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LAS VEGAS, NV--(Marketwire - 03/17/10) - Las Vegas Sands Corp. (NYSE:LVS - News), the leading international developer of multi-use integrated resorts, today cemented its position as an industry leader in innovating and developing sustainable business practices with the launch of its Sands Eco 360° Global Sustainable Development program. The program's launch was highlighted by an announcement that the company's Venetian® Resort and Sands Expo and Convention Center in Las Vegas have achieved LEED® (Leadership in Energy and Environmental Design) for Existing Buildings Gold by the U.S. Green Building Council. The combined Venetian, Sands Expo, and Palazzo® Las Vegas, which in 2008 received LEED for New Construction Silver certification, now comprise the largest LEED building in the world.
"The launch of Sands Eco 360° demonstrates our commitment to sustainable development and operations. Clearly there are important business advantages to operating in a sustainable manner, but when sound business practices are married with sustainable efforts that benefit the environment and our communities, the impact is immeasurable," said Michael Leven, president and chief operating officer of Las Vegas Sands Corp.
According to Mr. Leven, the company saves $4 for every $1 invested in its sustainable development program. He said different aspects of the program are not only implemented in the company's U.S. properties, but are also part of its operations in Macau and Singapore. He noted that all future Las Vegas Sands Corp. properties will comply with Sands Eco 360° principles and standards.
The Sands Eco 360° program builds and expands on the successes of an array of best-in-class and award-winning green initiatives developed by Las Vegas Sands Corp. Its program spans four integral pillars, including: construction and development strategy, operational and maintenance policies, developing vendor partners that comply with the company's green policies, and employee team members who are equally involved in the program.
Mr. Leven said the practices the company has executed under these four pillars in Las Vegas have saved enough electricity to power more than 6,500 average American homes annually. Other benefits include the saving of nearly 100 million gallons of potable water per year and the recycling of 55 percent of daily trash and 75 percent of food waste -- enough to be the largest single-property recycler in Las Vegas. The company also utilizes the largest solar-thermal system in the United States, which provides hot water for pools, spas, and domestic uses. In constructing The Palazzo, the company used steel with 95 percent recycled content, and diverted 42,000 tons of refuse from landfills. "We have piloted many leading green technologies and processes at The Venetian Las Vegas and The Palazzo that have yielded notable results," he stated.
"We look at our operations in Nevada as an incubator for new technologies and policies," continued Leven. "We also are responding to the green demand from our clients, guests, employees and local communities. But we not only strive for our properties to be sustainability leaders, we also share our processes and experiences with other businesses and governments."
"Las Vegas Sands is leading the way in innovating and implementing green development and operational best practices for the integrated resort industry," said Tim Cole, chair of the executive committee of the U.S. Green Building Council, which develops and supports the LEED green building certification program. "We are proud to grant The Venetian Las Vegas with LEED-EB Gold certification and recognize Las Vegas Sands Corp. for its stellar work in the area of sustainability."
LEED is an international accepted benchmark for the design, construction and operation of high-performance green buildings. It provides third-party verification that a building or community was designed and built using strategies aimed at improving performance across all the metrics that matter most: energy savings, water efficiency, carbon dioxide emissions reduction, improved indoor environmental quality, and stewardship of resources and sensitivity to their impacts.
Statements in this press release, which are not historical facts, are "forward-looking" statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve a number of risks, uncertainties or other factors beyond the Company's control, which may cause material differences in actual results, performance or other expectations. These factors include, but are not limited to general economic conditions, competition, new ventures, government regulation, legalization of gaming, interest rates, future terrorist acts, insurance, and other factors detailed in the reports filed by Las Vegas Sands Corp. with the Securities and Exchange Commission. Las Vegas Sands Corp. assumes no obligation to update such information.
ABOUT LAS VEGAS SANDS CORP.
Las Vegas Sands Corp. (NYSE:LVS - News) is the leading global developer of integrated resorts -- destination properties which feature premium accommodations, world-class gaming and entertainment, convention and exhibition facilities, celebrity chef restaurants, and many other amenities.
The Venetian and The Palazzo, both Five-Diamond luxury resorts on the Las Vegas Strip, are among the company's properties in the United States. Marina Bay Sands, the company's iconic project currently under development in Singapore, will open in the second quarter of 2010.
Through its majority-owned subsidiary Sands China Ltd, the company also owns a portfolio of properties in Macau, including The Venetian Macao, Four Seasons Hotel Macao and the Four Seasons-branded serviced-apartments on the Cotai Strip™, as well as the Sands Macao Hotel on the Macau peninsula.
The Cotai Strip is a master-planned development of destination resort properties where the company is currently constructing a 6,400-room complex which will feature the Shangri-La, Traders, Sheraton, and St. Regis hotel brands and is scheduled to open in 2011.
For more information, please visit http://us.lrd.yahoo.com/_ylt=AlilLujv5KZTpAWDEkQ66F.tcq9_;_ylu=X3oDMTE2dGZyMjMwBHBvcwMzBHNlYwNuZXdzYXJ0Ym9keQRzbGsDd3d3bGFzdmVnYXNz/SIG=1129v30ui/**http%3A//www.lasvegassands.com/.
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