February 22, 2012 |
The Red White and Blue Fund, a "super PAC" backing the presidential bid of Republican Rick Santorum, paid more than half a million dollars last month to a newly formed direct mail firm. The owner of that company? None other than Nick Ryan, a former Santorum aide — and founder of the Red White and Blue Fund. Ryan's dual roles spotlight how political operatives behind the super PACs can take advantage of the mammoth donations streaming into the funds and the lack of oversight.
June 16, 2008 |
Billionaire Sheldon Adelson landed Chinese government support in his quest for a lucrative gaming franchise in Macao in 2001 after relaying assurances from a Republican Party boss that a congressional measure opposing Beijing's bid for the 2008 Olympics would "never see the light of day," according to court testimony in a civil suit here. The intelligence came out of a phone call between Adelson and then-U.S. Rep. and Majority Whip Tom DeLay (R-Texas).
December 21, 2009 |
Has a state's psyche ever rested so completely on a single resort complex? In recession-ravaged Las Vegas, the flashy opening last week of Aria -- the hotel-casino centerpiece of CityCenter -- was regarded as either a sign of the Strip's economic rebound or another symptom of its ailments. Most Nevadans are praying for the rebound. The punditocracy cast the unveiling of Aria -- a 4,004-room, Cesar Pelli-designed hotel with a Maya Lin sculpture above the front desk -- in terms more suitable to heroism.
June 17, 2005 |
On one corner of the Las Vegas Strip, Steve Wynn runs his signature $2.7-billion mega-resort and busily plans another. Across the street, Sheldon Adelson is building the Palazzo hotel-casino next to his successful Venetian. Soon to be shimmering near both properties are Donald Trump's gold-glass hotel-condo towers, and Phil Ruffin has ambitious plans for the aging New Frontier casino. Four billionaire-sized egos, a slew of big-budget projects and all within stone's throw of one another.
September 28, 2006 |
Sheldon Adelson, named the third-richest man in the U.S. last week by Forbes magazine, has set his sights on No. 1. Adelson, who controls 69% of Las Vegas Sands Corp., has amassed a $20.5-billion fortune developing casinos and the Comdex computer industry show. He says it's only a matter of time before he ends Microsoft Corp. founder Bill Gates' 13-year domination of the Forbes list.
June 22, 2012 |
ALCORCON, Spain - On a dusty plateau dotted with half-built condos, unemployed Spaniards hope a proposed development will amount to more than a mirage in the desert: a glittering gambling city to rival Las Vegas, and the quarter-million jobs it's expected to bring. American billionaire Sheldon Adelson, owner ofLas Vegas Sands Corp., wants to build a casino complex dubbed EuroVegas, complete with 36,000 hotel rooms, 18,000 slot machines and three golf courses, and this Madrid suburb is vying for the jackpot.
December 14, 2004 |
When billionaire Sheldon Adelson sold his successful Comdex computer show and decided to build a lavish hotel-casino with thousands of rooms, gambling executives ridiculed his business model. They said Adelson's plan for the Venetian to cater to business travelers and profit from hotel rooms and conventions wouldn't work on the Las Vegas Strip, where everyone knew casinos were the true moneymakers.
January 24, 2007 |
Macao's gaming revenue surged 22% in 2006, surpassing the Las Vegas Strip as the world's biggest casino market. The Chinese city's gambling industry reaped $6.95 billion in revenue, according to the website of the industry regulator. Analysts estimate that the Las Vegas Strip took in $6.5 billion to $6.6 billion last year. Macao's gambling revenue started to surge in 2004, when Sheldon Adelson's Las Vegas Sands Corp. and Galaxy Casino ended the four-decade monopoly of billionaire Stanley Ho.
November 12, 2008 |
Las Vegas Sands Corp. has priced a public offering of 181.8 million common shares at $5.50 each in a move to raise $1 billion. It also is selling preferred stock and warrants to the family of Chief Executive Sheldon Adelson, as the troubled casino operator struggles to avoid defaulting on $5.2 billion worth of debt. In addition, the Las Vegas company is selling nearly 5.2 million preferred shares and warrants to buy 86.6 million common shares at $6 each. A unit of one preferred share and one warrant to purchase about 16.7 common shares is priced at $100 each.
December 15, 2004 |
Las Vegas Sands Corp., owner of the Venetian Casino Resort in Las Vegas and the Sands Macau in China's former Portuguese enclave, raised $690 million on Tuesday in the biggest initial public offering by a U.S. gaming company. Shares will begin trading today on the New York Stock Exchange, under the symbol LVS. The company sold 24 million shares at $29 each, compared with a projected price range of $24 to $26, according to bankers involved in the sale.