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Annual Report 2007 Las Vegas Sands Corp

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Annual Report 2007 Las Vegas Sands Corp ANNUAL REPORT 2007 LAS VEGAS SANDS CORP. ~ ANNUAL REPORT ~ ANNUAL LAS VEGAS CORP. SANDS Marina Bay Sands Singapore ~ Opening in Late 2009 The Palazzo Las Vegas ~ Opened December 2007 3355 Las Vegas Boulevard South ~ Las Vegas, Nevada 89109 Telephone: 702.414.1000 ~ www.lasvegassands.com 2007 2007 The Plaza Casino / St. Regis, Shangri-La The Palazzo Cotai Strip CotaiJet Hilton, Conrad, Fairmont, The Venetian Sands Bethworks The Sands Macao Venetian Macao Marina Bay Sands Four Seasons Hotel Sheraton, Traders Las Vegas ~ December 2007 Macao ~ November 2007 Raffl es, Swissôtel Las Vegas ~ May 1999 Pennsylvania ~ 2009 Macao ~ May 2004 Macao ~ August 2007 Singapore ~ 2009 Macao ~ 2008 Macao ~ 2009 Macao ~ 2010 ellow Shareholders: BOARD OF DIRECTORS EXECUTIVE OFFICERS LOCATIONS I am pleased to present to you our fourth Annual Report. Sheldon G. Adelson Sheldon G. Adelson Las Vegas Chairman of the Board, Chairman of the Board, The Venetian Resort Hotel Casino The Year 2007 was another record-setting year for our company as we Chief Executive Offi cer & Treasurer Chief Executive Offi cer & Treasurer 3355 Las Vegas Boulevard South Las Vegas, Nevada 89109 executed on our operating and development plans around the globe. Our strong William P. Weidner William P. Weidner fi nancial and operating performance, coupled with our industry-leading global President, Chief Operating Offi cer President, Chief Operating Offi cer The Palazzo Resort Hotel Casino development program, have enabled us to extend our position as the preeminent & Secretary & Secretary 3325 Las Vegas Boulevard South worldwide developer and operator of premium convention-based destination hotel Las Vegas, Nevada 89109 Irwin Chafetz Bradley H. Stone casino resorts. Director, Executive Vice President Sands Expo and Convention Center The Interface Group, LLC 201 East Sands Avenue We delivered record hotel revenues and strong fi nancial and operational results at our fl agship resort, Robert G. Goldstein Las Vegas, Nevada 89169 The Venetian in Las Vegas. We also produced strong fi nancial results at the Sands Macao, the fi rst Las Vegas- Charles D. Forman Senior Vice President; style casino in The People’s Republic of China’s Special Administrative Region of Macao. Retired Chairman & President & Chief Operating Offi cer, Macao, China Chief Executive Offi cer, Venetian Casino Resort, LLC Sands Macao In addition, we opened two new mega-resorts, The Palazzo™, adjacent to The Venetian on the Las Vegas Centric Events Group, LLC Largo de Monte Carlo, no. 203 Strip, and The Venetian Macao, the anchor of our Cotai Strip™ development in Macao. The opening of Macao (SAR) Andrew R. Heyer The Palazzo completes our original master-plan in Las Vegas and sets the stage for continued growth in Managing Partner, The Venetian Macao Resort Hotel Las Vegas as we extend our proven convention-based business model over a signifi cantly larger asset base. Trimaran Capital Partners, L.L.C. Estrada da Baia de North Senorha The opening of The Venetian Macao brings Asia’s fi rst true destination Integrated Resort to Macao, and allows da Esperança, s/n George P. Koo us to extend our proven convention-based strategy to one of the world’s fastest growing regions. We were Taipa, Macao (SAR) Special Advisor, honored to welcome nearly eight million visitors to The Venetian Macao from its opening on August 28, 2007 Chinese Services Group through the end of the year. Deloitte & Touche LLP Our pipeline of near-term growth opportunities remains robust. We continued to execute our master Michael A. Leven plan to develop the Cotai Strip into Asia’s premier leisure and convention destination. The development of Vice Chairman, six additional Cotai Strip properties continues to progress, with our second destination resort, featuring a The Marcus Foundation, Inc. Four Seasons-branded hotel, set to open in 2008. Two additional resorts will open in 2009, another two will open in 2010, with the fi nal Cotai Strip resort to be completed in 2011. Upon completion, our Cotai Strip James L. Purcell Retired Partner, developments will contain seven interconnected destination properties featuring 14 internationally recognized Paul, Weiss, Rifkind, hotel brands and an unprecedented collection of hotel, gaming, retail, entertainment