Sheldon Adelson's Trouble at the Tables

The gambling magnate antes up for the second time in two months, in a bid to avert financial disaster at Las Vegas Sands

Just a year ago he was the third-richest man in the U.S., with a net worth topping $36 billion. Today, gambling magnate Sheldon Adelson is scrambling to save his Las Vegas Sands (LVS) from financial collapse. On Nov. 10, the company reported that Goldman Sachs (GS) had successfully arranged $2.1 billion in new capital, including an as-yet-undisclosed investment from Adelson himself. That would be the second time in two months Adelson has had to ante up personally. On Sept. 30 he paid $475 million out of his pocket (BusinessWeek.com, 10/1/08) for preferred stock in the company.

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