![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Wednesday, February 25, 2009 3:30:40 PM
February 25, 2009 - 2:47 PM EST
LVS 2.20 -0.39
Las Vegas Sands Corp. to Appeal Legal Challenge to CotaiJet Ferry Operation
Company Plans to Continue Providing Ferry Service During Appeal Process
MACAO, Special Administrative Region of the People's Republic of China, Feb. 25 /PRNewswire-FirstCall/ -- Las Vegas Sands Corp. (NYSE: LVS) announced today, following a ruling by Macau's Court of Second Instance challenging the company's Cotai Strip CotaiJet (TM) ferry concession, that it plans to appeal the decision to Macau's Court of Final Appeal. The company intends to file an appeal within the next week, and expects to continue to operate its ferry service until a decision on the appeal is rendered or the matter is otherwise resolved.
Las Vegas Sands Corp. stated that both the company and the Government of Macau are parties to the recent lower court ruling, and as parties to the ruling, each has the ability to appeal the case. Upon appeal, the lower court ruling will be immediately suspended until a decision is rendered by the Macau Court of Final Appeal. The basis of the legal challenge to the granting of the ferry concession is that all concessions related to the provision of public services must be awarded through a public tender process.
Mr. Sheldon G. Adelson, chairman and CEO stated, 'We believe the Macau authorities are committed to finding a solution that, in the event the lower court ruling is not reversed, would ensure that CotaiJet ferry operations are not suspended and that the public interest is protected.'
Forward-Looking Statements
This press release contains forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. 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, substantial leverage and debt service, government regulation, legalization of gaming, interest rates, future terrorist acts, insurance, gaming junket operators, risks relating to our Macao gaming concession, infrastructure in Macao and other factors detailed in the reports filed by Las Vegas Sands Corp. with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date thereof. Las Vegas Sands Corp. assumes no obligation to update such information.
About Las Vegas Sands Corp.
Las Vegas Sands Corp. (NYSE: LVS) is the leading international developer of multi-use integrated resorts.
The Las Vegas, Nevada-based company owns and operates The Venetian Resort-Hotel-Casino, The Palazzo Resort-Hotel-Casino, and the Sands Expo and Convention Center in Las Vegas and The Venetian Macao Resort-Hotel and the Sands Macao in the People's Republic of China (PRC) Special Administrative Region of Macao. The company also owns the Four Seasons Hotel Macao and is constructing two additional integrated resorts: Sands Casino Resort Bethlehem(TM) in Eastern Pennsylvania and Marina Bay Sands(TM) in Singapore.
LVS is also creating the Cotai Strip(TM), a master-planned development of resort-casino properties in Macao. At completion, the Cotai Strip will feature approximately 21,000 rooms from world-renowned hotel brands such as St. Regis, Sheraton, Shangri-La, Traders, Hilton, Conrad, Fairmont, Raffles, Holiday Inn, and InterContinental. For more information, please visit www.lasvegassands.com.
Contacts:
Investment Community: Daniel Briggs (702) 414-1221
Media: Ron Reese (702) 414-3607
SOURCE Las Vegas Sands Corp.
Source: PR Newswire (February 25, 2009 - 2:47 PM EST)
News by QuoteMedia
www.quotemedia.com
"Your Vegas Is Showing"
I've been to Hollywood
I've been to Redwood
I crossed the ocean
for a heart of gold
I've been in my mind,
it's such a fine line
Later, The Team.
Recent LVS News
- Las Vegas Sands Contributes $270,000 to The LGBTQ+ Center of Southern Nevada for Capacity-Building Initiatives • PR Newswire (US) • 06/27/2024 05:00:00 PM
- Major Champion Collin Morikawa Joins with Las Vegas Sands to Engage with its Resorts and Empower Thriving Communities • PR Newswire (US) • 06/24/2024 05:01:00 PM
- Las Vegas Sands and the Thurgood Marshall College Fund Select 15 HBCU Students for Annual Immersive Las Vegas Experience June 16-22 • PR Newswire (US) • 06/11/2024 05:00:00 PM
- Las Vegas Sands Announces $100,000 Sands Cares Donation to Teach for America Nevada • PR Newswire (US) • 06/06/2024 05:04:00 PM
- Las Vegas Sands Continues Capacity-Building Investments for the Asian Community Development Council with a $225,000 Donation • PR Newswire (US) • 05/29/2024 05:00:00 PM
- Sands to Participate in the Bernstein Strategic Decisions Conference • PR Newswire (US) • 05/28/2024 12:00:00 PM
- Sands' Latest Contribution to Nevada Partnership for Homeless Youth Marks More Than $2.5 Million in Total Support to the Organization • PR Newswire (US) • 05/23/2024 05:10:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/16/2024 08:04:56 PM
- Sands Macao Celebrates 20th Anniversary • PR Newswire (US) • 05/16/2024 05:32:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/10/2024 09:01:51 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/10/2024 09:01:40 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/10/2024 09:01:23 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/10/2024 09:01:03 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/10/2024 09:00:51 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/10/2024 08:06:57 PM
- Form 424B2 - Prospectus [Rule 424(b)(2)] • Edgar (US Regulatory) • 05/09/2024 12:45:31 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/08/2024 12:49:55 PM
- Form FWP - Filing under Securities Act Rules 163/433 of free writing prospectuses • Edgar (US Regulatory) • 05/07/2024 09:12:12 PM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 05/07/2024 12:09:42 PM
- TSMC Revenue Rises 13% in Q1, Alcoa Exceeds EBITDA Expectations Despite Loss, and More Earnings News • IH Market News • 04/18/2024 11:14:18 AM
- US Index Futures See Gains, Oil Prices Dip • IH Market News • 04/17/2024 10:59:02 AM
- Sands to Release First Quarter 2024 Financial Results • PR Newswire (US) • 04/10/2024 08:05:00 PM
- Las Vegas Sands Announces $500,000 Donation to The WASH Foundation • PR Newswire (US) • 03/21/2024 05:00:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/27/2024 07:35:25 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/26/2024 09:35:13 PM
Glidelogic Corp. Becomes TikTok Shop Partner, Opening a New Chapter in E-commerce Services • GDLG • Jul 5, 2024 7:09 AM
Freedom Holdings Corporate Update; Announces Management Has Signed Letter of Intent • FHLD • Jul 3, 2024 9:00 AM
EWRC's 21 Moves Gaming Studios Moves to SONY Pictures Studios and Green Lights Development of a Third Upcoming Game • EWRC • Jul 2, 2024 8:00 AM
BNCM and DELEX Healthcare Group Announce Strategic Merger to Drive Expansion and Growth • BNCM • Jul 2, 2024 7:19 AM
NUBURU Announces Upcoming TV Interview Featuring CEO Brian Knaley on Fox Business, Bloomberg TV, and Newsmax TV as Sponsored Programming • BURU • Jul 1, 2024 1:57 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM