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Sheldon Adelson Takes Sick Leave for Cancer Treatment| Marked Cards

2021-01-13
Sheldon Adelson has taken sick leave to receive cancer treatment from Sands, the parent company of the Venetian Resort and Casino in Las Vegas.
 
Sheldon Adelson was diagnosed with non-Hodgkin's lymphoma last year, but still serves as the CEO of LV Sands, which he founded in 1988. The billionaire is the top tycoon of the Republican Party. He donated to President Trump's campaign in 2016, and then donated to his re-election efforts in 2020.
 
He is also the leading opponent of the legalization of off-site poker in the United States. The casino tycoon has been fighting for many years at the federal level to prohibit all forms of online gambling. His efforts have achieved some success. Although he did not achieve the goal of completely banning off-site poker nationwide, his long struggle and lobbying efforts made it difficult for off-site poker legislation to make progress in the United States.

 
Sheldon Adelson
Fight for life
 
Sheldon Adelson’s casino earns $14 billion annually. The founder of the company, estimated to be worth as much as 35 billion U.S. dollars, is applying for leave from Las Vegas Sands to continue receiving cancer treatment.
 
The company has not disclosed how long Adelson's absence will last. But they did publish brief details on how the company will continue to operate during his vacation. Sands President and Chief Operating Officer Robert G. Goldstein will serve as acting chairman and CEO until Adelson returns.
 
Patrick Dumont, Adelson's son-in-law, has served as the company's chief financial officer and executive vice president since 2010, and will also help lead the company through a difficult period. Sands’ Las Vegas casinos-The Venetian and Palazzo-have been struggling financially since COVID-19. Therefore, Adelson recently ridiculed that he would sell his property in Las Vegas. But this rumor has not been proven to be true, because he is still the boss and no serious buyer has come forward publicly.
 
Sheldon Adelson has also been rumored to be interested in buying the New York Mets. However, it is unclear how close he is to buying the franchise of the American Major League. Hedge fund manager Steve Cohen bought the team for $2.4 billion in November.
 
Since the news of Adelson's absence came out, Las Vegas Sands shares (LVS) have seen a small dip in recent days. The current share price is $57.92, which is down from the $60.12 mark on January 6. In the past year, LVS shares have fallen by $13 per share, and COVID-19 revenue losses are one reason.

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