The Success of the Las Vegas Sands Corporation
The Las Vegas Sand Corporation is one of the largest gambling companies in the United States, and they currently own eight different properties that all work to serve their overall goal of providing convention locations and gambling facilities.
The company owns three massive properties on the Las Vegas strip. They are made up of the largest convention center on the strip, as well as two resorts that cater to gamblers. They also own a resort in Pennsylvania, three resorts in Macau China and one massive resort in Singapore. The growth of the Sands Corporation makes for a pretty interesting story, and it shows just how visionary Sheldon Adelson was, and how his foresight helped him become as wealthy as he is today.
As early as the mid 70’s Sheldon Adelson realized that personal computers had the potential to be a very big thing in the future. By having faith in his hunch he was able to make a very successful business around it and make his first fortune. With a group of partners he opened the COMDEX computer convention in Las Vegas that he and his partners were able to sell later on for a sum total of $800 million. This gave him the starting capital to move into casinos and convention centers that his fortune is built from today.
How Sands was Able to be Successful Early on
Sheldon Adelson was able to be very successful with his three hotels early on in Las Vegas because he was ahead of the times with his methodology. During the 90’s it was common practice to have understated hotel rooms that didn’t offer much to the guests. The thinking behind that practice was that most of the visitors would avoid the room most of the time and spend all their time down in the casino, thus spending more money. Adelson, decided to make every one of his rooms into a suite with a mini bar, big screen televisions to encourage people to rely on his convention center for their meetings rather than somewhere else.
While other casino developers were making their money off of gambling, Adelson was able to make the majority of his money from conventions in the middle of the week and still made a good profit off of the gambling facilities as well. Although he was considered odd for doing this when he first started off, it is now the industry standard.
Sands Corporation Earnings
The Las Vegas Sands Corporation is one of the wealthiest in the gambling industry. Their earnings from 2009 until 2011 all show steady growth and are on a level that most casino developers can only envy.
In 2009 the corporation earned just under $4 billion between all of its properties, in 2010 it earned just under $6 billion, and in 2011 it earned just under $8 billion. The sharp gains in profit are all due to expansion, and additional properties around the globe.
The Next Big Gamble
The company is taking another major gamble in the future that they are hoping will pay off even more than their other gambles in the past. They are investing nearly 10 billion into a massive resort in Madrid Spain. The project has not begun yet, and there is some opposition against it by the local citizens, but if everything goes as planned the first phase of the massive resort should open up by 2017 for people to begin enjoying.
BY CASINOWEBSCRIPTS PUBLISHED 18 February 2013