Situation Analysis-Las Vegas Sands Corp
Chen Chen, Aryan Taright, Xiyan Zhang, Gwansu Kim, Leungling Chen, Kaixiang Ke
MKT 304 - 13509
09 Mar. 2018
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Table of Contents
1.0 EXECUTIVE SUMMARY …………………………………………………..………………1
2.0 COMPANY …………………………………………………………………….…………….3
2.1 Company description ………………………………………………..………………..3
2.2 Mission and Vision ..…………………………………………………….……………3
2.3 History and Goals ……………………………………………………….……………4
3.0 SWOT …………………………………………………………………………..…………….4
3.1 SWOT Table ……………………………………………………………………..….4
3.2 SWOT Description …………………………………………………………………..5
4.0 COMPETITOR ANALYSIS ……………………………..…………………………..………7
4.1 SWOT Table for competitor 1 ……..……………………………………..…………..7
4.2 SWOT Table for competitor 2 …………………………………...………………….10
5.0 CUSTOMER ANALYSIS …………………………………………………………………..13
5.1 Geographic segmentation...…………………………………………….……………13
5.2 Demographic segmentation ………...……………………………………………….13
5.3 Psychographic segmentation………...……………………………………………….14
5.4 Behavioral segmentation …………………………………………………………….14
6.0 MARKETING AND PRODUCT OBJECTIVES ……………………...……………..……..14
6.1 Current Market and New Market…. ………………...………………………………15
6.2 New Products………… ……………………………………………….…………….16
6.3 Target Market………… ……………………………………………….…………….16
6.4 Positioning ………………………………………………………….……………….16
7.0 REFERENCES AND APPENDIXES…………………………………….…..……………..20
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Executive Summary
Las Vegas Sands Corporation is a firm which deals with class gaming, luxury hotels,
entertainment, leisure amenities, convention and meeting facilities. The company had
consistently grown since its formation in the year 1989 when Sheldon Adelson and his partners
bought the Sands hotel in Las Vegas. The corporation has a vision of becoming a global leader in
sustainable resorts, building development and environmental conservation. The firm aims at
ensuring that its customers and employees have been treated in the right way and it is also
focused on sustainable development. The corporation wants to achieve its vision through green
buildings, green meetings and events, environmentally responsible operations, and stakeholder
engagement. The firm acknowledges that there has been great dynamism in the global
environment and the private, societal and public sectors are supposed to work together to
conserve the environment. The Las Vegas Sands Corporation has therefore taken a step to
increase its share of renewable energy and also to enhance water use efficiency across all sectors.
The Las Vegas Sands firm has its internal strengths and weaknesses, and there are also external
opportunities and threats. One of the strengths of the company is that it has an integrated resort
business model. The corporation has ensured that it has a diversified service and product system
where it operates a casino and also offers on conventions and events. The company has also
expanded its operations to Asia. The company is known to have the largest casino market in the
world. The expansion ensures that the company generates more revenue which leads to growth
and development of the organization. This expansion ensures that the financial base of the
organization has been strengthened. One of the weaknesses of the company is that there have
been too many government restrictions which lead to cutting down on casino revenues. Also, as
a result of the many restrictions and regulations, the VIP players reduced their spending rates
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which affect the earnings of the company. There are also opportunities which include growth in
Asia. The main threat which the company is facing is the increased competition as internet
gambling is on the rise.
The customers of the corporation can have analyzed and segmented regarding geographic
segmentation, behavioural segmentation, psychographic segmentation and demographic
segmentation. Regarding geographic segmentation, there are those hotels which are located in
Las Vegas, Singapore, and also Pennsylvania. Regarding demographic segmentation, all the ages
visit the casino, but those between the age of 50-64 are the biggest group which visits the
casinos. Psychographic segmentation indicates that most people visit the casinos and hotels for
luxury purposes and fun.
The Las Vegas Sands Corporation wants to increase its current market by 11% in the year 2018.
