The past few years haven’t been kind to American casinos, but Las Vegas Sands’ honcho Sheldon Adelson thinks that his Vegas properties will be back to 80% of normal within a year, and he’s also let it slip that he’s looking at entering the Japanese market. Meanwhile, John Paulson, whose namesake hedge fund famously made $15B betting against the subprime mortgage market, has acquired a 9.9% stake in Harrah’s Entertainment. Paulson already controls 40 million shares of MGM Mirage and 4 million shares of Boyd Gaming, so clearly not everyone believes America’s casino companies have rolled snake eyes just yet.
Las Vegas Sands to increase term loan, share buyback
June 11, 2018