Positive pronouncements on Las Vegas Sands Corporation
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Sheldon Adelson died at the age of 87 on Monday night. He was the Chairman and Chief Executive Officer of Las Vegas Sands Corporation for over 30 years. The company is one of the biggest in the industry with annual revenues in excess of $13 billion.
Adelson died from complications linked to non-Hodgkin lymphoma. Rob Goldstein is temporarily in charge of the Las Vegas Sands Corporation.
The individual price of Las Vegas Sands Corporation's stocks remains almost unchanged at $56.63. The company runs two gambling-friendly properties in Las Las Nevada and a number of similar venues in Macau and Singapore.
Goldstein was appointed to serve as President of Las Vegas Sands Corporation in 2015. He joined the company 20 years ago and has fulfilled a number of senior leadership roles. Morgan Stanley gaming analyst Thomas Allen believes Goldstein will become the permanent leader. Chief Financial Officer Patrick Dumont could also be selected to fill this critical post. Dumon is married to Sivan Ochshorn, who is the daughter of Adelson’s second wife, Miriam Adelenski. Adelsen owns only 9% of the shares in Las Las Sands Corp.
Allen doesn't think Las Vegas Sands Corporation will undergo a ‘meaningful divestiture of stock’ and expects the company's quarterly dividends to be reinstated at below 2019 levels once its associated balance sheet begins showing signs of improvement.
Macquarie Securities gaming analyst Chad Beynon predicts Las Vegas Sands Corporation will focus on Asian markets. Beyoun expects Adelson to continue to push for land-based casinos in large markets in the United States.
Brendan Bussmann, Government Affairs Director for Las Vegas-based consulting enterprise Global Market Advisors, believes Las Vesey Sands Corporation will remain focused on Macau. Bussedmann believes Asia will continue to be the biggest growth opportunity for the company.
Las Vegas Sands Corporation is in talks about launching a sports betting business. This would be a shift for Adelson, who is opposed to all forms of iGaming.
David Katz from Jefferies believes Las Vegas Sands Corporation's management team is solid and stable. Katz also believes the company's operating profile is unquestionably strong.
