US-based gambling operator Las Vegas Sands is to be added to the list of S&P 500 index which has all top US-listed companies.
Vegas Sands will also be the third gambling operator to make it to the S&P 500 index. MGM Resorts and Wynn Resorts are the two gambling operators currently on the index.
The S&P Index is a list of top 500 US-listed companies which the rating agency publishes following measurement of the stock performance of the companies. The companies making it to the S&P 500 Index are the top-performing companies for a given period in time.
Vegas Sands will replace Nectar Therapeutics on the S&P 500 index on Thursday.
“It’s always an honor to be recognized as an industry-leading company and a successful global enterprise,” Sands spokesman Ron Reese said in a statement.
Las Vegas Sands operates several casinos in the US and also in Singapore and Macau. It operates The Venetian Las Vegas, Palazzo Las Vegas and Sands Expo in the US, Marina Bay Sands in Singapore and five casino resorts in Macau, namely The Venetian Macao, The Parisian Macao, Sands Macao, The Plaza Macao, and Sands Cotai Central.
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 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 loan has been made available by the Development Bank of Singapore (DBS).