The 3rd wealthiest man in America is days away from the Friday debut of his splashy 50-story Palazzo Resort-Hotel-Casino, in first new hotel on the Las Vegas strip in three years.
The $1.9 billion, 3000 room hotel casino, with the attached 4000 room Venetian and Sands Expo and Convention Center. The Palazzo will be part of a 19-million square foot edifice that Las Vegas Sands says is the largest hotel convention complex under one roof in the world.
With an estimated net worth of $28 billion, the 74-year old goes full throttle with new casinos. In the 1980's he owned the nation's biggest computer trade show, Comdex. He first bought the old Rat Pack haunt of the Sands Hotel in 1989, and then attaching it to the largest privately owned convention center in the nation. In the mid-1990's he demolished itm abd sikd Comdex for $862 million to help finance the all-suite $1.5 billion Venetian, which opened in 1999.
The Venetian and Palazzo are the only Strip properties without unions. His company provides free car washes and on-site day care to employees, among other amenities.
Adelson and Wynn were the only Las Vegas gamers to win licenses to build casinos in the former Portuguese colony of Macau when Beijing decided in 2001 to end the crime-riddled gambling monopoly of Hong Kong tycoon Stanley Ho. But their approaches, couldn't be more different. Alderson racing to open the casino-only Sands Macao by 2004 to start cashing in on the Asian appetite for gambling. Wynn has trodden more carefully. With the success of Sands Macao, Adelson has able to finance a string of nearby resort casinos known as the Cotai Strip, "Asia's Las Vegas".
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment