Making billions of dollars rarely goes like clockwork. That is why almost all luxury casino & resort owners have skeletons in their closets. We have collected interesting facts about five business magnates in the gambling industry and you will definitely find familiar faces on this list. What they will be remembered for except for being famous casino owners?
Being a casino owner has been profitable at all times as gambling is one of the most prospective businesses. Even Hollywood movies have shown real-life gambling magnates like Molly Bloom as wealthy and respectful people, but who doesn’t have drawbacks? In this article, we have collected interesting facts about the richest CEOs of casinos in the US, China, and other countries to show their life from a different point of view.
Make money and be the president
Probably the most-known casino owner in the world, Donald Trump, now rules the entire country. It is not a secret that the 45th president of the United States started his career as a businessman. Before aiming for politics he inherited real estate business from his parents. As a result, he built up mostly as a developer of The Trump Organization. Later Donald switched to the gambling industry, launched Trump Entertainment Resorts and owned several luxurious casinos in Las Vegas. The most famous included luxurious Trump Plaza and Trump Taj Mahal in Nevada. However, none of them operate under the US president’s name as the company announced its bankruptcy in 2014 after facing financial difficulties in the late 2000s. As a result, Trump or his family doesn’t own any casino as of now, while his former acres are renamed. If only he owned online casinos like Slotland, things might have changed. Can you imagine a casino site bearing Trump’s name?
Famous casino owners with a record profit
Do you know who is the richest land-based casino owner in the world? If you suppose that it was Trump before the bankruptcy of his business, you better think twice. The sitting US president earned only $3 billion from his gambling business, while the leader on the list made up… $41 billion! So who is he?
An 86-years-old Sheldon Adelson gathered his wealth of $41 billion by owning several big casinos in Las Vegas and Macau. However, his major income comes from the only Las Vegas Sands that brings around $32 million daily. This is more than other casinos in the US put together. Add to this a list of other gambling places like the Venetian Macao and the Palazzo, which is among the top-3 best casinos in Nevada and you will understand where his billions come from. Adelson is the richest among famous casino owners of all time, but this isn’t it. He also occupies the 21st position in the list of the wealthiest people in the world according to the 2019 list.
One of them dated to Mariah Carey
Casino owners’ money is of special interest for gamblers, their success formula – for businessmen. At the same time, ordinary people want to know everything about their private life. It is not surprising that rich businessmen date actresses, models, or singers and James Packer is not an exception. The owner of Crown Ltd in Australia and some Vegas casinos was dating a famous singer Mariah Carey. He even proposed to the American superstar in 2016 and they got engaged. However, the couple broke up in 9 months after the announcement about the wedding. Packer paid his ex-girlfriend millions of dollars for an “inconvenience fee”. This might be ridiculous, but we think that Packer’s overall financial success of $4 billion wasn’t affected much. All in all, on-land casinos bring their owners a significant profit, while it is gamblers who benefit from online casinos in the US.
A monopolist from Macau
A 98-years-old Stanley Ho has received many nicknames and titles in the gambling industry during his life. The oldest casino owner on the list is a real King of Gambling who has been managing his casinos for 75 years. He earned his $2.5 billion wealth by owning 19 casinos, including The Grand Lisboa and City of Dreams. But the most interesting thing about his business in gambling is that Stanley Ho is an absolute monopolist in Macau, who owns 19 of the top-20 casinos in the city! He also controls some casinos in Hong Kong where he comes from.
Due to his senior age, the monopoly of the Godfather will come to an end soon. We have no doubt that Ho will live long, but his business is already divided among family members. Thus, his wife Angela Leong owns SJM Holdings, which is worth $4 billion. His daughter Pansy manages MGM Macau, and Ho’s son Lawrence rules the City of Dreams.
Atlantic City Casino owner’s charge
People will not remember all famous casino owners for their money or contribution to the gambling industry. Slotland Casino reveals the case of 73-years-old Glenn Straub who was the owner of Atlantic City Ocean Casino Resort and was charged with theft of $100000 and fraud. This infamous case is based on accusations of Straub’s girlfriend Jessica Nicodemo in filing fraudulent liens on her property after her decision to break up with him. She states that Straub used his power in company Palm Beach Polo to threaten her and it seems to be true. The hearing of a case will take place on May 19, 2020. Yes, sometimes famous casino owners end up like criminals, but fortunately, most of them are worth admiration, not judgment.