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The 87-year-old billionaire, who was an early and major backer for President Trump, was previously treated for non-Hodgkin’s lymphoma in 2019. He recently resumed his treatment, according to Sands.
Robert Goldstein, Las Vegas Sands’ president and chief operating officer, will act as chairman and CEO of Las Vegas Sands and Sands China Ltd. during Adelson’s medical leave, the company said.
|LVS||LAS VEGAS SANDS CORP||52.42||-0.56||-1.06%|
Sands owns properties like The Venetian Resort and the Sands Expo & Convention Center in Las Vegas, plus several casinos and resorts in Macao through Sands China Ltd., in which it owns a majority stake.
Like many resorts and other businesses in the travel industry, Sands has taken a hit during the coronavirus pandemic. Its stock price is down about 18% from a year ago.
Sands called off its plans in May to build a $10 billion casino in Japan, Bloomberg reported. In October, Reuters reported the company was exploring the possible sale of its flagship properties in Las Vegas.
While the company’s properties were closed in March because of the pandemic, Sands announced that Adelson was donating 2 million masks and 20,000 protective suits to healthcare professionals in Nevada and New York.
“Our properties in Las Vegas may be empty right now, but our hearts are full of hope for the future,” Adelson said in a written statement at the time.
Adelson is also a longtime donor to Republican politicians and groups. He and his wife Miriam gave more than $430 million to conservative campaigns during 2020, according to the website Open Secrets.