Sheldon Adelson (Getty images Israel)
The heirs of Sheldon Adelson, who recently passed away at the age of 87, decided to get rid of his legacy and sell the activity that was his major source of capital in Las Vegas. The heirs decided to sell the casinos in Vegas for $ 6.25 billion.
Las Vegas Sundance, Adelson’s company, will continue to operate casinos in Asia and especially Macau and Singapore and will effectively wipe out operations in Vegas that will continue to be operated by purchasers of the Apollo Foundation and real estate company VICI.
The division among the buyers will be that the Apollo Fund will purchase the casino operations that were fatally damaged in the Corona crisis and VICI will purchase the expensive real estate on which the casinos sit.
Las Vegas Sundance like the rest of the pleasure houses around the world have suffered in the past year from the corona crisis that has forced on the world a policy of social exclusion. Adelson did not overdevelop the online casino business and remained exposed to the physical casinos that were severely damaged in the recent crisis.
Comments on the article(0):
Your response has been received and will be published subject to system policies.
Thanks.
For a new response
Your response was not sent due to a communication problem, please try again.
Return to comment