It seems like land-based casinos don’t make much money off gambling these days. Harrah’s has released disappointing Q1 numbers that show more and more gamblers are spending less money at their casinos. Meanwhile, Las Vegas Sands is hoping for a potential $12B payday from sales of malls and apartments the company currently holds in Macau. In the words of chairman Sheldon Adelson, “That is our fundamental business model – we get our money back from the sale of non-core business assets.” Fuck gambling – everything must go! Read more.
Las Vegas Sands Q2 earnings short of market expectations
July 26, 2018