There is no way that when the trading party headed up by Rafael Rivera of the Antonio Armijo traveled through the Nevada valley on their way to the gold coast they could have ever predicted what would become of the place they named “Las Vegas.” Many know Las Vegas by another monicker: Sin City. And it certainly lives up to that namesake. From round-the-clock casinos, clubs, bars, and slot machines everywhere (including the airport), as well as everything in between, if you can’t find your indulgence in Vegas, you’re not trying.
Millions of visitors flock to the city of sin in the valleys of gorgeous Nevada. Every year 42 million visitors descend upon Las Vegas-based on the stats from the Las Vegas Convention and Visitors Authority.
Billionaire Entrepreneurs Who Own Las Vegas Empires
While most people know Vegas for its gambling getaways, the slot machines and blackjack tables aren’t Vegas’s sole draw. It is, after all, a fully functioning city that hosts as many as 21,800 annual conventions. Therefore, in the shadows of the strip’s bright lights, lots of businesses smoothly operate daily.
Of course, the town was built on the income of the casinos and around them so the money to build the city up did need to come from somewhere. It certainly wouldn’t be the busy hive of activity it is today if it weren’t for some prominent and notable figures contributing their ideas, and more importantly, their money to build it up. So who are these exceptional benefactors who took a chance on Las Vegas and helped mold it into the successful entertainment capital that it is today?
1. Steve Wynn (Est. Net Worth = $3 Billion)
Steve Wynn learned his trade of building up a casino-filled city from running bingo parlors for his parents. Wynn graduated from the University of Pennsylvania with a Bachelor of Arts (BA) degree in English literature. The plan was for him to follow this achievement up with a trip to Yale’s graduate school of law.
But plans changed when Wynn’s father passed away, leaving the family scrambling to pay off the $350,000 in debt. Steve Wynn was thrust into the role of taking over the family business and in order to have any chance of repaying what his family now owed, Wynn was forced to expand the bingo parlor chain. Four years later he ended up relocating to Las Vegas.
Luckily for Wynn, his bingo business was a success, and he used some of his profits to invest as a stakeholder in Frontier Hotel & Casino. He then connected with E.Parry Thomas, a Vegas banker who gave Wynn a loan allowing him to buy some land in the city and start a liquor and wine importing business. In 1973, Wynn had enough funds to buy the majority stake in the Golden Nugget, making him the city’s youngest casino owner at the age of 31.
Over the next few decades, Wynn engaged in multiple other casino ventures in the city, and in 2005, he attempted his biggest, most ambitious venture yet: The Wynn. Wynn always strived to exude luxury and opulence, and this massive casino and hotel complex epitomized that to the highest degree with a stunning price tag of $2.7 billion to complete. Besides boosting the number of casinos in the city, he also helped sway public opinion on the previously looked-down profile of the casino industry.
Wynn’s “gamble” certainly paid off. Through his efforts of catering to upscale clients, Wynn helped to abdicate much of the former perception of the gambling industry, improving the images of casinos and betting on games in general. These efforts helped draw the millions that still visit Vegas every year, from complete novices to seasoned gamblers.
2. William Andrews Clark (Est. Net Worth = $2.1 Billion)
Rafael Rivera may be credited for naming Las Vegas, but it was William Andrews Clark who really put the city on the map. Clark was an entrepreneur and politician with heavy involvement in the railroad industry. A clever move that leveraged his railroad line between San Pedro, LA, and Salt Lake, allowed Clark to establish a maintenance stop on his rail route in Las Vegas. This gave people a reason to stop over in Vegas in their travels, drawing more attention to the city.
He bought up 110 acres of land, then divided it up into 1200 lots, laying down the foundation for what is now the city’s infamous Fremont Street. These days, the train stop on the rail line is not the hot stop that it had once been, but Clark’s contributions have certainly not been forgotten. While the infrastructure has been altered, the county the stop resides in has been named Clark county to honor the name of one of its most important originators.
3. Howard Hughes (Est. Net Worth = $3.8 Billion)
Imagine having $6.45 billion in your possession. Money talks and it practically commands in Vegas. In the 1970s, this same amount had a different worth: $1.5 billion, and that was the net worth of the high roller of all high rollers, Howard Hughes. That kind of money afforded Hughes certain luxuries in Vegas, not the least of which was the Desert Inn penthouse suite. While Hughes cannot be fairly credited with casino comps, he certainly proved that with enough money it was possible.
His massive bankrolls let him request and receive a hotel suite for a month. He was asked to leave a suite-only once, on New Year’s Eve, but his refusal was accompanied by a $13.3 million offer to purchase the entire hotel. The wealthy clientele has taken some pointers from the famous high roller. If you have some money, you can certainly wrangle your way into some extras just like Hughes used to do. This ‘comp culture’ in casinos had sort of become a social phenomenon in more recent times. Even online gamblers can swing one or several free compensations. Many books and articles have even been written on the matter.
Of course, where you play matters too. If you wager $5,000 bets in a blackjack game at a casino off the main Vegas strip, you will siphon more attention than if you pulled the same move at the Bellagio. If you were to put your entire gambling money budget into the casino hotel’s watchful eye, they will be happy to hold onto it for you, and will even comp you a nice room, as long as you keep playing that sweet money at their establishment.
