The gambling industry records some of the highest revenue collection indices in the entire economic spectrum. Increased demand for gambling establishments over the recent past has opened up new markets and boosted their revenues on the traditional markets. Most casinos are operated by private limited companies. The companies themselves are managed by directors and shareholders. This information can be traced on a casino’s website such like cashpot casino.
Many casino owners get rich and famous from the proceeds of casinos. Below is a list of 7 most famous and wealthy casino owners in the world.
1. Sheldon Adelson
Sheldon Adelson is the CEO and chairman of Las Vegas Sands Casino. This entrepreneur takes home an impressive 32 million dollars every day. His net worth is around 40 billion as of 2017. Sheldon is the wealthiest casino owner in the world. Moreover, his company, the Las Vegas Sands chain, is worth more than all other casinos in America combined.
Sheldon’s story is the classic rags to riches tale. He grew up poor in Boston but managed to beat the odds by starting a business at the age of 12 selling newspapers. Unfortunately, he did not complete his formal education but instead opted to focus on growing a business brand. By thirty, he was already earning millions.
His first excursion to the casino industry was in 1988 when he bought the Sands Hotel and Casino. This establishment was well known for hosting famous personalities like Frank Sinatra. Today, he owns more than ten gambling establishments including:
- The Venetian
- The Palazzo
- The Sands Casino
- The Venetian Macao Resort, and
- The Sands Expo and Convention Center.
Adelson is also a philanthropist who contributes to various charity organizations across Asia and the United States. He doubles in political activism and also owns an independent newspaper press in Israel. He currently resides in a vast estate hosting a 44,000 square foot mansion.
2. Stanley Ho
Stanley Ho hails from the Far East. He popularly goes by the King of Macau. Ho runs the biggest gambling empire in Macau after he was granted an exclusive license by the government of Macau. He is the proud owner of 15 out of 18 of Macau’s land-based casinos. He also owns the highest grossing land-based casino in the world which goes by the name Casino Lisboa.
Stanley Ho has a fascinating history. He arrived in Macau after the Japanese attacked his home country Hong Kong between 1939 and 1943. Before going legit, he would smuggle ostentatious items over the Chinese border during the Second World War. He finally gave up the business when the war ended and decided to invest in the casino industry in 1960. This was the same time that he was the successful applicant for the public tender for gaming in Macau.
At 92 years old, Ho has four wives and 17 children. He has significantly increased his reaches in business by venturing into tourism, banking, and real estate. As of 2017, he was estimated to be worth 4.8 billion US dollars.
3. Kirk Kerkorian
The 95-year-old is a Las Vegas entrepreneur worth 11 billion US dollars. Like Adelson, he came from humble beginnings. Before coming into a fortune, he had worked several jobs and finally saved up enough to buy a small airline that was often used by punters. After some time, Kirk decided to invest in real estate. It was then that he purchased land in Las Vegas. Today, the property is occupied by Caesar’s Palace. The gains of the sale of the land gave him enough capital to buy shares in Metro Goldwin Meyer film studios.
Kirk then invested in the gambling business by starting the MGM Grand Hotel that host one of the most luxurious casino establishments in the world. He owns 39% of MGM’s share capital.
4. Steve Wynn
Steve Wynn is the chairman and CEO of Wynn Resorts. He is solely responsible for themed establishments in the gambling industry. Steve developed the first themed casino in Las Vegas known as the Mirage in 1989. Wynn is also responsible for the construction of other resorts and gambling establishments including Treasure Island, Bellagio Casino, Encore, Wynn, and Golden Nugget.
Steve Wynn has a net worth of 4 billion US dollars. He is known to be a lover of the fine arts as he collects paintings by famous painters. He has made the news on several occasions with his consistent beef with celebrities.
5. Donald Trump
Perhaps the most infamous name on this list, Donald Trump’s reputation precedes him. He is an intelligent business personality with many real estate assets and gambling establishments. Most notable are Atlantic City and New York Casinos. Donald Trump was successful in the 2016 presidential elections and is now the 45 president of the United States of America.
6. James Packer
This Australian mogul is the chairman of Crown Limited which is the largest entertainment groups in Australia. James inherited immense wealth from his late father. Instead of leaving behind his father’s shadow, he chose to build an empire of his own. Today, James Packer is worth an estimated 11 billion US dollars.
7. Elaine Wynn
Elaine Wynn is the former wife of Steve Wynn. While she does not have a single casino to her name, she has heavily invested in the industry. Elaine has interests in over 68 world famous casino establishments. Elaine is estimated to have at least 1.7 billion dollars in her bank account.
The gambling business is lucrative. Most casino owners have, however, ventured into other business to diversify their sources of income. Taking these prominent examples, the money earned from gambling venues could propel one into successful political careers or even install them as permanent fixtures in Forbes Magazine.