Sands May Face Bankruptcy
Company Says It Needs To Raise More Capital
POSTED: 3:29 pm PST November 6,
2008
UPDATED: 10:46 pm PST November 6,
2008
LAS VEGAS -- The Las Vegas Sands Corp. said it's in jeopardy of missing certain financial covenant requirements.It needs to raise more capital, or it faces bankruptcy.In a regulatory filing Thursday, the casino owner said it probably won't meet the loan requirements arranged by Lehman Brothers, Citigroup and Goldman Sachs Group.The company was $8.8 billion in debt in June.The dwindling cash flow threatens $16 billion worth of development in Macau, China and Singapore.
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