Stock market rattles Las Vegas Sands
By Esther Fung, TODAY | Posted: 23
October 2008 1211 hrs
Photos 1 of 1
SINGAPORE : Questions have been raised about the health of
United States gaming company Las Vegas Sands, which is building
Marina Bay Sands resort here.
The company’s share price has plunged from a 52-week high of
US$144.15 to Tuesday’s price of US$12.43 on concerns about a
slowdown at its US operations, profitability of its Macau casinos
and high gearing.
Mr Bill Eadington, director of the Institute for the Study of
Gaming and Commercial Gaming at the University of Nevada in Reno,
said the share price plunges at Las Vegas Sands and two other
gaming firms reflect investor concerns about the firms, reported
the online version of the Reno Gazette Journal.
“Either they are phenomenally good (stock) buys, or some of these
companies are not going to be around,” he said.
In the worst-case scenario, if the US company goes bankrupt, Marina
Bay Sands is unlikely to escape unscathed, said market
observers.
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If Casino collapse, will it drag down the Banks which loaned it
money to build the resort?
Which banks had loaned money to the Casino? POSB? DBS ?W ill
they be affected? Will your money be affected?
Good luck to all involved....
if casino collapse, all of us will be affected. gahmen will
impose various taxes to raise money and maybe dip into our
reserve.
