Sheldon Adelson, Chairman and Chief Executive of Las Vegas Sands Corp has yet to name a successor, so what exactly happens to the business when Adelson steps aside remains to be seen. One possibility is that the company could be sold, perhaps to an overseas interest. Michael Leven, President and Chief Operating Officer of Sands said foreign ownership would be a possibility, or the company could relocate its headquarters abroad, but not until "Sheldon and myself retire." Leven added: "If Mr. Adelson decided to sell the business -- which I believe he would never do -- it would not be inconceivable that an Asian buyer would be the kind of buyer that would be waiting."

Las Vegas Sands Corp. announced that it plans to open the first phase of its $5.5 billion Marina Bay Sands development on April 27, 2010. Marina Bay Sands will immediately go to work by hosting its first event, the Inter-Pacific Bar Association's annual conference, just days after opening its doors. The second phase, which includes the Sands SkyPark(TM), the Event Plaza along Marina Bay additional dining options, and exciting nightlife offerings, will open on June 23 as part of the property's grand opening celebration.

Las Vegas Sands Corp. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2009. Net revenue for the fourth quarter of 2009 was $1.28 billion, an increase of 17.5% compared to $1.09 billion in the fourth quarter of 2008. Consolidated adjusted property EBITDAR in the fourth quarter of 2009 increased 25.5% to $306.2 million, compared to $244.0 million in the year-ago quarter. On a GAAP (Generally Accepted Accounting Principles) basis, operating income in the fourth quarter of 2009 was $43.9 million, compared to an operating loss of $34.4 million in the fourth quarter of 2008, an increase of $78.3 million. The increase in operating income was principally due to stronger gaming volumes and the continued realization of cost savings and efficiency initiatives across the companys properties, which contributed to stronger margins overall and a record operating performance in Macau. The record results in Macau were partially offset by lower operating results in Las Vegas. Adjusted net income increased $38.7 million to $20.9 million, or $0.03 per diluted share, compared to adjusted net loss of $17.8 million in the fourth quarter of 2008, or a loss of $0.04 per diluted share. On a GAAP basis, net loss attributable to common stockholders in the fourth quarter of 2009 was $113.9 million, compared to net loss of $136.5 million in the fourth quarter of 2008. Basic and diluted loss per share was $0.17 compared to a basic and diluted loss of $0.27 in the prior year quarter. The decrease in net loss attributable to common stockholders of $22.6 million reflects an increase in operating income and a decrease in interest expense, partially offset by a loss on the early retirement of debt, a smaller income tax benefit, and increases in preferred stock dividends and accretion of preferred stock. Loss before income taxes was $78.5 million against $151.8 million a year ago. Capital expenditures during the fourth quarter totaled $553.8 million, including construction and development activities of $419.8 million at Marina Bay Sands, $85.7 million in Macau, $35.1 million at Sands Bethlehem, and $13.2 million in Las Vegas. Adjusted EBITDA was $272.0 million against $214.2 million in the prior year quarter. Full year 2009 net revenue increased 3.9% to $4.56 billion, compared to $4.39 billion in 2008. Adjusted net income was $48.2 million in 2009, an increase of 7.6% compared to $44.8 million in 2008. On a GAAP basis, net loss attributable to common stockholders was $540.1 million in 2009, compared to a net loss of $188.8 million in 2008. The increase in GAAP net loss attributable to common stockholders of $351.3 million was principally driven by increases in non-cash impairment losses, losses on early retirement of debt, preferred stock dividends and accretion of preferred stock, partially offset by increased revenue and decreased interest expense. Loss before income taxes was $372.6 million against $228.0 million a year ago. Basic and diluted loss per share was $0.82 compared to a basic and diluted loss of $0.48 in the prior year. Operating loss was $28.7 million against operating income of $163.7 million a year ago. Adjusted earnings per diluted share were $0.07 against $0.11 a year ago. Adjusted EBITDA was $924.2 million against $926.0 million in the prior year. Adjusted property EBITDAR was $1.09 billion against $1.06 billion in the prior year. For the fourth quarter of 2009, the company reported an impairment loss of $18.3 million, primarily related to real estate used for marketing activities in Asia, against $37.6 million in the prior year quarter.