sheldon adelson

Marina Bay Sands Singapore Opens First Phase

The Marina Bay Sands resort in Singapore has opened to the public. Las Vegas Sands chairman Sheldon Adelson was on hand to open the first phase of the project at the Feng Shui approved time of 15:18. The first phase includes 963 hotel rooms the event plaza and the casiono as well as parts of the shopping mall and convention center and some of the project's many restaurants and bars. The resort already has events booked in the convention starting next month.

The official grand opening is scheduled for June 23. At that time the remainder of the property's 2,560 guest rooms, more shops and restaurants will open. June 23 also markets the opening of the Sands SkyPark, the incredible park which sits 60 stories off the ground and is perched atop all three of the property's hotel towers.

"Singapore's reputation as a world-class international tourist destination will be further enhanced with the opening of Marina Bay Sands and our company's reputation for building economy-changing tourism developments will be cemented around the world," said Mr Adelson.

Tags: Marina Bay Sands, sheldon adelson, singapore

Las Vegas Mogul Searches For The Most Boring City

by Deidre Woollard (RSS feed) —

Filed under: Luxury Travel & Hotels

Las Vegas Sands head Sheldon Adelson has a new mission, to find America's most boring city. His move is a response to President Obama's criticisms of companies getting bailouts spending money on activities including trips to Las Vegas. Adeslon has vowed to conduct a survey and provide a prize for people who will submit the name of the worst city in the country to go to, where people will enjoy it the least. As he sees it, that's the very opposite of Las Vegas, a place where everyone goes for a good time. Adelson might want to start his search with this list which gives top honors to Chula Vista, California.

Tags: las vegas, LasVegas, sheldon adelson, SheldonAdelson

Sands Casino In Pennsylvania Set To Open

by Deidre Woollard (RSS feed) —

Filed under: Real Estate Developments

The Las Vegas Sands Corporation has been having some financial trouble lately but the plans for the Sands Casino Resort Bethlehem in Bethlehem, Pennsylvania are going forward. The resort is scheduled to open to the public for the first time on May 22 with a grand opening on June 9, 2009.

The resort is located on the former site of the Bethlehem Steel plant and will have 3,000 slot machines, a 24-hour Cafe, an Irish pub, a marketplace featuring a wide selection of cuisines, and a celebrity chef steak house. The Sands Bethlehem has brought over 1,000 jobs to the region. Further development calls for an additional 2,000 slot machines, 200,000 square feet of retail space, and nearly 50,000 square feet of flexible multi-purpose space, which will allow the property to accommodate meetings, conventions, and special events. The master plan will eventually include a 300-room hotel, with the rooms modeled after those at the Palazzo Resort in Las Vegas as well as a National Museum of Industrial History, SteelStax - an arts and cultural center, and will also serve as the home for the local public broadcasting station, PBS 39 / WLVT.

This news come just as Sands Chairman and Chief Executive Sheldon Adelson announced this week that the company expects to avoid a debt default through cutting costs, selling two retail malls at the Venetian Macau resort and the Four Seasons hotel in Macau. If Adelson isn't able to find some more money the ambitious future plans for the Bethlehem project may be delayed.

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Tags: bethlehem pennsylvania, BethlehemPennsylvania, casino, las vegas sands, LasVegasSands, sheldon adelson, SheldonAdelson

Who's Up, Down & Out on New Forbes 400 Richest List

by Jared Paul Stern (RSS feed) —

Filed under: Wealth

Forbes just released its annual Forbes 400 list of the richest Americans, and billionaire Microsoft founder Bill Gates (above) is back on top after briefly ceding first place to Warren Buffett this spring. Gates has a net worth of $57 billion as opposed to Buffett's $50 billion - $12 billion less than he had several months ago before Berkshire Hathaway's stock plummeted 15%. Buffett isn't the only one to suffer a major reversal. The year's biggest loser was Sands casino mogul Sheldon Adelson, No. 15, whose fortune fell $13 billion in the past 12 months - about $1.5 million per hour, Forbes notes - to $15 billion.

Adelson's fellow casino kingpin Kirk Kerkorian, No. 27, was another underachiever, losing $6.8 billion this year. Still, they were both better off than the 33 moguls who fell off the list altogether due to declining fortunes. On the plus side, 31 new plutocrats moved up to take their places, including Facebook founder Mark Zuckerberg, 24, who makes his debut on the list with an estimated net worth of $1.5 billion.

Other Forbes 400 first-timers include fertilizer tycoon Alexander Rovt, car dealer and art collector Norman Braman, and Patrón tequila founder John Paul DeJoria. Meanwhile, New York City's billionaire mayor Michael Bloomberg was the year's biggest gainer, as his net worth jumped $8 billion to a total of $20 billion, snagging him the No. 8 position. Also worth noting among this year's stats:

The average net worth of Forbes 400 members is $3.9 billion.
There are 42 women on the list with an average net worth of $4.2 billion.
For the 2nd year in a row, the minimum net worth needed to make the list is $1.3 billion.
The assembled net worth of the richest Americans rose by only 2%, or $30 billion, to $1.57 trillion this year.

See the complete list here.

Tags: Bill Gates, BillGates, Billionaires, Forbes, Forbes 400, Forbes400, mark zuckerberg, MarkZuckerberg, Michael Bloomberg, MichaelBloomberg, Patron tequila, PatronTequila, sheldon adelson, SheldonAdelson, warren buffett, WarrenBuffett