MGM’s so-called asset-light model has seen aggressive sales of properties that are then leased back, bolstering its cash position, while Sands’ US$6.25 billion sale of its Las Vegas properties has provided it with ample funds. Galaxy maintained more cash than debt through Covid-19, due to the company’s conservative financing and spending strategy over the past two decades. The companies are in a good financial position for expansion. ![]() Separately, Las Vegas Sands has repeatedly expressed interest in Thailand.Ĭhief executive Robert Goldstein said during an earnings call in January that the group is “looking hard” at the country and would love to have a presence in the market. MGM has no base in Thailand and it has not spoken to a committee, a company spokesman said in an e-mailed statement. The discussion took place before May’s general election and, while it is unclear what legislation the new government will enact, the committee’s proposal that several casino resorts be established was approved by the House of Representatives in January.Ī representative for Galaxy did not comment on the group’s plans.
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