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Posted At : April 27, 2009 11:00 AM | Posted By : D McKee
Related Categories:
Macau,Sheldon Adelson,Wall Street

"We don't have any intention now, and we have no intention of having an intention in the very near future. Right now, it's not necessary for us to do this." That's what Sheldon Adelson said back on March 24, regarding his newly gained flexibility to buy back debt.
Not necessary? Even when his Las Vegas Sands has a 15:1 debt-to-earnings ratio (worst in the industry)? When Sands Macao may -- in what would be a true desperation move -- be on the block for $1.3 billion? Adelson sounds like a man who won't know his company is falling off a cliff until after it hits the canyon floor ... and maybe not even then.