Las Vegas Sands Forecasts Integrated Resorts to Boost Spain Tourism
1. Las Vegas Sands Anticipates that Integrated Resorts
will Drive Broad Benefits for Spain’s Tourism Industry
Marina Bay Sands, model for the potential Integrated Resorts in Spain, contributed to
Singapore’s record tourism numbers and receipts in 2011
BARCELONA/MADRID, March 1, 2012 – Las Vegas Sands Corp. , the leading
international developer of multi-use integrated resorts, today emphasized the positive
impact on the tourism sector that a potential strip of Integrated Resorts could
generate in Spain
According to research commissioned by LVS, the Sands development would attract up
to 11 million unique tourists, contributing to 40 million day visits and producing
incremental tourism spending of about €15.5 billion over the next 10-15 years.
The envisioned 12 Integrated Resorts will provide a diverse range of leisure and
business facilities and attractions for visitors, enhancing the country’s reputation as a
premier tourism destination. Each resort will be a unique response to the needs of the
market and will be designed to become an integral part of the host city.
Research indicates that, excluding gaming, the typical visitor to the Sands strip of
properties would spend up to 150 percent more per day than the current average
tourist in Barcelona or Madrid, the two Spanish cities being considered for the project..
The range of offerings, including hotels, retail, dining and entertainment, gaming,
Meetings, Incentives, Exhibition and Convention (MICE) facilities, and world-class
amenities like spas, fitness, swimming and golf, will require more lodging than the
Sands properties can accommodate. It’s estimated that up to 17% of all overnight stays
would need to be accommodated outside of the proposed development, generating
incremental occupancy and business for the tourism sector.
“In addition to substantial employment opportunities, our experience clearly
demonstrates that the Integrated Resorts have a multiplier effect, which for Spain will
mean expansion of a wide range of supporting businesses as well as greater interest
and spending in other Spanish regions and attractions,” said Mike Leven, president and
chief operating officer of Las Vegas Sands Corp.
2. One year after Marina Bay Sands opened up its 5-star luxury resort in Singapore in
2010, the country experienced record tourism figures, with double-digit growth in
visitor arrivals and revenues.
According to the Singapore Tourism Board (STB), the country had 13.2 million visitors
last year, 13 percent more than the 11.6 million who came in 2010. Tourists spent an
estimated S$22.2 billion, an increase of 17 percent from the S$18.9 billion the previous
year. This comes after 2010 visitor arrivals and tourism receipts grew 20 percent and
49 percent, respectively, over 2009 figures.
The STB indicates that Singapore is on track to achieve the STB’s goals of 17 million
visitors and S$30 billion in tourism receipts by 2015.
Statements in this press release, which are not historical facts, are "forward-looking"
statements that are made pursuant to the Safe Harbor Provisions of the Private
Securities Litigation Reform Act of 1995 (United States). Forward-looking statements
involve a number of risks, uncertainties or other factors beyond the Company's
control, which may cause material differences in actual results, performance or other
expectations. These factors include, but are not limited to general economic
conditions, competition, new ventures, government regulation, legalization of gaming,
interest rates, future terrorist acts, insurance, and other factors detailed in the reports
filed by Las Vegas Sands Corp. with the Securities and Exchange Commission. Las Vegas
Sands Corp. assumes no obligation to update such information.
ABOUT LAS VEGAS SANDS CORP.
Las Vegas Sands Corp. (NYSE: LVS) is a Fortune 500 company and the leading global
developer of destination properties (integrated resorts) that feature premium
accommodations, world-class gaming and entertainment, convention and exhibition
facilities, celebrity chef restaurants, and many other amenities.
THE VENETIAN® and THE PALAZZO®, Five-Diamond luxury resorts on the Las
Vegas Strip, and SANDS® Bethlehem in Eastern Pennsylvania are the company's
properties in the United States.
In Singapore, the iconic MARINA BAY SANDS® is the most recent addition to the
company's portfolio.
Through its majority-owned subsidiary Sands China Ltd., the company also owns a
collection of properties in Macau, including THE VENETIAN® Macao, Four Seasons
Hotel Macao, and Sands Cotai Central, a 13.7 million square foot 6,400-room complex
opening in early 2012 at the company's COTAI STRIP® development. The company also
owns the SANDS® Macao on the Macau peninsula.
3. Las Vegas Sands is also committed to global sustainability through its SANDS Eco 360
program and is an active community partner through its various charitable
organizations.
Media Contacts:
Patricia Madrigal
patricia.madrigal@edelman.com
+34 93 488 1290
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