The company also aims at customer retention through offering the quality products and services,
and it is aiming at attracting new customers through making their services better and through
advertisements. The new markets in Asia have been successful hence the company aims at
opening newer markets to expand its business. The company also aims at opening a new resort
with the same model in Japan. The company also wants to position itself as a firm which
provides world-class hospitality, gaming, dining, entertainment, and convention centres.
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Las Vegas Sands Corporation
Las Vegas Sands Corp is a pre-eminent operator and developer of world-class resorts
founded in 1989. It features dining and entertainment, best-in-class gaming, luxury hotels, retail,
leisure amenities, and Convention and Meeting facilities. The corporation is a leader in MICE-
integrated Resort which is an extremely successful and unique model serving both leisure and
business tourism market. Sands Corp claims ownership of integrated resorts in Asia and the U.S.
operates in.
The Mission/ Vision Statement
Las Vegas Sands believes that its response to the planet is vital to its commitment to the
well-being and comfort of its team members and guests. The global sustainability strategy for
Sands is aimed at reducing the company’s environmental impact, and it is a reflection of its
vision to be a global leader in sustainable resorts operations and building development (Fifield).
Strategy
The company has developed its plan through four pillars namely: green buildings,
stakeholder engagement, green meetings and environmentally responsible operations, and. The
four components ensure that the company has the most excellent environmental opportunity and
impact.
History
Las Vegas Sands was founded in 1989 after Adelson and partners bought the famed
Sands hotel in Las Vegas. Sales from his previous ventures in show business and computer trade
helped significantly in the opening of the firm. In 1990, the company had a breakthrough after
the Sands Expo and Convention Center was launched. In 2004, the company was incorporated,
and it extended its presence in Asia. In 2009, Sands Casino Resort Bethlehem was opened, and
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in 2010, Adelson flagged off the $5.6billion Marina Bay Sands Resort in Singapore. In 2012, the
management had discussions with the European government in Barcelona and Madrid. In
September the same year, the company announced Madrid as the chosen destination for Euro
Vegas, a gambling resort project. However, by the end of 2013, the initiative was canceled.
Further, in 2015, the company a 2020 project of a 65,000-seat facility for Oakland Raiders team
(Trefis). The conglomerate opened the Parisian Macao in 2016, marking Adelson’s dream to
replicate the delight and accomplishments in his Las Vegas Strip. Since then, the firm has
recorded significant growth in its various resorts in Asia and the United States.
Goals
The emergence of new challenges and growth in its portfolio, Las Vegas Sands has
changed significantly over the past years (Trefis). The public sector, government, and business
are joining hands for global development. In 2011, the company started a five-year
environmental reporting cycle. The company also set new performance targets of 2020. Of the 17
global sustainable development goals (SDGs), the company has embraced SDG 6 on water, SDG
12 on responsible consumption, and SDG 7 on energy. Under each goal, Las Vegas Sands came
up with targets that were incorporated in its strategy through internal and long-term external
objectives.
SWOT Table (Strengths, Weakness, Opportunities, and Threats)
Internal Factors Strengths Weaknesses
Management Integrated Resort business model
Government restrictions
Marketing Expansion in Asia Struggle in Macau
External Factors Opportunities Threats
Consumer/Social Growth in Asia Increase in Internet Gambling
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LVS’s strength
Integrated Resort business model: Las Vegas Sands is a resort company not only operating a
casino but also emphasizing the value of appealing to the convention and exhibition business.
The CEO of Las Vegas Sands Adelson saying, “encouraging retail mall development and other
ancillary revenue opportunities makes sure that Sands gets as much of its customers' money as
possible.” (Caplinger) LVS is the first casino that initituted MICE (Meetings, Incentives,
Conventions, and Exhibitions) model. By using this model, LVS can use empty conference
rooms to maintain certain revenue during the time that hotels and casino experiencing low
demand.
