{"id":13334,"date":"2021-01-13T22:45:37","date_gmt":"2021-01-13T22:45:37","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=13334"},"modified":"2026-04-23T22:43:10","modified_gmt":"2026-04-24T01:43:10","slug":"sands-china-remains-solid-after-adelsons-passing-away","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/sands-china-remains-solid-after-adelsons-passing-away","title":{"rendered":"Sands China remains solid after Adelson’s passing away"},"content":{"rendered":"\n

Analysts believe major changes are unlikely following to the founder\u2019s death since the transition had been well-anticipated and planned.<\/p>\n\n\n\n\n\n\n\n

Macau.- Las Vegas Sands\u2019 chairman and chief executive Sheldon Adelson passed away on Tuesday at the age of 87 but experts agree that the news will not have a major impact on the management or long-term strategy of Sands China.<\/p>\n\n\n\n

Sands China employees paid their respects to the company’s founder with a minute\u2019s silence on Wednesday while condolence messages were posted on electronic signage outside its Macau resorts.<\/p>\n\n\n\n

Analysts believe major changes at the company are unlikely since the transition has been well-anticipated and planned.<\/p>\n\n\n\n

David Green, principal at Newpage Consulting, told MNA: \u201cHe has had stable management in place for some years in all of the geographically diverse operations of the group.\u201d<\/p>\n\n\n\n

Analysts with Sanford C. Bernstein agreed: \u201cWe see company management well-positioned to maintain the broad strategy that has been in place. <\/p>\n\n\n\n

“With long-term Sands Executive, Rob Goldstein, who has been with the company since 1995 and became Acting CEO and Chairman of both LVS and Sands China last week, the company remains in solid hands.\u201d<\/p>\n\n\n\n

The casino tycoon had recently taken leave of absence to undergo cancer treatment for non-Hodgkin\u2019s lymphoma. <\/p>\n\n\n\n

COO Rob Goldstein stepped in<\/a><\/em><\/strong> as acting chairman and CEO. Chief financial officer, Grant Chum Kwan Lock, was also appointed as an executive director of Sands China.<\/p>\n\n\n\n

Sands China\u2019s future<\/h2>\n\n\n\n

No long before Adelson’s death the market was buzzing with rumours about the possibility that Sands might sell its Las Vegas Strip assets<\/a><\/em><\/strong> to focus on its Asian business in Macau and Singapore.<\/p>\n\n\n\n

After Adelson\u2019s death, his family retains control of nearly 57 per cent of Las Vegas Sans. Adelson’s wife, Dr. Miriam Adelson, was left in control of a large bulk of Las Vegas Sands\u2019 shares through several trusts.<\/p>\n\n\n\n

The chief financial officer of LVS, Adelson\u2019s son-in-law Patrick Dumont, is also expected to gain more influence in the gaming group\u2019s operations, Bernstein said.<\/p>\n\n\n\n

Ben Lee, managing partner at iGamiX told MNA: \u201cWhat will ultimately emerge will depend very much on whether Adelson\u2019s widow, Miriam, wants to take over the reins of the company. <\/p>\n\n\n\n

“There is a possibility that the time may be right to divest and most likely to China-linked interests, to preserve their chances of getting a new Macau concession.\u201d<\/p>\n\n\n\n

Sands China had reported an 82 per cent year-on-year drop in net revenues to US$586m, with US$731m in net losses. <\/p>\n\n\n\n

But in a statement made for the latest financial report, Adelson said he believed the recovery process in each of Sands\u2019 markets would continue and that the group had enough financial strength to support for its previously announced capital expenditure programs in both Macau and Singapore.<\/p>\n","protected":false},"excerpt":{"rendered":"

Analysts believe major changes are unlikely following to the founder\u2019s death since the transition had been well-anticipated and planned.<\/p>\n","protected":false},"author":2,"featured_media":13336,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Following the passing of Las Vegas Sands founder Sheldon Adelson, analysts anticipate minimal disruption to Sands China's management or long-term strategy due to well-established succession planning, with Rob Goldstein assuming acting leadership. However, the transition reignites speculation regarding potential divestment of Las Vegas Strip assets and the future of Macau concession renewals, particularly given the Adelson family's continued majority control.","focusai_entities":"Sheldon Adelson, Las Vegas Sands, Sands China, Rob Goldstein, Newpage Consulting, David Green, Sanford C. Bernstein, Grant Chum Kwan Lock, Dr. Miriam Adelson, Patrick Dumont, iGamiX, Ben Lee","focusai_location":"Macau, Las Vegas, Singapore, China","focusai_target_profile":"ceo_executive (0.95), regulator (0.75), operator_casino (0.9), investor_analyst (0.98), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Macau Concession Strategy","query":"How might the Adelson family's continued majority control and the new leadership influence Sands China's strategy for securing its Macau concession renewal, particularly regarding potential local partnerships or divestments?"},{"label":"Asset Divestment Impact","query":"What are the projected capital market implications and strategic rationale behind a potential divestment of Las Vegas Strip assets, and how would this re-allocate capital towards Asian gaming verticals?"}],"footnotes":""},"categories":[28,16338,158],"tags":[23907,21680],"class_list":["post-13334","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino-news","category-east-asia-news","category-slider-home","tag-land-based-casino","tag-sands-china"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/13334","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=13334"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/13334\/revisions"}],"predecessor-version":[{"id":13386,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/13334\/revisions\/13386"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/13336"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=13334"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=13334"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=13334"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}