5 Entrepreneurs Who Made Money From The Casino Industry
To many, gambling may seem like an illegal and addictive means of making money. Yet, many people continue to patronize jackpots online and other casino games. Also, a selected few have used the medium as a solid platform to build wealth.
In this article, we will examine five entrepreneurs who have utilized their business abilities to make money from the casino world.
For a 15-year-old boy who started life selling ice cream on the East Coast, no one would have thought any part of his life belonged in the Las Vegas casinos. Initially, while he was into the bicycle sale of ice cream, his family operated a bingo parlor.Then, Wynn Snr. was in charge before he passed it on to Steve. Young Steve, who couldn’t handle the business effectively, had to move to Las Vegas in 1967 to avoid bankruptcy.
In a short time, his gradual involvement in the casino industry gave birth to several regional classic outlets. Most of the establishments launched were done in partnership with Elaine Wynn, his wife.
A list of fun centers under the duo’s name includes The Treasure Island, Bellagio, Wynn Las Vegas, and The Mirage, which the government later forcefully took from the family. The Wynn Resorts, a final creation of Steve Wynn, still provides the entire family with massive proceeds annually despite his resignation as founder and CEO of the company.
Lui Che Woo
The Asian business tycoon from Hong Kong is known for his hard work and persistence in the search for money. These traits produced the best form for Lui Che Woo after he took over the position as the wealthiest man in Asia from Li Ka Shing. The year was 2017, 15 years after he introduced Galaxy into the Macau Gambling sector.
Entrepreneurship for Lui started at the age of 13. Due to the post-war living conditions experienced in China, his family was forced to move to Hong Kong, and everyone had to provide for themselves. He resorted to street food retail and eventually built a steady income from the trade.
Ever wondered who’s on top of the Bet365 managerial positions? You can say the name aloud. Denise Coates, the econometric graduate from Sheffield University who later took another course in accounting so she could manage her father’s chain of gambling outlets.
She assumed the director position at 22 and has expanded the company’s proceeds since then. One notable feat achieved by the intelligent entrepreneur was the evolution of customer services into online platforms.
The revenue generated from virtual betting sites is constantly doubling that of brick-and- mortar shops. She sits atop the Forbes list of richest women in the United Kingdom and is among the 500 wealthiest personalities the world has ever produced.
Manuel Lao Hernandez
Born in 1944 in Almeria, Spain, Lao Hernandez is the founder of the largest casino in Spain. The Septuagenarian launched Circa in 1978, and the company primarily comprises several casinos, all in the production and sale of gambling machines.
Over time, concerning his involvement in many businesses, Hernandez has created a balance between entrepreneurship and gambling. His investment firm, Nortia Corporation, still operates efficiently, owning acres of land and two major hotels in Barcelona.
The world’s biggest internet poker brand PokerStars was launched by father and son Isai Scheinberg and Mark Scheinberg. The Canadians have been pegged on the Forbes list of wealthiest families for some time, with a net worth of about $4.1 billion.
Their rise in wealth is primarily due to the connections the family shared with top gambling organizations, and the entrepreneurship mindset of Scheinberg Jr. Mark stands as the face of the family’s deals. Mark is known to be good at sealing deals and raising money for the company.
Gamblers are usually regarded as irresponsible addicts who live off their lives in casinos and slot machines. However, there are traits one can learn from gambling and its enthusiasts.
We can even compare some of these habits to those of entrepreneurs and back up our theories with the fantastic stories of successful casino investors who we have discussed in this article. Whatever the case, let your hard work pay off.
Gambling and business are related in a number of ways. Here are five entrepreneurs who have made a fortune in the casino industr