and residential offerings. Wharton & Garrison LLP Elsewhere around the globe, we continued to execute our construction and development activities in Irwin A. Siegel Singapore as we develop Singapore’s fi rst Integrated Resort, Marina Bay Sands. We look forward to opening Retired Partner, the Marina Bay Sands, which will bring the economic benefi ts of our convention-based Integrated Resort Deloitte & Touche LLP model to Singapore and South Asia, in 2009. In Bethlehem, Pennsylvania, we continued our construction and development activities on an Integrated Resort on the site of the historic Bethlehem Steelworks. Upon INDEPENDENT TRADING SYMBOL ANNUAL REPORTS completion in 2009, this project will bring the power of our Integrated Resort model to the redevelopment of ACCOUNTANTS Traded on the New York Stock Copies of this Annual Report and the the largest existing brownfi eld site in the United States. PricewaterhouseCoopers LLP Exchange under the symbol: LVS Company’s Annual Report on Form 3800 Howard Hughes Parkway 10-K may be obtained by writing: We continue working to assure that our growth pipeline is fi lled with additional opportunities in emerging Suite 650 CORPORATE COUNSEL Las Vegas Sands Corp. gaming jurisdictions around the globe. Las Vegas, Nevada 89169 Paul, Weiss, Rifkind, c/o Investor Relations Wharton & Garrison LLP 3355 Las Vegas Boulevard South Our many additional 2007 accomplishments are summarized in our 2007 Form 10-K report which follows. STOCK TRANSFER 1285 Avenue of the Americas Las Vegas, Nevada 89109 INFORMATION New York, New York 10019-6064 Thank you for your support and the confi dence you continue to show in our company. American Stock Transfer & Trust Company 59 Maiden Lane New York, New York 10038 Sheldon G. Adelson Las Vegas Sands Corp. has timely delivered the most recent certifi cation Chairman and Chief Executive Offi cer required by Section 303A.12(a) of the NYSE Listed Company Manual. April, 2008 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ¥ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2007 or n TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-32373 LAS VEGAS SANDS CORP. (Exact name of registrant as specified in its charter) Nevada 27-0099920 (State or other jurisdiction of (IRS Employer incorporation or organization) Identification No.) 3355 Las Vegas Boulevard South 89109 Las Vegas, Nevada (Zip Code) (Address of principal executive offices) Registrant’s telephone number, including Area code: (702) 414-1000 Securities registered pursuant to Section 12(b) of the Act: Title of Each Class Name of Each Exchange on Which Registered Common Stock ($0.001 par value) New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ¥ No n Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes n No ¥ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports); and (2) has been subject to such filing requirements for the past 90 days. Yes ¥ No n Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§ 229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. ¥ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a small reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “small reporting company” in Rule 12b-2 of the Exchange Act. (Check one): Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one): Large accelerated filer ¥ Accelerated filer n Non-accelerated filer n Smaller reporting company n (Do not check if a smaller reporting company) Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes n No ¥ As of June 29, 2007, the last business day of the registrant’s most recently completed second fiscal quarter, the aggregate market value of the registrant’s common stock held by non-affiliates of the registrant was $8,001,585,670 based on the closing sale price on that date as reported on the New York Stock Exchange. The Company had 355,352,992 shares of common stock outstanding as of February 21, 2008. DOCUMENTS INCORPORATED BY REFERENCE Description of document Part of the Form 10-K Portions of the definitive Proxy Statement to be used in connection Part III (Item 10 through Item 14) with the registrant’s 2008 Annual Meeting of Stockholders Las Vegas Sands Corp. Table of Contents Page PARTI ........................................................................ 1 ITEM 1 — BUSINESS............................................................ 1 ITEM 1A — RISK FACTORS ......................................................
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