Adelson’s absence has no implications on operation, says analysts

The absence of Sheldon Adelson in his roles as chairman-cum-chief executive officer of Las Vegas Sands Corp (LVS) for medical reasons will not adversely affect the group’s operation, Deutsche Bank Securities Inc. and JP Morgan Securities (Asia Pacific) Ltd both confirmed.
On January 7, LVS released a statement saying that Adelson, 87, has taken medical leave for treatment of lymphoma.
Adelson has also been chairman and CEO of Sands China Ltd, the Macau unit of the LVS.
In the meantime, Robert Goldstein, the conglomerate’s president and chief operating officer, is taking up Adelson’s roles as acting chairman and CEO of both LVS and Sands China, the statement said.
Following the announcement, Deutsche Bank Securities Inc. released a statement last week, saying, “We do not believe there will be concerns around a change in strategy in Mr. Adelson’s absence.”
The financial institution holds confidence that Goldstein “is more than simply well equipped to perform the active duties” during the absence of Adelson.
The same day, JP Morgan Securities said Sands China has always been managed by a “local management team.” Hence, it does not anticipate any changes to the Macau unit’s operation.
“It’s also unlikely that the group’s strategic direction changes with this appointment, since we have long viewed Mr. Goldstein as ‘the next man up’,” stressed JP Morgan.
This is the second time Adelson has taken medical leave due for lymphoma. HT