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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
03/04/201703:02:00Macau Casino's Mystery Gambler -- WSJ
03/03/201705:59:00The Hunt for the Mysterious Big Winner at Las Vegas Mogul's New...
03/01/201720:54:00Las Vegas Sands to Participate in the 2017 J.P. Morgan Gaming...
02/24/201716:28:31Annual Report (10-k)
02/23/201712:30:00Casino Companies Seek a Foothold in Georgia, a Gambling Holdout...
02/23/201705:59:00Casino Companies Seek Foothold in Georgia, the U.S.'s Last Big...
02/17/201708:36:55Current Report Filing (8-k)
02/16/201712:21:00Fortune Names Las Vegas Sands a "World's Most Admired Company"
02/14/201718:12:47Annual Statement of Changes in Beneficial Ownership (5)
02/14/201718:00:13Annual Statement of Changes in Beneficial Ownership (5)
01/31/201701:22:00Sheldon Adelson Pulls Out of Las Vegas Stadium Plan
01/25/201721:50:00Las Vegas Sands Results Miss Wall Street Targets -- Update
01/25/201718:45:54Statement of Changes in Beneficial Ownership (4)
01/25/201716:54:00Las Vegas Sands' Quarterly Results Miss Wall Street Targets
01/25/201716:22:05Current Report Filing (8-k)
01/25/201716:01:00Las Vegas Sands Reports Fourth Quarter and Full Year 2016 Results
01/20/201706:02:46Current Report Filing (8-k)
01/20/201701:24:00Sands to Pay $6.96 Million to Settle U.S. Investigation
01/17/201720:58:00Las Vegas Sands to Announce Fourth Quarter 2016 Financial Results
01/13/201703:02:00Casino Tycoon Adelson, WSJ Settle Libel Suit -- WSJ

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