News on Sheldon Adelson

Slashing of problem gambling earmark is more costly in long run, state is warned

2010-02-25T02:15:28Z

<div><p> A state proposal to eliminate government funding for problem gambling treatment, education and research will not only hurt the lives of compulsive gamblers and their families but will also cost the state by taxing its health care and criminal justice systems, treatment advocates warn.</p><p>The budget cut is expected to free up $1.8 million for the Ne...

Adelson says Asia holds SandsÕ fortunes

2010-02-20T02:16:00Z

<div><p> lasvegassun.com | See Jon RalstonÕs interview with Las Vegas Sands CEO Sheldon Adelson.</p><p> Las Vegas Sands, one of the most storied names in the history of Southern NevadaÕs gambling industry, has become Òan Asian or foreign company doing business in Las Vegas,Ó its CEO Shel...

Las Vegas Sands loss narrows to $113.9M in 4Q

2010-02-22T09:00:16Z

<div id="subtitle">Las Vegas Sands loss narrows to $113.9M in 4th qtr; Macau business improves, Vegas still weak</div><div><p>Casino operator Las Vegas Sands Corp. said Wednesday that its fourth-quarter loss narrowed as its casinos in Macau showed a strong recovery and gambling in the weak Singapore casino delayed again, this time until April</div><div><p>Las Vegas Sands Chairman Sheldon Adelson said the opening of the company's $5.5 billion Singapore casino and resort has been delayed ...

Sands can complete Macau casinos in 5 years

2010-02-23T13:17:44Z

<div><p>SINGAPORE/HONG KONG (Reuters) - Las Vegas Sands &lt;LVS.N&gt;, the world's No. 2 casino operator by market value, could completed all its planned developments on Macau's Cotai strip in five years, sooner than expected, hugely expanding its presence in the world's bi...

Billionaire Adelson receiving Zionism's top award

2010-02-23T17:25:31Z

<div id="subtitle">Billionaire Adelson receiving top Zionism award for lifetime of philanthropy, support of Jews</div><div><p>Billionaire casino-resort developer Sheldon Adelson has been given a rare Zionism award for a lifetime of supporting Jewish causes.</p><p>The 76-year-old chief executive of ADELSON'S MISSTEP IN MACAO </h1><p>The Venetian casino complex in Macao is plenty grand. Singing gondoliers ply their boats along a canal that meanders through a mall featuring luxury boutiques, an 1,800-seat theater for t...

Las Vegas Sands' Hong Kong IPO Flops

2010-02-23T22:13:05Z

<div><p> In keeping with tradition at the Hong Kong stock exchange, the Nov. 30 debut of Sheldon Adelson's Las Vegas Sands Macao spin-off was toasted with mid-morning Champagne. He had reason to celebrate: Only a year ago, as the Las Vegas Sands Chairman Sheldon Adelson, left, and his wife Miriam attend the company listing ceremony at the Hong Kong Stock Exchange Monday, Nov. 30, 2009. Las Vegas Sands Corp.'s Macau operation tumbled more than...

Sands looks to restart Macau casino work next year

2010-02-24T04:55:57Z

<div id="subtitle">US casino giant Las Vegas Sands looks to restart Macau projects next year with IPO funding</div><div><p>U.S. casino operator Las Vegas Sands Corp. plans to resume work in January on its multibillion-dollar gambling resorts in Macau after suspend...

Las Vegas Sands posts wider 3Q loss as taxes rise

2010-02-24T12:32:25Z

<div id="subtitle">Casino operator Las Vegas Sands loses $123 million in 3rd qtr as taxes rise, but shares jump</div><div><p>Casino operator Las Vegas Sands Corp. on Thursday reported a larger third-quarter loss as gambling markets continued to struggle, taxes increased and the company pressed ahead on developing a resort in Macau has a hot hand again. Casino revenues leapt 17%, to a record $1.4 billion, in August as a big gaming palace opened and the Chinese government eased travel restrictions. As a result, casino operators are rushing to shore up balance sheets. Mel...

A China-Charged Bull Market for IPOs in Hong Kong

2010-02-25T04:13:55Z

<div><p> After the collapse of Lehman Brothers a year ago, things were looking grim for American gambling tycoons Steve Wynn and Sheldon Adelson. The two had expanded into Macao, China's gambling hub, j...

Vegas casinos cut costs, slash room prices in 2Q

2010-02-26T02:32:38Z

<div id="subtitle">Vegas casino cos. struggle with cutting costs and slashing room rates as 2Q results worsen</div><div><p>Declines in convention business and tourism took their toll on Las Vegas casino operators in the second quarter, as Wynn Resorts Ltd. and Las Vegas Sands CEO Sheldon Adelson says room rate cuts</div><div><p>The casino industry has seen revenue drop for more than a year at the same time it is coming off an extended building binge. The combination of those factors with the global credit crunch has put many in a financial bind...

Las Vegas Sands loss widens in 2nd qtr

2010-02-26T02:37:49Z

<div id="subtitle">Las Vegas Sands loss widens in 2nd qtr, including lawsuit settlement and charges</div><div><p>Las Vegas Sands Corp. is reporting it lost $175.9 million in the second quarter, compared with a loss of $8.8 million a year earlier.</p><p>The company, controlled by billionaire Sheldon Adelson, but the bullish 75-year-old US casino tycoon is confident he has enough aces up his sleeve to revive stalled projects in Asia.</p><p>The construction of new casinos in Macau and

Adelson says Sands considering Macau IPO

2010-02-26T12:09:23Z

<div id="subtitle">Adelson says Sands may raise $3.5-$4 billion from Macau IPO, selling noncore assets</div><div><p>Cash strapped casino operator Las Vegas Sands Corp. is considering an initial public offering of its Macau assets and the sale of peripheral businesses to raise $3.5 billion to $4.0 billion, chairman Sheldon Adelson visits the Marina Bay Sands construction site on Wednesday July 8, 2009, in Singapore. Adelson said the US$5.5 billion Marina Bay Sands hotel and casino project is now expected to open in January or February, instead of December as the company forecasted earlier this year.(AP Photo/Wong Maye-E)

Las Vegas Sands: Singapore casino opening delays

2010-02-26T12:13:12Z

<div><p>The opening of Singapore's first casino has been put back several months due to shortages of labour and materials, the chairman of developer Las Vegas Sands has said.</p><p>Sheldon Adelson said