Elite Retailer Set to Anchor The Shoppes at The Palazzo(TM)
LAS VEGAS, April 6 /PRNewswire-FirstCall/ — Las Vegas Sands Corp. (NYSE:LVS) , owner of the famed Venetian Resort Hotel Casino, announced today that Barneys New York will open a flagship store in the company’s new Palazzo Resort Hotel Casino currently being constructed next to The Venetian on the Las Vegas strip.
“Barneys is the preeminent name in luxury retail and is a perfect match for the style and sophistication visitors have come to expect at The Venetian and will soon experience at The Palazzo,” said Robert Goldstein, president of The Venetian and The Palazzo.
Opening in the summer of 2007, The Shoppes at The Palazzo(TM) will offer an upscale shopping experience with Barneys, one of the most sophisticated and well known luxury retailers in the country, serving as the anchor of the 450,000 square-foot retail complex. Even while operating in an already renowned shopping mecca, Mr. Goldstein predicts the site of Barney’s brilliant red awnings and style-setting window displays on the Strip will serve as a beacon to the world’s most discriminating shoppers and will change the retail landscape in Las Vegas forever.
“We are thrilled to have an outstanding retailer such as Barneys New York as the flagship store for The Shoppes at The Palazzo. This addition speaks volumes as to the type of upscale shopping experience guests can expect,” said John Bucksbaum, chief executive officer of General Growth Properties (NYSE:GGP) , owner and manager of The Grand Canal Shoppes and eventual owner of The Shoppes at The Palazzo. “Barneys is one of the most prominent brand names in the world. We are excited that they have decided to bring their iconic brand to Las Vegas and we are proud that they chose to call The Shoppes at The Palazzo home.”
The $1.6 billion Palazzo Resort Hotel Casino, with a design and ambience reminiscent of high-end locales such as Beverly Hills and Bel Air, will feature more than 3,000 all-suite rooms and offer its new shopping, dining and entertainment on two luxurious levels. The Shoppes at The Palazzo(TM) will be connected to The Venetian via The Grand Canal Shoppes and will include six new restaurants and approximately 80 high-end and mid-level stores from the most recognizable brands to the hottest new comers and unique one-of-a-kind boutiques drawn from all over the world. The Palazzo will also feature a 1,800-seat theater that is expected to host a major production or Broadway show.
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.
Las Vegas Sands Corp. is a hotel, gaming, resort and exhibition/convention company headquartered in Las Vegas, Nevada. The company owns The Venetian Resort Hotel Casino and the Sands Expo and Convention Center, where it hosts exhibitions and conventions, in Las Vegas and the Sands Macao in the People’s Republic of China Special Administrative Region of Macao. The company is also developing additional casino hotel resort properties, including The Palazzo Resort Hotel Casino in Las Vegas and The Venetian Macao Casino Resort in Macao. For more information, visit www.lasvegassands.com.
GENERAL GROWTH PROPERTIES, INC.
General Growth Properties, Inc. is the second largest U.S.-based publicly traded Real Estate Investment Trust (REIT). General Growth currently has an ownership interest in or management responsibility for a portfolio of more than 200 shopping malls in 44 states, as well as ownership in planned community developments and commercial office buildings. The portfolio totals approximately 200 million square feet of retail space and includes more than 24,000 retail stores nationwide. General Growth Properties, Inc. is listed on the New York Stock Exchange under the symbol GGP. For more information, please visit the Company Web site at http://www.generalgrowth.com/.