Las Vegas Sands said Tuesday that Miriam Adelson, the company’s controlling shareholder, plans to sell off a $2 billion stake in company stock and will use the proceeds to purchase a professional sports franchise.
According to the filing with the Securities and Exchange Commission, the sale would reduce Adelson’s stake in the casino company — which is based in Las Vegas but only has active casino operations in Macau and Singapore — by more than 4 percent.
The filing did not disclose any details. A few hours later, though, Sportico reported the Adelson family was buying a majority stake in the NBA’s Dallas Mavericks but owner Mark Cuban would continue to retain operational control of the team.
