IR veteran Sam Levenson has been named senior vice president of investor relations for the casino, hotel and entertainment giant Las Vegas Sands (LVS).
IR Magazine caught up with the peripatetic IRO on day two of his new job. ‘Spending this week in Vegas, next week in Singapore and Macau, and the last week of the month back in Vegas for earnings,’ he wrote in a quick email exchange.
Levenson feels well prepared for his new role, built on the experience gained during a 25-year IR career at a variety of companies.
He was most recently IRO for Sony Corporation of America, where he became familiar with Asia-based businesses. He points out that this ‘is also where the majority of LVS’ revenues and earnings come from.’
Levenson also dealt with multiple Sony equity issues trading in different markets and worked within a global network of IR offices in New York, London and Tokyo.
An earlier stint at hotel and travel conglomerate Cendant is relevant to the LVS business, too. Prior to Cendant, Levenson began his IR career at office supply retailer Staples.
Characteristically enthusiastic and specific about his new opportunity, the IR veteran was already laying out the investment case.
‘I can leverage my background and participate in an enormous growth opportunity in Asia, particularly China,’ he writes.
‘Of the more than 12,000 public companies traded in the US, there are only six with the combination of a market cap over $10 bn, a 2011-2013 revenue compound annual growth rate of more than 20 percent, and a 2013 estimated free cash flow yield of more than 8 percent. Those companies are Apple, Las Vegas Sands, NetApp, Baidu, Ensco and Vertex.’
Levenson, who will be setting up IR offices in New York, Europe and Asia, reports to LVS president and chief operating officer, Michael Leven.
In a press release announcing the appointment, Leven notes the value of Levenson’s Asian experience.
‘Sam is a well-known and highly respected professional and his deep and broad experience in global investor relations ‒ specifically his experience with an Asia-based company ‒ will be invaluable to us as we look to expand our investor relations outreach,’ comments the COO.
Daniel Briggs, the company’s vice president of investor relations, will continue to manage the investor relations functions in Las Vegas, reporting to Levenson.
Levenson has held leadership positions in professional associations for much of his career, including serving on the NIRI national board, chair of the NIRI senior roundtable and president of the Investor Relations Association, as well as various NIRI chapter officer positions.
He also serves as the sole IR representative on the Financial Accounting Standards Advisory Committee, which is responsible for advising FASB on technical issues, project priorities and other matters that affect standard setting.
Levenson began his career with KPMG after graduating from Boston University with an accounting degree.
