Las Vegas Sands (LVS) Chairman and CEO Sheldon Adelson is “doing quite well”, according to the company’s Managing Director of Global Development, George Tanasijevich.
“You may have heard Mr Adelson is undergoing treatment for a treatable form on cancer. He’s doing quite well, is as feisty as ever and engaged in our business,” said Tanasijevich, who is also President and CEO of Marina Bay Sands in Singapore, at the start of a presentation at the Japan Gaming Congress in Tokyo on Thursday. “We’re looking forward to having him back soon.”
Las Vegas Sands announced in March that Adelson was undergoing treatment for non-Hodgkin’s lymphoma, which had restricted his ability to “keep regular office hours.”
The 85-year-old has also missed LVS’ last two quarterly earnings calls, fueling further speculation about the state of his health.
Yet his absence hasn’t altered the company’s global expansion strategy. Asked in Tokyo whether LVS would be prepared to operate in Japan as a minority partner in any IR development, Tanasijevich said, “We would not be comfortable with a minority investment, that’s not the nature of the man (Adelson) or the company.
“I don’t know where that will sit between 51% and 100% and that’s something we are working on at the moment.”
Tanasijevich added that negotiations with potential local partners were ongoing, revealing the ability to contribute financially was not the top priority.
“What we’re looking for is an ability to contribute to our strategic plan, parties that understand business practices here, can guide us through that maze and understand how to get things done in this market,” he said.
“Certainly a financial contribution is a bonus too but that’s not what we’re mainly focused on in that regard.”
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