Five Rich Casino Owners in the United States
By
Mike J. Davies
Editor in Chief at Casinos.US Updated: 06/13/2023
Mike is our Senior Editor and experienced gambling strategist. A former hockey player, he transitioned to the casino industry after finishing his B.A. in English. Blackjack systems, online casino guides, gambling terms, and more – Mike is familiar with all fine points of gambling.
Five Rich Casino Owners
- Rich Casino Owners: The American Dream
- Richest Casino Owners: Top US Tycoons
- Sheldon Adelson – $33.5 Billion
- Tilman Fertitta – $7.9 Billion
- Phil Ruffin – $3.1 Billion
- Lorenzo and Frank Fertitta III – $2.6 Billion
- Elaine Wynn – $1.7 Billion
- Philanthropy of Wealthy Casino Owners
- Frequently Asked Questions
What characterizes the richest casino owners in the US? Many people would agree they’d probably need to be a billionaire. Today, we’re going to look at the richest casino owners in the US.
Discover the stories of casino tycoons like Sheldon Adelson, Elaine Wynn, and Tilman Fertitta, as well as some of the country’s other billionaire casino owners. Plus, learn about the ways these rich casino owners give back to their communities.
Rich Casino Owners: The American Dream
Numerous rich casino owners have achieved remarkable success via their entrepreneurial spirit in America. Some say this proves the American Dream is as alive today as it ever was. This post will delve into the lives of the most prosperous and powerful casino owners in the United States. We’ll show you their stories, their ascent to fame, and how they have impacted their industry, along with information about how much money they’re worth.
Sheldon Adelson: Top of the Richest Casino Owners List – $33.5 Billion
Sheldon Adelson, often referred to as the gambling giant, was one of the most recognizable figures in the casino industry before his death – as well as the richest. We’ve left him on this list despite his death, as he was such a huge figure in the US casino industry.
Born in 1933, he experimented in several non-gambling businesses before shifting his focus to casinos. Before his death, he was the richest casino owner in US history, worth a staggering $33.5 billion.
As the founder, chairman, and CEO of Las Vegas Sands Corporation, Adelson was responsible for the construction of several iconic casinos, including the Venetian Resort Hotel Casino and the Palazzo.
He also managed to succeed outside of the US. For example, he expanded his empire to include resorts in Macau and Singapore, all of which added to his huge net worth.
While he was the richest casino owner in the US, Adelson was also very well-known for his philanthropy. He generously contributed to medical research, Jewish causes, and Republican political candidates. Although he faced health challenges in his later years, Adelson remained determined to help those in need, and continued doing so until his death in 2021.
Tilman Fertitta – $7.9 Billion
Tilman Fertitta, an entrepreneur and the CEO of Landry’s Inc., has established himself as a force to be reckoned with in the casino industry. Unlike many of the other names on this page, Fertitta’s empire extends beyond casinos, as he also runs hospitality, entertainment and restaurant businesses. Today, he’s worth an estimated $7.9 billion.
His diverse business portfolio includes the Golden Nugget Casino chain and well-known restaurant brands such as Morton’s Steakhouse and Bubba Gump Shrimp Co. He also made headline news in 2017, when it was announced he was purchasing the NBA’s Houston Rockets.
Many argue that Fertitta’s strong will and bold approach to business are behind his success. For example, under his leadership, Landry’s Inc. has flourished and become a major player in the hospitality and gaming industries.
He used a clever strategy of buying and then refurbishing struggling properties, and this technique allowed him to build his empire for a fraction of the cost it would have been otherwise. He has also expanded into the digital world with ventures such as the Golden nugget online casino.
Phil Ruffin – $3.1 Billion
Phil Ruffin is an incredible character, and if you’re a poker fan, you may recognize the name, as he appeared in a couple of seasons of HBO’s High Stakes Poker. He’s a casual poker player, though, his main focus is on maintaining his status as one of America’s most successful entrepreneurs.
According to Forbes’ 2021 estimation, his net worth has now surpassed $3 billion, easily earning him a spot on the list of the richest casino owners in the US.
After abandoning college at age 22 back in 1954, he went from job-to-job, including making airplane components and selling office resources. Eventually, he started up a chain of convenience stores. After he’d earned enough money, he went into the hotel business, and in 1995, when he was 60 years old, he entered the casino industry.
