Last night, KTNV-TV reported that James Jimmerson, an attorney for Sheldon Adelson, had declared the mogul’s condition to be “dire.” Subsequently it was 
disclosed that Adelson has been diagnosed with cancer and hasn’t been to his office since Christmastime. The information had been withheld from Jimmerson until last month and Adelson was an absentee from Las Vegas Sands‘ 4Q18 earnings call. Pressed by the media, Sands spokesman Ron Reese declared “Mr. Adelson is still dealing with certain side effects from medication he is taking for the treatment of non-Hodgkin’s lymphoma. These side effects have restricted his availability to travel or keep regular office hours.” Reese promised Adelson would be back to work as soon as he completes treatment. This complicates an Adelsonian health situation already compromised by neuropathy, which compromises his ability to walk.
During the Jan. 23 earnings call, LVS President Rob Goldstein was somewhat disingenuous about Adelson’s health, saying “He’s taking some medications making him a bit drowsy, so he decided this morning to take a rain check on this one.” Goldstein, a veteran Sands exec, would be obvious choice to take the reins through 2024 (when his contract expires), should Adelson choose to relinquish 
his role as CEO (which we think unlikely), so shareholders need not worry about Life After Sheldon. Yesterday’s revelation, which made headlines in Israel, may be more worrisome to the Republican Party, to whom Adelson has been Lady Bountiful in recent elections. (Though he recently threatened to take his ball and go home after the GOP was outspent by ActBlue in the last election cycle.) Adelson’s condition also had the near-term benefit of allowing to skip being called as it witness by lawyers for Hong Kong businessman Richard Suen, who is still after Sands for an unpaid “success fee” in Macao. Adelson is also being sued, along with two Israeli banks, as a war criminal for having directed money to Israeli settlers who killed Palestinians on the West Bank. He’s in august company, his fellow defendants including Oracle founder Larry Ellison, ex-Philadelphia Eagles owner Norman Braman and convicted felon Elliot Abrams, who was a “self-appointed U.S. spokesman” for the settlements. Leaving such matters aside, we wish Adelson a speedy recovery, especially with Sands on the cusp of Japanese casino acquisition.
* While the world was distracted by Adelson’s health, Caesars Entertainment — under cover of darkness — axed three members of its board of directors. This 
Night of the Long Knives was committed so that Carl Icahn could install three dissident directors on the board. Reuters also reported that Caesars has “come to an agreement” with Icahn on who the new CEO would be, suggesting an imminent exit for Mark Frissora. As for selling the company, the fix is in now. It’s just a question of whether there’s any resistance and how long it will take Icahn to hammer it down.
* MGM Resorts International is all agog for Lady Gaga these days. It has added “Bad Romance” to the playlist at the Bellagio fountain show, blasting it from 213 speakers as the water jets dance. The fountains haven’t been augmented with new repertory since Cher‘s “Believe” was a thing, so we have to thank Her Ladyship for coming to our rescue.
Commenting on the imminent arrivals of Cardi B and Christina Aguilera for Las Vegas Strip residencies, Michael Cragg observes that they offer “a kick of nostalgia unencumbered by thoughts of new material. For pop artists whose album sales aren’t what they used to be, and who have grown accustomed to big-budget shows even as the venues have downsized, an ‘intimate’ Vegas residency now feels like a legitimate mark of respect.” She also remarks that long-term Las Vegas gigs remove the strain and drain of touring, especially if like Lady Gaga (and this author) you suffer from fibromyalgia. However, Cragg’s conclusion that “where Pitbull goes music follows” is a scary thought. But with casinos needing to offer tourists something they can’t get at home, residencies shows by still-viable artists are the prime strategy of the moment.
Case in point, January visitation was up 2% and convention attendance 11.5% higher, even though less money went into the slot hoppers or onto the green felt. Three and half million people traipsed through Vegas driving room revenues to $147/night and rates to $171/night on 86% occupancy. World Market Center (50,000 attendees) and the Surfaces convention (24,000 souls) were instrumental in driving the numbers upward.
* MGM’s latest overture to Japan is to sponsor Major League Baseball‘s season-opening series between the Seattle Mariners and the perennial Oakland Athletics (all that “moneybag” and nary a World Series to show for it). “We look forward to giving fans a unique experience to participate in baseball activities in and out of the Tokyo Dome,” MGM CEO Jim Murren said of the festivities.
