Adelson doing ‘fine’ despite absence from earnings call

John Locher / AP

Chairman and Chief Executive Officer, Las Vegas Sands Corporation, Sheldon Adelson, attends the Republican Jewish Coalition annual leadership meeting, Friday, Feb. 24, 2017, in Las Vegas. (AP Photo/John Locher)

Sheldon Adelson was upbeat and feeling well when Las Vegas Sands Corp. executives visited him in Israel recently.

That’s according to Sands president and COO Rob Goldstein, who spoke briefly about Adelson’s health during a second quarter earnings call Wednesday afternoon.

“Sheldon is doing fine and is in great spirits,” Goldstein said. “(Sands CFO) Patrick (Dumont) visited him two weeks ago in Israel.”

It was revealed earlier this year that Adelson, 85, was diagnosed with non-Hodgkin’s lymphoma.

Goldstein said Adelson — the company’s chairman, CEO and largest shareholder — plans to be a part of the company’s next quarterly earnings call in October.

As for the company’s earnings for the quarter that ended June 30, Sands reported net revenue of $3.3 billion, an increase of just under 1% when compared to the second quarter of 2018.

When looking specifically at its Las Vegas properties, the company posted a strong figure with $136 million in adjusted property earnings before interest, taxes, depreciation and amortization (EBITDA).

The EBITDA number nearly doubled from what Sands posted for the second quarter of 2018 ($77 million).

Goldstein said on the conference call that this year’s second quarter was one of the best ever for the company’s Las Vegas properties.

“Las Vegas is doing well,” Goldstein said. “We’re very proud of our Vegas performance. Everything was strong. In the Vegas market, you can make a lot of money, and I think we could have a record this year in Vegas.”

For its Macau segment, Sands posted EBITDA earnings of $765 million last quarter, an increase of 2% from the second quarter of 2018.