Korea Investment CORP has minimized its stakes in the US-based gambling and hospitality giant Las Vegas Sands. In its latest filing with the Securities and Exchange Commission (SEC) the investor confirmed that they have sold about 36.5% of their stakes in Vegas Sands during the second quarter to June 30.
The investor group held 107,200 shares in Vegas Sands after selling 61,600 shares during the second quarter of 2019. Korea Investment CORP’s stakes in the US casino operator is worth $6,334,000 at the end of the second quarter as per filings with the SEC.
Recently, the gambling operator secured a multi-billion dollar loan to fund its expansion plans in Singapore. In its recent filing with the Securities and Exchange Commission (SEC) the gambling, operator has revealed that it has secured the loan to make further investments in Singapore to expand operations at its Marina Bay Sands Hotel and Casino.
The company sought a loan for the first time since 2012 when it had secured a $5 billion loan. The current loan has been made available by the Development Bank Of Singapore.
Last month, Vegas Sands Chairman and Chief Executive Officer Sheldon Adelson also confirmed that they are no longer in the race for a casino license in Osaka Prefecture in Japan and that he thinks that Tokyo or Yokohama is a better investment opportunity.