REAL ESTATE
Times Staff and Wire Reports
World’s Biggest Hotel to Be Built on Sands Site: Sheldon Adelson, founder of the Comdex computer trade show, said he plans to tear down his aging Sands hotel and casino in Las Vegas and fire its 1,200 employees to make way for a new $1.5-billion complex that will include the largest hotel in the world. Adelson, who sold his trade show business for $800 million to Japan’s Softbank Corp. last year, said he plans to raise the money for the project by selling debt and taking out bank loans. Adelson said he plans to close the Sands on June 30 and to begin demolishing the complex by October. He said the fired workers will receive outplacement support services.
