At 84 years old, casino magnate Sheldon Adelson remains very active in the business. Attending the 2018 JP Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum, Adelson shared his desire (via group executives, editor’s note) to build more casinos in Macau.
At the helm of five gaming establishments in Macau , Sheldon Adelson has made this former Portuguese colony his playground of choice. The Sands group alone owns 35% of Macau’s hotels and has no intention of stopping there.
This outstanding businessman wants to extend his empire (and his influence) even further in Macau.
Bethlehem Casino Sale Brings $1.3 Billion
The Las Vegas Sands group has just sold the Bethlehem Casino for the modest sum of $1.3 billion . In other words, a nice sum that will allow Sheldon Adelson to invest in other projects. It seems that the Las Vegas, Macau, and Singapore casino magnate already has an idea in mind.
Attending the 2018 JP Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum , Sheldon Adelson announced, through group executives, that he plans to open more casinos in Macau. It must be said that all the lights are green in the international gaming capital. Indeed, Macau casino revenues jumped 19% and generated no less than $33 billion .
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Projects galore
The billionaire already knows where to reinvest the money from the sale of the Bethlehem Casino in the many projects currently underway. For example, Sands China plans to invest $1.1 billion to renovate The Londoner, which is themed after the English capital, just like The Parisian, another Paris-themed casino hotel. A 295-room tower will also be built at the Four Seasons Hotel. Once these projects are completed, Sheldon Adelson would like to open new hotels and casinos. This will require the approval of the Chinese government, something he currently lacks.
Sheldon Adelson’s group isn’t just focusing on Macau, it’s also eyeing the Japanese market. Indeed, according to some analysts, Japan could quickly become the second-largest casino gaming market in the world. In other words, it could be a cash machine for gaming establishment operators.
All operators have their eyes fixed on the Rising Sun and eagerly await the Japanese government’s measures regarding the number of legal operators and tax rates. The Sands and MGM Resorts groups are expected to be the first two to benefit from the famous Holy Grail to open casinos in Japan.
Sheldon Adelson plans to invest between $5 billion and $10 billion in Japan if he receives the precious sesame from the Japanese gaming regulator.
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