Sheldon Adelson, the 84-year-old billionaire chairman and CEO of the Las Vegas Sands Corp., was injured in a fall aboard a Hong Kong-bound ferry and was unable to attend the 10th anniversary celebration of the Venetian Macao.
In a statement issued after the November 20 celebration, Ron Reese, senior vice president of global communications for the U.S.-based company, said Adelson “fractured three ribs during a ferry ride from Macau to Hong Kong. Mr. Adelson has been receiving treatment for the injury and is expected to make a full recovery.”
Though he was a no-show at the party, Reese added, Adelson “is grateful for the support of everyone in attendance, especially those representing the government. He looks forward to returning to Macau in early 2018.”
Wilfred Wong Ying Wai, president and COO of Sands China Ltd., told guests at the party that Adelson “cannot be with us tonight. The good news is he is recovering very fast. The doctor said all he needs to do is to relax for a few days and let the injury heal.”
Adelson sent a message saying, “This property has a very special place in my heart. It was my wife, Miriam, who first had the inspiration to recreate Venice in Las Vegas, and opening the Venetian Macao in 2007 marked the beginning of my vision for the Cotai Strip.”
The celebration went on without the guest of honor, with Wong calling it “a very memorable milestone for our company and for the development of Cotai as well, because we’re the first property on the Cotai Strip.” The Cotai district, which once consisted mostly of landfill, is now home to multiple multibillion-dollar resorts.
According to GGRAsia, the company’s third quarter was the best since Q4 2014, with profits reaching US$652 million, up 13 percent year-on-year.
“October was very strong,” said Wong. “Hopefully for this year, with only two months to go, we can continue the growth trend. The economy and finance secretary also said that he expects that this year is going to pan out well.” In the aftermath of a devastating two-year recession, “Macau, as a brand, has come into force,” Wong said.
“We see an increase in the number of visitations, increase in our retail and increase in our hotel occupancy. You know, everything’s gone up and what drove the 2014 spike was the VIP segment and this time it’s more solid. It’s all segments in addition to the VIP segment, which has also done very well in the last six to nine months.”
He said the Venetian is “the only casino that has a profit or EBITDA of over a billion U.S. dollars. It’s impressive, and if you look at the number of visitations, it’s still the No. 1 destination for visitors. After St. Paul’s Cathedral, the next place they hope to come is the Venetian.”
Sands China also operates the Parisian Macao on the Cotai Strip, and has plans to rebrand its Sands Cotai Central as the Londoner.
“Mr. Adelson has on many occasions said that in a market where there’s many competitors, he would like to use themed developments in order for people to recognize us and really to serve as a destination, and he has proven this right by the building of the Venetian and the Parisian,” Wong said. Sands Cotai Central, he added, “has a blurred identity.”
The rebrand, which should be complete in 2019, will add 350 luxury suites at the St. Regis and another 295 suites at a new Four Seasons Tower. The Venetian recorded 280 million visitations since the integrated resort opened in Cotai 10 years ago, said Wong.
