Dr. Miriam Adelson, a dominant stakeholder in Las Vegas Sands, is reportedly planning to officially sell a $2 billion stake in the company's total stock, and the result will be used to purchase a professional sports franchise with her cash. However, the deal has not been concluded yet.
The results of the availability:
The possibility of a sale is said to reduce the billionaire's stake in the company by about 10 percent. In addition, Las Vegas Sands (LVS) is headquartered in Las Vegas, but currently has active casino operations only in Singapore and Macau.
On November 28, 2023, a filing with the Securities and Exchange Commission (SEC) announced that it was offering $2 billion in Las Vegas Sands common stock, but did not provide specific details. Hours later, however, digital content platform Sportico officially announced that the Adelson family was buying a "majority stake" in the Dallas Mavericks in the Western Conference Southwest Division. However, current owner Mark Cuban, who reportedly acquired the sports franchise for $285 million in 2000, will retain the team's operational leadership. In addition, the Dallas Morning News officially covered this story.
In this regard, the company said in its writing, "We have received comments from current selling shareholders that we intend to use the net proceeds from this offer, along with additional cash, to fund the purchase of a majority stake in the professional sports franchise under customary league approval under a binding purchase agreement." 온라인카지노
As for Dr. Adelson, she officially controls 56.4 percent of the company, either personally or through her trust. In addition, she is a 78-year-old widow of Sheldon Adelson, the founder of the aforementioned company. Although she does not have a formal role in the company's side of the company, her son-in-law is the chairman of LVS and part of the company's board of directors.
When it comes to the Forbes 400 list, she ranked 24th with a "net worth" of $32.3 billion. In this regard, Dr. Adelson could not be reached for comment.
Expected to buy shares:
Although Sheldon Adelson was one of the biggest contributors to Republican candidates, Dr. Miriam cut back on political donations after her husband's death. However, she reportedly met the aforementioned Republican presidential nominee, Nikki Haley, at a Republican Jewish Coalition event in Venice this month.
In February last year, less than a year after Sheldon Adelson's death, LVS officially sold Palazo, Venice and Venice Expo centers to private equity firm Apollo Global Management and real estate investment fund VICI Properties for $6.25 billion. In a related development, the Nevada Independent said in a statement that Dr. Adelson intends to buy up to $250 million in shares for sale.
If the purchase closes, the Adelson family is expected to retain a stake of about 52%.
New Focus:
The Adelson family only recently added professional sports as a new focus. In the summer of 2022, Dr. Miriam's son, Matan Adelson, was the leader of a group that raised $20 million to win a 90% controlling stake in Israel's professional basketball team, Hapoel Jerusalem.
In response, the Adelson family's only American professional sports activity was the Oakland Raiders moving to Las Vegas six years ago. In addition, Go Sheldon planned to officially invest $650 million in the current Allegiant Stadium. However, when the Nevada Legislature approved a $750 million room tax as a way to finance the site, he withdrew the financing, but Adelson provided a 0.88% tax on the room tax at the Streep Hotel.
In addition, Las Vegas has become a center of professional sports over the past few years. Some examples include:
The Raiders officially switched to Las Vegas for the 2020 NFL season, and the NFL awarded Super Bowl LVIII to Allegiant Stadium in early February
In 2017, the Vegas Golden Knights, an expansion team in the National Hockey League, started playing at T-Mobile Arena
Major League Baseball verified Oakland A's change of address to a $1.5 billion stadium located on a strip marked for completion in 2028
Raiders owner Mark Davis bought the WNBA's Las Vegas two years ago, and the team managed to win back-to-back championships.
The NBA has reportedly considered expanding to Las Vegas, and entertainment complex developer Oak View Group CEO Tim Leiwake plans to build 20,000-seat arenas on Blue Diamond Road and Las Vegas Boulevard, which are currently in the design stage, under NBA guidance. The arena is being designed as part of a resort and entertainment property worth $10 billion.