Casino mogul and GOP donor Sheldon Adelson dies


Sheldon Adelson and the Venetian in Las Vegas (Gettty)

Sheldon Adelson and the Venetian in Las Vegas (Gettty)

Billionaire Sheldon Adelson, who developed and operated casinos throughout Las Vegas and Asia and was a major donor to the Republican Party, died at the age of 87. The cause was complications from lymphoma, the New York Times reported.

Adelson, CEO of Las Vegas Sands Corp., promoted the concept of casinos as resorts and built properties such as Venice in Las Vegas and Marina Bay Sands in Singapore, which included shopping malls, museums and convention centers along with the usual slot machines, blackjack tables and hotel rooms.

After Las Vegas Sands Corp. released in 2004 in public, he became one of the richest executives in the world, with a net worth of Forbes estimated at $ 35 billion.

Adelson was also a major political player, donation millions of dollars to Republican lawmakers and candidates and influencing political decisions, particularly through his support for President Trump. In the 2020 election season, Adelsons contributed more than $ 54 million to Republican pro-conservative or conservative committees, by far the most real estate player.

According to the Wall Street Journal, his own gambling with the casino business began in the 1980s, when he bought the Sands Hotel and Casino on the Las Vegas Strip with the intention of replacing it with a convention center. The Venetian, who has a canal with gondolas flowing through the property, eventually took his place.

Las Vegas Sands Corp. It now operates nine holiday casinos in Las Vegas, Singapore and Macau. In recent months, the company has reportedly been research selling its three casinos in Vegas, which could potentially raise up to $ 6 billion.

IN claimMiriam Adelson praised “the audacity and genius, inspiration and integrity of her late husband.”

“It was a pan-American business story,” the statement said. “When Sheldon started a new business, the world was looking forward to expectations.” [NYT, WSJ] – Amy Plitt

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