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Las Vegas Sands Plans to Offer Baccarat on its Private Planes
On February 9th, 2008, Las Vegas Sands Corporation has bought two L-1011 airplanes and is changing the passenger airline to serve as private planes that will ferry players that are considered high rollers to the company's two Strip resorts in Asia. Aside from the usual luxury items that can be found in a private luxury aircraft, customers will also have high limit baccarat tables to entertain them during the fourteen hour flight.
A spokesperson for the Federal Aviation Administration did not see any safety concerns regarding the gaming activities inside the aircraft. Gambling regulators from Nevada said that the officials will not violate any state law if they will allow gaming inside the aircraft.
But any casino win from the players received by Las Vegas Sands on the flight would not be cut by the 6.7% rate that Nevada requires from all gaming profits. Gaming activity on a privately owned plane is like gaming in a cruise ship. The casino facility can only be opened when the vessel is in international territory. Cruise gambling profits are not under any tax collection rules.
Nevada Gaming Control Board head Dennis Neilander commented that there are no needed requirements for Las Vegas Sands to declare the revenue that they earn from the baccarat table in the private plane. Las Vegas Sands also recently filed a Foreign Gaming Notification Statement with the control board, commenting that they plan to hold foreign gambling in international waters above international space.
Neilander commented that under the Las Vegas Law, the organization must hold foreign gambling within the same standard as the company would hold gaming in Nevada and faithfully report all the gaming activities inside the private planes of the casino. The idea of Las Vegas Sands was revealed during the organization's profits conference call with analysts and investors.
Monday, March 03, 2008