Friday, November 07, 2008

COULDN'T HAPPEN TO A NICER GUY

Wingnut money bags Sheldon Adelson's company is in deep trouble and with a little luck, it won't survive.
Las Vegas Sands Said to Have Met Singapore, Banks on Financing

By Beth Jinks and Kelvin Wong

Nov. 7 (Bloomberg) -- Sheldon Adelson, the billionaire who controls Las Vegas Sands Corp., ... Las Vegas Sands seeks funding to stave off defaulting on loans while facing ``substantial doubt'' about its ability to survive, it said yesterday. Casino revenue in Macau, where the company earns about two-thirds of its sales, fell in the second and third quarters for the first time in at least three years.

Las Vegas Sands plummeted 33 percent to $7.85 yesterday in New York trading after saying it might default on loans arranged by Citigroup Inc., Goldman Sachs Group Inc. and Lehman Brothers Holdings Inc.

No comments: