8 Billionaire Casino Owners in 2020

Billionaires own all kinds of investments. Jeff Bezos, the richest man in the world, is an online retailer magnate. Bill Gates built his wealth in software technology, whereas Warren Buffet is a stock market guru.

In the casino game, the richest men and women have some truly inspiring stories. So, spare five minutes to discover who owns what casinos and what they did to earn their billions.

Casino

Sheldon Adelson– $39.9 billion

  • Owns the Sands Hotel & Casino

Born by Lithuania and Wales immigrants, Adelson grew up in the streets of Boston, often sleeping under the roofs of unoccupied tenements. But he discovered his love for entrepreneurship pretty quickly, opening his first newspaper vending business at 12. 

He then joined the army but later resumed entrepreneurship. Sheldon’s interest in casinos started while he was 55 years, buying the Sands Hotel & Casino for $128M in 1989.

With time, he expanded his empire to include casinos in Singapore and Macau, a business worth $14 billion. He’s grateful for his grass to grace story, and he’s always making donations to inspire young people to pursue their dreams as well.

Lui Che Woo– 14.5 billion

  • Owns Casino brand Galaxy Entertainment

Often regarded as Hong Kong’s second-richest man, Lui Che Woo is a casino investor whose empire includes multiple casinos in Macau. He started as a supplier of construction materials but later pivoted into the gambling business and property construction.

He’s an incredibly philanthropic person, donating as much as $1.2 billion in 2015. He runs his empire with the help of his children, each of whom manages at least one company. Surprisingly, Lui nearly partnered with Adelson in 2002, but they had a fallout that saw the Hong Kong investor owning his empire alone.

Steve Wynn–$3.1 billion

  • Owns Wynn Resorts

Steve Wynn is one of the most famous casino owners in Las Vegas. He’s after all an investor in tons of establishments such as Bellagio, Wynn Las Vegas, The Mirage and Treasure Island. He’s also been in the gambling business since 1967 and has inspired multiple investors, including Sheldon Adelson.

Although sexual allegations and a nasty divorce with ex-wife Elaine Wynn has dented his reputation, his story is inspiring. He came from a family of investors. This inspired him to start his first business at 15, an ice cream parlor he distributed through a bicycle.

After inheriting his father’s failing bingo business, he remodeled it to become a lavish casino investment. Since then, he’s been building his wealth one casino after the other. He’s one of the most richest casino owners in the world. But considering he’s no longer an active executive in his resorts, only time will tell how long he will continue to be in this list.

Elaine Wynn–$1.8 billion

  • Co-owns Wynn Resorts

She isn’t called the queen of Las Vegas for no reason. She’s the largest shareholder of Wynn Resorts after her ex-husband Steve cashed out of it entirely. In all fairness, Elaine isn’t a billionaire because of her divorce.

She’s a bona fide co-owner of many casinos Steve also owns. For example, they are both credited for launching the Mirage Resorts in 1973 and the Wynn Resorts in 2002. She’s also been an executive in these casinos for decades. 

And with her husband out of management, she is in charge of elevating Wynn Resorts to the next level. She’s controversial, though, often kicking out executives loyal to her former husband. But then again, that could turn out to be what’s best for her resorts. 

Phil Ruffin–$3.5 billion

  • Owns Treasure Island Hotel & Casino

Phil Ruffin can best be described as a jack of all trades. He’s a friend of President Trump and co-owns Trump International Las Vegas hotel 50/50. Similar to many billionaires in this list, Phil built his wealth through sheer hard work and determination.

For starters, he dropped out of college to sell hamburgers with friends. He then saved the money to purchase convenience stores, office parks, hotels, and strip malls. When his net worth increased, he bought more hotels and casinos.

His most noteworthy business triumph is buying New Frontier Hotel & Casino for $165 million in 1998 and selling it for $1.2 billion in 2007. He then used some of the cash ($775M) to purchase Treasure Island. Interestingly, it is double the amount today.

Pansy Ho–$3.8 billion

  • Has Significant Investments in MGM Grand

Pansy Ho is the daughter of Macau’s gambling investor Stanley Ho. Naturally, that means she inherited a significant portion of her wealth. However, she’s also made a lot of business moves independently. 

For example, she invested in MGM China then cleared out over $1.5 billion after it became a publicly-traded company in 2011. However, that decision plus her father’s questionable deals with organized criminals cost her the right to invest in New Jersey.

The state determined she was unsuitable for investing in New Jersey and forced MGM to disassociate with her. She was also forced to sell her shares from the Borgata casino. She’s doing fine, though, and still leads several of her businesses. 

James Packer–$3.2 billion

Owns Crown Resorts

Together with sister Gretel Packer, James Packer runs their family’s business, Consolidated Press Holdings. James has been in charge of the business for most of his life, and he used his profits to invest in multiple businesses, including Crown Resorts.

In 2018, however, he stepped out of the board of Crown Resorts to concentrate on his mental health. He also ceased management of Consolidated Press, something that led to his sister’s net worth increase. 

Lorenzo Fertitta–$1.7 billion

  • Owns Red Rock Resorts

Lorenzo Fertitta might be a casino heir—his father owned Red Rock Resorts. But what made him rich is an investment with his brother Frank. In 2001, the duo purchased the UFC for $2 million. 

Fast forward to 2016, and the company sold for $4 billion.  In 2017, the brothers opted to get out of the UFC business entirely. Presently, the Fertita brothers operate their family business Red Rock Resorts. They are also into philanthropy, pledging millions in scholarships for veterans.

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