A brief history of Sheldon Adelson and his casino business

A brief history of Sheldon Adelson and his casino business

21.12.2021 Off By Josh Warhall

Sheldon Adelson was an accomplished casino magnate who owns the Las Vegas Sands Corporation – which runs several casinos across the United States. His property includes The Venetian, Sands Macao, The Venetian Macao, Marina Bay Sands and others.

The man who was worth $33.8 billion didn’t have an easy start. Adelson, born in Boston, always dream of becoming an entrepreneur as a young man. He worked early and took risks to achieve his dream of becoming a billionaire.

As a 12-year-old kid, Sheldon started working as a newspaper boy. Understanding that making money is not easy, he learnt to value the money-making process, and at 16 years, he started his own candy vending machines business.

The future casino billionaire never graduated even though he went to college briefly. He knew his calling was into business and pursued it with passion. Education was for him learning in practice, and he didn’t see the need to get a graduate certificate to become successful. However, he went to a trade school to learn the basics of a court reporter job. He worked in the journalism profession, but he realised that the income was never going to be enough to achieve his dreams. He quit his job and joined the US Army.

After serving in the army, he tried many things, but it wasn’t easy. He sold everything from toilet kits, sprays and charter tours. Good fortunes sharted showering results on his hard work. In the 1970s, he found himself a business good partner, and they started a company called COMDEX. Despite having no experience in computer trade shows, he registered profits and sold the company for $862 million after a few years. He received $500 million from the sale.

The proceeds from the sale enabled Adelson to start his gambling empire. In 1988, he purchased the Sands Hotel and Casino in Las Vegas. He then constructed the Sands Expo and Convention Center, one of the country’s largest conference centres. Since then, there was no stopping for Adelson. He demolished Sands Hotel and Casino, and in its place, he built The Venetian – the resort hotel that opened in May 1993. 

He expanded his casino business in Asia. In China, he opened the ‘Venetian Macao Resort Hotel Cotai’ in Macau. He also opened the Sands Macao – the most popular venue for gamblers and tourists. He also expanded his hotel business in Israel and Singapore.

Strangely, the casino magnate was against online gambling. He even supported political candidates who opposed the legalisation of online gambling. 

The self-made billionaire was placed 19th in the Forbes’ list of the wealthiest people in the top 400 businessmen list with the highest income. As a risk-taker himself, he encouraged people to take risks and faith in themselves. 

Sheldon Gary Adelson was not very successful in his private life. All his marriages failed. He didn’t have a child from his two marriages, and he eventually became a step-dad to the children of his two wives – both divorced. His relationship with the kids is also not good, except with one of his daughters. One even file a suit against him.

Adelson was diagnosed with peripheral neuropathy. Even with his ability to move hampered, he was still active in business and politics until his death. He was an ardent supporter of the Republican Party. He also donated money towards Donald Trump campaign and backed his policies, especially the administration fight against opioids. He was also against the legalisation of marijuana as he felt it led to drug addiction. On January 11, 2021, Adelson succumbed to his illness, but his business legacy as a hard worker who believed in people’s capacity to change their lives inspires many entrepreneurs.