Casino Owners Are Becoming the New Nouveau Riches

Casino ownership isn’t for the underprivileged. Brick-and-mortar casinos are typically extravagant investments, where the brand’s poignancy is shown via ridiculously luxurious venues. Online casinos aren’t cheap or easy to maintain either. Licence fees can be hefty, and a successful online casino requires a top-notch team of tech specialists behind it. Nevertheless, these markets are on a steep rise, and casino owners are becoming richer. 

Luck and Prosperity 

The entertainment industry lives a momentous period, in general. Internet and digital technologies are developing faster than ever, reaching unprecedented users worldwide. Quite a few newly opened online casinos have been doing extremely well since the beginning of the pandemic. 

It should come as no surprise since this industry has been growing steadily for a few years. Last year, the online gambling industry was valued at USD 70.02 billion. Land-based casinos suffered a severe slump due to pandemic restrictions, but now, it’s also in recovery. 

Large markets worldwide are also becoming more friendly to gambling as entertainment. Countries like Brazil and India, with millions of active and prospective players, create more flexible laws. So, we can expect to have even more players on the table shortly, which means even more business opportunities for casino owners. 

 

A Game for the Billionaires

If you are still unsure whether casinos are profitable businesses, remember the adage: the house always wins. Additionally, check below the richest men in the industry, inspiring new investors worldwide. 

Sheldon Adelson

On the top of the list there’s the owner of The Venetian casino industry legend, Sheldon Adelson. Sadly, Adelson passed away last year but left quite a legacy behind. Adelson brought the first world-class casino to Macau, the Sands Macau, and expanded his business to Singapore soon after. His curriculum still includes casinos like Marina Bay Sands, The Parisian, and The Londoner. Adelson’s fortune was valued at USD 29.8 billion.

Lui Che Woo

Lui Woo was already among the wealthiest men in Hong Kong when he decided to jump into the casino industry. Surely, the move has made him even richer. He opened the mega-resort, Galaxy Macau, and a bold expansion to the Japanese market in cities like Yokohama and Osaka. The Galaxy Macau also hosts a stadium with a capacity of 16,000 seats. Lui Woo’s fortune is valued at USD 19 billion.

Stanley Ho

Stanley Ho earned the nickname of “King of Gambling” for a reason. Stanley Ho was the owner of 22 casinos out of the 44 land-based venues in Macau. Father of no less than 17 children, Stanley Ho put many of them to taking care of the family’s businesses. Lawrence Ho is the CEO of the famous Melco International. Stanley Ho passed away in 2020, leaving a gambling empire to his heirs and a fortune of USD 7 billion.  

Phil Ruffin

Phil Ruffin is one of the most prolific casino owners in the United States. He began to build his fortune in the convenience store business in the 70s. Later, he funnelled his profits into the Marriott in 1987 and never stopped investing in the industry since. He owned quite a few casinos on the Vegas Strip, including the New Frontier. Phil Ruffin is also famous for his friendship with Donald Trump. His fortune is valued at USD 3.5 billion.

James Packer

James Packer comes from one of the richest families in Australia, with businesses in the media sector. Packer decided to diversify the family businesses by investing in the casino industry. His main move was to establish the world-class Crown Resorts back in 2005. The brand has already expanded to Sri Lanka, although it’s still struggling to obtain a licence to operate in New South Wales. Packer’s fortune is estimated at USD 3.2 billion.  

The Jackpot

Casinos aren’t small businesses. Investors must have quite a lot of chips just to join this game. More online and land-based casinos are born every month, and market indicators only point up. Tech startups and well-developed tech companies are also joining the casino trend, creating new products and solutions for the niche and creating even wealthier investors and casino owners.

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