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Sands Shareholders Lovin’ Their Macau

LAS VEGAS (AP) — Officials with high-flying Las Vegas Sands raved about last year’s financial results and were giddy about potential expansion in Asia during an annual stockholder meeting.

CEO Sheldon Adelson said Sands is on track to add thousands of hotel rooms in the lucrative Chinese gambling enclave of Macau, including at its French-themed Parisian casino slated to open in 2015.

Sands hopes to expand into Japan if that country’s parliament authorizes casino gambling, and is also eyeing South Korea.

Adelson said the company is enlisting a search firm to find a replacement for 76-year-old president Michael Leven, who plans to retire at the end of the year.

But 80-year-old Adelson told investors he has no plans to step aside on account of his age, and quipped that “80 is the new 60.”

 

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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