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Las Vegas Sands May Sell Its Vegas Casinos

Las Vegas Sands May Sell Its Vegas Casinos

Las Vegas Sands (NYSE: LVS) is reportedly considering dumping its Las Vegas casinos in a $6 billion sale. Because the casino operator currently derives just 16% of its business from Nevada, the remaining business would be focused solely on the Asian gambling markets of Macao and Singapore. It's a risky bet, though, because Macao monthly gambling revenue, which represents 60% of Sands' business, has declined 90% or more for the past five months due to the coronavirus pandemic and China is cracking down on money flows out of the region, potentially dampening a rebound.