LVS Continues to Push for Legal Casinos in Texas

Texas State Flag

Texas is known for its hardline stance towards the gambling industry. Lawmakers here have worked hard to ban virtually all traditional forms of gambling in the state. That could soon change, though. Las Vegas Sands is working hard to finally allow legal casinos in Texas.

Many are excited to see Texas make this change. There are still a huge number of questions that surround this entire situation, though. Today, we’ll talk about what LVS has planned in the Lone Star State.

Here’s what we know about this situation!

The Past Ten Months Have Been Tough for Las Vegas Sands

Most gambling fans have heard of Las Vegas Sands before. This company was founded decades ago by Sheldon Adelson. It has since grown into one of the most powerful gambling companies in the world.

Prior to 2020, this company was doing fantastic. LVS owns and operates casinos around the world. It’s major casino-resorts in Las Vegas and Macau were bringing in an incredible amount of money every single month. Then, in March of last year, all of the casinos around the US were ordered to shut down.

Places like Las Vegas saw their revenue figures immediately plummet. Casinos here remained closed for months and no one could accurately say when things would turn around. Finally, in June, the casinos in Las Vegas began to open back up.

Unfortunately, casino revenue from Las Vegas and Macau has been extremely low over the past twelve months. As a result, Las Vegas Sands began closing their biggest venues for certain times of the week. Company officials even claim they are interested in selling some of their biggest casino-resorts entirely.

To make things worse, CEO Sheldon Adelson passed away earlier this year. It was a huge blow for Las Vegas Sands and only intensified what has already been a difficult time. LVS is still pushing hard for recovery and has some big plans for the future.

That includes a break into Texas. This state is known for its tough gambling laws, yet LVS seems to feel it can make a change here.

Will We See Legal Casinos in Texas in the Next Few Years?

Despite the complications they’ve faced, US casino companies continue looking to expand. We’ve seen a large number of major casino deals take place over the past few months. Many of these companies are working hard to break into developing casino destinations.

That is certainly the case with Las Vegas Sands. This company has been doing everything it can to increase revenue right now. Lately, officials within LVS have been pushing hard to allow commercial casinos in the state of Texas.

Lawmakers in Texas haven’t embraced this idea. Here, not even tribal casinos are able to legally operate. Residents in this state often flock to nearby Oklahoma to play at the state’s many world-class casinos.

Las Vegas Sands is now arguing that legalizing casinos will help to keep money in the state of Texas. It should also help to bring in more visitors from around the country. Governor Greg Abboud now claims it should be up to state voters on whether or not to allow casinos.

“All that will happen in the Legislature this next session is for the state Legislature to put it on the ballot and to let voters decide,” Abboud said. “And then business leaders and community groups and the policymakers need to get involved in the process and make sure that this is done the right way.”

Anti-gambling groups are already pushing against the idea of legal casinos in Texas. There are some that feel it will result in an increase in crime and other societal issues. The state needs money right now, however, and casinos could be an effective way to generate revenue.

It’s an interesting time for the country’s gambling industry. We’ll offer more information on this situation over the next few months!

US Casino Revenue is Still Dropping Quickly

The events in 2020 had a devastating impact on the US casino industry. Never before have casinos around the country been forced to close down. Even today, this industry has a long way to go before it gets back to the revenue seen in 2019.

There was a time when it seemed as if US casino companies were bouncing back in a big way. Travel restrictions began to loosen during the summer months and more visitors started heading to casino hubs such as Las Vegas. As the colder winter months approached, however, this trend came to a complete halt.

We’re still beginning to see the effects that 2020’s fourth quarter had on casino companies. Over October, November, and December, Las Vegas Sands saw an incredible 67% drop in revenue. It’s a larger dip than many analysts predicted.

This company managed to bring in just $1.15 billion over Q4 of 2020. That’s down considerably from the $3.51 billion seen in 2019. It goes to show how difficult the times are even for the largest gaming operators in the country.

Other casino companies including Wynn Resorts and MGM Resorts are also seeing massive revenue drops. It’s unclear when exactly this trend will change. Perhaps Texas could help to turn things around for these companies. We’ll be sure to offer updates over the next couple of months.

