illionaire Las Vegas Sands chairman and chief executive Sheldon Adelson has a catchphrase he likes to say during his company’s quarterly earnings calls: “Yay, dividends!” However, Adelson hasn’t been able to use that favorite phrase since January, weeks before the Covid-19 pandemic brought his gaming and resort empire to a grinding halt.
At the Las Vegas Sands properties on the Strip, revenue declined 63% in the third quarter compared to a 92% decrease the quarter prior.Adelson has come a long way, from sleeping on the floor of a Boston tenement as a child to running a newspaper stand to starting the Comdex technology conference to becoming the biggest casino magnate in the world.
Since then, Adelson has continued to rake in enormous amounts of cash from Las Vegas Sands, of which he owns a majority stake. Like clockwork, he collected between $90 million and $260 million in dividends four times a year for eight years. Adelson also received a special dividend payment in December 2012 of $1.2 billion, before taxes.
they disclosed spending about $82 million. The Adelsons, who were not early supporters of Donald Trump, eventually ponied up $20 million toward the pro-Trump super-PAC Future45 in September and October 2016.
Because he understands whats at stake. If Biden wins the economy will suffer worse and his company will be worse off.
Tech Profiteering during a pandemic?
good
I can’t believe the right whines about George Soro’s money
Kindly follow me👏🏼 I would follow back asap💯
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Source: Forbes - 🏆 394. / 53 Read more »