Asian investors wary of Sands China after Adelson fires CEO

Jul 26, 2010 10:06 AM

Concern over the leadership of Macau and Singapore gaming properties owned by Las Vegas Sands Corp. (LVS) sent Asian investors fleeing the Hong Kong initial public offering shares in Sands China.

According to Monday reports, shares in Sands China on the Hong Kong exchange were on a path of falling to a two-week low following the announcement that CEO Steve Jacobs had been fired.

Sands executives must walk on eggshells

Jacobs’ departure followed a series of other senior officials who left the company in recent years because of a disagreement with company chairman and CEO Sheldon Adelson.

However, the investor impact on Sands China shares was not being felt by the parent company in early trading Monday in LVS shares on the N.Y. Stock Exchange. The per share price actually rose $0.19 to $25.73 each.