Las Vegas Sands
is in talks with Singapore's government and banks in Hong Kong and Macau as a cash shortage threatens $16 billion of casino developments in Asia, according to a published report.
Sheldon Adelson, who controls Las Vegas Sands, and government officials, who met this week, will pledge to complete the $4 billion project in Singapore,
reports, citing a person with knowledge of the meeting. Hong Kong and Macau bankers also are discussing financing for Las Vegas Sands' Macau projects.
Las Vegas Sands seeks funding to stave off defaulting on loans while facing ``substantial doubt'' about its ability to survive, the company disclosed Thursday. Casino revenue in Macau, where the company earns about two-thirds of its sales, fell in the second and third quarters for the first time in at least three years,
Las Vegas Sands said in a regulatory filing it may have to cut spending on developments and raise more capital to meet lenders' requirements. The company may have to delay or suspend its Macau projects ``if the company is not able to obtain the requisite financing or the terms are not as favorable as it anticipates,'' the company said in its filing, according to
This article was written by a staff member of TheStreet.com.