Skip to main content

(Updated with stock movements for Las Vegas Sands and additional companies in the sector.)



) --

Las Vegas Sands

(LVS) - Get Free Report

finally got approval for its Hong Kong initial public offering of its Macau assets, according to several reports.

The IPO is expected to raise about $2 billion for the struggling casino operator and will be used to repay major debt and finish a derailed project in Macau. The company has about $11.76 billion in debt as of Sept. 30.

Las Vegas Sands is expected to begin trading on the exchange by the end of November.

Shares of Las Vegas Sands are receiving a boost on the news, jumping 6% to $15.64 in morning trading. Other casino operators, however, are not as lucky.

Boyd Gaming

(BYD) - Get Free Report

is tumbling 6.5% to $7.54, Wynn is falling 2.1% to $55.15 and

Isle of Capri


is off 3.8% to $8.02.

Earlier this month, rival

Wynn Resorts

(WYNN) - Get Free Report

debuted its Macau assets on the exchange with much fanfare, and investors are waiting to see if Sands' IPO will be as successful.

On Thursday, the casino operator said it widened its third-quarter loss on higher taxes. Revenue inched up 3% to $1.14 billion, as it received a boost from its Macau operations.

Las Vegas Sands also said its development in Singapore is on track to open in the first quarter of next year.

-- Reported by Jeanine Poggi in New York

Follow on


and become a fan on