American operator’s new boss has reportedly detailed that his firm could be obliged to spend up to $10 billion in order to keep its Macau casino concession.
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It was the first quarterly earnings report since the death on January 11, of the parent group’s founding chairman and chief executive, Sheldon Adelson. The newly-confirmed chairman and CEO, Robert Goldstein, said in prepared remarks, issued with the latest results, that the weeks since, had been “difficult”, but that the group’s operating strategy – “investing aggressively to build iconic resorts” remained “firmly in place”.
Sands China posted a net loss of US$246 million in the fourth quarter, under half of the US$562-million loss in the third quarter. The result was a far cry from the net income of US$513 million that Sands China reported in the fourth quarter of 2019.
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A traumatic year for Las Vegas Sands, with the death of its founder Sheldon Adelson and readjusted board, has resumed with news of a 67.3 per cent loss in the f
By Syndicated Content
Jan 26, 2021 4:12 PM
(Reuters) - Las Vegas Sands Corp, the world s largest casino company, on Tuesday named its long-time executive, Robert Goldstein, as chairman and chief executive officer.
The appointment comes after American casino mogul Sheldon Adelson, who built lavish gambling palaces that made him one of the world s richest men, died earlier this month at 87.
Adelson was Las Vegas Sands chairman and chief executive officer since its inception in the late 1980s.
Goldstein, who assumed the role of acting chairman and CEO on Jan. 7, joined Las Vegas Sands company in 1995 and became a member of its board in 2015. He has served as president and chief operating officer since January 2015.