One of the most controversial figures of the casino industry, Sheldon Adelson, has been admitted for cancer treatment, a publication forwarded by Nevada Independent revealed on Thursday. Mr. Adelson’s deteriorating health has been reason of concern both for his closest allies as well as investors looking into the Las Vegas Sands casino facilities.
Mr. Adelson is certainly one of the most hated people in the industry. He is the man behind the latest Wire Act Opinion issued by the Department of Justice at the beginning of this year. And yes, while Mr. Adelson’s out-of-the-picture would benefit many people in the pro-gaming lobby, he is still a noteworthy entrepreneur who has remained faithful to his ideals.
Based on the publication in the Nevada Independent, Mr. Adelson’s health has been rapidly declining. The statement was made during a court hearing at the Clark County District Court. Mr. Adelson is summoned as a defendant in the case against Richard Suen.
The saga between the Sands, owned by Mr. Adelson, and Mr. Suen has been going for 15 years now. Back in the day, Mr. Suen helped Mr. Adelson’s to expand in one of the now hottest hubs of gambling, Macau, but he was not remunerated adequately for his efforts, he alleged. Addressing the court, Mr. Adelson’ attorney had to excuse his client for not attending, specifying that he was undergoing cancer treatment.
Mr. Adelson missed another important development of the recent past, failing to preside over the Sands’ Q4 earnings call. Mr. Adelson has not been attending company business in person since at least December, his legal team specified.
Adelson’s Worsening Health
Mr. Adelson’s health problems were also confirmed by Ron Reese who addressed third-parties in an official statement, explaining that Mr. Adelson’s drugs have caused a number of sides effects, which have in turn made him unavailable:
These side effects have restricted his availability to travel or keep regular office hours. They have not, however, prevented him from fulfilling his duties as chairman and CEO.
Mr. Suen’s lawyers didn’t back done in the face of this new evidence, explaining that Mr. Adelson was obliged to attend. They further explained that should Mr. Adelson be as sick as already specified, then the company will have to notify the U.S. Securities and Exchange Commission (SEC).
Even before his latest health problems, though, Mr. Adelson has long been avoiding court proceedings, which has landed him in hot water with certain members of the judiciary. Nevertheless, the latest problems Mr. Adelson’s facing are of more serious nature.
Despite his gunk-ho approach towards online gaming and his lobbyism, we wish that Mr. Adelson would be able to recuperate well.
- Tags:
