Source : TODAY, Thursday, January 8, 2009
LAS Vegas Sands has said it has enough money available to finish its casino project here.
The integrated resort should open by the first quarter of 2010, president William Weidner said last night. The project was originally scheduled to be completed this year.
In November last year, the company Las Vegas Sands announced that it might default on outstanding bonds, signalling its possible bankruptcy.
It added that it would be halting all construction on all properties worldwide due to financial constraints and turned its attention to raising operating capital.
However, it stated then that the Singapore IR was on course for completion on time.
Later in November, the company announced that is had secured US$2 billion ($2.94 billion) in capital-funding commitments. Its total market capitalisation has fallen to US$2.5 billion from a historical high of US$43.7 billion in 2007. AGENCIES
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