HONG KONG — Casino group Las Vegas Sands has raised $2.5 billion to develop its hotels and gaming facilities in Macau.
The senior-secured credit facility was arranged by Goldman Sachs, Citigroup, Lehman Bros. and the Bank of Nova Scotia and took nine months to negotiate. Facility, said by lawyers to be the largest ever in Macau and the largest ever for gaming developments, allows Sands to simultaneously develop seven Macau projects.
These include gaming, retail, a convention center, condominiums and a Venetian Macau Resort hotel. All are based in the Cotai strip area of reclaimed land that Las Vegas Sands created.