Las Vegas Sands Corp. has found an operator for its two Sands hotels that are part of an under-construction casino complex in the Chinese enclave of Macau.
Starwood Hotels & Resorts Worldwide is expected to operate the 1,200-room Sheraton hotel and the 300-room St. Regis hotel. Las Vegas Sands intends to make Macau into a Chinese version of the Las Vegas Strip. Starwood has 22 hotels and resorts under development in China.
The companies said in a statement that they have entered into a nonbinding letter of intent and expect to finalize the agreement by the end of the second quarter of the year.
Las Vegas Sands Corp., which runs the Venetian in Sin City, opened the Sands Macau casino in 2004 and is building the Venetian Macau. The company will run the Macau complex’s casino, entertainment facilities and shopping facilities.