Expansion in Asia:Although Las Vegas is third largest casino market in the world, Las
Vegas Strip only generates about 13% revenues for Las Vegas Sands. Because of the gambling
industry growth in Asia, it created a lot of opportunities for LVS to increase their income and
expand their profit margins. The company has expanded their businesses in Asia, such as Macau
and Singapore. Las Vegas Sands is also competing with other casinos to get the contract to build
new casino in Japan recently.
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As we can see from the table above, LVS’s operation in Macau and Singapore is much higher
than the operations in US. This result showed us that VIP players from Macau and Singapore
played an important role of creating higher profit margins for Las Vegas Sands. (Team)
LVS’s Weakness
Government Restriction:During the year in 2014, gambling revenue started to evaporate on
the Chinese territory. The Chinese government had started cracking down on corruption. A lot of
VIP players started getting scared of showing off their money. At the same time, Chinese
government has restrictions for people who go to Macau. And the government is also monitoring
UnionPay, Chinese debit card. All of these restrictions have made some troubles for casinos to
earn revenues. There were moments in 2015 when gambling revenue was cut in half. (Lopez)
Struggle in Macau: "There's a slowdown in China that is affecting the way people are
spending," CEO Sheldon Adelson acknowledged on the company's earnings call. Because of the
government restriction and regulations, a lot of the VIP players were not putting money in the
games. And the sub-concession agreement between LVS and Macau will expire on June 26,
2022. LVS will face some difficulties in the future in Macau.
Opportunities
Growth in Asia: “About 85% of LVS’s business is leveraged towards Asian gaming. Asian
gaming is the biggest growth opportunity. In October 2013, LVS received an additional five-year
exemption from Macao’s corporate income tax. The exemption was for profits generated by
operating casino games.” (Yahoo Finance) Macau has the largest and most successful gambling
http://www.businessinsider.com/macau-vip-volume-continues-decline-2015-11
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market in Asian. Macau is often regarded as the “Las Vegas of the East.” The casino industry is
expanding in size. Macao draws a significant number of customers. The customers are visitors or
residents of Hong Kong. (Market Realist)
Threats
Increase in Internet Gambling: There has been an increase in Internet gambling. The
government took steps to legalize it. This could be a threat to Las Vegas Sands. Gamblers in
casinos may decrease because they can gamble from their home or smartphone. (Yahoo Finance)
COMPETITOR ANALYSIS
Wynn Resorts Ltd
Wynn Resorts Ltd or Wynn Las Vegas is a public company in Nevada. It founded by
Stephen Alan Wynn, former chairman and CEO of Mirage Resorts, in October 25, 2002.
Headquartered in Paradise, Nevada, USA. It employs 20,800. Its business scope is mainly in the
United States and China. Its industry is hospitality and tourism, and mainly engaged in the
development and operation of high-end hotels and casinos. It develops a series of products and
services, such as resorts, casinos, gaming, entertainment, and related products. Wynn Las Vegas
is the company’s first project. It finishes in April 28, 2005. Wynn Macau is the second project. It
start on June 28, 2004, and finish on November 25, 2006.
Wynn Resorts Ltd SWOT Analysis
Strengths Weaknesses
Internal Factors High-end market and the elite customers Restricted by national policy
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Strategic locations Fierce competition in limited
market
Brand recognition is high Scandal
Good Cash Flow Declining operational performance
Opportunities Threats
External Factors Open the mass market Regulatory Interference
Online platform Rising raw material
Environmental policy China slowdown
Good tourism prospects Consumer buying behavior
changing
Wynn Resorts Ltd Strengths
Wynn Resorts Ltd has invested a lot of money in its casinos and resorts. Their casino and
accommodation is very luxurious. Each of their facilities and environments has a professional
design to make people feel amazed. And there are many unmatched art collections. Mainly to
meet the high-roller customers, rather than meet the mass customers. Those customers have more
purchasing power and are more resistant to external factors, such as, political factors, distance,
and so on. These are major customers. Their location is also very good. It was located in major
entertainment and travel destinations. Those places attract a lot of rich people and tourists. Also,
the brand of recognition is high. Wynn Resorts Ltd has a long history of entertainment, resorts,
and casino industry development. They have a lot of experience to manage these industries. It
makes people know and recognize them a lot.