Do you think we’ll see legal casinos in Texas anytime soon? Let us know in the comments section below.

Sheldon Adelson’s Death Hits the Struggling Casino Industry Hard

Sheldon Adelson

Casino companies around the United States are still struggling to bring in players right now. It’s been a dark time for many of these companies with no clear end in sight. One of the men responsible for helping this industry growth has just passed away. Today, we’re going to discuss the details of Sheldon Adelson’s death.

Many knew that the Las Vegas Sands CEO was in poor health. It wasn’t entirely clear how serious his situation was, though. His death will have a lasting impact on LVS over the next few decades.

Here’s what we know about this situation.

Looking Back at Sheldon’s Adelson’s History in the Casino Business

The US casino industry has grown considerably over the past few decades. Many credit Sheldon Adelson for being one of the key figures in growing casinos around the country. His time in the gambling industry dates back to the 1980s.

First, Sheldon purchased the Sands Hotel and Casino in Las Vegas for a mere $110 million. He then took his experience in the convention industry and purchased the Sands Expo and Convention Center. This was the only privately-owned convention center in the country.

Just a few years later, Adelson decided to open his first mega-resort with The Venetian on the Las Vegas Strip. Over the next few decades, he continued to open massive casino-resorts around the world. He eventually grew his fortune to more than $35 billion.

Adelson has served as the CEO of Las Vegas Sands for decades. His decisions helped the company grow bigger than anyone expected. Last week, news broke that he was stepping down as CEO of the company to focus on cancer treatment.

It was surprising news to hear. No one seemed to know how serious Adelson’s health issues truly were. It was confirmed he was suffering from Non-Hodgkin’s Lymphoma. It now seems that his case was more severe than many initially thought.

Adelson was a major player in the casino industry. He certainly had some detractors, yet there’s no doubt he played a huge role in helping the country’s casino industry grow.

Sheldon Adelson’s Death Has Been Confirmed

Hearing that Sheldon Adelson was stepping down as CEO of Las Vegas Sands spread fast. There were obvious concerns for the gaming mogul. As we just mentioned, however, no one really knew how serious his condition was.

It’s now clear that Adelson was struggling immensely. Numerous reports have confirmed that he has passed away at the age of 87. It’s also been confirmed that his death came from his battle with Non-Hodgkin’s Lymphoma.

The casino mogul was well-known for his major donations to the Republican Party. He spent millions helping with Donald Trump’s campaign in 2016. Trump released a statement offering condolences to the LVS CEO shortly after his death was announced.

“His ingenuity, genius, and creativity earned him immense wealth, but his character and philanthropic generosity his great name,” the statement said. “Sheldon was true to his family, his country, and all those that knew him. The world has lost a great man. He will be missed.”

Sheldon Adelson’s death is sending shockwaves through the casino industry. It comes at an extremely difficult time for Las Vegas Sands. The company will now move forward with Robert Goldstein serving as CEO.

Las Vegas Sands, like all other US casino companies, has a difficult year ahead. There are many now wondering what steps the company will take to increase revenue.

What is Next for Las Vegas Sands?

The past ten months have been extremely difficult for Las Vegas Sands. 2020 wasn’t the only tough year for this company, though. Over the past two decades, LVS has gone through several rough patches. In 2009, Sheldon Adelson saw his net worth drop to just $2 billion due to the company’s struggles.

This is now a different situation than LVS has ever faced before. Sheldon was well-known for being the primary decision-maker in the company. There will likely be a feeling out process while the company adjusts to his permanent departure.

Sheldon Adelson’s death also means that Las Vegas Sands will need to make a decision on the proposed casino sales brought up last year. This company made headlines by announcing it was interested in selling both The Venetian and The Palazzo. These two venues have been major revenue-earners for LVS in the past.

The situation in Macau is also a serious talking point. Las Vegas Sands owns and operates several casino-resorts in the Chinese territory. Unfortunately, Macau has seen extremely low tourism figures and revenue has plummeted. It wouldn’t be a shock to see some of the casinos here sold soon, too.

