During Las Vegas Sands’ first-quarter earnings call, CEO Rob Goldstein sheds light on the strategic outlook amid evolving market dynamics, citing both disruptions in New York’s licensing process and the company’s interest in Thailand’s gaming potential.

Las Vegas Sands Faces Extended Schedule in New York
Goldstein expressed frustration over the delay in licensing New York casinos, citing ongoing uncertainty surrounding the timeline for approval. Las Vegas Sands expected progress in 2024, but now faces an extended timeline, with decisions postponed to 2025 or 2026.

Las Vegas Sands President and COO Patrick Dumont also expressed his anger: “Right now they’re saying it’s 2025 or 2026, but I don’t think we have any real clarity. And to be honest, I’m confused and disappointed because we’ve done a lot of work in New York and invested a lot of time. So I don’t really know what to say with honesty and insight, so there’s no guidance.” 안전한 파워볼사이트

Regulatory hurdles in New York City, in particular, have hampered progress, waiting for approval to rezoning to spur casino development within the city’s five boroughs.

In addition, legal disputes, including Hofstra University’s objections to plans for a resort near the Nassau Coliseum, have further complicated matters. Goldstein highlighted the need for clarity and resolution in New York’s regulatory environment, reflecting the company’s longstanding commitment to the city’s marketplace.

Las Vegas Sands eyes Thailand amid New York setbacks
Despite the challenges in New York, attention turned to Southeast Asia, with Chad Bjorn, a Wall Street analyst at Macquarie US Equity Research, researching Thailand’s prospects. Goldstein was optimistic, acknowledging the country’s potential to boost development.

He highlighted the appeal of the market by citing its large population, accessibility, and status as one of Asia’s top resorts. Goldstein highlighted the ongoing efforts to evaluate opportunities and determine feasibility in the region, confirming the company’s interest in Thailand.

The discussion about Thailand is consistent with widespread industrial sentiment, which reflects the Southeast Asian country’s growing interest in the gaming environment. Thailand’s recent strides on the passage of a legal casino gaming bill suggest that Thailand could start its first casino before Japan, potentially opening the door to rapid tourism and economic growth.

With overwhelming support from the House and favorable tax rates, experts expect Thailand to become a major destination for international casino companies, outpacing Japan in the race to establish an integrated resort.