Las Vegas Sands Corporation (LVS) declares special dividendNovember 26, 2012 6:01 PM by Ray Poirier
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.
Proposed restrictions concerning the use of government credit cards in casinos represent another “misperception of the casino industry,” according to the American Gaming Association.
The city of Boston has amended its complaint that challenges the decision of the Massachusetts Gaming Commission to award a casino license to Wynn Resorts.
MGM Resorts has no interest in reducing or eliminating its stake in MGM China Holding Limited, and a second resort on the Cotai Strip that is due to open next year.
The American Gaming Association is now “fully engaged” in the debate about legalizing casinos in Japan. The AGA’s chief executive Geoff Freeman told attendees at the Global Gaming Expo Asia in Macau this week.
Tropicana Entertainment is rolling out the red carpet for its best casino customers with the 4th Annual Slot Star Challenge Tournament June 26-27 at the Las Vegas-based company’s flagship property in Atlantic City.