Sands tells investors about financial woes


Las Vegas Sands Corp. told investors this morning the company may be in default of some loans if it can’t raise capital, threatening its ability to keep operating.

In a filing with the Securities and Exchange Commission, the operator of the Venetian and Palazzo said it doesn't expect to meet a maximum leverage ratio covenant in the fourth quarter. That would trigger defaults that might force the company to suspend development projects and "raise a substantial doubt about the company's ability to continue as a going concern.'"

Shares of the company were down 25 percent this morning in trading on the New York Stock Exchange.

 

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