Las Vegas Sands Inc, owner and operator of Venetian Casino Resort, announced on July 26 at its latest earnings conference that it intends to finance construction adding 1,000 rooms and 800 parking spaces at Venetian Casino Resort.

In addition, the indirectly and fully owned subsidiary of the company, which owns about 15 acres of land adjacent to Venice, will build 150,000 square feet of conference center space on land owned by the second tier subsidiary, which the second tier subsidiary will lease to Venice. The new 1,000-room hotel tower will be built by Venice and owned and operated by the newly established Venetian subsidiary.

Regarding the two projects, HVAC Provider, the current owner and operator of Venice’s heating, ventilation and air conditioning plants, tentatively agreed to expand $60 million to build, own and operate HVAC and related equipment facilities to provide heating, cooling and related services to energy service contracts, new hotel towers and conference center spaces.

Based on the current information, we estimate the cost of hotel additions and parking addition for 1,000 rooms, excluding HVAC provider projects, financing, and pre-opening costs, at a total of approximately $155 million.

We also estimate the cost of the meeting room space project at a total of approximately $30 million, excluding the HVAC Provider project.

The Phase II subsidiary’s $80 million credit facility is secured by both Phase II land, landlord interest from the Phase II subsidiary under the Conference Center lease, and unsecured loans to Phase 1-A subsidiaries. 프라그마틱 슬롯 사이트

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