If you’re hoping for the Howard Hughes treatment, keep dreaming. But you might inch just a little closer to the greatness of the hotel suite vagabond if you come prepared with strategy and practice. Need some sharpening of your roulette skills? Try it out virtually at sites like 888casino to study up.
4. Sheldon Adelson (Est. Net Worth = $38.9 Billion)
Sheldon Adelson’s name appears on any list of richest people in the world. Adelson was born in 1933 and had a career path somewhat similar in terms of impact on the city of Las Vegas to Steve Wynn, famous for his company, the Las Vegas Sands Corporation. He and his partners purchased the Sands Hotel and Casino in 1988, known as the former establishment where the infamous Rat Pack liked to hang out and gamble. Once Sands became the biggest casino in town, Adelson moved on to other ventures. Namely, one such new venture was the Venitian, one of Vegas’s premier hotels.
In 1999 the Venitian complex had a gaming floor, hotel suites, bars, restaurants, and many other accommodations that visitors could want. Just 14 years later, Adelson had added a second tower to his hotels, bolstering the number of suites to a stunning 4,049. The space even featured a fully operational mall and a gondola ride.
The Venitian is still one of Vegas’s premier hotels, and it, along with its sister property, The Palazzo, is commonly considered the best hotel and game lodgings in the city. Much like Wynn’s properties, this helped redefine the very nature of Vegas. While Wynn and others focused on high-end clientele, Adelson’s properties allowed folks of more modest means to come and enjoy their stay by giving them more to do in Vegas than simply gamble and drink the entire time.
5. Thomas Hull (Est. Net Worth = Unknown)
Sure, Adelson and Wynn might own the biggest hotels in the city as of 2018, but back in 1941, that honor belonged to El Rancho owner Thomas Hull. Once the hotel went up in Las Vegas Boulevard’s southwest corner, it became the city’s biggest location and would pave the way for the juggernaut hotels and casinos to come.
At the time, Hull’s project cost him $500,000 to complete, and at that time, half a million dollars was considered ultra-wealthy. The hotel contained 110 rooms, which might be a tiny thing by today’s standards, but at the time it was revolutionary. Not only did this hotel allow comfortable lodging, but it also featured games, horseback rides, an opera theater, and a swimming pool. Keeping in mind that at the time Vegas was primarily a gambling center, this truly broke the mold.
Vegas still has smaller hotels that offer just a place to sleep and some slot machines, but since Hull’s day, Vegas has become thematic with “entertainment, entertainment, entertainment.” That’s thanks to the El Rancho, which will always hold a special place in the history of Las Vegas.
6. J Walter Thompson (Est. Net Worth = Unknown)
A solid product and its delivery are only half the battle in a town like Vegas. People have to know about it in order to take advantage of it. Without the attention, a Vegas business will make no money. Knowing this fact, the Vegas casino owners enlisted J Walter Thompson’s services, and he delivered, showing the public that Vegas can be more than just a gambling hub, but rather a city with crossover appeal to the general public.
Vegas was but a remote spot in the middle of a desert in a valley, but Thompson’s efforts helped persuade millions of visitors to still come along for the experience. He did this by highlighting dining experiences, stage shows, and other allures outside of gambling to bring people into the city. Clearly, this strategy is still embraced today as many big performers still take residency performing hit shows exclusively in Las Vegas. From riveting family gigs like the Blue Man Group to the infamous performances of Celine Dion, Vegas’s focus on entertainment really helped to shape the city as Thompson envisioned.
Billionaire Entrepreneurs Who Own Las Vegas Empires: Wrapping Up
Casinos in Vegas recognize that while having big-money players at the blackjack, poker, and roulette tables is great, it’s the smaller amount gamblers who come in droves and enjoy themselves with slot machines that really keep the money coming into the city. Vegas, better than any other gambling-centered establishment, has been able to show people that gambling is not something needed for its financial incentive, but just for a fun time.
So what does the due credit state for the men mentioned on this list? The billion-dollar economy of gambling was brought in some part by all of those big-money investors, and the infrastructure they established helped to link gambling to entertainment, making Las Vegas one of the world’s premier destinations.
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Frequently Asked Questions:
When is bulk trash day las Vegas?
The dates for bulk trash day in Las Vegas vary depending on the area and are scheduled by the City of Las Vegas. Residents can check their bulk trash pickup dates by visiting the City of Las Vegas website or calling their waste management department. Typically, bulk trash day occurs twice a year and allows residents to dispose of large items that are too big for regular trash collection.
Is kratom legal in las Vegas?
Kratom is legal in Las Vegas and throughout the state of Nevada. However, it is important to note that kratom’s legal status can vary by state and country. While kratom is legal in many places, it is still not regulated by the FDA and can have potential health risks and adverse effects. Using caution and consulting with a healthcare professional before using kratom is recommended.
Hello, my name is Idammah, and I am the founder of Wolfionaire.com, a personal development, and finance blog focused on motivation, success, and wealth. I am obsessed with studying the world's wealthiest individuals and learning about their path to success. I believe anyone can achieve their financial goals with the right mindset and strategies, and I hope to inspire and empower my readers to pursue their own path to success.
