If you own Las Vegas Sands stock, it may be time to panic. On Thursday, the company announced that its second quarter finished with a total of $175.9 million in losses. Compared to the second quarter of 2008, that’s more than $165 million more in losses. Revenue was also down approximately 5% from last year to $1.06 billion.
Investors were obviously scared by those numbers. In aftermarket trading, Las Vegas Sands stock fell more than 10%.
Despite this apparently bad news, CEO Sheldon G. Adelson was optimistic.
Said Adelson: “While our operating results reflect the challenging economic environment, we remain pleased that our …read more

Las Vegas is the land of possible riches — or at least it used to be that way. In the first quarter of 2009, the biggest casino companies in the town struggled. Las Vegas Sands, MGM Mirage and Wynn Resorts are all feeling the affects of the economic slowdown in the United States and around the world.
Casino industry experts based in Las Vegas say that people who visited during the first quarter were much more careful with their money. That revelation isn’t surprising at all considering the way most people in the country are having to work harder to make …read more

One of the overlooked victims of the global economic downturn is the casino industry. On Tuesday, two of the four largest companies in the casino industry, Las Vegas Sands and Wynn Resorts, said that they were successfully able to alter their debt agreements. The new agreements will give the companies more time and a better opportunity to repay the money that they owe.
Las Vegas Sands and Wynn Resorts have a big presence in Las Vegas. However, with less people going to Las Vegas and less spending per capita in Las Vegas, it’s not a big surprise that they aren’t rolling …read more