Earlier this week, rumors had surfaced that the American Gaming Association and Reed Exhibitions would announce that the G2E convention would be moved to Las Vegas Sands (LVS: 30.07 +2.31%) Sands Expo Center.

On Tuesday AGA President Frank Fahrenkopf made the announcement confirming that the eleventh annual Global Gaming Expo will indeed be moved from its long time home at the Las Vegas Convention Center to the Sands Expo Center at the Venetian Resort and Casino.

The event will also be held on an earlier date, Fahrenkopf said that at the request of many of the casino operators and game manufactures that attend the event, next year’s Expo will be held in October instead of November.

“Our operators need to make budget decisions and their budgeting had usually already been done by November,” Fahrenkopf said, “We think this move will help those decision makers plan for the year ahead.”

AGA has entered into a three year contract with Las Vegas Sands to host the event.

The prestigious honor was awarded by Meetings and Conventions magazine for 2010 based on voter’s experiences.

The Venetian is the only property in Las Vegas to consistently receive the “elite” status over the past five years; the Venetian has won the Gold Key award eleven years in a row and the Gold Platter award nine years in a row.

The Gold Key award recognizes the property for staff attitude, quality of meeting rooms, quality of guest services, quality of food and beverage service, proficiency of handling reservations, technical/support equipment and range of recreational facilities, while the Gold Platter award recognizes the resorts catering department for excellence displayed in creativity and culinary experience through staff enthusiasm and professionalism, quality of food presentation, creativity of menu, originality of theme-party concepts, helpfulness and budgeting considerations, excellence of staff service and dining room ambiance.

“This is quite an achievement to be among the top five properties with the ‘Elite’ status in both the Gold Key and Gold Platter categories,” stated Gary L. McCreary, vice president of Catering and Convention Operations for The Venetian. “Our team strives for excellence and this award is a testament to that commitment.”

With the addition of table games in operation for just under two weeks during the month, the Sands Casino Resort Bethlehem accounted for approximately $1.6 million of the total table game revenue generated by the state.

On July 18, 2010 the one year old casino added 89 table games including poker, blackjack, roulette and craps to its already profitable 3,000 slot machine casino that was opened in late May 2009.

For the month of July, Sands reported that its total gaming revenue was up 25% from June.

The state’s nine casinos brought in more than $17.5 million in gaming revenue for the month with approximately $350,000 going to local governments and $2 million to the state.

The Global Gaming Expo is expected to unveil plans for “significant changes” to next year’s event on Tuesday.

The casino industry’s largest annual trade show and conference where gaming developers unveil their newest product lines is now in its 10th year and will be held between November 15 and November 18 at the Las Vegas Convention Center, however next year the event may be moving to the Sands Expo Center.

News reports are saying that Tuesday’s news conference will be given by American Gaming Association President Frank Fahrenkopf Jr., Reed Exhibitions Senior Vice President Courtney Muller, Bally Technologies Chief Executive Officer and the gaming association’s vice chairman Richard Haddrill as well as Las Vegas Corp. President Michael Leven.

In the first half of the year, Sands China said its Macau casinos have generated quadrupled profits compared to the first half of 2009.

During the period ending June 30, 2010 Sands China’s gaming operations have produced a net profit of US$250.5 million compared to US$58.3 million in the same period last year.

Revenue for the casino rose 32% to US $1.98 billion up from US$1.5 billion in the first half of 2009.

In the U.S. market, parent company Las Vegas Sands said that the strong growth in Macau and higher margins helped second quarter 2010 financial results reporting earnings of $129.3 million or $0.17 a share after one-time adjustments were accounted for.

Despite the high results Sands China’s Board of Directors did not recommend a first half dividend payment, due to challenges affecting its growth in the Chinese region.

The expansion project knows as parcels 5 and 6, only have approximately 1,300 construction workers on site and according to acting chief executive Mike Leven 10,000 to 11,000 will be needed in order to hit the original plan of a third quarter 2011 opening.

Leven added that at the current rate a fourth quarter opening would be “optimistic” however Macau will not allow Sands China to hire foreign workers to complete the project and with the saturated market there is not enough available construction crews.

The press statement read “Due to matters beyond the Company’s control, we have faced challenges acquiring the construction labor that we need quickly enough to be able to meet our original development and opening deadlines.”

Once Sands is able to obtain enough labors to “ramp up” construction it will take approximately 16 months to complete phase one of the project.

Marina Bay Sands, Singapore’s largest integrated resort has signed a Memorandum of Understanding with the Institute of Technical Education (ITE) to help educate and train both students and faculty in the service industry.

“Marina Bay Sands is proud to have signed its first educational MoU with ITE, an internationally recognized institution that consistently enhances its programs to complement the needs of Singapore’s dynamic service industry. As Asia’s most exciting destination, Marina Bay Sands is proud to be able to inspire the future generation and equip them with exceptional skills to create a once-in-a-lifetime experience for all our guests.” commented Thomas Arasi President and Chief Executive Officer of Marina Bay Sands.

