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On Thursday, Las Vegas Sands announced the selling of an unspecified amount of debt, which had a positive outlook from Fitch Ratings. In July, Las Vegas Sands sold $3.5 billion of corporate bonds in its first sale. The bond had a high rating from three debt evaluation firms, which included Fitch, Moody’s Investors Service, and Standard & Poor’s.

Las Vegas Sands reported that it would reveal the interest rates when giving price offer. The company hopes to use the profit on general corporate purchases, which include shares. Earlier debt offering was completed in three tranches. The maturity dates are in 2024, 2026 and 2029 and interest of 3.2 percent, 3.5 percent, and 3.9 percent respectively.

Sands’ Macau Operations

However, Fitch is unwilling to take up Las Vegas Sands to BBB, which would likely lower interest rates if the company offers to buy debt. The research company has previously agreed that Macau concession risk is faraway.

Las Vegas Sands operates five casinos in Macau which include: Sands Macao, Venetian Macao, and Parisian Macao. The licensing renewal is expected to be done after 2022. New agreement and negotiations might stall given that a new government will be taking over the enclave by December.

Japan IR

Casino.org reported that there are concerns among Las Vegas Sands executive over the cost of building an integrated resort in Japan. However, Fitch believes that the company has the capability of building a world-class resort in the third-largest economy.

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