All major US casino companies are struggling right now. Hopefully, effective vaccine distribution helps casino destinations recover as the year goes on. We’ll continue offering more updates on the situation with Las Vegas Sands over the next few months.

Are you surprised to hear about Sheldon Adelson’s death? How do you think this will impact Las Vegas Sands? Let us know in the comments section below!

Sheldon Adelson’s Health Forces Leave of Absence From LVS

Sheldon Adelson

Las Vegas Sands has been dealing with a variety of serious issues over the past year. To make things worse, the company’s founder and CEO is now in poor health. New reports indicate that Sheldon Adelson’s health problems have forced him to take a leave of absence from Las Vegas Sands.

There’s a lot happening with major Las Vegas casino companies right now. Today, we’ll talk about Adelson’s departure from LVS. We’ll also discuss some of the other plans that Las Vegas Sands has for the future.

Let’s get into it!

Las Vegas Sands Continues to Hint at Major Casino Sales

The city of Las Vegas is still struggling to bring in tourists. As a result, the casino companies here are seeing significantly lower revenue figures than they did in 2019. It’s a difficult situation that some feel will take years to fix.

Casino companies around the country have seen major drops in their monthly revenue figures. That includes Las Vegas Sands. As a result of these revenue drops, company officials have hinted towards selling some of their biggest venues in Las Vegas. That includes The Venetian and The Palazzo.

This announcement was surprising to hear. These two casino-resorts are some of the biggest and best in Las Vegas. Prior to 2020, these venues helped to bring Las Vegas Sands a huge amount of revenue every month.

It now seems this company no longer sees these venues as viable properties. There have been several other casino operators that expressed interest in taking control of these venues. As of now, Hard Rock International seems to be the most likely candidate.

Las Vegas Sands is clearly in a difficult situation. Unfortunately, CEO Sheldon Adelson is also dealing with serious health issues. These are now serious enough to force him out of his position as the leader of this company.

Adelson has been one of the most powerful men in the casino industry for years. We’re now beginning to hear more about the health problems that forced him away from the company.

Here’s What We Know About Sheldon Adelson’s Health Issues

Sheldon Adelson has been in the casino industry for decades. In recent years, reports began to circulate that he was dealing with serious health complications. He’s now 87 years old and some have questioned how long he would remain the leader of Las Vegas Sands.

This week, reports came out that shed more light on Sheldon Adelson’s health issues. It’s been confirmed that the CEO is now taking a leave of absence to undergo treatment for cancer. He “recently decided” to resume treatment for non-Hodgkin’s lymphoma.

Many knew that Sheldon was dealing with cancer. It wasn’t entirely clear how severe his case was, though. It’s now clear that things are serious enough to remove him from his position as the CEO of Las Vegas Sands.

Robert Goldstein will now take over as CEO of the company. He takes this position in one of the most difficult times in the company’s history. He and other officials will now need to further discuss the possibility of selling major Las Vegas properties.

Adelson is still optimistic about the future. Despite the difficulties, he feels that Las Vegas Sands will recover from the situation it finds itself in.

“Our properties in Las Vegas may be empty right now, but our hearts are full of hope for the future,” he said in a public statement late last year. 

Hope is that Adelson recovers soon. He played a big part in expanding the Las Vegas casino industry. We’ll continue offering updates on this situation over the next couple of months.

How Are Other Casino Companies Faring Right Now?

Las Vegas Sands is far from being the only company seeing its revenue figures drop. As we mentioned earlier, this is an issue that is affecting just about every major casino operator around the United States. Most analysts agree this is the hardest time in the history of the US casino industry.

Wynn Resorts has been seeing big dips in its revenue lately. Las Vegas isn’t entirely to blame for these issues. Wynn Resorts’ casinos in Massachusetts and Macau have also been losing money for the past ten months.

The Encore Boston Harbor was hugely successful in Massachusetts not long after opening. Beginning in March, however, this casino began to see massive revenue declines. There is now a fear that all of the casinos in Massachusetts could close down again in the near future.

