Sheldon Adelson’s Last Roll of the Dice May Be His Boldest

(Bloomberg Opinion) — No one ever said that the casino industry didn’t involve risky bets. Sheldon Adelson, the billionaire founder of Las Vegas Sands Corp., is considering a $6 billion sale of the Nevada casinos that made his fortune, people familiar with the matter told Gillian Tan and Christopher Palmeri of Bloomberg News.That’s a gutsy move. The casino industry is in the grip of a record slump. Gaming revenues on the Las Vegas Strip were down 39% from a year earlier in August. In Macau, where Sands China Ltd.’s resorts accounted for 61% of its parent’s operating income last year, …read more

Source:: Yahoo Finance