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Wynn Resorts Ltd has a very good cash flow. They need cash in a lot of places to operate
the industries, such as casino, resorts, and entertainment, etc. This allows them to have a lot of
cash to solve the problems when they encounter difficulties.
Wynn Resorts Ltd Weaknesses
Wynn Resorts Ltd face many constraints. For example, travel restrictions, taxation
problems, and national policy, etc. Wynn Resorts Ltd is not a normal company. Their business
may cause a lot of bad influence. It also requires a lot of resources and a large land. These need
the government to apply for them. Therefore, the national policy can cause a lot of effect to them.
Moreover, the market for this industry is not large, but more competitors enter the market in
recent years. This reduces their profits every years.
The scandal also is a big problem in Wynn Resorts Ltd, their CEO Steve Wynn is
involved in sexual scandal, and he and his ex-wife have been engaged in a highly public legal
lawsuit. It damages the reputation of Wynn Resorts Ltd.
Wynn Resorts Ltd Opportunities
Wynn Resorts Ltd can open the mass market, because it can attract more new customers.
The competition for high-end customers is very fierce, so open the mass market is the method to
increase profits. Another method is to open and develop the online platform. The internet is now
the biggest market in the world. It has less limitation in this market, so it can increase the profit.
An environmental policy can help the Wynn Resorts Ltd too, because more of the
industries in Wynn is tourism, it can make the place more beautiful and cause the environment
better, so they can ask the government to help them to develop their industries.
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Wynn Resorts Ltd threats
Wynn Resorts Ltd faces a lot of regulatory interference, whether in the United States or
China. And China’s economy is slowing down, it reduce the Chinese tourists to spend money in
their industries.
The raw material is the big problem, because the price index rises every year. It causes
their cost are on the rise. They need to spend more time and money to complete the project, and
part of the cost will make their price of products increase.
Consumer buying behavior changing is a big problem too. The people now need more
convenient and quick way to finish or enjoy things, so many old methods will need to be
replaced. These will increase a lot of costs.
MGM Resorts International
MGM resorts International is a casino, resorts, and hotel operating company located in
Paradise District, Las Vegas, Clarke County, Nevada. MGM Resorts International is the second
largest gaming company in the world. They own fifteen properties in Nevada, Mississippi and
Michigan plus 50% ownership of four properties in Nevada, Illinois, and Macau, China. MGM
Resorts International was called MGM Mirage before. It changed the name in June 2010.
MGM Resorts International SWOT Analysis
Strengths Weaknesses
Internal Factors High level of customer satisfaction Weak financial planning
Successful records of mergers and
acquisition
The challenges from new
competitors
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Brand recognition is high A gap in their product
Good Cash Flow Need more investment
Opportunities Threats
External Factors Online platform Government policy
New acquisitions Growing strengths of local
distributors
Decreasing cost of transportation Changing consumer buying
behavior
Government green policy Rising raw material
MGM Resorts International Strengths
MGM Resorts International has a long history and experience on operate casinos and
hotels, so people can recognize this brand. People will willing to go to their industries because
they trust this brand. MGM Resorts International attaches great importance to customer needs
and opinions. They set up a special relationship management department to collect and listen to
the opinions of the customers, and present and achieve a better customer satisfaction and good
brand equity to all the ₩s.
MGM Resorts International has many successful records of mergers and acquisition.
They acquired a lot of technology companies in recent years. It can help the company create a
stable and reliable supply chain. This can simplify the process and reduce the time and cost.
