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Sand Corp profit 65 percent down

Las Vegas Sands Corp, the casino company owned by billionaire Sheldon Adelson has suffered a 65 percent fall in net profits. The profits went from $113.6 million a year to $39.9 million a result of large construction costs on multiple resorts. This fall is no major concern to Adelson who has seen massive profits in 2006 and expects continuing rising and rising profits as there is still room for development. Steven Wieczynski an analyst at Stifel Nicolaus commented "It's going to take a while for the Macau market to really shake out. If you can stomach the next six months, 12 months, and you can figure out where Macau's going, this is a really good long-term growth story." Macau is the future of gaming and profits will rise here for quite some time with players staying in Macau now an extra .4 nights up to 1.6 from 1.2.

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