Boston, MA 05/13/2014 (wallstreetpr) – Las Vegas Sands Corp. (NYSE:LVS) is looking at ways and means to gain a foothold in the casino market in Japan which is largely untapped as of now. The company’s Chief Executive Officer has raised the stakes to as high as $10 billion, and he is convinced that this is an invincible offer and the passport to the company’s entry in the Japanese market.
Key developments
After an attempt of hacking of the company’s websites, the company had shut down all online operations as well as its home page. However, after security systems were put in place and data cleaning was done, a week later the portals across the globe were brought online again for the benefit of customers.
Las Vegas Sands Corp. (NYSE:LVS)’s board had also granted approval for a share re-purchase program amounting to $2 billion. This decision has come in the wake of this resort and casino operator aiming at increasing returns of shareholders.
New partnerships
Las Vegas Sands Corp. (NYSE:LVS) has partnered with Beckham Ventures to form an alliance that will witness the iconic David Beckham come out to promote Las Vegas Sands Corp’s superior, power packed integrated hotel properties in Singapore and Macao. This partnership has brought together one of the most dynamic and evolving businesses of Asia and a global citizen who enjoys unflinching support and popularity in the entire region. The partnership will revolve around developing leisure, retail and dining concepts at Marina Bay Properties in Singapore and Sands China properties in Macao.
Legal hassles
Harwood Feffer LLP is looking at investigation of possible claims of breach of trust on the part of the board of directors of Las Vegas Sands Corp. There has been an allegation of the board failing to discharge its fiduciary obligations towards the company’s shareholders. Las Vegas Sands Corp. (NYSE:LVS) is also facing investigations from U.S. Government agencies on account of breach of Foreign Corrupt Practices Act. All these investigations are burning a hole in othe otherwise deep pockets of the company.
Investigators would also collect evidence about the board members mis-managing the company and misleading the shareholders with incorrect information.
