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Las Vegas Sands dismisses competitor

7 May 2007

AUSTRALIA – As reported by the Australian: "AS James Packer prepares to showcase his first international casino venture - the $760 million Crown Macau casino - on Wednesday, his biggest rival, Las Vegas Sands, has dismissed the threat of competition.

"'I've got to tell you, we really don't take Crown and its location and its product very seriously,' said Las Vegas Sands executive vice-president Brad Stone of the six-star casino.

"…Crown is jointly owned by Mr Packer and Melco's Lawrence Ho - through Melco PBL.

"…Mr Stone's comments came as Sheldon Adelson's Las Vegas casino operator - which owns the Sands Macau and soon-to-be-opened $3 billion Venetian Macau - reported a 25 per cent fall in first-quarter profit…"

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