Las Vegas Sands stock struggles

Las Vegas Sands, the huge conglomerate founded by billionaire Sheldon Adelson, has seen their stock take a major hit this year. After trading at a peak of $122 to the current level of about $5 a share. Now CEO of the public company, Adelson continues to display his maverick approach to doing business. In spite of the falling stock and the bleak outlook for the global economy, he stated today that he will continue to push forward with the construction of a new property in Singapore.

With a total investment in the billions, Adelson has one billion of his own personal dollars wrapped up in the project. He stated that he still sees a tremendous amount of opportunity in the Asian market and is excited to see the property thrive in Singapore once it opens to the public.

Adelson was widely dismissed years ago when he announced plans to open The Venetian in Las Vegas, the most expensive property to ever be built in the town at that time. His critics were quickly silenced as the upscale hotel and casino did very well in its first year of business. So well in fact, that a few years ago they added a second tower to accommodate more guests. Perhaps he’s on the mark with the Singapore project as well but only time will tell.