Squeezing liquidity from fixed assets

The dramatic slump in Asia’s VIP revenue over the past two years has forced operators to trim costs and diversify income sources to plug the gap. While much of the focus has been on boosting non-gaming and tapping into the mass market, companies have also been looking at ways of unlocking shareholder value through monetizing extensive fixed assets. Las Vegas Sands in April said it was mulling plans to sell its 800,000 sq ft of retail space at the Marina Bay Sands in Singapore after a government imposed moratorium expires next year. Parent company Las Vegas Sands is one of the largest retail operators on the planet; Sands Retail owns, manages, and leases around 3 million sq ft of mall space across five locations in Asia – the Four Seasons, Parisian, Venetian, Cotai Central and Marina Bay. Chairman Sheldon Adelson says the company has been contacted by several parties and may sell...

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