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Sands China Adds to Adelson's Pocket
Unibet online casino review: Take a peak at the Forbes 400 Richest Americans and you will see the name of Sheldon Adelson perched at an impressive 12th place. With a net worth of over $20.5 billion, the 79-year old college drop out has no problems finding the money to pay his electricity bill.
Adelson did not inherit a bean, and instead grew his fortune through his incredible success operating in the casino industry. He was one of the first Americans to see the huge potential of the Asian market, and recent news that Sands China has seen a 52% increase in fourth-quarter net profit, is one of the reasons both him and his family will never have to worry about money ever again.
Sands China - part of the Las Vegas Sands dynasty – announced it’s quarterly net profit standing at $465m, compared to $307m one year on. That is a rise of 48% to $1.97 billion year-on-year and 20% per cent quarter-on-quarter. Not bad…not bad at all.
Sands China has been busy of late hence the increased profits. It unveiled a new resort on the Cotai Strip in Macau, and that decision acted like a magnet, as it drew in 3 million visitors in the quarter. This week will see the big reveal of a new tower at its Sheraton property on Cotai, and there is also great news with the likelihood that the Macau government will agree to an extension on the table limit laws.
It is believed that the additional gaming tables alone will net Sands China a further $200m in EBITDA when they are installed at Sheraton’s Asian establishments.