Jake Banks | 14 Mar 2018

Adelson Named Wealthiest Casino Investor On Forbes’ List Financial authority Forbes recently revealed its list of World’s Billionaires for the year, and a handful of casino and gambling tycoons again graced their ranks, both from the United States and other regions around the world.

Although he did drop by one position on the ranking list overall, American national and CEO of Las Vegas Sands Corporation Sheldon Adelson was ranked 21st among all of the world’s wealthiest billionaires in Forbes’ 2018 World Billionaires list.

The octogenarian Chairman and Chief Executive is famous for being incredibly wealthy, despite dropping out of the City College of New York. The tycoon holds a 69% majority stake in the Vegas-based gambling company he established back in 1988, and has a net worth of around $38.5 billion, according to Forbes.

Adelson’s Net Worth Grows 26.6%

Even more impressively, Adelson’s net worth has also increased further this year over his substantial bankroll from 2017. Adelson’s net worth has increased 26.6% in one year alone, jumping from $30.4 billion last year.

Las Vegas Sands is widely considered to be the largest casino company in the world, and operates the Las Vegas gambling venues The Palazzo and The Venetian. The firm also operates the Marina Bay Sands in Singapore, and several casinos in Macau, including The Venetian Macau, The Plaza Macao, Four Seasons Hotel Macao, The Sands Macau, and a number of luxury apartments at the Sands Cotai Central development.

Another US venue owned by Las Vegas Sands, the Sands Casino Resort Bethlehem in Pennsylvania, is reportedly being sold to the Poarch Band of Creek Indians for a consideration of around $1.3 billion. This was announced after a purchase agreement for the property with MGM Resorts International fell through back in 2017.

Steve Wynn Still At Spot #679

The next American casino entrepreneur to grace Forbes’ list is at #679 is former CEO and Chairman of Wynn Resorts, Steve Wynn. Despite recent sexual harassment allegations that forced the tycoon to leave his own company, Wynn’s ranking has still risen by 135 places this year – and his ex-wife Elaine Wynn holds the #965 spot on the list with a net worth of $2.5 billion.

Brothers Frank and Lorenzo Fertitta also appeared on this year’s list, having made their fortunes through the mixed martial arts promoter Ultimate Fighting Championship (UFC). The brothers ranked 1,103 out of 2,208 billionaires, posting a net worth of $2.2 billion.

Founder of Macau gambling operator Galaxy Entertainment Group, Lui Che Woo, also ranked 50th among the world’s biggest billionaires this year - as did the founder of Austrian gaming machine manufacturer Novomatic, Johann Graf, with an $8.1 billion worth.

However, at the very top of the list is founder and CEO of Amazon.com Inc., Jeff Bezos. The behemoth of Internet industry is worth an incredible $112 billion, up from a far lesser $39.2 billion last year.

Source links:

https://news.worldcasinodirectory.com/adelson-reigns-as-king-on-forbes-list-of-wealthy-gaming-investors-53837