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Casino Receives $1 Billion Loan

Las Vegas Sands Inc. said it's opening a $1.01 billion credit line for the Venetian.

About $290 million will be used to repay existing loans while the rest will fund construction and pre-opening costs for the resort's Palazzo casino project, Las Vegas Sands said in a statement.

Last month, Goldman Sachs Group Inc. put its $975 million loan to the Venetian for sale to capitalize on demand for floating-rate assets, bankers familiar with the process said at the time. Las Vegas Sands didn't identify the providers of either the new or previous credit lines in its statement.

Copyright © Las Vegas Sun. Inc. Republished with permission.

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