Las Vegas Sands Chairman Sheldon Adelson Takes Medical Leave to Resume Cancer Treatments

  • Robert Goldstein will take over Adelson’s roles temporarily
  • Adelson has been fighting non-Hodgkin’s Lymphoma since early 2019
  • It is unclear how long the medical leave will continue
Sheldon Adelson
Sheldon Adelson has taken a medical leave of absence from Las Vegas Sands as he continues treatments for non-Hodgkin’s Lymphoma. [Image: Shutterstock.com]

Non-Hodgkin’s Lymphoma

The Las Vegas Sands Corporation announced that chairman and chief executive officer Sheldon Adelson is taking a medical leave of absence. After recently resuming cancer treatments, Adelson is taking time off from the company to focus on his health.

Adelson, 87, was first diagnosed with cancer in early 2019. The company did not state how long the leave of absence will last.

Sheldon Adelson replaced by Robert Goldstein

During his time away, Adelson’s roles within the company will be temporarily assumed by Robert Goldstein, the president and chief operating officer of Las Vegas Sands Corp.

When he was first diagnosed with cancer two years ago, Adelson did not take a formal medical leave. He did not participate in quarterly earnings conference calls for a full year.

The diagnosis was not revealed to the public until an attorney reported on Adelson’s health during a court case. The case required a deposition from Adelson and there were questions as to whether he would be able to take part because of his poor health. Las Vegas Sands then issued a formal statement, affirming the diagnosis of non-Hodgkin’s lymphoma, a type of blood cancer.

In the case, Richard Suen, a businessman from Hong Kong, was suing for compensation from Las Vegas Sands. Suen said that he played a vital role in helping the company secure a Macau license. The company argued that Suen did not help and he should not be compensated.

Richest casino tycoon

While he may be facing health issues, Sheldon Adelson is still one of the richest men in the world. In mid-2020, Forbes’ annual “World’s Billionaires List” placed Adelson as the 28th richest person in the world, with a net worth of $26.8bn.

Just a few months prior, Adelson was actually worth almost $40bn, but his wealth plunged after shares of Las Vegas Sands nosedived because of the COVID-19 pandemic.

Adelson owns half of Las Vegas Sands, which includes the Venetian and Palazzo properties in Las Vegas. The company also operates several properties on the Cotai Strip in Macao including The Plaza, Venetian Macao, Sands Cotai Central, Parisian Macao, and others.