Through the partnership Sands will help develop training course at ITE and have agreed to allow students hands on training at special events held at the Sands Expo and Convention Center as well as offering positions in Hotel Operations, Food and Beverage, Retail Services and event management to “successful” students of the ITE programs.

David Sylvester, senior vice president of Sands’ Asia retailing operations said that contracts have been signed for approximately 95% of the center’s capacity.

50 retail shops are scheduled to open at the resort during the month of September in addition to more than 100 shops that have already opened. The retail venue will house over 300 shops and restaurants once fully operational.

The challenge facing the casino giant is filling the retail space with luxury shops that offer the already saturated market with unique products that Singapore residents cannot acquire elsewhere.

With less restrictions placed on Sand’s cash flow and debt burdens eased, Moody raised Sands to a “B2” rating in most areas.

Sand’s corporate family and probability of default ratings were raised on Friday from a “B3” rating to a “B2” rating, along with its 6.375% senior notes, its senior secured term loans and senior secured revolver.

Moody’s senior vice president, Keith Foley said that the gaming company’s strong performance in Macau and Singapore, which accounts for approximately 75% of Sand’s net revenue, allowed them to maintain a positive outlook and grade liquidity rating of “SGL-2.

Despite the boost, LVS stock stayed relatively flat during Friday’s trading session, closing the market at $29.63, one penny below Thursday’s closing price of $29.64.

The report said that Credit Suisse Group AG has arranged for the gaming giant to extend a portion of the loan for 2 and a half years but will be required to repay $1 billion or 40% of the extended amount and pay an additional 2.75 percentage points on the loan.

Terms of Las Vegas Sands’ current credit agreement has tightened the company’s leverage ratio resulting in Sands’ needs to free up cash availability.

Shares of LVS have been moving higher during today’s trading session up 1.66% to close the market at $28.86.

Las Vegas Sands has been trading in the $28 range since last month with the exception of August 11 when the stock slipped to $26.93.

When the news was released that Jacobs was terminated speculation arose that there was tension between the two men after Jacobs made predictions about when Sands would enter the casino market in Japan. However during the press gathering Michael Leven interim CEO said that that had little to do with it.

Leven pointed out that the positions that Edward Tracy and David Sisk had filled had been open for most of the year, and that Jacobs had been unwilling to fill them.

“At the end of the day, he didn’t feel they were appropriate, or didn’t want to feel they were appropriate.” Leven said adding that Tracy and Sisk’s resumes were not among those seen by Jacobs.

“It was symptomatic of a certain style of management,” Leven said referring to Jacobs. “I wouldn’t say it was the reason, but it was part of the package that caused the discomfort in the relationship.”

Marina Bay Sands and the The Inter-Pacific Bar Association released a joint statement on Wednesday saying that they have reached an “amicable settlement” and that both parties would drop all pending lawsuits so that they could “work together in the future”.

The two groups have been engaged in lawsuits since Marina Bay Sands hosted its first conference for the IPBA during its grand opening of the $5.5 billion Singapore casino resort complex in April.

The IPBA withheld payment from the resort and claimed that power failures, a leaky roof and unfinished hotel rooms affected their conference.

While the terms of the settlement are confidential, the statement indicated that the IPBA would receive a discount on its bill originally totaling S$841,246 (U.S. $670,000) of which $200,000 had been paid.

Since opening its Macau operations, Sands China has passed on forming relationships with Junkets, to bring in VIP gamblers. Junkets allow the gaming facilities to reduce their credit risk and drive customer volume into the casino. However following the recent management changes in China, the new officers are taking a look at the need for these relationships.

Sands China is studying the impact that the use of middle men may have on the casinos bottom line and attempting to see if it is more cost efficient to use Junkets instead of marketing directly to high rollers.

“It will be a number of months before we come to a conclusion,” said Michael Leven, chief operating officer for Las Vegas Sands and acting chief executive officer of Sands China.

Last month, Sands China terminated the employment of CEO Steve Jacobs and appointed Leven to fill the role until a permanent placement can be found. Edward Tracy was also hired as the new President and COO of non-gaming operations, while David Sisk was hired as Executive Vice President and Chief Casino Officer, both will assume their new roles on August 10.

Through his appointment, Chao will take part in the design of future Las Vegas Sands properties as the company positions itself for growth around the world.

Chao is most famous for the planning, architecture and development of Disney Land. Through his career Chao lea Disney’s development of parks in California, Florida, Paris, Tokyo and Hong Kong. Chao has also worked with the world’s most renowned architects to design hotels, retail/dining/entertainment venues, sports complexes and cruise ships.