MGM Resorts has also been experiencing huge drops in revenue. All of the company’s casinos in Las Vegas have been suffering lately. MGM Springfield in Massachusetts is hurting, too. This company recently had its worst-ever month since opening to the public.

The country’s land-based casino industry is hurting right now. Sheldon Adelson’s health issues are likely to take a toll on Las Vegas Sands. Hopefully, we begin to see things improve over the next couple of months.

Are you surprised to hear about Sheldon Adelson? How do you think this will impact Las Vegas Sands? Let us know in the comments section below!

Sheldon Adelson Wants to Bring Casinos to Texas in the Future

Sheldon Adelson

Texas is well-known for having some of the strictest gambling laws in the country. Very few forms of gambling are currently allowed here. Sheldon Adelson wants that to change. New reports claim the Las Vegas casino mogul is pushing hard to bring casinos to Texas in the future.

It’s great news for gambling fans in the Lone Star State. For years, Texans have been forced to visit neighboring states in order to play inside a casino. Now is the perfect time to talk about how Adelson could change this.

Let’s get into it!

Las Vegas Sands Mulls Major Casino Sales

Casino companies across the United States have seen massive revenue plummets throughout the year. That includes the biggest ones based in Las Vegas. Things have gotten progressively worse as the colder months began to approach.

Tourism into Las Vegas remains extremely low right now. As a result, many of the casinos in this city have been forced to temporarily shut down during certain days of the week. That includes The Palazzo, one of Las Vegas’ most popular venues.

The Palazzo is operated by Las Vegas Sands. The Sheldon Adelson-run company has been seeing particularly large drops in revenue from its venues in Las Vegas and Macau. Company officials have now been forced to consider drastic measures.

News recently surfaced that officials within LVS were considering selling several of their US casino-resorts. This is seen as an effective way to generate some much-needed revenue. Several analysts predicted that many companies would be interested in taking control of the sold venues.

Nothing has been made official yet. For now, Las Vegas Sands remains focused on cutting down on costs in other ways. We’ll need to wait and see if a major Las Vegas property sale is necessary sometime in early 2021.

Sheldon Adelson still has big plans for the future. News is coming out that he wants to bring major casinos to the state of Texas.

Looking at Sheldon Adelson’s Plans to Bring Casinos to Texas

Texas is one of the few states with laws that completely ban land-based casinos. It’s unusual, as most believe this could help to bring the state a massive amount of revenue every single month. Lawmakers, unfortunately, have been very reluctant to embrace the gambling industry in any way.

Las Vegas Sands CEO Sheldon Adelson wants to see this change. Reports claim that he has some major lobbying efforts planned for 2021. If he has his way, Texas will soon begin allowing major casino-resorts like the ones seen on the Las Vegas Strip.

Andy Abboud, Las Vegas Sands’ top lobbyist, claims Texas is one of the company’s primary focuses right now for expansion.

“We view Texas as a worldwide destination and one of the top potential markets in the entire world,” Abboud said. “Texas is considered the biggest plum still waiting to be out there in the history of hospitality and gaming. They [casinos] are job creators, they hire a lot of additional employees, they have tremendous purchasing power. But they are also tremendous generators of tax revenue.”

It’s hard to argue against that. Many states have recently chosen to allow land-based casino gambling. Most of these states have seen large increases in tax revenue as a result. Texas would be no different.

For now, most gambling fans make the trip to Oklahoma in order to play inside casinos. If Sheldon Adelson manages to bring casinos to Texas in the future, he could help to keep money in the state. We’ll continue offering updates on this situation over the next few months!

Online Casino Gambling Options Available in Texas Right Now

It’s been frustrating for many residents in Texas to see land-based casino legalization efforts fail. The state has a largely anti-gambling stance and it will take some major lobbying efforts to change this. That doesn’t mean it’s impossible to play casino games here, though.

Today, there are a huge number of fantastic online casinos in Texas. Most of these sites are safe and offer a massive range of games to their members. The popularity of these websites has exploded in recent months.

