This week earnings call was the first one to include Las Vegas Sands founder, Chairman, and CEO Sheldon Adelson. The 86-year-old businessman last took part in an investor call in October 2018. Earlier this year, the company announced that its boss was receiving treatment for non-Hodgkin’s lymphoma.
Adelson said in his company’s third-quarter earnings presentation that they are “aggressively pursing additional development opportunities in new markets, including Japan.”
“I think US$10 billion is the starting point,” stated President and Chief Operating Officer Robert Goldstein, “And I don’t think anybody’s going to do for less than US$10 billion, unless you’re going to do something sub par.”
“You know we have the balance sheet and the capability and the skill set to do it. The question is, can we get a return that?” he added. Asked about Sands’ shift away from Osaka, Goldstein stated: “We just thought Yokohama was just a better fit for our skill set.”
Las Vegas Sands’ July-September 2019 financial results were largely in line with analysts’ expectations, including consolidated net revenue of US$3.25 billion and net income of US$669 million for the quarter.
Source: GMB / AGBrief
