Las Vegas Sands

One of the flashiest executive perks has roared back since the onset of the pandemic: free personal travel on the company jet.Companies in the S&P 500 spent $65 million for executives to use corporate jets for personal travel in 2022, up about 50% from prepandemic levels three years earlier, a Wall Street Journal analysis found. Early signs suggest the trend continued last year. Copyright ©2024Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 One of the flashiest executive perks…

HONG KONG—Six casino operators in Macau won provisional licenses to continue operating in the Chinese gambling hub for the next 10 years, the local government said, while rejecting a bid from an outsider to enter the market. The 10-year licenses begin in January under a new gambling law that also imposes more government oversight over casino operations in Macau. The companies’ plans have met the Macau government’s requirements, including ensuring local employment, attracting foreign tourists and expanding…

With just over two months before the new corporate minimum tax is set to go into effect, companies are asking the U.S. government for guidance on its scope and the potential impact of business transactions such as split-offs.From Jan. 1, 2023, the tax will apply to large U.S. companies averaging at least $1 billion in publicly reported annual profit over three years. The tax, which is part of the climate, healthcare and tax law called the Inflation Reduction Act, requires those businesses to calculate their taxes with the…

Shares of casino companies with operations in Macau rose on Monday after the city’s government said it would ease restrictions for visitors from mainland China, boosting hopes for an accelerated recovery for the city’s tourism-dependent economy.The casino sector’s gains came after news over the weekend that Macau expects to resume issuing electronic visas and allowing Chinese group tours to visit the gambling hub as soon as late October. Analysts said that timeline could facilitate a faster-than-expected return of Chinese…

HONG KONG—Casino operators in Macau have seen their fortunes slip as China’s “zero-Covid” policy cut the city off from many visitors in recent years. Now the companies face another wild card: A surprise challenger for the city’s new gambling licenses.On Friday, the Chinese gambling hub of Macau opened bids for 10-year casino licenses, which will come into effect after the current ones expire at the end of 2022. Now, seven companies are vying for six available spots, after an affiliate of Genting…

Casinos in the gambling hub of Macau will be allowed to reopen Saturday after a nearly two-week shutdown amid a Covid-19 outbreak, according to the government.The citywide lockdown that began July 11 was the first shutdown of casinos in Macau since the early days of the pandemic in 2020. The government said most nonessential industries, companies and venues would be allowed to reopen starting Saturday through July 30. Casino operators in Macau have been dealing with a longer-than-expected recovery there.…

Shares of casino companies with operations in the gambling enclave of Macau fell after city officials ordered all businesses aside from essential services to shut down for a week in an attempt to tamp down a Covid-19 outbreak. Las Vegas Sands Corp. LVS -6.31% , which owns several properties in Macau through its subsidiary Sands China, SCHYY -8.29% fell $2.17, or 6.3%, to $32.21 a…