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StumbleIn keeping with tradition at the Hong Kong stock exchange, the Nov. 30 debut of Sheldon Adelson's Las Vegas Sands Macao spin-off was toasted with mid-morning Champagne. He had reason to celebrate: Only a year ago, as the Las Vegas billionaire fought off creditors and was forced to suspend construction on new casino properties to preserve cash, people were wondering if Adelson had overplayed his hand in China's gambling haven. The $2.5 billion initial public offering of Sands China Ltd. comes as a vindication of sorts for Adelson. The festive mood on the trading floor didn't last long, though. Within minutes of the opening bell, Sands China shares dropped 15%. By the end of trading the stock closed 10.2% lower than its offering price of $1.34 per share.
Las Vegas Sands' Hong Kong IPO flops
(via BusinessWeek) · November 30, 2009 · 3:42 PM
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maybe people are tired of him
The Chinese leaders definitely are tired of him.
Poor Sheldon, I have NO sympathy for him. In Aruba he fired my sister and many other long time loyal employees with no notice, stiffed them on their final paychecks, and sold their hotel out from under them. He's a lousy bum with no honor.. Karma train coming in bum!!!