From Boston Tenements to Billion-Dollar Resorts: The Audacious Rise of Sheldon Adelson
Description
The story of Las Vegas Sands and its founder, Sheldon Adelson, is a profound narrative of ambition, resilience, and transformative vision. Born in 1933 to impoverished immigrant parents in Boston, Adelson began working at age 10 and launched his first entrepreneurial venture—a newspaper route—at 12. Over the next decades, he engaged in more than 50 businesses, including vending machines, trade shows, and investment consulting. His breakthrough came in 1979 with COMDEX, a computer trade exposition that became a cornerstone of the tech industry and generated hundreds of millions in revenue. This success provided the capital to enter the casino industry at age 55, when he and partners acquired the historic Sands Hotel and Casino in Las Vegas in 1989. Adelson revolutionized the hospitality sector by pioneering the ’integrated resort’ model, combining luxury accommodations, gaming, dining, and large-scale convention centers. In 1990, he opened the Sands Expo, then the world’s largest privately owned convention facility, repositioning Las Vegas as a premier business destination. The old Sands was demolished in a nationally televised implosion in 1996 to make way for The Venetian, a $1.5 billion luxury resort inspired by a honeymoon in Venice. Opened in 1999, it became a flagship property and redefined the standard for casino resorts. In 2004, Las Vegas Sands Corp. went public and expanded aggressively into Asia, opening Sands Macao—the first Las Vegas-style casino in China—recovering its $265 million investment within a year. Adelson then transformed Macau’s Cotai Strip, reclaiming land from the sea to build The Venetian Macao, the world’s largest casino at the time. In 2010, the company opened Marina Bay Sands in Singapore, then the most expensive building in the world at $8 billion. By 2020, Las Vegas Sands was the third-largest casino company globally by revenue. However, the COVID-19 pandemic devastated its operations, with a 97.1% revenue drop in Q2 2020 and a $985 million loss. Despite this, Adelson insisted on paying full salaries and healthcare benefits to all employees during shutdowns, preserving livelihoods for tens of thousands. He passed away in January 2021 at 87, two months before the company announced the $6.25 billion sale of its Las Vegas properties to Vici Properties and Apollo Global Management. This strategic pivot shifted focus entirely to Asia, particularly Macau and Singapore. The company’s post-pandemic recovery has been driven by strong tourism rebound in 2023–2024, validating its Asian-centric strategy. Adelson’s legacy extends beyond business: he created over 40,000 jobs globally and championed corporate responsibility through Sands Cares, funding scholarships, community development, and essential services for underserved populations. In 2025, the company donated $100,000 to 100 Black Men Las Vegas and $250,000 to the Asian Community Development Council, supporting mentorship and healthcare access. Politically, Adelson was a major conservative donor, notably supporting Donald Trump, and engaged in high-profile feuds, such as his 15-year rivalry with Congresswoman Shelley Berkley. Despite controversies, his life embodied a relentless pursuit of vision—proving that innovation, ethical leadership, and human-centered values can coexist with global scale. Las Vegas Sands remains a dominant force in integrated resorts, a testament to one man’s belief that even in the face of ruin, pandemics, or deserts, you can build empires by making your own land.




