Las Vegas Sands Corp. Announces Pricing of Senior Note Offering
089% resulting in a yield
to
maturity of 6. But in
the coin-operated amusement industry where "cash is king" is more fact than
cliche, credit cards have made little impact.ussr arcade
(NYSE: LVS) announced today that it has priced an
offering of $250 million in
aggregate principal amount of senior notes due 2015 in a private offering
under Rule 144A of the Securities Act of 1933.
CERTAIN STATEMENTS INCLUDED ABOVE WHICH
ARE NOT STATEMENTS OF HISTORICAL
FACT AND STATEMENTS IDENTIFIED WITH THE WORDS "PLANS," "EXPECTED
" OR "INTENDS"
OR WORDS OF SIMILAR MEANING ARE INTENDED TO BE, AND ARE, IDENTIFIED AS
"FORWARD
-LOOKING STATEMENTS," AS DEFINED IN THE SECURITIES AND EXCHANGE ACT OF
1934, AS AMENDED, AND INVOLVE
KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER
FACTORS THAT MAY CAUSE THE ACTUAL RESULTS, PERFORMANCE
OR ACHIEVEMENTS OF LAS
VEGAS SANDS CORP., The use of credit cards
for payment of goods and services
continues to grow at a record pace.
Incredible Technologies, the largest manufacturer of coin
-operated video
games in the United States, announced today that Golden Tee LIVE has now added
credit
card payments to an already impressive list of innovations.trades amoa
ABOUT LAS VEGAS SANDS CORP.
"It shows a savvy business strategy to offer their customers the
ease of use and convenience that
comes with credit card payments.vend trades
375%.
In conjunction with the offering, the company's operating
subsidiaries,
Las Vegas Sands, Inc.Credit Card Payments on Golden Tee Games Move Amusement Industry
Closer to 'Cashless Coin-Op' Scenario
Golden Tee LIVE offers players the largest variety
of payment options of
any coin-operated video game: Cash, PPA's (Personal Player Accounts), gift
cards and now credit cards. "Players have embraced non-cash payments," said
Kniaz.trades combined
For coin-op
trade shows, from vending to games.
billing trades
treasury yield. "Offering a potential new player the ability to
try out the
game by using their credit or bank card should encourage more first-time,
impulse
plays and, hopefully, result in a growing player base for our
industry.vend celebration
Las Vegas Sands Corp
."
celebration trade
and Venetian Casino Resort, LLC.newly once
The amended credit facility is
expected to include
additional term loan borrowings of $400 million, increase
the revolving credit facility by $275 million
and include revised covenants to
provide greater flexibility. This is incremental business that
can't be
ignored.exhibition conventions
5%. The company is also
developing additional casino hotel resort properties
in Macau, including the
Macao Venetian Casino Resort.
Until now.describe billing
intends to use the net proceeds
of the offering and
the $400 million of additional term loan borrowings under the amended credit
facility to retire the outstanding 11% mortgage notes due 2010 of Las Vegas
Sands, Inc.celebration novelties
and Venetian
Casino Resort, LLC, intend to enter into a
$1.570 billion amended and restated senior secured credit
facility, consisting
of a $1.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any security and shall not constitute an
offer, solicitation or
sale of any securities in any jurisdiction in which
such offering, solicitation or sale would be
unlawful. SUCH FACTORS INCLUDE, AMONG OTHERS, THE
ABILITY TO CONSUMMATE THE FINANCING TRANSACTIONS
DESCRIBED ABOVE, CHANGES IN
THE CONDITIONS IN DEBT MARKETS, CHANGES IN INTEREST RATES, LARGE SCALE
DISASTERS OR FORCE MAJEURE EVENTS AND CHANGES TO GENERAL ECONOMIC CONDITIONS,
AND OTHER FACTORS
MENTIONED IN DOCUMENTS FILED BY LAS VEGAS SANDS CORP.yearly conventions
The price to investors will be 99. ARLINGTON
HEIGHTS, Ill.billing ate
newly arcades
The senior notes will carry a
coupon of 6.065 billion funded term loan, a $105 million
delayed-draw term loan
and a $400 million revolving credit facility. The offering of senior notes
and the
amended and restated senior secured credit facility are expected to close in
February
2005.
vending trades
This represents a spread of 233 basis points over the
applicable U.
Contact:
Scott D.exhibition itself
S. WITH
THE SECURITIES AND EXCHANGE COMMISSION."
When credit cards are introduced
in traditional "cash only" industries,
where small ticket transactions are most common, merchants
typically see a 20%
increase in business.vend newly
The company owns The Venetian
Resort Hotel Casino and
the Sands Expo and Convention Center, where it hosts
exhibitions and conventions, in Las Vegas and
the Sands Macao in the People's
Republic of China Special Administrative Region of Macau. It's the
next logical step
for our game and our industry.arcade celebration
"
According to Steve White, editor of RePlay
Magazine, a leading industry
trade journal, the amusement game industry has run almost exclusively
on coins
paper currency.eelex vend
The company expects to realize significant reductions in
interest expense
as a result of these transactions.
"We want to remove barriers to play," said Larry Hodgson,
IT's vice
president of product development.pinball once
The proceeds from the offering
will be deposited
in an escrow account and released upon satisfaction of
certain financing conditions, including the
closing of the amended and
restated senior secured credit facility. Henry
Las Vegas Sands
Corp.trade exhibition
LAS VEGAS, Las Vegas Sands Corp.celebration arcade
The offering of senior notes will not be registered
under the Securities
Act of 1933, as amended, and the senior notes may not be offered or sold in
the United States absent registration or an applicable exemption from the
registration requirements
of the Securities Act. is a hotel, gaming, resort and exhibition/convention
company headquartered
in Las Vegas, Nevada. AND ITS CONSOLIDATED SUBSIDIARIES TO BE MATERIALLY DIFFERENT
FROM ANY FUTURE
RESULT, PERFORMANCE OR ACHIEVEMENT EXPRESSED OR IMPLIED BY
SUCH FORWARD-LOOKING STATEMENT.
3355 Las Vegas Boulevard South
Las Vegas, Nevada 89109
(702) 733-5502
Now
players are no longer limited to the cash in their pockets when they play
Golden Tee LIVE
."
Chase Paymentech Solutions was chosen by IT to administrate the Golden Tee
LIVE credit card
program because of their leadership in financial transaction
processing. "Chase Paymentech Solutions
is delighted to offer the latest in
payments technology to Incredible Technologies customers," said
Robert
Wechsler, Executive Vice President, Sales + Service, Chase Paymentech
Solutions. "Thousands
of games of Golden Tee LIVE are played everyday -- with no
cash going into the game.arcades celebration
"Credit cards
will allow Golden Tee players
to stay longer in locations and play more games.trades trade
Las Vegas Sands
Corp.expo yearly
A community sponsored library.
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