That’s the vision of Sands chairman Sheldon Adelson
AMERICANbillionaire and gaming tycoon Sheldon Adelson wants to set up variations of Las Vegas-style strips around the world, with Asia a possible location for several more casinos.
“What I’d like to do now is different ‘mini-Las Vegases’, I call them, in different parts of the world,” Mr Adelson said after receiving a lifetime achievement award for enterprise at the Forbes Global CEO conference.
“There are other parts of the world where we can convert gambling dens into cities of entertainment,” said the Las Vegas Sands chairman.
“I’ve been quoted as saying Asia can handle 10 Las Vegases. Maybe I’m off a little bit — maybe it’s eight, maybe it’s 12.”
Mr Adelson said gaming is increasingly accepted as another form of entertainment, partly because of the success of the Las Vegas model he helped develop, of integrating casinos with other offerings to maximise profit.
“What I did in the hotel and casino business is to fill the void of providing entertainment,” he said. “Gaming has evolved from gambling dens into ‘Disneylands’ for adults.”
He cited the example of Singapore, where Las Vegas Sands is now building a casino resort for a 2009 opening at a cost of about US$4 billion ($6.1 billion). A second casino licence was awarded to Genting International, whose resort is expected to be ready in 2010.
The nation’s founding father, Minister Mentor Lee Kuan Yew, has said he dislikes gambling but that he recognises Singapore’s image and economy will benefit from having casino gambling on its shores.
The Marina Bay Sands in Singapore will also offer 2,500 hotel rooms, high-end shopping and dining establishments, meeting and convention facilities including a 8,000-capacity ballroom, among other attractions.
“Singapore obviously recognised this basket of amenities that makes up an integrated resort,” Mr Adelson said.
Late last month, he opened what he has claimed is the world’s largest casino floor, housed in Asia’s largest building — the US$2.4-billion Venetian Macao Hotel Resort. - AP
Sands’ Chairman Honoured At Forbes Conference
Mr Sheldon Adelson (left), chairman and chief executive officer of Las Vegas Sands, receives the Forbes Lifetime Achievement Award from Mr Steve Forbes at the Forbes Global CEO Conference at the Ritz Carlton in Singapore.
The award was presented to Mr Adelson in recognition of his efforts to revive Las Vegas in the 1990s. Mr Adelson broke into the business world when he borrowed $200 from his uncle to sell newspapers when he was 12 years old. He launched one of the computer industry’s leading trade shows, Comdex, in the mid 1980s, before buying the old Sands Casino in Las Vegas.
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