LAS VEGAS, Nev. - Attorneys told conflicting stories about the role that personal relationships and favours play in the Chinese gambling enclave of Macau during opening arguments Wednesday in a . . .
Las Vegas Sands’ Asian Bet Facing Economic and Political Risks: Expert
As Las Vegas Sands Corp. eyes Macau and Singapore for future growth, an expert warned that this move will likely be entangled with economic and political risks.
The upscale resort and casino company announced on March 3 that it has reached an agreement to sell its Las Vegas real property and operations, including The Venetian Resort Las Vegas and the Sands Expo and Convention Center, for an aggregate sale price of approximately $6.25 billion. Meanwhile, the company plans to continue its business in Asia.
The move marks the company’s growing interest in the Asian market.
A favourite saying of casino entrepreneur Sheldon Adelson, whose death was announced on Tuesday, was: “You have to challenge the status quo, you have to change the status quo, and if you change it in any business, success will follow you like a shadow.”
Arguably in this regard, Mr Adelson, founding chairman of Las Vegas Sands Corp and its Macau business unit, Sands China Ltd, lived up to his words.
His death was caused by complications related to his treatment for non-Hodgkin’s lymphoma, Las Vegas Sands said in a statement.
Mr Adelson entered casino-building relatively late in his business career, after selling his Comdex events business in Las Vegas, Nevada in the United States, at the top of the market.
Sheldon Adelson: Supercharged by Asia
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[Ed: The gaming world was met with the sad news of the passing of Las Vegas Sands Chairman and CEO Sheldon Adelson overnight (Las Vegas time). Read our obituary of the visionary gaming figure who singled-handed changed our industry, and for the better.]
After making millions in Vegas, Macau and Singapore propelled Adelson to global power and otherworldly wealth
Sheldon Adelson lived the American dream, from sleeping on a tenement floor as a child to revolutionizing Las Vegas with Venetian and the convention driven business model, becoming a multimillionaire in the process. For most people that would have been enough. But the Las Vegas Sands founder produced a more spectacular second act in Asia.