The Five Richest People in the Gambling Industry

The American magazine Forbes has released its 37th annual list of billionaires from various industries. Out of 2,640 ultra-wealthy individuals, 28 are directly or indirectly linked to the gambling industry.

Every year, millions of gamblers worldwide lose billions of dollars in casinos and gaming halls. At the same time, they spend even more on related entertainment, including hotels, restaurants,
bars, and excursions.

The gambling industry is a massive business. In 2022, its global turnover reached $449 billion. Unsurprisingly, the people at the helm of the biggest gambling enterprises are far from poor. In this article, we will talk about the top five richest people in the world who made their fortunes in gambling. Who are they, and how did they amass such immense wealth?

5. Mark Scheinberg (No. 511 on the Forbes list; $5.2 billion)

Born in Israel, Mark Scheinberg built his career and life in Canada. His most famous and lucrative venture was the PokerStars online poker platform, which he co-founded with his father, Isai Scheinberg.
Since its launch in 2001, PokerStars has become a global leader in online gambling, hosting some of the largest online poker tournaments in the world. However, in 2014, Scheinberg sold PokerStars to Canada’s Amaya Gaming for $4.9 billion.
Now, he focuses on real estate investments and philanthropy, supporting wildlife conservation through his charitable foundation.

4. Denise Coates (No. 352 on the Forbes list; $7 billion)

Thanks to her entrepreneurial instincts, Denise Coates became one of the wealthiest and most influential women in the UK.

At the dawn of the 21st century, in 2000, she recognized the immense potential of the emerging online gambling industry and purchased the domain Bet365.com. To fund the venture, she took a £15 million loan from the Royal Bank of Scotland – a high-risk, high-reward bet that paid off spectacularly.

Today, Bet365 is one of the world’s largest bookmakers, handling over $65 billion in bets annually. The company’s logo also appears on the jerseys of Stoke City, an English football club owned by her father, Peter Coates.

3. Tilman Fertitta (No. 256 on the Forbes list; $8.2 billion)

Like many billionaires, Tilman Fertitta never finished college, dropping out before graduation. Instead, he honed his business skills by working in his father’s restaurant. Over the years, he expanded into restaurants, hotels, cruise ships, and casinos. Today, he owns Golden Nugget, a casino and hotel franchise with locations in five U.S. cities, including Las Vegas and Atlantic City.

In 2017, he also purchased the Houston Rockets NBA team for $2.2 billion.

2. Lui Che Woo (No. 128 on the Forbes list; $15.6 billion)

At 94 years old, Lui Che Woo is the oldest and second-richest person in the gambling industry.
He started his business career in Hong Kong, dealing in construction materials, particularly gravel during the post-war building boom. Later, he expanded into real estate and hospitality. At the age of 73, he decided to shift focus to the luxurious world of casinos. Today, he owns Galaxy Entertainment Group, operating six casinos in Macau, including the $2 billion Galaxy Macau resort.

Macau has since earned the nickname “The Chinese Las Vegas”, with Lui playing a key role in
its transformation.

1. Miriam Adelson (No. 35 on the Forbes list; $36.4 billion)

Miriam Adelson inherited her fortune from her late husband, Sheldon Adelson, a casino mogul and founder of Las Vegas Sands.

The company owns casinos and hotels in the United States and Asia and is the third most profitable gambling company in the world.

Although Miriam spent most of her life as a physician, she is now heavily involved in public and political life in the U.S.. The Adelson family has funded medical research centers and supported Donald Trump’s election campaigns in 2016 and 2020.

Additionally, Miriam actively supports Israel, lobbying for Israeli interests in various sectors of American society.

Gambling Billionaires Exist, But the Biggest Fortunes Come from Other Industries

While billionaires in the gambling industry do exist, the largest fortunes are typically made in other sectors such as oil and gas, telecommunications, banking, and real estate.

For example, Nigeria’s wealthiest individuals have built their fortunes in oil production, cement
manufacturing, telecommunications, and banking.

Source: guardian.ng

About Post Author

Samuel

I am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos.

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Samuel

I am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos.