Skip to main content

Casinos Distance Themselves From Vegas

Las Vegas Sands is looking to drop the 'Vegas' from its name.

NEW YORK (

TheStreet

) --

Las Vegas Sands

(LVS) - Get Las Vegas Sands Corp. Report

is considering dropping the "Vegas" from its name, according to reports.

The casino operator would either change its name to Sands International or Sands Resort International. While Sands is based in Sin City, the crux of its business these days is actually conducted in Macau, China, with 70% of its revenue coming out of the gambling enclave.

Sands owns three casinos in Macau, and recently opened its first location in Singapore.

The move -- or even the consideration of it -- is part of a larger trend. Las Vegas-based casinos have been looking to detach themselves from the once dominant gaming epicenter. In June, MGM Mirage changed its name to

MGM Resorts International

(MGM) - Get MGM Resorts International Report

to reflect the growing international presence of the brand.

Wynn Resorts

TheStreet Recommends

(WYNN) - Get Wynn Resorts, Limited Report

has gone a step further, expressing interesting in moving its headquarters out of Las Vegas and into Macua. Wynn today generates nearly 70% of its revenue from Macau.

The move should not come as a surprise, as the Las Vegas Strip continues to bounce along the bottom. In July, gaming revenues were flat on the Strip and tumbled 4.9% within the entire state of Nevada.

If you subtract out baccarat, which saw a 9% gain year-over-year, the revenue on the Strip actually declined 1.5%.

--Written by Jeanine Poggi in New York.

>To contact the writer of this article, click here:

Jeanine Poggi

.

>To follow the writer on Twitter, go to

http://twitter.com/jpoggi

.

>To submit a news tip, send an email to:

tips@thestreet.com

.