Top 5 Richest Casino Owners in the World
Despite the fact that there are numerous rich casino owners, there are only five of them that have dominated the industry for the past twenty-five years. These are Elaine Wynn, Sheldon Anderson, Lorenzo Fertitta, Donald Trump, and Sheldon Adelson.
World’s 5 Richest Casino Owners List
Sheldon Adelson
Known for his casino-hotel empire, Sheldon Adelson is one of the richest casino owners in the world. He owns The Venetian and The Palazzo in Las Vegas, The Sands Hotel in Las Vegas, Marina Bay Sands in Singapore, and a casino in Macau, China. In March 2019, his net worth was reported at $35.1 billion.
Sheldon Adelson is a self-made billionaire who has a history of investing in casinos. His initial interest was in a casino-hotel in Macau, China. After expanding his business into the United States, he built casinos in Las Vegas, Singapore, and Macau.
After the Las Vegas Sands Casino went public in 2004, Adelson’s fortune began to grow. He was listed as the 19th richest person in the world by Forbes in 2020. He donated more than $100 million to the 2012 elections and was a major Trump backer.
Elaine Wynn
Among the richest casino owners in the world is Elaine Wynn, who cofounded Wynn Resorts with her ex-husband, Steve Wynn. She holds 8.8 percent of Wynn stock, making her the single largest shareholder. She has a net worth of $2 billion.
Elaine Wynn is also a major philanthropist. She has supported arts and education causes and is involved with the Los Angeles County Museum of Art. She has also helped the Las Vegas arts scene in a variety of ways.
Elaine Wynn is currently living in Las Vegas. She has been married twice, first to Steve Wynn and then to his second wife, Andrea Hissom. During their marriage, she worked at a bingo hall owned by her husband. She graduated from George Washington University. She also serves on the Elaine P. Wyn & Family Foundation and the Los Angeles County Museum of Art.
Lorenzo Fertitta
Founded in 1976, the Fertitta family has built one of the most successful casino businesses in the United States. Their casino business, Station Casinos, expanded into the gaming and hospitality industries. It was sold for $4 billion in 2016. In addition to Station Casinos, the Fertitta family owns the Golden Nugget Casinos, the Houston Rockets, and the Ultimate Fighting Championship.
The Fertitta family’s casino business started with their father. He owned a number of casinos in Las Vegas. He also ran a construction company and women’s clothing store.
When the economic crash of the eighties hit, the family ran up a $10 million debt. The brothers sought to create separate companies from their father. They bought real estate to build casinos. They also started renting pay phones and poker machines to bars.
Sheldon Anderson
During his life, Sheldon Anderson was one of the richest casino owners in the world. He was a political powerhouse who used his fortune to help conservative causes and policies in the United States and Israel. He was also one of President Trump’s most prolific donors.
Adelson was born in Boston, Massachusetts, in 1933. He was the son of immigrant parents from Lithuania and Wales. His father was a taxi driver. He dropped out of City College of New York. He was a natural entrepreneur. He began his business career at the age of 12 with a vending machine business.
Adelson built a casino empire that stretched from Las Vegas to China. He built hotels, casinos and trade show venues in Macau, Las Vegas and Singapore. His most famous properties include the Venetian in Las Vegas and The Palazzo in Macau. He also owned several newspapers.
Trump Hotels & Casino Resorts
Among the richest casino owners in the world are Trump Hotels & Casino Resorts owners. Donald Trump established the company in 1955. He managed the company with a debt-fueled approach. He also made some self-dealing moves, such as selling one of the most important businesses to a third party for more than the neutral bidder would have paid. He also had to deal with dozens of lawsuits.
Donald Trump’s self-dealing moves and failure to diversify his casino companies made them a liability. During the Great Recession, Atlantic City casinos were in a bad state. He operated them with high debt and insufficient cash flow. He also failed to expand the Trump brand and build Trump University. Trump’s myopia with risk also hurt employees and shareholders.
The company’s leverage ratio reached Lehman Bros levels during the Financial Crisis. Interest expenses alone topped $205 million, and there was no enough cash flow to pay back the debt.
