Las Vegas Sands Earmarks HK$800 Million to Boost Ownership in Sands China

MT Newswires Live

Sep 10, 2024

Sands China (HKG:1928) parent Las Vegas Sands (LVS) plans to boost its shareholding in the Macau casino operator, according to a Tuesday filing with the Hong Kong Exchange.

LVS, through its subsidiary Venetian Venture Development Intermediate II, intends to purchase up to HK$800 million worth of shares in Sands China.

Based on Sands China's Sept. 9 closing price of HK$13.42 per share, LVS plans to purchase up to 59,612,518 shares, or 0.74% of the total issued shares, of its Macau business.

As of Sept. 10, Las Vegas Sands owns 71% of Sands China's issued share capital.

Shares of Sands China closed 3% higher on Tuesday.

Price (HKD): $13.88, Change: $+0.46, Percent Change: +3.43%

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