PwC removes concern over casino operator’s finances

The famous Las Vegas Sands casino business has had a going concern warning
reversed, after raising new capital.

Las Vegas
Sands
, which is one of the biggest casino operators in Las Vegas,
was issued with a going concern statement from its auditors
PricewaterhouseCoopers a month ago. But after Sands raised over $2bn in new
capital, PwC removed its concern, reported Reuters.

‘We previously concluded that there was substantial doubt about the company’s
ability to continue as a going concern. Management has subsequently taken
certain actions which we have concluded remove that substantial doubt,’ PwC said
in a regulatory
statement.

The casino industry has been hit with a slowdown, problems accessing credit
and the Chinese government has looked into Macau’s growing market, Reuters
reports.

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