Las Vegas Sands Has Eye On Texas
When Las Vegas Sands announced it had put its entire estate of casinos up for sale in Nevada eyes were raised thinking that the company were scaling back, however the reality is something else.
The casino operator run by Sheldon Adelson have their sights set on expanding within new states and the first could well be Texas.
At present Texas only has casinos based on Indian tribal land and are nothing compared to the size and glamour that a Las Vegas Sands development could offer.
That is why executives from the casino firm are now working with legislators on showing them the benefits of legalising casinos outside of tribal land.
Las Vegas Sands Andy Abboud from the companies Government Relations confirmed that the casino giant is interested in developing casinos in the state.
However even if legislators approve the bill to expand gambling it would have to go to a state wide referendum, but the state has financial issues that may work in the casino operators favour.
Previously Texas has always been opposed to casino expansion by lawmakers but the state has a deficit of $4.6 billion in the budget and new avenues of tax income are much needed, so enter Las Vegas Sands.
Sheldon Adelson wants to focus on the benefits a casino resort would do for Texas as being a global tourist location and a casino resort would help with that.
Also it seems the casino operator is willing to stump up between $1 billion to as much as $3 billion to develop a casino resort should it be approved. That would massively increase jobs in the state also.
It appears the casino owner has decided Las Vegas has had its time and the new move to state focused operations is the way forward for the company with Texas the first attempt.
