Word: adelson
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...deal to merge his MGM Mirage with Mandalay Resort Group to form the world's largest gaming company--until last week, when Harrah's Entertainment agreed to buy Caesars Entertainment in a $9.25 billion deal (including cash, stock and debt) that would create an even bigger company. Sheldon Adelson, the 70-year-old owner of the Venetian, is contemplating an IPO to score some cash to make a bigger bet on a new Strip hotel, the Palazzo, and other properties in the U.S. and overseas. In April, Steve Wynn, 62, the man who brought renewed glamour to Vegas...
Thanks to his antiunion stance and outspokenness, Adelson isn't exactly the most popular guy in town. But the son of a Boston cabby doesn't have to worry much about drawing a crowd; almost everywhere he and his wife Miriam go, they are escorted by a contingent of ex-Mossad Israeli intelligence agents. Even for Adelson, some things are better not left to chance...
...VEGAS SANDS Sheldon Adelson...
...city chock full of big-time gamblers, Sheldon Adelson, 70, stands out for his bold bets. "Either I'm the stupidest guy around or the biggest crapshooter in town," he said before opening his $1.5 billion Venetian mega-resort in 1999, complete with canals, gondola rides and its own convention center next door. Five years later, the Venetian is one of Sin City's most profitable hotels, and Adelson has led Vegas' transformation into a business destination...
...longtime entrepreneur who is worth an estimated $1.8 billion, Adelson isn't resting on his laurels. With the help of his chief lieutenant, William Weidner, he just opened Asia's first Las Vegas--style casino (see following story), he's about to break ground on a $1.6 billion resort near the Venetian, and he may soon take public his privately held company, Las Vegas Sands, Inc., which could be valued at more than $4 billion...