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Las Vegas Sands Will Abide by Founder Sheldon Adelson’s Vision

Published by

December 5, 2024
(GMT+2)

Las Vegas Sands Corp. ‘s recently ascended leaders said on Wednesday that the worldwide casino operator’s future will hew closely to the vision of the company founder Sheldon Adelson, who died earlier this month.The company will keep on investing in its Singapore and Macau casinos, which generate most of the company’s revenue, and consider possibilities of expansion in the US, in New York and Texas, company officials mentioned on a call with Wall Street analysts Wednesday.Sands reported a 67% decline in earnings for the quarter that ended Dec. 31, the first such report since Mr. Adelson’s death. The casino magnate died Jan. 11 from complications of treatment from non-Hodgkin lymphoma at the age of 87. The company started when Mr. Adelson and partners acquired the old Sands Hotel casino on the Las Vegas Strip in 1989. The coronavirus pandemic has removed the casino industry with provisional shutdowns, reduced travel and limited occupancies under social-distancing. Hopes for recovery this year depend on how many tourists and business travelers will return as vaccines are distributed.

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