To begin, he purchased the Crystal Palace Resort in the Bahamas. Several years later, he made his second purchase: The Frontier Hotel and Casino in Las Vegas. Today, he owns two of the most well-known and iconic casinos in Vegas: Treasure Island and Circus Circus. He also has many other business interests, including real estate and oil production.
Lorenzo and Frank Fertitta III – $2.6 Billion
We’ve already talked about one Fertitta – and now you’re about to learn about the two brothers, who are Tilman’s third cousins. Together, their estimated fortune stands at $2.6 billion, and despite operating independently from one another at times, their careers look very alike on paper.
Their journey in the casino industry began at a young age, because of what their father did for them. He was a man called Frank Fertitta Jr., and he established Station Casinos back in 1976. Originally, Station Casinos was intended as a local hotspot for Las Vegas residents to enjoy. Over time, it has emerged to become one of the mainstream gambling establishments in the city.
Having gained experience working at Station Casinos during their youth, Lorenzo and Frank carried the family legacy forward. Together, they successfully managed to complete an IPO. This happened once their dad decided, in 1993, to retire.
In addition to their casino ventures, the two brothers were both also early investors in the Ultimate Fighting Championship. They acquired the company in 2001 for a mere $2 million. By 2016, the brothers sold their stakes for a staggering $4 billion.
Currently, Station Casinos Inc. owns an array of hotel-casinos, such as Henderson’s Sunset Stations, and Las Vegas’ Red Rock Casino. Their company also looks after many land-based casinos on behalf of third-party clients.
Elaine Wynn – $1.7 Billion
Often called the “Queen of Las Vegas”, Elaine Wynn is a remarkable woman who, in collaboration with her former husband Steve, helped to shape the modern face of Vegas we’re so used to seeing today. Initially, they both founded Mirage Resorts back in 1973. Once this venture proved a success, they went on to build others, including Treasure Island, The Bellagio, and The Mirage.
These casinos revolutionized Las Vegas, and they set a very high standard that competitors had no choice but to follow. As a result of their success building new casinos, in 2000, they made the decision to sell Mirage Resort to a man called Kirk Kerkorian. He paid a staggering $6.4 billion for the company. However, their journey didn’t stop there, and their next project was Wynn Resorts.
Their inaugural property, the prestigious Wynn Las Vegas hotel and casino, opened its doors in April 2005 with a construction cost of $2.7 billion. Wynn Resorts has since expanded its operations to six hotel-casinos: one in Boston, two in Las Vegas, and three in Macau, the autonomous Chinese region famed for its casinos. They have also expanded into the world of online casinos, with Wynn casino sites operating in Michigan and New Jersey.
Following their divorce in 2010, Steve and Elaine evenly divided their 38% ownership in the Wynn company. Steve Wynn’s resignation as CEO of Wynn Resorts happened in 2018, as did the subsequent sale of most of his shares, after some Wynn staff members came forward and accused him of sexual misconduct. As a result of this, today, Elaine is the company’s second-largest shareholder.
Below, you can see a list of another five of the richest casino owners from outside the US. As you’ll see, many are owners of casinos in Asia.
| Casino Owner | Estimated Net Worth |
|---|---|
| Lui Che Woo | $19 Billion |
| Johann Graf | $4.9 Billion |
| James Packer | $3.2 Billion |
| Pansy Ho | $3.2 Billion |
| Chen Lip Keong | $2.4 million |
Philanthropy of Wealthy Casino Owners
Philanthropy plays a significant role in the lives of many wealthy casino owners who use their vast fortunes to give back to their communities and support causes they connect with.
The people we’ve talked about on this page have reached a level of wealth that is hard to surpass – and at a certain point, earning more money simply doesn’t offer any real purpose. That’s why a lot of the world’s richest people get involved with philanthropy work – although admittedly, for some it’s just a way of stroking their own egos.
Take Sheldon Adelson, for example. Before his death, he was well-known for his generous contributions to medical research, Jewish causes, and various political campaigns.
Elaine Wynn is another great example. She’s consistently supported charitable organizations, both in Las Vegas and other parts of the US. Wynn’s philanthropy focuses mainly on education, healthcare, and the arts, and she’s talked about wanting to create a brighter future for the next generation.
