Full Description

Las Vegas Sands Corp (LVSC), incorporated on August 2004, owns and operates The Venetian Resort Hotel Casino (The Venetian Las Vegas), The Palazzo Resort Hotel Casino (The Palazzo) and The Sands Expo and Convention Center (the Sands Expo Center) in Las Vegas, Nevada, and the Sands Macao, The Venetian Macao Resort Hotel (The Venetian Macao) and the Four Seasons Hotel Macao, Cotai Strip (the Four Seasons Macao) in Macao, People’s Republic of China (China). The Company is creating a master-planned development of integrated resort properties, anchored by The Venetian Macao. In addition, the Company is developing Marina Bay Sands, an integrated resort in Singapore, and Sands Casino Resort Bethlehem (the Sands Bethlehem), an integrated resort in Bethlehem, Pennsylvania.

Las Vegas

With the opening of The Palazzo in December 2007, the Las Vegas Operating Properties represent an integrated resort with approximately 7,100 suites and approximately 225,000 square feet of gaming space, which includes approximately 260 table games and 2,850 slot machines. The Venetian Las Vegas has 4,027 suites situated in a 3,014-suite, 35-story three-winged tower rising above the casino and the 1,013-suite, 12-story Venezia tower situated above a parking garage. The casino at The Venetian Las Vegas has approximately 120,000 square feet of gaming space and includes approximately 130 table games and 1,450 slot machines.

The Venetian Las Vegas features a range of amenities for its guests, including a Paiza Clubtm offering services and amenities to customers, including luxurious suites, spa facilities and private gaming rooms; a Canyon Ranch SpaClub, operated by Canyon Ranch, and a theater/entertainment complex featuring a range of entertainment. The Venetian Las Vegas also includes an enclosed retail, dining and entertainment complex of approximately 440,000 net leasable square feet (The Grand Canal Shoppes), which was sold to General Growth Partners (GGP) in 2004.

The Palazzo features modern European ambience and design of Italian affluent living, is situated adjacent to and north of The Venetian Las Vegas, and is directly connected to The Venetian Las Vegas and Sands Expo Center. The casino at The Palazzo is approximately 105,000 square feet of gaming space and has approximately 130 table games and 1,400 slot machines. The Palazzo has a 50-floor luxury hotel tower with 3,066 suites and includes a Canyon Ranch SpaClub; a Paiza Club; an entertainment center; and an enclosed shopping and dining complex of approximately 400,000 net leasable square feet (The Shoppes at The Palazzo), which was sold to GGP on February 29, 2008. The Company owns and operates an approximately 1.1 million gross square foot meeting and conference facility that links Sands Expo Center to The Venetian Las Vegas and The Palazzo.

Macao

The Macao operations consist of the Sands Macao, The Venetian Macao, Four Seasons Macao and other ancillary operations that support these properties. The Company owns and operates the Sands Macao, the first Las Vegas-style casino in Macao, pursuant to a 20-year gaming subconcession. The Sands Macao is situated near the Macao-Hong Kong Ferry Terminal on a waterfront parcel centrally located between the Gonbei border gate and the central business district.

The Sands Macao includes approximately 229,000 square feet of gaming space and has approximately 450 table games and 1,100 slot machines or similar electronic gaming devices. The Sands Macao also includes a 289-suite hotel tower, several restaurants, a spacious Paiza Club, a theater and other services and amenities.

On August 22, 2007, the Company opened The Venetian Macao, the anchor property for the Cotai Strip development, which is located approximately two miles from Macao’s Taipa Temporary Ferry Terminal on Macao’s Taipa Island. The Venetian Macao includes approximately 550,000 square feet of gaming space and has approximately 620 table games and 2,130 slot machines or similar electronic gaming devices, and a designed capacity of approximately 1,150 table games and 7,000 slot machines or similar electronic gaming devices. The Venetian Macao, with a theme similar to that of The Venetian Las Vegas, also features a 39-floor luxury hotel tower with over 2,900 suites; approximately one million square feet of retail and dining offerings; a convention center and meeting room complex of approximately 1.2 million square feet; a 15,000-seat arena that has hosted a range of entertainment and sporting events, and a 1,800-seat theater that features Zaia, an original production from Cirque Du Soleil.

