Las Vegas Sands’ future rests with Miriam Adelson and her nearly 57 percent ownership

Las Vegas Sands’ future rests with Miriam Adelson and her nearly 57 percent ownership

Article brief provided by Nevada Independent
  • Howard Stutz, Nevada Independent
January 19, 2021 9:05 PM
  • Howard Stutz, Nevada Independent

    Long before the passing of Las Vegas Sands Chairman and CEO Sheldon Adelson, the casino company he founded and commanded with his overwhelming presence for more than 32 years, was going through a transformation.

    That’s commonplace for a gaming conglomerate with operations on two continents, a worldwide workforce of more than 50,000 and a market capitalization of $45 billion.

    The question, however, is who oversees the playbook for Las Vegas Sands going forward?

    The company is involved in gaming expansion discussions in two states, is considering the possible sale of its Las Vegas Strip holdings and is spending $5.5 billion to renovate and grow its casino holdings in Macau and Singapore.

    At the same time, Las Vegas Sands is looking to rebound from the heavy economic toll the COVID-19 pandemic inflicted on its casino operations. The company’s revenues are down more than 47 percent, and it suffered a net loss of more than $1.3 billion in the first nine months of 2020.