Billionaire Named Top Investor in iGaming by Forbes

Billionaire Named Top Investor in iGaming by Forbes

P repare to have your head spinning with numbers and figures. This year’s Forbes list of the wealthiest people in the world is different in one way to all the previous ones: it has significantly more casino tycoons than before. For the second year in a row, Sheldon Adelson, who is ranked as 21st among the world’s wealthiest billionaires and is chairman and chief executive of Las Vegas Sands Corp. casino development company, is the wealthiest iGaming sector investor.

The US-based magazine issue that was published this past Tuesday revealed that the number of billionaires rose by 8.1% since 2017 – making this the most successful year for rich folk, to put it bluntly. Adelson’s company operates casinos in Macau and Singapore and is apparently doing alright, because Adelson’s net worth rose by $8.1 billion year-on-year: he is now worth $38.5 billion compared to $30.4 billion in 2017. To illustrate just how competitive this year was in the world of billionaires, Adelson dropped one position in the overall ranking despite increasing his net worth by a significant sum.

He is way ahead of the next biggest iGaming investor, Lui Che Woon, who, with $20.1 billion net worth, was ranked 50th. Woon is the founder and chairman of Galaxy Entertainment Group based in Macau. The third-richest gaming investor is Austrian, Johann Grad, founder and CEO of Novomatic and he’s ranked as 186th with an estimated net worth of $8.1 billion.

Sheldon Adelson was one of the loudest (and, no doubt, one of the most financially convincing) proponents of online gambling in the US. He plans to help multiple US states regulate and legalize online gambling, with only New Jersey, Nevada and Delaware offering such services at present moment.

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