20 years without returns: The Adelson empire is stuck on Wall Street

Las Vegas Sands, controlled by Dr. Miriam Adelson, saw its stock drop 4% in the past week, completing a 43% decline since the start of the year after weaker-than-expected earnings. The company relies on wealthy clients in Asia and suffers from turbulence in the Chinese economy. The stock has barely moved since 2006.

Las Vegas Sands, the casino company controlled by Dr. Miriam Adelson, saw its stock drop more than 4% in the past week after reporting weaker-than-expected earnings, completing a 43% decline since the start of the year. The company, founded by the late Sheldon Adelson, has lost significant value. CEO Patrick Dumont, Adelson's son-in-law, explained the decline is due to a drop in wealthy clients visiting its properties in Macau and Singapore, calling it a temporary situation. However, this is the second consecutive quarter where profits missed analyst forecasts. The company sold its Venetian Las Vegas property in 2022 and now focuses on Asia, exposing it to turbulence in the Chinese economy. Anyone who bought the stock in 2006 is now at roughly the same price. The company has bought back about 19% of its shares over the past three years and is investing in expanding its Singapore property. Most analysts still give a buy rating with an average target price of $50.