MACAU — (MARKET WIRE) — 12/20/10 — Sands China Ltd. (SCL), a majority-owned subsidiary of Las Vegas Sands Corp. (NYSE: LVS), announced today it has received a letter from the Macau Land, Public Works and Transport Bureau which its Macau counsel advises should clear the way for the company to start preparing for the sale of shares in co-op fashion to prospective buyers interested in having a Four Seasons-branded apartment at the Cotai Strip in Macau. The letter states that “…the process is at its final proceeding…” and that after its approval the government will provide the company a draft contract finalizing the approval process. The draft contract is also expected to be issued very shortly.
“We truly appreciate the government’s diligence in addressing this matter and we are optimistic that a resolution could be forthcoming very quickly,” said Mr. Sheldon G. Adelson, chairman of both Sands China Ltd. and Las Vegas Sands Corp. “The company has been inquiring of prospective buyers over many months and has accelerated the inquiries to ascertain the viability of a concentrated sales effort starting after the first of the year.”
“The reaction from prospective buyers is very positive and company management is optimistic that our anticipated pricing will be well-received,” he concluded.
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