Analyst Note
| Dan Wasiolek |On Jan. 11 Sheldon Adelson, casino legend and founder of narrow-moat Las Vegas Sands, lost his battle with non-Hodgkin’s lymphoma at the age of 87. Adelson had an iconic history in the gaming industry, which started with his purchase of Sands Hotel in Las Vegas in 1988. Adelson is credited with developing the Cotai Strip in Macao into the Las Vegas of Asia, starting with the opening of Sands Macao in 2004 and followed by four other resorts, leading to the company commanding around 45% share of the Macao hotel room supply and around 50% and 80% of the region's nongaming revenue and convention center capacity, respectively.