Company: Las Vegas Sands
Family Name: Adelson
Given Name: Sheldon
Role: Chairman and CEO
Profile: Arguably the most powerful individual in the gaming industry, Adelson is the founder, chairman, and CEO of Las Vegas Sands, largely credited with having developed the highly successful model of IR development based on MICE facilities. He is also a multi-billionaire who donates large sums of money to political campaigns in the United States and elsewhere.
The official announcement by Mayor Fumiko Hayashi that Yokohama would enter the IR race in earnest has set off a scramble among major IR operators, with Las Vegas Sands announcing that it was completely abandoning its efforts to partner with the Osaka government and Melco announcing its intention to open a Yokohama office with a new executive in charge.
Monopoly in Malaysia. Monopoly in the five boroughs of New York. Duopoly in Singapore. Oligopoly in Manila. What is there not to like? Sure, Genting has had its fair share of misses, but they are easily forgiven in the light of the big scores on the board.
Las Vegas Sands sale of Sands Bethlehem in Pennsylvania at the end of May was partially related to the firm’s intention to refocus its energies on Asia, with the IR licensing bid in Japan a key objective, according to some analysts.
SJM Holdings Chair and Executive Director Daisy Ho gave the opening address at the G2E Asia gaming show on Tuesday, predicting a bright future for Macau as an integral part of China’s Greater Bay Area plan.
In an earnings conference call on Wednesday, Las Vegas Sands President and Chief Operating Officer Robert Goldstein spoke enthusiastically about his companies prospects and plans in Japan.
It has been revealed that Las Vegas Sands Chairman and CEO Sheldon Adelson is undergoing treatment for a form of blood cancer, throwing a dark shadow across his casino empire, including in Asia.
Strong visitation and overall growth in the Macau gaming market led to Sands China posting a 17% increase in profit in 2018, reaching US$1.9 billion. Sheldon Adelson, chairman and CEO of Sands China, said the company experienced growth in every segment in Macau.
Las Vegas Sands reported weaker-than-expected results for the fourth quarter of 2018, causing its stock to tumble. Net revenue in 201818Q4 rose 2.5 percent, reaching US$3.48 billion, which fell short of Wall Street estimates.
The US Justice Department’s unusual reversal of policy which may effectively ban online gambling follows millions of dollars in lobbying by Las Vegas Sands Chairman Sheldon Adelson.
Atlantic City, New Jersey, is beginning to look to Las Vegas and the “non-gaming revenue model” as the key to its future, according to a recent article in the Press of Atlantic City. This development has implications for the future of Japanese IRs as well.
Sands China, which operates The Venetian, Parisian and Sands Cotai Central IRs in Macau, posted 2018Q3 results that were in line with market expectations and expressed confidence in the long-term prospects for the gambling hub.
The selection of Ado Machida to front Hard Rock’s effort to win an IR license in Japan highlights a trend that was already clearly visible—some US operators are attempting to leverage in a not-too-subtle fashion the military and security links between Washington and Tokyo.
Although not a new story, a ProPublica article published this week about US President Donald Trump’s February 2017 advice to Prime Minister Shinzo Abe to select Las Vegas Sands for one of the Japanese casino licenses has ricocheted across both the international and Japanese-language news media, bringing the matter much more scrutiny than had previously been the case.
The evening tabloid Nikkan Gendai, a stalwart of train station kiosks with a daily circulation said to be in excess of 1.6 million, spelled out in a recent article the conspiracy theory regarding US President Donald Trump and the establishment of IRs in Japan that seems to have exercised a degree of influence over the national political debate.
Tetsuya Shiokawa, a seven-term House of Representatives lawmaker of the Japan Communist Party, has been arguing repeatedly that the Japanese government has changed the shape of the IR Implementation Bill to suit the preferences of powerful American businessmen—and he’s not pleased about it.