Las Vegas Sands not taking profits out of Macau’s subsidiary: Sheldon Adelson

Las Vegas Sands Corp. chairman Sheldon Adelson says that the company is not taking over the profits generated in Macau by its subsidiary Sands China. "We have independent directors here in Hong Kong and believe me, they are independent. And they speak their mind and I’m very glad they do," Mr Adelson said at the CLSA Investors’ Conference in Hong Kong on Tuesday. Mr Adelson, who is the chairman of both boards, said: "I want Sands China to be as successful as Las Vegas Sands is. "No bank or any investor has ever complained that I’ve cannibalized, that I’ve shifted profits from one to the other." Mr Adelson also announced Las Vegas Sands is considering a possible name change "to reflect more that we’re not just in Las Vegas." Las Vegas Sands spokesman Ron Reese said any name change could be voted on as early as the next board of directors meeting in November. In June, US-gaming operator MGM Mirage also changed its company name to MGM Resorts International to reflect its international presence.