Boston, MA 04\/16\/2014 (wallstreetpr) \u2013\u00a0Las Vegas Sands Corp. (NYSE:LVS)<\/b> is a $60 billion operator of casinos. The company operates in the U.S. and Asia, particularly in China\u2019s gambling capital Macau.<\/p>\n
Even though online gambling activities are increasingly rapidly because of the convenience and fun that Internet gambling offers players, Las Vegas Sands is not for it, at least for now.<\/p>\n
The company\u2019s COO Michael Leven recently said that they do not support legalization of Internet gambling. The executive observed that Las Vegas Sands Corp. (NYSE:LVS) is opposed to online gambling on moral grounds. In other words, Mr. Leven is worried that legalizing Internet gambling will allow children access to casinos.<\/p>\n
Unpopular stance<\/b><\/p>\n
However, the position of Las Vegas Sands with regards to online gambling clearly conflicts with the general industry sentiment where greater online presence is expected to enhance the revenue of casino operators. In areas where limited online casino offerings are allowed, operators are witnessing robust business.<\/p>\n
It is also likely that the government might consider legalizing Internet gambling to get more taxes from the business. States like Nevada where online poker is legalized tax the business at 6.75 percent. However, as much as Internet gambling looks lucrative, it seems Las Vegas Sands Corp. (NYSE:LVS) will stand its ground in opposing the move to legalize online gambling.<\/p>\n
2020 Summer Olympics<\/b><\/p>\n
Nonetheless, Mr. Leven\u2019s opposition to Internet gambling does not mean that the company is done with seeking new opportunities. Like most other multinational casino operators, Las Vegas Sands is eying business opportunity in Japan. The 2020 Summer Olympics in Japan is seen as a big business opportunity for casino companies. Moreover, the country already receives millions of international tourists annually that make it a promising market for the casino industry.<\/p>\n
However, the challenge is that gambling is outlawed in Japan. It is, however, reported that talks are underway that might result in lifting of the legal restriction on casino activities. That move will not only enable major casino operators like Las Vegas Sands Corp. (NYSE:LVS) to expand their business empire, but also enable the country to enhance its revenue collection from the casino industry.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 04\/16\/2014 (wallstreetpr) \u2013\u00a0Las Vegas Sands Corp. (NYSE:LVS) is a $60 billion operator of casinos. The company operates in the U.S. and Asia, particularly […]<\/p>\n","protected":false},"author":15,"featured_media":19667,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[2352,985],"stock_ticker":[],"class_list":["post-19666","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-las-vegas-sands-corp-nyselvs","tag-nyselvs","entry"],"acf":[],"yoast_head":"\n