Las Vegas Sands Shows Interest in Acquiring Crown Resorts, Wynn and Okada Manila

Las Vegas Sands has been more than a successful company in the recent past, as it has showed a great increase in revenues and readiness for new projects. Now the operator may be interested in acquiring one or possibly more of Crown Resorts, Wynn Macau, and Okada Manila venues.

The owner of Las Vegas Sands sees a good opportunity for purchase, giving that trio of operators have experienced significant cuts in the most recent period.

More About Plan

According to the Union Gaming report, LV Sands and its owner, Sheldon Adelson, are looking to obtain an advantage in the market by purchasing new venues around the world.

Adelson noted:

“We are interested in M&A [mergers and acquisitions] … I’m not going to give up on developing Integrated Resorts. I’m going to add on to our strategic thinking, strategic priorities that we can acquire because most of the other companies don’t have the balance sheet that we do, and they don’t have the potential market that we do … so I’m now taking on the strategy of both acquiring and building and developing.”

The aforementioned venues are good targets for Las Vegas Sands taking into consideration their proximity to the Asian market and, particularly, to Chinese customers, according to Union Gaming’s John DeCree.

All these operators are currently going through a tough period with Wynn Macau facing losses of $154 million. Wynn additionally holds substantial assets in Macau and its acquisition, according to DeCree “makes the most strategic sense for LVS.”

The last target location for the operator is Okada Manila, situated in the fast-growing local market. Union Gaming issued the notification:

“While the Philippines gaming market doesn’t rival Las Vegas or Macau in of regulatory maturity and transparency, we think the region possesses many of the same supply-driven attributes that made Macau an attractive investment opportunity 15 years ago. As such, we think the high-quality gaming assets in Manila could be given some serious consideration … Okada Manila tops our list of potential M&A targets in Manila. Now that construction on the final hotel tower of phase I at Okada Manila is nearly complete, the property is ready to reach its potential on the other side of the pandemic.”

Source:

“Las Vegas Sands may be interested in Crown, Okada acquisitions”, calvinayre.com, May 7, 2020.