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Sheldon Adelson Loses 43 Percent in Macau

Monday February 22,2016 :  MACAU LOSSES FOR U.S. GAMBLING MOGUL
 
Adelson interests take a 43 percent hit in net profits.
 
Multi billionaire land casino mogul Sheldon Adelson's pocket took a hit last year when his Macau casino interests in the Sands China group posted a 43 percent fall in net profit for the year ended Dec. 31, 2015, according to a preliminary announcement.
 
The operator reported that profit for the year fell to US$1.46 billion in 2015 compared to $2.55 billion in 2014, while net revenue dropped 28.2 percent to $6.82 billion.
 
Adjusted EBITDA for the year plunged 31.8 percent to $2.2 billion, compared to $3.3 billion in the preceding year.
 
Macau operators have been staggering under the weight of a Chinese government crackdown and a slowing regional economy over the past eighteen months.
 
Adelson remained upbeat, commenting:  “Our property portfolio in Macao continues to generate market-leading visitation and financial results. We welcomed over 68 million visitors to our properties during 2015.
 
“Despite all the headwinds and challenges in 2015, and the arrival of new competition, The Venetian Macao generated US$1.1 billion of adjusted EBITDA for the year, and was the only property in Macao to exceed US$1.0 billion in EBITDA. Sands Cotai Central, The Plaza Macao and Sands Macao also delivered solid operating results for the year,” he claimed.
 
In related news, Adelson's vicious legal tussle with former China Sands executive Steven Jacobs  continued to make the headlines as Adelson lawyers failed in their attempt to remove feisty US Nevada federal judge Elizabeth Gonzalez as presiding officer.
 
Gonzalez put Adelson in his place in previous proceedings on the case in her court, and the Adelson camp claims that she is biased against them.
 
Chief Clark County District Judge David Barker ruled last week that Judge Gonzales would remain on the case, saying:
 
“This court thoroughly evaluated defendant’s arguments and exhibits and found no evidence Judge Gonzalez has actual bias or implied bias in favor of or against any party to this action.”
 
The Jacobs case involves a claim that he was wrongfully terminated by Las Vegas Sands in 2010 as head of operations of the Macau-based casino, and the case has seen some alarming allegations regarding company associations and decisions of which Adelson was aware, it has been claimed.
 
Earlier legal manoeuvring on the case saw Adelson lawyers trying, and failing, to have the case heard in Macau rather than Nevada.



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MPNPT Malta Day 2 - The final table is set in the €550 MPNPT Malta Main Event, with nine players still in contention for the trophy and €35,000 top prize. Out in front, by a large margin, is Italian online pro Alessandro Siena, with nearly double the chips of second place Cihan Eren.

MPN Poker Tour Malta Day 1A - The MPN Poker Tour has returned to Casino Malta this week, with a €150,000 guaranteed €500 + €50 Main Event running alongside a full complement of side events, parties and activities.

€8 million mobile jackpot win on Mega Moolah - Mega Moolah was hit on Tuesday 25 April 2017 by a Tipico player playing on their mobile device, just over a month after a €6.6 million jackpot was collected in March. The pay-out of €8,012,153.35 is the largest mobile jackpot win in history, superseding Microgaming’s pay-out in August 2016 of €7,968,311.26.

NHL Odds: Young Oilers Face Veteran Ducks in Round Two - Game Two in Anaheim (10:30 PM ET on NBCSN) features the first and second ranked teams in the Pacific Division during the regular season, with only two points separating them. The Oilers edged the Ducks 3-2 in regular season games, outscoring them by a slim 14-12 margin. This series will be close, and Game Two will decide who has the edge heading back to Edmonton.

BitStarz Casino pays out nearly $100,000 over 2 days - They say lightning doesn’t strike in the same place twice, but it did at BitStarz as yet another player lands a massive payout on an Amatic slot!

Americas Card Room Online Super Series Starts Now - The OSS Cub3d is Americas Cardroom’s 3-part tournament series. It features the Mini Online Super Series (MOSS), the now-underway Online Super Series (OSS), and the upcoming Bigger Online Super Series (BOSS).

New Quick Seat feature at Ignition Poker - New Quick Seat feature at Ignition Poker.In order to ensure our poker players’ user experience is even more seamless, we’ve introduced a new feature in our poker software called Quick Seat for both Ignition Poker.

Finnish people prefer the government to run the casinos - Nordic countries have been, historically, the main markets for the online casino operators. The reasons for this are rather clear - these countries are very cold and people simply prefer to stay home and gamble than go outside to visit a casino.

New Era of Gambling. Now with Bitcoins. - It is not a secret that more than half of the bitcoin transactions have been related, at least somehow, to the online gambling activities.

NBA Odds: Chalk-Heavy Warriors Host Portland for Game 2 - The Golden State Warriors needed a strong fourth quarter to put away the Portland Trail Blazers on Sunday. But they still didn’t cover as 15-point home favourites in a 121-109 victory. Can they do better this Wednesday (10:30 PM ET, TNT) in Game 2 of their first-round playoff series?

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