{"id":297218,"date":"2023-11-03T16:19:45","date_gmt":"2023-11-03T21:19:45","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=297218"},"modified":"2023-11-06T11:43:57","modified_gmt":"2023-11-06T17:43:57","slug":"las-vegas-sands-files-for-mixed-shelf-offering","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/las-vegas-sands-files-for-mixed-shelf-offering\/","title":{"rendered":"Las Vegas Sands Files for Mixed Shelf, Could Sell Debt"},"content":{"rendered":"

Las Vegas Sands (NYSE: LVS), the largest casino operator by market capitalization, today filed a Form S-3 with the Securities and Exchange Commission (SEC), indicating the operator is potentially readying the sale of corporate securities.<\/p>\n

\"Marina
The Las Vegas Sands-owned Marina Bay Sands in Singapore. The operator filed for a mixed-shelf offering today. (Image: Pinterest)<\/figcaption><\/figure>\n

Companies use the Form S-3 to declare mixed-shelf offerings. Mixed shelf offerings can include sales of the following securities: Common stock, corporate debt, depositary shares, options, preferred shares and warrants.<\/p>\n

In the regulatory filing, the Venetian Macau operator doesn\u2019t explicitly declare what form of securities it will be issuing. But using a process of deduction, the company isn\u2019t a frequent issuer of preferred stock, and bringing the common stock to market would dilute current shareholders<\/a>, likely triggering downside for a stock that\u2019s up just 1.60% year-to-date.<\/p>\n

Although the operator didn\u2019t make such a declaration in Form S-3, it\u2019s possible it\u2019s readying to sell some form of corporate debt. But even that isn\u2019t guaranteed, because today\u2019s high-interest rate environment means bond issuers face elevated financing costs.<\/strong><\/p>\n

Las Vegas Sands concluded the third quarter with $5.57 billion in cash, good for one of the best stockpiles in the gaming industry<\/a>. The operator also has access to $4.17 billion in a revolving credit facility. Its debt stood at $14.17 billion as of Sept. 30.<\/p>\n

How Las Vegas Sands Could Deploy the Cash<\/h2>\n

The company has a variety of avenues through which it could deploy capital raised via the mixed shelf.<\/p>\n

We will use the net proceeds we receive from the sale of the securities offered by this prospectus for general corporate purposes, unless we specify otherwise in the applicable prospectus supplement,\u201d<\/strong> according to the SEC filing. \u201cGeneral corporate purposes may include future construction and development projects, additions to working capital, capital expenditures, repayment of debt, the financing of possible acquisitions and investments or stock repurchases.\u201d<\/strong><\/p><\/blockquote>\n

When it reported third-quarter earnings last month, Sands announced that it boosted its share repurchase program to $2 billion<\/a>, doubling it from $916 million. That plan runs through Nov. 3, 2025.<\/p>\n

\u201cWe may sell the debt securities, including original issue discount securities, at par or at a substantial discount below their stated principal amount. Unless we inform you otherwise in a prospectus supplement, we may issue additional debt securities of a particular series without the consent of the holders of the debt securities of such series or any other series outstanding at the time of issuance,\u201d added Sands in the filing.<\/p>\n

Acquisitions Possible, Though Not Likely<\/h2>\n

As Sands noted in the regulatory document, it could use proceeds from the mixed shelf for an acquisition, but that\u2019s not likely. The operator has eschewed iGaming and online sports betting. Additionally, there are no current rumors suggesting casino resorts in Macau are for sale.<\/p>\n

Likewise, regulators in Singapore are unlikely to allow Sands to control both integrated resorts in the city-state. Macau and Singapore are the only markets in which Sands operates today.<\/strong><\/p>\n

For now, it\u2019s just speculation, but the operator may use some of the proceeds from the mixed shelf offering to fund its New York City-area<\/a> casino bid.<\/p>\n","protected":false},"excerpt":{"rendered":"

Las Vegas Sands (NYSE: LVS), the largest casino operator by market capitalization, today filed a Form S-3 with the Securities and Exchange Commission (SEC), indicating the operator is potentially readying the sale of corporate securities. Companies use the Form S-3 to declare mixed-shelf offerings. Mixed shelf offerings can include sales of the following securities: Common […]<\/p>\n","protected":false},"author":46,"featured_media":250463,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,62,10],"tags":[81913,81897,81903],"acf":[],"yoast_head":"\nLas Vegas Sands Files for Mixed Shelf Offering<\/title>\n<meta name=\"description\" content=\"Las Vegas Sands unveils filing for mixed shelf offering.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/las-vegas-sands-files-for-mixed-shelf-offering\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Las Vegas Sands Files for Mixed Shelf Offering\" \/>\n<meta property=\"og:description\" content=\"Las Vegas Sands unveils filing for mixed shelf offering.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/las-vegas-sands-files-for-mixed-shelf-offering\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-03T21:19:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-06T17:43:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/12\/Marina-Bay-Sands.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1921\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/las-vegas-sands-files-for-mixed-shelf-offering\/\",\"url\":\"https:\/\/www.casino.org\/news\/las-vegas-sands-files-for-mixed-shelf-offering\/\",\"name\":\"Las Vegas Sands Files for Mixed Shelf Offering\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/las-vegas-sands-files-for-mixed-shelf-offering\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/las-vegas-sands-files-for-mixed-shelf-offering\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/12\/Marina-Bay-Sands.jpg\",\"datePublished\":\"2023-11-03T21:19:45+00:00\",\"dateModified\":\"2023-11-06T17:43:57+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Las Vegas Sands unveils filing for mixed shelf offering.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/las-vegas-sands-files-for-mixed-shelf-offering\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/las-vegas-sands-files-for-mixed-shelf-offering\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/las-vegas-sands-files-for-mixed-shelf-offering\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/12\/Marina-Bay-Sands.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/12\/Marina-Bay-Sands.jpg\",\"width\":1921,\"height\":1080,\"caption\":\"The Las Vegas Sands-owned Marina Bay Sands in Singapore. 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