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MGM Resorts International Weaknesses
MGM Resorts International acquired frequently, and it causes many operations and
financial problems. MGM Resorts International has a lot of money that is not properly used.
They cannot use the cash effectively and cause a lot of financial planning problems. They waste
a lot of money in many projects. However, because of the acquisition, they also need more
investment. The cost may increase in these situations if they do not solve the problems.
There are many new competitors enter the market, so they may face many challenges
from them. The market is limited, so they should open several new markets to increase their
profits.
Many customers say that there is a gap in their product. Their product lacks choice and
innovation. It may cause many new competitors easily to enter the market.
MGM Resorts International Opportunities
The internet is the world biggest market now, so they should open and invest more new
online platform to attract more customer and open different markets. This investment can create
a bigger profit for the company.
In recent years, the cost of transportation is decreasing, because of lower shipping prices.
It brings down the cost of products. It can help the company to gain more market share.
Moreover, the government green policy can also create an opportunity for the company. Their
industries are good for the environment, so they can ask the government to reduce help them to
develop and operate the industries.
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MGM Resorts International Threats
MGM Resorts International may face a lot of threats. MGM Resorts International invests
a lot of money in different places, but the local distributors in those places also grow very fast in
recent year.
The raw material is increasing, and it causes the cost of the products increasing too. The
increasing costs will lead the product price increases. Many customers may leave because of the
price increases.
Customer Analysis
Geographic segmentation
Las Vegas Sands operates five hotels in Macau, two hotels in Las Vegas, one hotel in
Singapore and one hotel in Pennsylvania. Macau and Las Vegas are representative cities of
casino and entertainment. Geographically, casino hotels have good accessibility to customers
who visit Macau and Las Vegas to enjoy entertainments and casino. Where The Venetian Las
Vegas and The Palazzo are located is in the center of hotels and casinos congested area in Las
Vegas. Macao draws a significant number of customers and the customers are visitors or
residents of Hong Kong. The need of customer is good accessibility with entertainments and
casino. The wants are hotels are located in the center of hotels and casinos congested area.
Demographic segmentation
It seems like all ages visit casinos evenly. But 50-64 are the biggest group of casino
visitors. And the middle-income groups are the main group of casino visitors(see Appendix A for
demographic information). It shows that stable income and ages make visit casinos more.
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Psychographic segmentation
Customers who go to Las Vegas or Macau and stay casino hotels want to stay at luxury
hotels and do gamble. Las Vegas casino hotels’ room price is not that expensive, but customers
can get high-quality rooms. Since these hotels have casinos, customers can enjoy gambling at
where they stay. This is the chart that shows the price per one night of luxury hotels in Las Vegas
(see Appendix B for Price Chart of Three Main Hotels in Las Vegas Strip). Even though it seems
expensive, customers who want to stay at luxury hotels and play gamble choose these casino
hotels.
Behavioral segmentation
The trend of Las Vegas Strip is revenue from gaming has been decreasing and revenue
from non-gaming has been increasing(see Appendix C for Las Vegas Strip Gaming vs. Non-
gaming Revenue Mix). Customers’ behavior has been changed. Las Vegas hotels used to be
known for the gambling. But recently, spending behavior goes to non-gaming elements.
According to the Business Insider article by Sam Ro, it says “Today, non-gaming revenue
comprises around 64% of Las Vegas' total revenue mix as a result of the market evolving over
the past ten years into a more complete tourist destination with hotel, entertainment, retail, and
F&B/fine dining becoming increasingly important revenue drivers.”
