Sands Macau For Sale?

The Las Vegas Sands Corp. may sell the Sands Macau, according to the South China Morning Post.

The Sands was the first foreign-owned casino when it opened in 2004 after China lifted restrictions on casino ownership in gambling enclave of Macau.

Gambling revenues have dropped considerably in Macau over the past year or so. Las Vegas Sands lost about $188 million in 2008 after enjoying a profit of $116 million in 2007.

Sands CEO Sheldon Adelson said in March that he and another executive went to China to meet groups interested in buying into the company.

Two of these groups were construction firms that wanted to finance and construct two hotel projects in Macau that had been suspended by the Sands.