Bovada is one of the most-used casino websites in TX right now. It launched in 2011 and has grown to become one of the most trusted gaming platforms in the country. Bovada provides its members with slots, table games, and even live dealer games that make it feel as if you are playing inside of an actual casino!

Soon, Texas may choose to regulate and tax these websites. That is not the case right now, though. All of the internet casino gaming platforms in the state are based in other countries and do not offer the state any tax revenue.

Sheldon Adelson wants to take things even further. He’s hoping to get casinos in Texas in the future. Adelson is one of the most powerful figures in the gambling industry and has a real shot at finally getting Texas to change its ways.

Do you think Texas will eventually begin allowing online casinos? When do you expect this to happen? Let us know in the comments section below!

Las Vegas Sands is No Longer Interested in Japan

Las Vegas Sands is one of the biggest and most successful casino companies in the United States. For years, this company has discussed opening a new casino-resort in Japan. Interestingly, news is now coming out that this company is giving up its plans to break into the Japanese market.Las Vegas Sands Logo

It’s not entirely surprising. It will be very tough for any major casino company to invest billions into a new property right now. Today, we’re going to discuss the reasons that Las Vegas Sands is now choosing to stay out of Japan.

Let’s get into it!

Officials Within LVS Continue Looking at Plans to Reopen Las Vegas Casinos

The past two months have been the hardest-ever for Las Vegas casino companies. All of the companies with casino-resorts in this city have seen their revenue plummet after being forced to shut down. Incredibly, it’s still unclear when exactly casinos in Las Vegas will be able to open their doors again.

That isn’t stopping casino companies from coming up with plans to reopen their casinos. Las Vegas Sands has been one of the most active companies working to reopen its gaming venues. Company officials have proposed many measures to safely allow guests in again.

Fortunately, things are improving. Last week, the Nevada Gaming Commission approved a set of guidelines for reopening casinos. This government body wants to ensure that casino companies are taking the necessary steps to protect their employees and patrons.

Company officials at LVS already have several safety measures planned. That includes multiple Covid-19 tests for its employees. As most already know, this company owns and operates the Venetian and Palazzo Hotel-Casinos. LVS plans on doing multiple tests for its employees before the casinos reopen.

If all goes according to plan, things will start getting back on track sometime in June. Until that time, however, companies like Las Vegas Sands will continue to lose a huge amount of revenue every single day. News is now coming out that this company is giving up its plans to break into Japan.

Las Vegas Sands Announces it’s Giving Up Casino Plans in Japan

For many years, Japan had some of the strictest gambling laws in the world. The government here worked to ban virtually all forms of traditional gambling. To the surprise of many, things changed in 2018 when lawmakers here decided to legalize casinos.

Under the set of laws, three casino-resorts will be given permission to open in this country. Many analysts predict that Japan will quickly grow to become one of the most lucrative casino markets in the entire world. As a result, many of the top casino companies in the United States have been pushing to obtain a casino license here.

That includes Las Vegas Sands. Initially, this company announced it wanted to open an integrated resort in the city of Osaka. Later, it abandoned these plans and claimed it was focused on opening a gambling venue in Tokyo.

Now, it seems this company is giving up its plans to break into the Japanese market. According to a report by Bloomberg, the fact that casino licenses would only be good for 10 years was a major factor in this decision. LVS CEO Sheldon Adelson released a statement on this situation to the media this week.

“We are grateful for all of the friendships we have formed and the strong relationships we have in Japan, but it is time for our company to focus our energy on other opportunities,” Adelson said. 

Many believe the situation at home in Las Vegas is also playing a major factor in this decision. It would cost an incredible amount of revenue to open a Japanese casino-resort and at the moment, all US casino companies are bleeding money.

Which Major Casino in Las Vegas Will Open First?

In some ways, casino companies in Las Vegas have been in a race to reopen. All of the companies here have been working with city and state officials on ways to safely resume operations. With guidelines now approved, many feel we’re just a few weeks away from seeing the Las Vegas Strip reopen.

