Sheldon Adelson - The Gambling emperor featured in Forbes billionaire's list

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Adelson's market share could be threatened if gambling were more legalized in the united states.

Didnt this just happen, I thought there was a massive change in the law recently or perhaps it was a court review and the dust is not yet settled. Gambling is to be legal in every state or did I get that wrong ?

Billionaires influence is not as great as the governments need to raise tax revenue to pay its debt. Billions is little matter compared to trillions on the line for government. I think they want to avoid global competition and every crypto gambling by making companies able to operate across the whole federal jurisdiction of USA not just special areas and native lands. Ultimately it would be a familiar story if that did happen, state lotto just aint cutting it no more.

Jating

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Quote from: Juggy777 on July 09, 2018, 10:29:02 PM

Wow this is an interesting share someone from gambling industry making it to to Forbes rich list is a huge achievement and considering it's related to gambling this is an added incentive for me to even gamble more, who knows someday one of us a gambler makes it to Forbes list. I really need to read about this guy and considering he's 21st shows how good he's been doing.

Lol mate, you have to understand that Sheldon Adelson build a empire, meaning he is a entrepreneur and didn't get that much money from playing or gambling. That's different. He has work hard to get to that list because I read some biography of him online few years ago and tells that it was like a cinderella, rags to riches story.

He became a casino magnate by selling COMDEX or share of it if I'm not mistaken and build Venetian and that's how he made a lot of money. But taking risk (which we are all familiar) stick to the plan and with some luck multiple and open another casino in Macau which we all know is Asia's gambling capital.

So from his viewpoint, online gambling is a big threat for his business, because we all know that it is slowly creeping in and garnering a lot of attention lately and it might take a huge chunk of money from traditional, land based casino's in general, which he all gets his money from.

Juggy777

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Wow this is an interesting share someone from gambling industry making it to to Forbes rich list is a huge achievement and considering it's related to gambling this is an added incentive for me to even gamble more, who knows someday one of us a gambler makes it to Forbes list. I really need to read about this guy and considering he's 21st shows how good he's been doing.

pitiflin

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Really interesting, especially when he is 84 years old, a college drop out and is a millionaire in the gambling industry. I would have appreciated him a little more if he had literally gambled his way through to become a Billionaire. He is just a Business entrepreneur, and he just chose a different industry to work in. Its much easier to get rich from operating a casino, than to get rich from operating a clothing venture. Congrats on him for being a Billionaire, but money really doesn't matter at this age, if he can do anything with it, better help those in need.

stomachgrowls

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Quote from: avikz on July 02, 2018, 02:01:13 PM

Dear members, the subject line may confuse you as you may think what significance it may hold to the gambling discussion. Let me introduce Mr. Sheldon Adelson to you.

》 CEO and Chairman of Las Vegas Sands, which is the largest casino company in USA.
》 He owns more than half of the total gambling sales in USA.
》 Billionaire no. 21 in Frobes list of 2018.

He is the only billionaire from the "Gambling Industry" who is continiously holding a spot within the top 50 billionaire's list. His current ranking is the highest he has achieved till date.

Even though this news would make no impact to your gambling profits, but I thought of giving you some reason to cheer on!

News source: https://www.forbes.com/profile/sheldon-adelson/

Getting a spot on billionaires list isnt surprising specially on gambling industry yet he do owns half of total gambling sales in US.This proves out that an owner can make profits out of this field but i bet this wont really be that easy to achieve. Business is Business where there is always a corresponding things you would need up to be done first before reaching out this certain state.
If you are an owner and dont know how to plan or extent your business you wont really move yourself up.

sweetbet

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The strong stand that this casino tycoon has taken against the online casino industry is very hypocritical. I can't say that I have a lot of respect for him.

audaciousbeing

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Quote from: avikz on July 02, 2018, 02:01:13 PM

Dear members, the subject line may confuse you as you may think what significance it may hold to the gambling discussion. Let me introduce Mr. Sheldon Adelson to you.

》 CEO and Chairman of Las Vegas Sands, which is the largest casino company in USA.
》 He owns more than half of the total gambling sales in USA.
》 Billionaire no. 21 in Frobes list of 2018.

He is the only billionaire from the "Gambling Industry" who is continiously holding a spot within the top 50 billionaire's list. His current ranking is the highest he has achieved till date.

Even though this news would make no impact to your gambling profits, but I thought of giving you some reason to cheer on!

News source: https://www.forbes.com/profile/sheldon-adelson/

He has made a name for himself in the world of gambling but what I know is that for every billionaire gambling is able to produced, millions of people have been improvised along the way with several others that have paid for their life. I don't have any issues with those who gamble but the issues is those that wallow in it thinking they would be rich via that means and that did not eradicate the calamity that have befallen some families because of gambling addiction.

This news rather to me is doing more harm than good because from the way I see it, its encourage someone to keep on playing that one day, he would be as rich as him which is never going to happen. Gamble but don't allow your life depend on it as a source to greatness which does not happen by chance but conscious effort to succeed.

jossiel

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Quote from: raven7886 on July 03, 2018, 09:12:07 AM

Which means if lets say 3 more states let gambling legal than he can open up the biggest places there. If lets say there are sportsbooks everywhere in USA, he can take out and carve out a huge piece of the pie.

That's expected, he knows his industry and it's business.

