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Sands China, Cirque Du Soleil: To End 10-Year Zaia Contract After Just 3.5 Years

The Macau unit of Las Vegas Sands Corp. (LVS) and Cirque du Soleil Tuesday said they were ending a 10-year contract after just three and a half years, underlining the difficulty some companies have faced trying to transform the Chinese gambling haven into an entertainment destination. The Quebec-based entertainment company will perform its last Zaia show--its first permanent production to open in Asia--on Feb. 19 after several years of disappointing ticket sales, the companies said in a joint statement, Average occupancy at the Zaia show in January was just 40%, according to a representative for the Canadiann company, whose productions have been popular in the West, particularly in the U.S.'s gambling capital Las Vegas. The combined cost of creating the show and the custom-built theater for Zaia exceeded US$150 million, according to an August 2008 press release for the show's premier. "In view of the market trend and customer demand shown in the research we've conducted, the company will again be investing to redesign the theater," said Gus Liem, Vice President of Entertainment at Sands China Ltd. (1928.HK). -By Kate O'Keeffe, Of Dow Jones Newswires; Keeffe@dowjones.com

Stock News for Las Vegas Sands (LVS)
DateTimeHeadline
05/25/201613:04:00MSG, Las Vegas Sands Plan 17,500-Seat Concert Venue
05/25/201609:00:00The Madison Square Garden Company and Las Vegas Sands to Bring...
05/12/201606:02:55Current Report Filing (8-k)
05/11/201623:40:00Las Vegas Sands Reaches Agreement with Nevada Regulators
05/11/201622:04:00Las Vegas Sands Reaches Agreement with Nevada Regulators
05/06/201616:55:18Quarterly Report (10-q)
05/03/201613:20:00Sands Education Council Announces Teacher Appreciation Discount...
04/22/201616:38:40Additional Proxy Soliciting Materials (definitive) (defa14a)
04/22/201616:32:16Proxy Statement (definitive) (def 14a)
04/21/201613:49:00Las Vegas Sands Commemorates Success of "I Will If You Will...
04/20/201619:03:00Las Vegas Sands Profit Falls as Macau Remains Challenging...
04/20/201618:00:00Las Vegas Sands Profit Falls
04/20/201617:41:00Las Vegas Sands Profit Falls as Macau Remains Challenging
04/20/201616:08:19Current Report Filing (8-k)
04/20/201616:01:00Las Vegas Sands Reports First Quarter 2016 Results
04/13/201611:00:00Las Vegas Sands to Announce First Quarter 2016 Financial Results
04/12/201606:01:30Current Report Filing (8-k)
04/08/201602:31:00Sands to Pay $9 Million In SEC Settlement -- WSJ
04/07/201622:51:00Las Vegas Sands to Pay $9 Million in SEC Settlement
04/07/201615:00:00Las Vegas Sands Settles SEC Charges for $9 Million

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