Marketing & Product Objectives
Las Vegas Sands market intent is to be “the pre-eminent developer and operator of world-
class Integrated Resorts that feature luxury hotels; best-in-class gaming; retail; dining and
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entertainment; Meetings, Incentive, Convention and Exhibition (MICE) facilities; and many
other business and leisure amenities,” according to sands.com. Las Vegas Sands currently has
properties in Las Vegas, NV, Bethlehem, PA, China, and Singapore. These locations currently
offer world class hospitality to both leisure and business tourism markets. Current properties as
well as planned new markets will serve as a platform to grow sales revenue. This will be detailed
in four areas below:
Current Markets
Las Vegas Sands expects to increase revenue about 11% in current markets in 2018. Our
plan is to do so by continuing to implement the “MICE” model. The model integrates a focus of
meetings, incentive, convention, and exhibition with luxury gaming, dining, entertainment, and
hospitality. This formula has allowed for Las Vegas Sands to be an industry leader, and we
expect it to continue to do so. This model has been successful in all markets starting from Las
Vegas all the way to China. We expect to retain customers by continuing to offer the same
product as well continuously gain more as our reputation expands.
New Markets
Las Vegas Sands is a growing company, our next step in expansion is to build a luxury
resort in Japan. Las Vegas Sands originated in the United States, but has recently expanded into
Asia. Multiple resorts have been opened in Macau, China as well as one in Marina Bay,
Singapore. The newer Asian markets have all proven to be successful, actually accounting for
more revenue than the American market. Las Vegas Sands plans to expand into Japan using the
same model that has granted us success in China and Singapore.
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New Product
Las Vegas Sands plans to open a new resort with the same model in Japan. We plan to
invest $10 billion dollars on the resort, making it the biggest investment the company has ever
made on a stand-alone resort. According to Bruno (2017), as of now, the company is planning on
emphasizing its focus on non-casino attractions such as exhibition halls. Japan is currently
revising its laws to allow casinos to operate in the country. Las Vegas Sands will closely monitor
the situation. If the Japanese law allows for casino operation, the planned Las Vegas Sands
Japanese resort will have a casino.
Target Market
The target market for Las Vegas Sands new resort in Japan will be the business and
leisure tourism market. The target market is not emphasized on one demographic, Instead we are
focused on developing and operating resorts that will accommodate to many different adults.
Target consumers are business men and women, vacationers, single, couples, and even families.
Positioning
Currently, Las Vegas stands as an industry leader in providing world class hospitality,
gaming, dining, entertainment, and convention centers. The Sands Expo is Las Vegas is the third
largest convention center in the city and the connected Venetian and Palazzo resorts operate as a
hotel giant on the Las Vegas Strip. Las Vegas Sands was the first American company to invest in
development of resorts in Macau, China, but is currently facing some major competition.
American companies such as MGM, Wynn, and Melco have entered the Macau market. Of its 5
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resorts in China, only one saw growth in revenue last year (Sun, 2017). The Singapore location
remains strong, and gambling revenues from the Chinese market have increased 15% since last
year (Sun, 2017). With our planned expansion into the Japanese market and diligence in current
markets Las Vegas Sands plans to remain a premier developer and operating of world class
resorts.
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References
Trefis, T. “Why Las Vegas Sands Is Focused On International Expansion.” Forbes,
Forbes Magazine, 26 May 2017,
www.forbes.com/sites/greatspeculations/2017/05/26/why-las-vegas-sands-is-
focused-on-international-expansion/.
Fifield, Anna. “American gambling companies are lining up to open casinos in Japan.”
The Washington Post, WP Company, 16 Oct. 2017,
www.washingtonpost.com/world/asia_pacific/american-gambling-companies-are-
lining-up-to-open-casinos-in-japan/2017/10/14/5d4aebee-a904-11e7-8ed2-
c7114e6ac460_story.html.
“Higher Rates Will Drive Wynn Resorts' Domestic Hotel Operations In The Coming
Years.” Trefis, Trefis Team, 20 May 2015,
www.trefis.com/stock/wynn/articles/297253/higher-rates-will-drive-wynn-resorts-
domestic-hotel-operations-in-the-coming-years/2015-05-20.
Market Realist, marketrealist.com/2014/09/casinos-able-attract-visitors-different-age-
groups.
