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Sheldon Adelson: Las Vegas
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Sheldon Adelson has brought the famous Sands name to several beautiful locations the world over, and intends to expand his resort empire by launching more hotels under prestigious brands such as St. Regis, the Four Seasons and Sheraton. He opened the one million-square-foot Sands Macao, China's first ever Vegas-style casino, in 2004. In 2006, the Sands was awarded a highly prized license to build a casino resort in Singapore's Marina Bay. The $2.4 billion Venetian Macao Resort Hotel on Cotai opened in August 2007, and Adelson intends to invest an additional $12 billion by 2010 to further develop what he has dubbed the "Cotai Strip."
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Sheldon Adelson, chairman and chief executive officer of Las Vegas Sands Corporation, speaks during the news conference of the opening ceremony of the Venetian Macao Resort Hotel in Macau Tuesday, Aug. 28, 2007. Casinos like the Wynn and Sands have already helped this southern coastal Chinese city surpass the Las Vegas Strip as the world's most lucrative gambling center. American billionaire Sheldon Adelson aims to take a step further with the US$2.4 billion (euro 1.8 billion) Venetian scheduled to open Tuesday.
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Sheldon Adelson and partners began making serious waves in Las Vegas when they bought the legendary Sands Hotel & Casino in 1988 with the aim of attracting new business to the Nevada city via the exhibition industry. Their Sands Expo and Convention Center remains the sole privately owned and operated U.S. convention center. His ultra-luxurious resort and casino known as The Venetian, which boasts over 4,000 suites as of 2003, has been named one of the finest hotels on the planet, and has won several architectural awards.
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The owner of the Venetian, and the richest man in Las Vegas, Sheldon Adelson, doesn't see any problem with the way China treats its citizens. Despite the lack of human rights, stories of slave labor, horrible prison conditions, limits on children and no freedom of speech or press, AP reports that Adelson "liked the way the Chinese run their country." Adelson seems surprised, in fact, that anyone could see things otherwise, telling AP in a story picked up by the China Daily: "People seem to be living the good life in China. Look at the incredible progress China has made. How can anyone say they are doing the wrong thing?" Adelson goes on to say, according to the article, that those who don't like the way China treats human rights should simply not go there. He, of course, offers no advice to Chinese citizens who can't leave China and are stuck with this version of "the good life."
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Sheldon Gary Adelson is an American businessman. He is a property developer and public company CEO based in Las Vegas, Nevada. He is Chairman and Chief Executive Officer of the Las Vegas Sands Corp., which owns and operates the Venetian Casino Resort and the Sands Expo and Convention Center. Adelson vastly increased his net worth upon the initial public offering of Las Vegas Sands (NYSE: LVS) in December 2004 by selling just 10% of the shares.
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Casino tycoon Sheldon Adelson's vision for Macao sounds familiar to anyone who's been to Las Vegas. There will be a $10 billion "strip" of 20 casino-resorts run by global chains, with up to 3,000 rooms each. The anchor hotel will be a copy of the Venetian, one of Adelson's Vegas properties, with opera-singing gondoliers on a man-made canal. "Our advertising will say 'Asian Las Vegas'," says Adelson.
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