“Wing Chao is a world renowned master planner and architect. We have admired his work and remarkable achievements for a long time,” said Las Vegas Sands Chairman and Chief Executive Officer Sheldon G. Adelson. “We are very excited that Wing is joining our board at a time in which our company continues to implement our current development plans and explores future growth opportunities in Asia as well as other parts of the world.”

In 2007 the gaming giant entered into a $5 billion credit facility with Goldman Sachs and Citi that included a $1 billion revolving credit line due in mid 2012, a delay-draw loan of $400 million due in 2013, $3 billion in term loans due in 2014 and a delay-draw loan of $600 million also due in 2014.

In February, Chief Operating Officer Michael Leven said that the company would likely look to refinance the loans after the opening of Marina Bay Sands Casino in Singapore which went live this past April.

“We don’t have to do it right away, it’s easy for us to watch the deals that are being done.” Leven said. “If Singapore opens well, our leverage gets much better.”

In April of 2009, Sands amended its credit facility with the option to buy back up to $800 million in term loans before September 30, 2010.

Although still in the red for the period ending June 30, Sands beat analysts’ expectations of $0.09 a share coming in at a loss of $4.7 million or $0.01 per share however after adjusting for one-time items Sands earned $129.3 million or $0.17 a share.

Revenues in Macau rose 40.7% to $1.04 billion. The Venetian Macau, Sands Macau and Four Seasons Macau posted $738.9 million in the same period last year.

In the first 65 days of operations in Singapore, Marina Bay Sands $5.7 billion Integrated Resort generated $94.5 million.

Chairman and CEO, Sheldon Adelson was overwhelmed by the reception that both properties has seen since opening.

However a world away on the Las Vegas strip, Sands revenues dropped 5.4% to $276.2 million. Adelson said that the resorts have seen an increasing number of group bookings, improved hotel occupancy rates and increased gaming volumes however low win percentages offset increases.

Effective August 10, 2010 Edward Tracy will become the President and COO overseeing all non-gaming operations of the company’s Macau Unit. David Sisk will also assume the role of Executive Vice President and Chief Casino Officer responsible for gaming operations in Macau that include the Sands Macao, The Venetian Macao, The Four Seasons Hotel Macao, Plaza Casino and future operations falling under Sands China jurisdiction.

“I am very pleased to welcome Edward and David to the very best team in Macau. In the past months, the Sands China team has been through some tough challenges and yet we are able to deliver tremendous business results. We are all very proud of the achievements,” said, Mr. Michael A. Leven, acting Chief Executive Officer of Sands China Ltd. “As Sands China enters a new era of growth, the demand of great leadership is paramount to take the company to the next level. With Edward and David’s extensive experience in the casino and hotel industries, together with the already established management team of Sands China, the company will further strengthen itself as the leader in the integrated resort business in the region.”

“We think the stock will likely pull back on perceived continued management strife and the fact that most investors believe that Steve was doing a solid job in managing costs, growing mass and direct VIP share, and working on the redevelopment of sites 5 and 6,” J.P. Morgan gaming analyst Joseph Greff said in a research note to clients.

Steve Jacobs was removed from his position as CEO of Sands China on Friday and although Chairman Sheldon Adelson has tried to ease concerns by saying the removal will not affect the completion of the casino operator’s Cotai strip project expected to open in 2011, shares of Sands China have begun falling to a new two week low down 4% to $11.52.

However investors are not sharing the same concern in the U.S. Market where parent company Las Vegas Sands has seen its stock price rise 1.25% during the afternoon hours to $25.86.

While reasons were not given for the “termination” of Jacobs from Sands China Ltd. speculation has risen that Jacobs was let go for comments made last month regarding Sand’s possible expansion into Japan.

In June Adelson responded to Jacobs comments that a Japan operation was likely in 2014 or 2015 by saying, “I’ve said I’d like to bring our subsidiary (Sands China) in as a partner if we do go in Japan but I didn’t ask Steve to make prognostications about when Japan is going to be open.”

Adelson said in the statement that Jacobs’ departure would not hinder the completion of the Sheraton/Shangri-La/Traders complex currently under development on parcels five and six of the Cotai strip.

Michael Leven, CEO of Las Vegas Sands will lead Sands China in the interim as acting chief executive and board member, under the advisement of former president Stephen Weaver and will work with a special committee comprised of board members to select a permanent replacement.

The case filed on Wednesday marks the third such lawsuit for the casino operator on similar allegations. Last year a Clark County District Court Judge ruled on three combined cases that the shareholders failed to show mismanagement by board members or that they breached their fiduciary duties. Six months later one of those shareholders refilled his case and is still pending in the court system.

The investors behind the latest lawsuit are looking to recover damages from 2007 to early 2009 when stock prices dropped dramatically from $144 per share down to $2 per share. They are accusing Chairman and CEO Sheldon Adelson and former board member and President and Chief Operating Officer William Weidner of making false and misleading statements about the company’s prospects that led to inflated stock prices.

Las Vegas Sands’ attorneys have not yet responded to either suit.