On August 28, 2008, the Company opened the Four Seasons Macao, which is located adjacent to The Venetian Macao. The Four Seasons Macao features 360 rooms and suites managed by Four Seasons Hotels Inc.; approximately 70,000 square feet of gaming space with approximately 120 table games and 200 slot machines or similar electronic gaming devices; several food and beverage offerings; conference and banquet facilities, and retail space of approximately 211,000 square feet, which is connected to the mall at The Venetian Macao.

United States Development Projects

The Company is in the process of developing Sands Bethlehem, a gaming, hotel, retail and dining complex located on the site of the historic Bethlehem Steel Works in Bethlehem, Pennsylvania, which is approximately 70 miles from midtown Manhattan, New York. Sands Bethlehem is also expected to be home to the National Museum of Industrial History, an arts and cultural center, and the broadcast home of the local PBS affiliate. In August 2007, the Company’s indirect majority-owned subsidiary, Sands Bethworks Gaming LLC (Sands Bethworks Gaming), was issued a Pennsylvania gaming license by the Pennsylvania Gaming Control Board. LVSC owns 86% of the economic interest of the gaming, hotel and entertainment portion of the property through the ownership interest in Sands Bethworks Gaming and more than 35% of the economic interest of the retail portion of the property, through the ownership interest in Sands Bethworks Retail, LLC (Sands Bethworks Retail).

The Company is continuing construction of the casino component of the 124-acre development, which would open with 3,000 slot machines, and would include a range of dining options, as well as the parking garage and surface parking. As part of the revised development plan, construction activities on the remaining components, which include a 300-room hotel, an approximate 200,000-square-foot retail facility, a 50,000-square-foot multipurpose event center and a range of additional dining options, have been suspended and are intended to recommence when capital markets and general economic conditions improve. LVSC is constructing a St. Regis-branded high-rise residential condominium tower, the St. Regis Residences at The Venetian Palazzo (the St. Regis Residences), which is situated between The Palazzo and The Venetian Las Vegas on the Las Vegas Strip and was expected to feature approximately 400 luxury residences.

Macao Development Projects

LVSC has submitted plans to the Macao government for the Cotai Strip developments, which represent five integrated resort developments, in addition to The Venetian Macao and Four Seasons Macao on an area of approximately 200 acres (which refer to as parcels 3, 5, 6, 7 and 8). The developments include hotels, exhibition and conference facilities, casinos, showrooms, shopping malls, spas, restaurants, entertainment facilities and other amenities. The Company had commenced construction or pre-construction for these five parcels and planned to own and operate all of the casinos in these developments under the Macao gaming subconcession. In addition, LVSC is completing the development of some public areas surrounding the Cotai Strip properties on behalf of the Macao government

Singapore Development Project

In August 2006, the Company’s wholly owned subsidiary, Marina Bay Sands Pte. Limited (MBS), entered into a development agreement (the Development Agreement) with the Singapore Tourism Board (the STB) to build and operate an integrated resort called Marina Bay Sands in Singapore. Marina Bay Sands is expected to include three 50 plus story hotel towers (totaling approximately 2,600 rooms), a casino, an enclosed retail, dining and entertainment complex of approximately 800,000 net leasable square feet, a convention center and meeting room complex of approximately 1.3 million square feet, theaters and a structure at the bay-front promenade that would contain an art/science museum.

Hengqin Island Development Project

LVSC has entered into a non-binding letter of intent with the Zhuhai Municipal People’s Government of China to work together to create a master plan for, and develop, a leisure and convention destination resort on Hengqin Island, which is located within mainland China, approximately one mile from the Cotai Strip. In January 2007, the Company was informed that the Zhuhai Government established a Project Coordination Committee to act as a government liaison empowered to work directly with the Company to advance the development of the project. Under the revised development plan, LVSC have indefinitely suspended the project.