It’s still unclear which of these casino-resorts will be the first to reopen. Not long ago, we reported that some of MGM Resorts’ properties including the New York-New York Hotel & Casino and The Bellagio might be the first to open again. Some now feel that the casinos owned by Las Vegas Sands will be the first to start accepting guests again.

As we mentioned earlier, this company already has a number of safety measures set in place. Guests and employees will be required to wear masks. Thermal cameras may also be installed to identify those with fevers.

Some feel Wynn Resorts will be the first casino company to get things back on track. Not long ago, news broke that this company saw its revenue decline by 42% for the first three months of the year. Officials are doing everything they can to change that trend for 2020’s second quarter.

The truth is that no one knows when Las Vegas will start getting back to normal. Things are constantly changing and Governor Steve Sisolak may decide to extend the state’s current measures. It’s an incredibly tough situation.

We’ll need to wait for more news on Las Vegas’ casino plans. Stay tuned for updates!

Las Vegas Sands Stock Prices Are Fluctuating Right Now

Today, Las Vegas Sands is one of the biggest and most profitable casino companies in the world. It operates major casino-resorts around the world and continues to expand into new territories. In recent weeks, Las Vegas Sands stock prices have begun to fluctuate.Las Vegas Sands Logo

There are several reasons why this is. Today, we’re going to discuss the company’s current share prices and look at how they might change over the next few months.

Let’s get into it!

2019 Was an Interesting Year for Las Vegas Sands

Few major casino operators are as well-known as Las Vegas Sands. The company was founded back in 1988 by Sheldon Adelson, who has remained CEO ever since. Over the past few decades, this company built massive casino-resorts all over the US and abroad.

2019 proved to be a very interesting year for LVS. Gambling revenue rose and fell. In the year’s second quarter, revenue appeared to be soaring. In the third quarter, revenue earnings came in slightly lower than expected.

LVS ended the year strong financially, yet the company was forced to deal with several nagging issues. This includes a lawsuit against the aforementioned Sheldon Adelson. One of Las Vegas’ local newspapers filed a lawsuit against the CEO for attempting to monopolize the city’s news industry.

Las Vegas Sands continued to invest heavily in its overseas companies last year. This is especially true in Macau. More than $2 billion is being spent on upgrades to the properties here including the Venetian Macau, and Sands Macau.

Some felt this was a risky move. Macau’s gambling revenue has been declining due to the drop in China’s economy. Recently, Las Vegas Sands stock prices have been fluctuating and analysts are beginning to pinpoint why.

Las Vegas Sands Stock Prices Dropped This Week

Officials within LVS have been celebrating for the past few months. Since November, the company’s share prices have risen by an incredible 15%. Most of this is due to the Chinese government’s plan to diversify Macau into a major financial hub.

That’s not the only major accomplishment for the Las Vegas-based casino operator. Just last week, LVS earned a spot on the “world’s most admired companies” list for its efforts to fight against climate change. It seemed like everything was going right thus far into 2020.

This week, however, Las Vegas Sands stock prices have taken a slight hit. This is largely due to fears of the coronavirus affecting the company’s operations in Macau.

For weeks, China has been working to contain a deadly new virus known as 2019-nCoV. It originated in Wuhan and quickly spread throughout the country. There have even been recorded cases in Thailand, Japan, and the United States.

The concerns over this virus have taken a toll on LVS’ share prices. On Tuesday, the company’s stock fell 4.3% to $70.85.

This isn’t the only company that’s taken a hit due to the coronavirus.

Wynn Resorts also experienced a drop in its stock prices. Until the outbreak is contained, this trend is likely to continue.

Las Vegas Sands Continues to Push for Tokyo Casino

Las Vegas Sands, like almost all other major US casino companies, has been pushing hard to break into the newly-emerging Japanese casino market. Over the next few years, three companies will be handed out a license to operate casino-resorts in this country.

Based on several reports, Japan will grow to have one of the largest casino markets in the world. Each of these casino-resorts here will cost billions of dollars to construct.

