Las Vegas Sands stock plummets!

Las Vegas Sands stocks has fallen 29% today on worries about Sands capital under Sheldon Adelson.

Adelson’s family has put into Sands reportedly “$475 million … to strengthen its capital this month and help prevent it from tripping a U.S. loan covenant.”

Tripping? That’s not good news.

But Sands stocks have lost 94% of their value this year!

The Sands owns the Venetian and Palazzo in Las Vegas and are building a $12 billion complex in Macau, China, $4 billion Marina Bay Sands in Singapore and $800 million Sands Bethworks in Bethlehem, Pennsylvania.

Analysts interviewed by Bloomberg are not impressed.

The stock has shown what the market thinks. Sands is now at a mere $6.63 today. That leaves Wynn Resorts the biggest followed by MGM Mirage.

Adelson reportedly has suggested he may step down.

Comments are closed.