• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Adelson to replace Tracy as Sands China CEO

Jan 23, 2015 Newsdesk Latest News, Macau, Top of the deck  


Adelson to replace Tracy as Sands China CEO

Sheldon Adelson (pictured) will replace Edward Tracy as Sands China Ltd’s chief executive, the Macau-based casino operator announced on Friday.

Mr Adelson, who is already the firm’s chairman, will be appointed as chief executive with effect from March 6. He will remain as chairman following the appointment, Sands China said in a filing to the Hong Kong Stock Exchange, where the firm is listed.

Sands China announced last week Mr Tracy was retiring with effect from March 6. He served as president and chief operating officer of the company from July 2010 to July 2011, before being appointed to his current role in July 2011.

Mr Tracy will still keep working for Sands China after retiring, but as a consultant.

Robert Goldstein, currently a non-executive director of the company, will be appointed as interim president and re-designated as an executive director, also with effect from March 6, the filing added.

Mr Adelson, aged 81, is already the chairman and chief executive of U.S.-based Las Vegas Sands Corp, the parent company of Sands China, with a stake of around 70.13 percent.

Mr Goldstein, aged 59, became the president and chief operating officer of Las Vegas Sands earlier this month, replacing Michael Leven, who retired. Prior to that, Mr Goldstein had been the firm’s president of global gaming operations since 2011.

Also on Friday, Sands China announced an interim dividend of HKD0.99 (US$0.13) per share, a 13.8 percent increase over last year’s interim dividend. “A total of approximately HKD7.99 billion in capital will be returned to eligible shareholders through the dividend, expected to be paid on February 27,” the firm said.

In a note commenting both announcements, Deutsche Bank AG analyst Karen Tang said the market could be “disappointed” that Friday’s announcement did not include a special dividend. Last year, Sands China’s interim and special dividend were announced together, she pointed out.

On the appointment of Mr Adelson as CEO of Sands China, Ms Tang said: “We are concerned that the frequent senior management re-shuffle could lead to another round of mid-level management departures from the company.”

She added: “Macau has a shortage in labour, especially in mid-level managerial talents.”

(Updated at 3.50pm)


  • tweet
Related articles
  • LVS full recovery may take until 2024: Moody’s
    LVS full recovery may take until 2024:...

    Jun 29, 2022  

  • Parisian quarantine hotel as Macau Covid cases near 360
    Parisian quarantine hotel as Macau...

    Jun 27, 2022  

More news
  • Sega Sammy to launch Genesis Crest 43J cabinet in Asia
    Sega Sammy to launch Genesis Crest 43J...

    Jul 01, 2022  

  • Macau monthly GGR for June worst since Sept 2020
    Macau monthly GGR for June worst since...

    Jul 01, 2022  


Latest News

Sega Sammy to launch Genesis Crest 43J cabinet in Asia

Sega Sammy to launch Genesis Crest 43J cabinet in Asia

Jul 01, 2022  

Casino equipment supplier Sega Sammy Creation Inc said in a Friday release it was debuting its Genesis Crest 43J cabinet in Asia. The product will be available at an in-person trade show, G2E Asia:...
Read More
Macau monthly GGR for June worst since Sept 2020

Macau monthly GGR for June worst since Sept 2020

Jul 01, 2022  

Kangwon 2021 average bet 61pct above foreigner casinos

Kangwon 2021 average bet 61pct above foreigner casinos

Jul 01, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


638

Aggregate number of Covid-19 cases in the latest Macau outbreak, as of Thursday-end



Most Popular

  • Macau tells casinos cut on-duty staff by 90pct: reportsMacau tells casinos cut on-duty staff by 90pct: reports July 1, 2022
  • 5-casino Thai market ok says National Assembly committee5-casino Thai market ok says National Assembly committee June 30, 2022
  • GKL says no biz lift soon from S.Korea-Japan travel easingGKL says no biz lift soon from S.Korea-Japan travel easing July 1, 2022
  • Macau monthly GGR for June worst since Sept 2020Macau monthly GGR for June worst since Sept 2020 July 1, 2022
  • Universal hopes Okada Manila biz listed before Sept 30Universal hopes Okada Manila biz listed before Sept 30 June 30, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us