HONG KONG (AP) -- Las Vegas Sands Corp., the U.S. gambling company controlled by billionaire Sheldon Adelson, is being sued for $375 million in a Macau court over the way it won a lucrative gaming license in the Asian casino hub.
A new shareholder lawsuit was filed today against the board of the Las Vegas Sands Corp., contending that mismanagement was the primary cause of the company's 2008 drop in stock price and that the economic recession merely exacerbated it.
Over the 15 year period studied, the best annual performance was turned in by Sheldon Adelson's Las Vegas Sands Corp., which rose 603% in the year beginning April 1, 2009, after falling 96% in the previous year.
As an example, assume you hold 100 shares of stock in Las Vegas Sands Corp. (NYSE: LVS), having happily watched as the market's rally carried its price from an Oct. 3, 2011, level of $36.71 to a March 1 high of $56.82.
In 2011, Sheldon Gary Adelson was listed in Forbes as the world's 16th wealthiest man with $21.5 billion in wealth. Sheldon Adelson is also CEO of the Las Vegas Sands Corporation, and despite making a fortune from running casinos, the 78 year-old says ...