On Chinese consumers traveling abroad (LVS 2Q05 conf call quotes)

Las Vegas Sands (ticker: LVS) reported Q2 2005 earnings results last week. Here are key quotes attributed to LVS President and COO William Weidner from management's earnings results conference call:

On Chinese consumers traveling abroad

....what is happening with the traveling Chinese consumer. It has been nothing short of extraordinary in terms of the amounts of money being spent per capita by the traveling Chinese from mainland China.

....just this past year, they surpassed that of the Japanese, who have been driving luxury retail for the past decade. So, we just think there's an enormous opportunity there, and we are developing very high-quality mall square footage that we think we can develop into very profitable real estate investments.

On the prospects for Macau

....the 2007, 2008 timeframe will mark a tectonic change in Macao as it emerges as a world-class, high-end casino destination and resort on the doorstep to China. By 2010, with the completion of massive regional infrastructure improvements, roads, rails, bridges linking the west side of the Pearl River Delta and connecting it to Hong Kong to the East, the gain will truly change forever. We believe that, when today's opportunities are realized, we will look back and say it was obvious from the lead indicators. We believe the situation is somewhat similar to Sheldon Adelson's call on the importance and the value of the convention market for the future of Las Vegas made in 1995.

(Quotes are from the CCBN StreetEvents transcript.)

LVS chart.

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