Ro, Sam. “Las Vegas Hasnt Been About Gambling Since 1999.” Business Insider,
Business Insider, 8 Mar. 2013, www.businessinsider.com/las-vegas-gaming-vs-
non-gaming-revenue-2013-3.
All products require an annual contract. Prices do not include sales tax (New York
http://www.trefis.com/stock/wynn/articles/297253/higher-rates-will-drive-wynn-resorts-domestic-hotel-operations-in-the-coming-years/2015-05-20
http://www.trefis.com/stock/wynn/articles/297253/higher-rates-will-drive-wynn-resorts-domestic-hotel-operations-in-the-coming-years/2015-05-20
http://www.businessinsider.com/las-vegas-gaming-vs-non-gaming-revenue-2013-3
http://www.businessinsider.com/las-vegas-gaming-vs-non-gaming-revenue-2013-3
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residents only). “Age group distribution of U.S. casino visitors in 2010 | Survey.”
Statista, www.statista.com/statistics/188424/percentage-distribution-of-casino-
visitors-in-the-us-by-age-2010/.
Caplinger, Dan. “5 Things Las Vegas Sands Management Wants You to Know.” The
Motley Fool, The Motley Fool, 2 Sept. 2015,
www.fool.com/investing/general/2015/09/02/5-things-las-vegas-sands-management-
wants-you-to-k.aspx.
Team, Trefis. “Why Las Vegas Sands Is Focused On International Expansion.” Forbes,
Forbes Magazine, 26 May 2017,
www.forbes.com/sites/greatspeculations/2017/05/26/why-las-vegas-sands-is-focused-
on-international-expansion/#7dd36cf0354b.
Lopez, Linette. “Las Vegas Sands Is Getting Slaughtered.” Business Insider, Business
Insider, 21 Apr. 2016, www.businessinsider.com/las-vegas-sands-is-getting-
slaughtered-2016-4.
“Must-Know: A SWOT Analysis of Las Vegas Sands.” Yahoo! Finance, Yahoo!, 18 Sept.
2014, finance.yahoo.com/news/must-know-swot-analysis-las-182950239.html.
Market Realist, marketrealist.com/2014/09/why-casino-industry-rapidly-expanding-into-
new-markets
http://www.fool.com/investing/general/2015/09/02/5-things-las-vegas-sands-management-wants-you-to-k.aspx
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http://www.forbes.com/sites/greatspeculations/2017/05/26/why-las-vegas-sands-is-focused-on-international-expansion/#7dd36cf0354b
http://www.businessinsider.com/las-vegas-sands-is-getting-slaughtered-2016-4
http://www.businessinsider.com/las-vegas-sands-is-getting-slaughtered-2016-4
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Bruno, G. (Oct. 4 2017). Las Vegas Sands Eyeing $10 Billion Resort in Japan. Thestreet,
Retrieved from https://www.thestreet.com/story/14330585/1/las-vegas-sands-eyeing-
10-billion-resort-in-japan.html
Sun, L. (Nov 6, 2017). Will 2018 Be Las Vegas Sands Corp.’s Best Year Yet? The Motley
Fool, Retrieved from https://www.fool.com/investing/2017/11/06/will-2018-be-las-
vegas-sands-corps-best-year-yet.aspx
https://www.thestreet.com/story/14330585/1/las-vegas-sands-eyeing-10-billion-resort-in-japan.html
https://www.thestreet.com/story/14330585/1/las-vegas-sands-eyeing-10-billion-resort-in-japan.html
https://www.fool.com/investing/2017/11/06/will-2018-be-las-vegas-sands-corps-best-year-yet.aspx
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https://www.fool.com/investing/2017/11/06/will-2018-be-las-vegas-sands-corps-best-year-yet.aspx
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Appendix A
Demographic Information by Age and Houshold Income
Appendix B
Three Main Hotels in Las Vegas Strip
Appendix C
Las Vegas Strip Gaming vs. Non-gaming Revenue Mix