April 27, 2010 / 6:29 AM / 9 years ago

Sands CEO says Singapore casino to break even in 5 yrs

SINGAPORE, April 27 (Reuters) - Las Vegas Sands, the world’s most valuable casino firm, expects to recoup its $5.5 billion investment in its Singapore casino in five years, CEO Sheldon Adelson said on Tuesday. He also said the Singapore casino will provide credit to selected gamblers rather than rely on junket operators as is the practice in Macau.

“We don’t have junket reps in Las Vegas,” Adelson, who is also the firm’s founder and major shareholder, said at the opening of the Marina Bay Sands casino in Singapore.

“It’s not a system that is seen worldwide. It’s uniquely Asian and primarily in Macau.” For a preview on Marina Bay Sands, please click on [ID: nSGE63P0K2] (Reporting by Kevin Lim and Nopporn Wong-Anan; Editing by Saeed Azhar)

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