Las Vegas Sands Corp. Announces Advancement of Hengqin Island Master-Plan Development
LAS VEGAS, Jan. 10 /PRNewswire-FirstCall/ -- Las Vegas Sands Corp. (NYSE: LVS) announced today that the Office of the Zhuhai Municipal People's Government, People's Republic of China (PRC), has issued an official letter informing the company that the Zhuhai Government has now established a Project Coordination Committee specifically related to the company's proposed development of The Venetian Hengqin International Convention and Resort Project in Zhuhai.
The function of a Project Coordination Committee is to act as the government liaison empowered to work directly with the developer to advance the development of a project. While the formation of a Project Coordination Committee is a positive step forward, the project remains subject to governmental approvals customary for projects of this scale in China.
Statements in this press release, which are not historical facts, are "forward looking" statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward- looking statements involve a number of risks, uncertainties or other factors beyond the Company's control, which may cause material differences in actual results, performance or other expectations. These factors include, but are not limited to general economic conditions, competition, new ventures, government regulation, legalization of gaming, interest rates, future terrorist acts, insurance, and other factors detailed in the reports filed by Las Vegas Sands Corp. with the Securities and Exchange Commission.
ABOUT LAS VEGAS SANDS CORP.
Las Vegas Sands Corp. (NYSE: LVS) is one of the leading international developers of multi-use integrated resorts.
The Las Vegas, Nevada-based company owns The Venetian Resort Hotel Casino and the Sands Expo and Convention Center in Las Vegas and The Sands Macao in the People's Republic of China (PRC) Special Administrative Region of Macao. The company is currently constructing two additional integrated resorts both scheduled to open in 2007: The Palazzo Resort Hotel Casino in Las Vegas and The Venetian Macao Resort Hotel Casino in Macao.
LVS is also developing the Cotai Strip(TM), a master-planned development of resort casino properties in Macao, and was selected by the Singapore government to build The Marina Bay Sands(TM), an integrated resort scheduled to open in Singapore by the end of 2009. The company is also working with the Zhuhai Municipal People's Government of the PRC to master-plan the development of a leisure resort and convention complex on Hengqin Island in the PRC.
Investment Community: Scott Henry, Senior Vice President, Finance,
Media: Ron Reese, Executive Director of Corporate Communications,
SOURCE Las Vegas Sands Corp.
/CONTACT: Investment Community, Scott Henry, Senior Vice President,
Finance, +1-702-733-5502, or Media, Ron Reese, Executive Director of Corporate
Communications, +1-702-414-3607, both of Las Vegas Sands Corp.
CO: Las Vegas Sands Corp.; Venetian Resort Hotel Casino
ST: Nevada, China
IN: TRA LEI FIN RLT