Sheldon Adelson Says Forget Vegas Think Asia For Growth Opportunities
There is never a dull moment when it comes to Sheldon Adelson and it is always entertaining to hear what he has to say. This week saw the annual shareholder’s meeting of the Las Vegas Sands Corp. where once again the Sands CEO dished out his pearls of wisdom to anyone willing to listen.
“Forget Las Vegas and think Asia”. So says Sheldon Sheldon who seems to be blooming both personally and professionally despite being 80 years old. After denying rumors that he planned to retire he even went on to joke that 80 was the new 60.
Business is booming in Macau and the Sands reported that income for the first quarter had risen 36 percent from the same period last year to reach $4 billion. The Sands are looking to expand their presence in Macau that generated over $45 billion last year with the addition of thousands more hotel rooms according to Adelson. As reported earlier they are also among the main players looking to invest in Japan who are debating legalizing gambling.
Growth in other areas of Asia is a key focus for Adelson’s vision and it is the driving force of their revenue growth. He went on to say,” They present the most promising and meaningful development opportunities in the world.” According to Adelson the growth of casino industry would have many benefits that included employment opportunities, foreign investment and boosting the tourist appeal.
Another issue which the fiery Adelson is passionate about is his much talked about campaign against internet gambling. He re-iterated his opposition to online gambling which he believes has not only moral and social risks but will also take away the jobs of many brick and mortar casinos. Last month he was quoted as saying he did not want mobile casinos on every kitchen table.