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Las Vegas Sands Chairman Sheldon Adelson Told President Trump That China Trade War Could Cost Him Reelection

Las Vegas Sands (NYSE:LVS) chairman and CEO Sheldon Adelson reportedly cautioned President Donald Trump that escalating the trade war with China could be detrimental to the US economy and hinder the president's 2020 reelection bid.


Adelson's motivations for wanting cooler heads to prevail in the US/China trade war are clear. Las Vegas Sands operates five casinos in Macau, the lone Chinese territory where gambling is legal. Its stock is highly correlated to headlines related to the Special Administrative Region (SAR). Shares of LVS slid nearly 3% last month.

LVS has had a Macau footprint since 2002, and is now one of the peninsula's dominant operators. The company generated nearly two-thirds of its 2018 revenue in Macau. US gaming companies in Macau, including Sands, face renewals of their licenses in 2022.

While analysts believe those permits will be renewed, LVS isn't taking any chances, pledging to spend $2.2 billion to renovate its venues there and aid in the SAR's quest to increase its convention and non-gaming tourism industries.

by gk (gk (gk quattro due due sette @gmail.com)) on Mon Jun 1st, 2020 at 04:57:02 PM EST

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