For a time, officials within Las Vegas Sands announced they were interested in opening one of these venues in the city of Osaka. That is no longer the case. The company now claims that it is focused on opening an integrated resort in Tokyo. Many analysts believe that LVS will be one of the three companies the Japanese government chooses to grant a gaming license to.

Las Vegas Sands stock prices have temporarily dropped. Hopefully, this won’t last long. We’ll need to wait and see exactly how the virus in China affects Macau’s economy.

Stay tuned for more Las Vegas Sands news over the next few months!

Las Vegas Sands Revenue Reports Are Revealed

One of the biggest and most profitable casino companies in the world has just released it’s Q3 financial reports. Interestingly, the Las Vegas Sands revenue came in slightly lower than anticipated. It’s a disappointing blow for this company, which is currently working to expand its presence overseas.

Las Vegas Sands Logo

Today, we’re going to look at exactly how much money this company managed to bring in over 2019’s third quarter. We’ll also look at some of the things LVS has planned over the next few years. Let’s get into it!

2019 Proves to Be an Interesting Year for Las Vegas Sands

As we’ve already mentioned, Las Vegas Sands is one of the biggest and most lucrative casino companies in the world. It’s had an interesting 2019, with fluctuating revenue earnings and continued expansion in Asia. Fortunately, the company’s quarter two financial reports came out solid.

In quarter two, LVS revenue jumped by more than 15% when compared to the same month in 2018. The company recorded a net income of $1.108 billion and had a stock share price of $1.24. Rob Goldstein, CEO of the company, claimed it was the best quarter in LVS’ history.

Officials within Las Vegas Sands have made it clear that they are continuing to invest abroad. Macau, in particular, is a major investment point for this company. LVS is continuing to invest more than $2 billion into its operations in Macau.

To some, this is a cause for concern. Macau has struggled to generate revenue for almost all of 2019. The US-Chinese trade war and protests in Hong Kong have lessened the number of gamblers visiting this city. Las Vegas Sands isn’t deterred, however, and continues to pump money into its resorts here.

Unfortunately, things haven’t gone quite as smoothly over the past three months for this company.

Las Vegas Sands Revenue Reports for Q3 Are Finally Out

LVS has officially come out with its earnings report. According to company officials, it saw $3.25 billion in revenue during quarter three. Operating income fell to $899 million for a decrease of 2.5% compared to quarter 3 of 2018. Net income fell by 6.6% to just $533 million.

When comparing these figures to the year’s second quarter, the results look abysmal. Of course, it’s important to note that Q2’s earnings were significantly boosted by the sale of Sands Bethlehem. This sale provided the company with $138 million.

Sands China’s revenue dropped by 2% to $2.08 billion. Most of the decline is attributed to the Sands Cotai Central, where revenue fell by 9.3%. This popular hotel-casino is currently being converted into The Londoner.

Sheldon Adelson, the founder of Las Vegas Sands, managed to make an appearance during the company’s revenue call. The casino mogul is unfortunately battling non-Hodgkin’s Lymphoma and barely spoke. He did claim to be happy about the company’s increased shareholder dividends.

The decline in Las Vegas Sands revenue earnings isn’t too concerning. This company remains one of the most powerful casino operators in the world.

LVS Continues to Push Into the Japanese Market

Last year, Japan officially approved plans to legalize casino gambling. Over the past year and a half, lawmakers here have worked on ways to get this new industry up and running. Soon, the government will begin offering licenses to different casino companies.

Only three of these casino licenses will be handed out. Las Vegas Sands is making it clear that they want to make it into this country. Not long ago, officials at LVS claimed that they want to open a casino-resort in either Osaka or Yokohama.

Las Vegas Sands revenue figures from Q3 aren’t having an impact on these plans. Most analysts believe that Japan will become one of the most lucrative casino markets in the world. If LVS is able to break into the Japanese market, it will likely experience massive revenue gains.

Of course, competition is high. Many of the biggest US casino companies are also attempting to obtain a Japanese casino license. We’ll need to wait and see which ones are chosen by Japan’s soon-to-be-established casino regulator.

Make sure to stay tuned for more Las Vegas casino news over the next few weeks!