Quote from: raven7886 on July 03, 2018, 09:12:07 AM

I know we love to hate rich people but if you think like a rich people, he wants more money, he loves more money, more legal places can mean more peoples money in his pocket.

He may have the riches but he's too old enough and I'm not wishing something for him since he almost got everything he got.

Anyone knows his right hand?

StarofBTC

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Quote from: avikz on July 02, 2018, 02:01:13 PM

Dear members, the subject line may confuse you as you may think what significance it may hold to the gambling discussion. Let me introduce Mr. Sheldon Adelson to you.

》 CEO and Chairman of Las Vegas Sands, which is the largest casino company in USA.
》 He owns more than half of the total gambling sales in USA.
》 Billionaire no. 21 in Frobes list of 2018.

He is the only billionaire from the "Gambling Industry" who is continiously holding a spot within the top 50 billionaire's list. His current ranking is the highest he has achieved till date.

Even though this news would make no impact to your gambling profits, but I thought of giving you some reason to cheer on!

News source: https://www.forbes.com/profile/sheldon-adelson/

This is not helpful for gamblers but for owners who own casinos for their success plans to be millionaires and billionaires like Mr. Sheldon Adelson. On the other hand it is making a positive perception that people can be millionaires and billionaires with casinos indicating as business from which we can make money. Besides this importance government is also benefiting with casinos by taking money in the form of tax.

orions.belt19

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This just goes to show how profitable gambling is in the US. Unlike in other countries were bans are a hindrance and religion and morals are in the way, it can be said that the US is a good place to put up a casino. Should this news encourage gamblers who have lost hope from continuously losing their money from playing? Business is business and for Mr. Adelson it looks like he’s more than just winning some games. Gotta admire someone who has sustained a business which has been colored bad and associated to money laundering.

avikz

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Quote from: Don Pedro Dinero on July 03, 2018, 11:06:06 AM

Sheldon Adelson is a clear example of what I usually say: the best way to win in the casino is to be the owner of it. At least an investor. This is easier said than done because some casinos go bankrupt and land-based ones require a huge inversion and contacts to get licenses.

Quote from: avikz on July 02, 2018, 02:01:13 PM

Even though this news would make no impact to your gambling profits, but I thought of giving you some reason to cheer on!

It might make an impact if some people decide to become a casino investor instead of a gambler after reading your post.

Gambling is like any other business mate! Without profit no business can run. So gambling also a way to make profits for the owners as well as the employees who work there. Investors invest money to get profit as well. Will you invest in something which doesn't give you any return? Till the time people take gambling as a form of entertainment, is good. If someone sees gambling as a way to earn money for living, that where the problem begins.

Don Pedro Dinero

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Sheldon Adelson is a clear example of what I usually say: the best way to win in the casino is to be the owner of it. At least an investor. This is easier said than done because some casinos go bankrupt and land-based ones require a huge inversion and contacts to get licenses.

Quote from: avikz on July 02, 2018, 02:01:13 PM

Even though this news would make no impact to your gambling profits, but I thought of giving you some reason to cheer on!

It might make an impact if some people decide to become a casino investor instead of a gambler after reading your post.

raven7886

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His profits might be in danger in case every part of USA can gamble. But also lets not forget the fact that he and his partners have a lot of money and take out loans in billions. Which means if lets say 3 more states let gambling legal than he can open up the biggest places there. If lets say there are sportsbooks everywhere in USA, he can take out and carve out a huge piece of the pie.

I know we love to hate rich people but if you think like a rich people, he wants more money, he loves more money, more legal places can mean more peoples money in his pocket. Yes if you let EVERYONE open up a shop than he can lose some of that cash but if you do it slow by slow, state by state than he can make a lot of money.

Hydrogen

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Don't know if I would cheer Sheldon Adelson. When you say he owns more than half of total gambling revenue in the USA. That could be the reason why gambling is illegal in most states aside from nevada. It could also be the reason there are stringent regulations against some US states participating in fantasy sports sites like fanduel or draft kings. Sheldon Adelson could be the reason pinnacle and many other online sportsbooks do not serve american customers.

Adelson's market share could be threatened if gambling were more legalized in the united states. And that could be the reason we see such stringent and restrictive controls here. Billionaires wield some gravitas. They have political influence and clout. Its not hard to imagine a scenario where Adelson provides politicians campaign, lobbyst or special interest funding in exchange for a few favors where gambling is heavily regulated outside of Vegas where Adelson has a controlling interest.

Here's an example: https://www.forbes.com/sites/nathanvardi/2013/11/22/sheldon-adelson-says-he-is-willing-to-spend-whatever-it-takes-to-stop-online-gambling/

Good post though! This post and that series on the economic impact of gambling are great. Wish other sections invested half as much effort.

avikz

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Dear members, the subject line may confuse you as you may think what significance it may hold to the gambling discussion. Let me introduce Mr. Sheldon Adelson to you.

》 CEO and Chairman of Las Vegas Sands, which is the largest casino company in USA.
》 He owns more than half of the total gambling sales in USA.
》 Billionaire no. 21 in Frobes list of 2018.

He is the only billionaire from the "Gambling Industry" who is continiously holding a spot within the top 50 billionaire's list. His current ranking is the highest he has achieved till date.

Even though this news would make no impact to your gambling profits, but I thought of giving you some reason to cheer on!

News source: https://www.forbes.com/profile/sheldon-adelson/

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