Sheldon Adelson Insists He is Not Retiring: Right Hand to Step Down
80-year-old Las Vegas Sands Corp CEO Sheldon Adelson has dispelled rumors that he will be retiring any time soon following in the steps of 76-year-old President and COO Michael A. Leven, who announced his retirement this week.
"As the supposed Mark Twain quote goes, 'the rumors of my demise have been greatly exaggerated,'" said Adelson, addressing a Wall Street Journal article which suggested he might give the CEO title to whoever replaces Leven next year.
"I am as bullish about this company as I've ever been, and I have no plans of slowing down or passing the CEO title or job to anyone," Adelson added. "We have taken an important leadership position in the gaming and hospitality industry, and I plan on spending year after year building on that success. Whether it's driving financial results, working with governments to open up new markets, securing new development opportunities in emerging markets, spearheading regulatory compliance or anything else, I am intently focused on building on the momentum we have established over the past several years."
Adelson has been a thorn in the side of those casino interests pushing for legalization of online gambling both federally and at the state level. His lobbying group helped draft legislation that would prohibit the activity even in states that already allow it such as New Jersey, Nevada and Delaware.
Leven will stay on until the end of the year when his contract is due to expire.
- Aaron Goldstein, Gambling911.com
