casino properties in Macao. At completion, the Cotai Strip will
feature approximately 21,000 rooms from world-renowned hotel brands such as
St. Regis, Sheraton, Shangri-La, Traders, Hilton, Conrad, Fairmont, Raffles,
Holiday Inn, and InterContinental.
SOURCE Las Vegas Sands Corp.
investment community, Scott Henry, +1-702-733-5502, or media, Ron Reese,
+1-702-414-3607, both for Las Vegas Sands Corp.
