Does anybody know if Sands still has plans for Hengqin?
I saw today a little ditty saying that 3 of the 6 macau gaming concessionaires have development plans for Hengqin.
Back in the heady days before the crash, Sands had very big plans for Hengqin, but there's been nothing said since they stopped talking about developing there as part of Sand's struggles with the global recession.
Has anybody heard whether or not Sands still has any plans there? There's been nada in recent CCs that I've reviewed.
you know who may be able to help you with the Hengqin question, Spok, Grifft as he is in Macau now and is spending a good amount of time looking and observing.....on the mpel board Grifft
's comments and believe mentions something...might be worth taking a look. goos.
I don't want to tell you the wrong thing so recommend you contact LVS Investor Relations with the question, but I believe they cancelled all their plans. If they were still planning such a project I suspect it would have been mentioned on the CC or at least be listed in the SEC filing.
In the 2008 10-K Annual Report filed Mar 2, 3009 it said:
"Hengqin Island Development Project
We have entered into a non-binding letter of intent with the Zhuhai Municipal People’s Government of China to work together to create a master plan for, and develop, a leisure and convention destination resort on Hengqin Island, which is located within mainland China, approximately one mile from the Cotai Strip. In January 2007, we were informed that the Zhuhai Government established a Project Coordination Committee to act as a government liaison empowered to work directly with us to advance the development of the project. Under the revised development plan, we have indefinitely suspended the project. "
I think that is the last I have heard of it and I don't see anything in any of the subsequent year reports.
Now that doesn't mean they are not thinking of doing something new going forward but keeping it quiet, but I certainly haven't heard of anything new and it wouldn't really fit into their business model of IR with a casino unless they justify it as supporting to their Macau properties which it would be.