Sheldon Adelson and the Triumph of Las Vegas Sands
AIR DATE: February 28, 2012
At the height of the economic downturn shares in Las Vegas Sands dipped by as much as 80%. Through those tough times however Sands CEO, Sheldon Adelson resisted refinancing the company's debt and insisted Sands shares would rebound eventually. Adelson over the past few years has also invested heavily in his properties in Asia beating other American casino moguls were reluctant about entering the Asian market at first. Shares of Sands did eventually come back and the Asian market has since expanded greatly making Adelson a dominating force.
Forbes Reporter, Steven Bertoni'srecent cover story chronicles Adelson and Sand's rough ride through the recession and tells the history of how the poor kid from Boston now dominates the U.S. and Asian gaming markets. Bertoni joins us to tell the story.
This Anti-Government nonsense has grown as stale as a year old loaf of bread. We all saw what happened when the greedy and filthy rich were given their TRILLION DOLLAR TAX CUTS and allowed to do whatever they wanted to do from 2001-2009.
Here we are in 2012, and companies are reaping record profits, the stock market is back to highs not seen since 08, but "socialism and tax hikes" are threatening to destroy the country! NONSENSE.James –Feb 28, 2012 21:12:52 PM
Adelson is right: It's not worth investing in casinos in the US because the government will just raise taxes and no one will say anything. Ed UehlingEd Uehling –Feb 28, 2012 10:03:05 AM
Great story. Finally someone in the US who doesn't have an axe to grind is talking about Adelson. They listen in China and now the tiny city of Macau has $30,000,000,000 (that's Billion). Too bad that no one in Vegas listens: The city of Las Vegas, same size as Macau, but with 90 more years to accumulate its reserve has $70,000,000 with a mountain of debt. If Vegas had listened to Macau instead of the unions and no-nothing politicians, there never would have been a recession in Las Vegas and we would have a convention bureau that brings money to the city. Ed UehlingEd Uehling –Feb 28, 2012 09:53:52 AM