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Market Update Analysis: 
Sands up 12% on Winning Singapore Casino Bid
Author: Elena Todorova
123jump.com
Last Update: 11:57 AM EDT May 26 2006


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Las Vegas Sands rose 12% on news that it won the right to build the first casino resort in Singapore, ousting other bidders like MGM Mirage and Harrah''s Entertainment. In March, Sands said that it was prepared to spend $3.6 billion to develop the Marina Bay property, which includes 2,500 hotel rooms, 1.2 million square feet of meeting space, a million more in retail and three entertainment venues.

 
Crude oil advanced 15 cents to $71.47 a barrel by 0247 GMT; London Brent crude gained 17 cents at $70.88. Gold bullion opened Friday at a bid price of $650.80 a troy ounce, higher than $643.75 late Thursday. The dollar gained against the euro. The euro bought $1.2785 in morning European trading, down from $1.2793 in New York late Thursday. The British pound remained virtually unchanged, moving up to $1.8718 from $1.8717. The dollar advanced to 111.92 Japanese yen from 111.76 yen.
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