Several years ago, the Macau government opened the Sands casino market, but Las Vegas capital hesitated to see the "China risk."
But Sands Group Chairman Sheldon Adelson has boldly "bought" Macau, dominating the Asian market.
Sands, which opened on May 15, 2004 after breaking ground on "Sands Macau" in August 2002, has created a huge stir in Macau’s Sands casino market, which has a dull, low ceiling atmosphere.
The Sands Casino operations in Macau were like a new paradise for the Chinese as tens of meters of tall ceilings, colorful lights and countless singers and dancers came out and offered songs and dances.
Macau Sands, which invested $240 million, began investing in Macau by MGM and Winn after news broke in Las Vegas that it had collected all of its principal in 10 months. The media and Sandscasino industry have heard about the big success of Sands Macau and coined the term "sands effect."
According to the data, Adelson was born in Boston as the son of a taxi driver. His father is a Jewish native and has a poor taxi driver as his father, so his memories as a child only remind him of his impoverished life," he said.
However, this poverty led him to think early on that he had to make money from an early age.
At the age of 12, he borrowed $200 from his uncle and started a newspaper stand business, his first start for a self-made artist. Since then, he has experienced ice cream sales, shorthand and mortgage brokers through candy shops.
This is why after graduating from high school, he had to be much more diverse and colorful than his peers in his business to become a businessman.
After growing up, he also played as an investment advisor, president of a travel agency and venture capitalist. Having learned corporate accounting and real estate in his spare time, he served as an Army soldier and served in various fields, including serving as a court stenographer on Wall Street in New York.
Having expanded his business considerably in 1960, he made a fortune in the early 1960s by consulting for stock trading on Wall Street in New York. He later returned to his hometown of Boston, where he invested in a company, held more than a dozen companies, and made a big profit by investing in a travel agency called AITS.
If the stock had been disposed of right away, it would have been a cash cow, but it kept holding on until the end of the 1960s, when the stock market crash caused it to become deeper into debt.
Having experienced a wide range of flat-landers in life since he was young, he sought a comeback through real estate brokerage in Boston this time, but failed again as the real estate market entered into a recession.
Although ordinary people would give up on their business and seek a career after a series of failures, he tries to make a comeback and comes up with a new business plan.
In 1971, he had a chance. Adelson, who was interested in computers, has taken over the management of a small company that publishes a computer magazine called Maintain Data Communication.
Adelson, who attended an apartment exhibition in Anaheim, California, opened his eyes to a new world after learning that an apartment-related magazine hosted the exhibition.
He immediately conceived a new business, noting that his magazine can also host a computer exhibition.
Finally, in 1973 in Dallas, he held his first computer exhibition.
And two years later, he continued to host a computer exhibition after disposing of his stake in the magazine in 1975. Confident of his business success through the exhibition, he will dispose of the apartment he owned and start an interface group in Needham, Massachusetts.
The Comdex show has since developed into the world's largest exhibition in Las Vegas. As it happened, global PC brands such as IBM and Apple Computer have developed into global companies with the Las Vegas Comdex Show. The convention project has drawn attention in the gambling city of Las Vegas.
The Comdex show's run to the Tantandae was a huge success in the late 1980s, with the interface group's net profit reaching $250 million, while Adelson rose as the No. 1 player in the convention sector.
The 1990 Comdex show in Las Vegas took part in more than 2,200 companies around the world and drew more than 220,000 visitors.
At the Comdex Show in Las Vegas, Adelson was paid $50 per square foot (30 centimeters long) as a fee.
He made a fortune from a very high-yield business, paying 15 cents per square foot for a hotel that rented a Las Vegas convention center. It was like swimming in the ground.
Making a fortune from the convention business, he has expanded his business stage by holding a Comdex show in other cities in the U.S. and in Japan. Finally, Adelson will also have a chance to enter the casino business.
In 1988, Adelson went to a convention center to be used exclusively by interface joint investors in Las Vegas.
Finally, Adelson has agreed to buy the Sands Hotel, owned by Kirk Kurkorian, for $128 million.
Adelson will invest $150 million in the Sands Hotel to drastically expand its convention center and invest another $60 million in building an exhibition hall exclusively for the interface group. In addition, a large shopping mall was added to create a new Sands Hotel, which opened in 1989.
In 1995, Son Jung-eun, chairman of Softbank in Japan, showed interest in the Comdex show, and in the end, Son sold the rights to the Comdex show for an astronomical amount of money of $860 million. Through the deal at the time, Adelson pocketed $500 million.
Adelson then opened Las Vegas’ first large convention center, the Sands Expo Center, by attracting Wall Street capital in New York, but when it failed to make any profit, it would start a Sands casino resort project.
Married in 1991 to his second wife Miriam, he was inspired by a "blinking eye" honeymoon in Venice, Italy.
Having had a different eye for things, he decided to recreate Benecia, the city of water, in Las Vegas after demolishing the Las Vegas Sands Hotel in 1996 in consideration of new business items on his honeymoon.
The Venetian resort, which is designed for urban renewal projects, has 3,000 hotel rooms, large convention centers, shopping malls and Sands casinos that allow large gatherings and exhibitions, and allows boatmen to make waterways and operate gondolas by singing songs.
The $1.5 billion Las Vegas Venetian theme park hotel & resort has drawn the attention of Las Vegas as it opened in 1999, and has excited tourists.
Adelson became the author of the "re-creation of the city" myth through the Las Vegas Venetian, while also being nicknamed a creative businessman who combines conventions and casinos.
He evaluated him as an innovative manager who pioneered a new genre called "Complex Resort," where meetings and exhibitions are held here during the week and people visit all week on weekends with casinos and leisure.
The Las Vegas Sands Corporation, which holds more than half of the shares, is known to be the world's largest Sands casino, convention and exhibition company.
After Venecia was a huge success, when Macau said it was opening up the casino market in 2001, it was the first to put a flag on Macau.
After Sands Macau, which invested $240 million, succeeded, it poured $700 million into the new town of Kotai, which was created by reclaiming the sea, opening the second Venetia in 2007.
It has operated 3,000 guest rooms in a suite hotel, 300 Chopin centers, some 100 restaurants, a convention center with 15,000 seats and a ship route and gondola that seemed to have moved Venice, Italy.
In addition, it has created the "Sands Cotai Central" following the Four Seasons Hotel in Kotai. There are three five-star hotels -- Conrad, Holiday Inn and Sheraton Hotel -- connected with Sands casinos, shopping centers and restaurants.
In September 2016, it opened the Parisian Hotel Resort, which moved the Eiffel Tower in Paris near Sands Kotai Central.
Sands Group has invested more than $12 billion in Macau's Kotai district, and its hotel rooms alone are close to 20,000.
Adelson has been the most active CEO since 2010 to enter the Sands casino resort market in South Korea. It threatened Kangwon Land by promising to invest between 5 trillion won and 10 trillion won in open casinos in Seoul, Busan, Gunsan and Saemangeum.
Dubbed the "King of Sands Casino," he is now rushing to Japan to invest $10 billion in Tokyo or Osaka after Japan opened its casino market.
Adelson sponsored a large sum of money to Donald Trump, who entered the U.S. presidential election in 2016, and even after his election, he donated 5.6 billion won ($5 million) to impress Trump as the biggest donor.
Having become the richest Jewish billionaire, he believes that hereditary succession of wealth is undesirable.
Known for giving his two sons pocket money as points instead of cash, he gives them points if they study hard or have a good relationship with friends, and cuts points if they do something undesirable.
I hope today will be a day full of good luck.
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