Sheldon Adelson is Being Sued by the Las Vegas Sun

One of the most powerful men in Las Vegas is in hot water with a local newspaper. According to several reports, Sheldon Adelson is being sued by the Las Vegas Sun. The popular newspaper claims the casino mogul is attempting to “monopolize” the Las Vegas news industry.

Sheldon Adelson

Today, we’re going to look at why exactly the Las Vegas Sun is taking legal action against Adelson. We’ll also talk about the newspaper’s decision to sue the Las Vegas Review-Journal, as well. Let’s get into it!

The Las Vegas Sun and LVRJ’s Recent Quarrel, Explained

Las Vegas is home to two main newspaper companies, the Las Vegas Sun and the Las Vegas Review-Journal. These two companies are fierce competitors, yet since 1989, they’ve been bound by an official Joint Operating Agreement (JOP) that allows them to “combine production, marketing, distribution, and sales, provided they remained competitive and editorially independent of one another.” Unfortunately, the LVRJ seems to have backed out of this agreement.

The Las Vegas Sun is now taking legal action against the Review-Journal. This company claims that by backing out of the JOP, the Las Vegas Review-Journal is making it impossible for the Sun to stay afloat. According to the Las Vegas Sun, this is all a part of Sheldon Adelson’s plan.

Back in 2015, Adelson anonymously purchased the LVRJ. It wasn’t until reporters within the company underwent their own investigation that Adelson’s ownership was revealed. All of the journalists working on this report eventually left the company.

The Las Vegas Sun believes that Adelson’s goal is to control the flow of information within Las Vegas. The company is now officially suing the LVRJ for backing out of its JOP. They’re also suing Adelson, who they claim is unlawfully monopolizing the city’s news industry.

Sheldon Adelson is Being Sued By the Las Vegas Sun

Sheldon Adelson is one of the most powerful men in the gambling industry. The 86 year old casino mogul is the CEO of Las Vegas Sands. His company owns and operates many different casinos around the world, including several in Las Vegas and Macau.

Adelson’s purchase of the Las Vegas Review-Journal was criticized by many. The Las Vegas Sun, in particular, feel that his ownership of this newspaper violates the first amendment. In the recent lawsuit, the Sun gives its opinion on Adelson’s ultimate goal.

“Defendant Sheldon Adelson has been a long-time enemy of the First Amendment and the press,” the lawsuit claims. “For decades, he has filed and prosecuted one frivolous and ultimately unsuccessful defamation case after another. His object has always been clear: chill free speech and silence those that would speak out against him.” 

That’s a major statement to make. Officials at the Review-Journal believes this new lawsuit is only being made because of the company’s decision to remove itself from the 1989 JOP. Benjamin Lipman, vice president of the LVRJ, claims that the company intends to “fight the case and we’re confident we will succeed…”

Sheldon Adelson Continues to Push into Japan

Sheldon Adelson is being sued by the Las Vegas Sun, yet it’s unlikely to have much of an impact on his company’s day to day operations. For months, Las Vegas Sands has been working hard to break into the newly emerging Japanese casino market. Last year, officials in Japan passed a bill to allow three casino-resorts in the country.

Nearly all of the top US casino companies are now working to obtain a license to operate one of these Japanese casinos. Many gambling analysts predict Japan will be one of the most lucrative casino markets in the world. Las Vegas Sands has recently claimed that it’s interested in opening in a casino-resort in either Tokyo or Yokohama.

The company is also continuing to invest in its Macau properties, which have been losing revenue for the majority of 2019. China’s trade war with the US has hurt Macau’s economy and many gambling operators in the territory are experiencing monetary losses. Las Vegas Sands isn’t deterred and continues to put billions of dollars into its Macau casino-resorts.

We’ll need to see how this new legal battle plays out. As we’ve already mentioned, many believe that Sheldon Adelson is being sued for his attempts to monopolize the Las Vegas news industry. If the Las Vegas Sun can successfully argue this in court, we may him forced to give up ownership of the Review-Journal.

Make sure to stay tuned for more Las Vegas news over the next few months!