Sheldon Adelson May Sell Las Vegas Casinos and Retire

Las Vegas Sands Corp. is exploring the possible sale of their Las Vegas casinos. The sale is only hypothetical right now but if it happens it will mark the exit from the US gambling industry of the man most hated by the poker community. The Las Vegas Sands Corp. owns the Venetian and Palazzo, and the Sands Expo Convention Center on The Strip. Sheldon Adelson has long been seen as the enemy of the online gambling industry.

The Venetian has one of the most popular card rooms on The Strip right now, but still some professionals won’t go anywhere near the 35-table room because of who owns it. Sheldon Adelson has made a fortune during his time in the gambling industry. An estimated $30 billion ranks him the 28th richest person in the world.

Most of his riches comes from the company he founded in 1988, which now employs more than 50,000 employees around the world. It’s not game over for the man poker players love to hate though, because it is only the US side of the business which might be sold off. And according to figures reported last year that only accounts for 15% of the pie. Probably less now that the Pennsylvania property was offloaded last year. You can probably already guess that the Macau casinos are where the real money comes from. A whopping 63% of Las Vegas Sands Corp. revenue runs through the Asian gambling paradise.