Fearing tax consequences that could result from lack of Congressional action regarding the so-called “Fiscal Cliff,” the Las Vegas Sands Corp. (LVS) announced on Monday that the directors had agreed to pay a special dividend to shareholders prior to the end of the calendar year.
The special dividend of $2.75 per share will be paid on Dec. 18 to shareholders of record on Dec. 10. Total amount to be paid will be approximately $2.26 billion.
Company founder and Chairman Sheldon Adelson said that returning capital to shareholders was a company priority.
Several publicly-traded companies have announced similar early dividend payments that seek to avoid possible tax increases in 2013.
As for the Las Vegas Sands, it was noted that Adelson and his family control 52 percent of the company.
Ray Poirier is the longtime executive editor at GamingToday.
Contact Ray at RayPoirier@GamingToday.com.
Pennsylvania casinos are reporting a slight increase in revenue from table games. The Pennsylvania Gaming Control Board said Wednesday that revenue from table games totaled $67.9 million last month, up nearly 1 percent from a year ago.
Rampart Casino will officially open the doors to its long-awaited Bingo Room on Saturday, April 19, in conjunction with its 15-year anniversary and “15 Years of Fun” initiative.
The Borgata Hotel Casino & Spa is reimbursing players in a poker tournament that was suspended after counterfeit chips were discovered. The Borgata enhanced security and introduced more intricate chips for its poker tournament last week.
Foxwoods Resort Casino and the Mohegan Sun, Connecticut’s Indian-run casinos, say slot machine revenue fell sharply in March. Foxwoods Resort Casino cited an “ultra-competitive” market.
Getting Rich with Saber | Over 110 years ago, Oaklawn Park in Hot Springs, Arkansas opened for business and they all came. They came for the gambling and natural hot springs bath houses. And they kept coming to this historical spot.
- NHL altered divisional and playoff format
- Can anyone in the NBA apply Heat like Miami Heat?
- 2014 Kentucky Derby Top 22 Point Getters
- GamingToday Casino Games and Poker
- GamingToday Play Free Video Poker
- Can California Chrome win Kentucky Derby?
- Follow GamingToday on Twitter
- Churchill Downs increases take out
- Like GamingToday on Facebook