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Sands Raises Estimate Price for IPO

NEW YORK – As reported by the CBS MarketWatch: "Las Vegas Sands on Monday upped the size of the purse in its $500 million initial public offering in the face of strong investor interest in the country's gambling mecca.

"Las Vegas Sands, which filed to go public in September, had listed its maximum proceeds at $350 million. But in its latest filing, the company said it plans to offer 23.8 million shares at an estimated price range of $20-$22 per share for a payout of up to $524 million with lead underwriter Goldman Sachs (GS).

"The company plans to trade on the New York Stock Exchange under the ticker "LVS."

"…Controlled by entrepreneur and Comdex founder Sheldon Adelson, 71, Las Vegas Sands is taking on rivals such as Harrah's and Wynn Resorts as Las Vegas hotels maintain one of the highest occupancy rates in any market in the U.S…"

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