10/30/2009 - Las Vegas Sands Corp. (NYSE:LVS) shares rose 6.2% Friday after the casino operator received approval for its Hong Kong IPO and after CEO Sheldon Adelson offered upbeat comments, according to an AP report. The move is expected to raise $2 billion or more to help Las Vegas Sands reduce its debt and restart a casino-resort project in China. The IPO is expected to come later in the year, after Wynn Resorts Ltd.'s Hong Kong IPO launched earlier this month. The news that the casino operator's Hong Kong IPO comes out shortly after the company reports a wider-than-expected third quarter loss. The loss was due to softer gambling markets, higher taxes, and costs from the development of its new Singapore resort. Las Vegas Sands' CEO Sheldon Adelson said he sees strong signs that bad times might be turning around because of a return of convention business and group bookings.

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