Despite challenging times for the Las Vegas casino industry, several local gaming investors remain on the Forbes 400 list of the nation’s richest Americans.
The top-ranked Nevadan on this year’s list, released today, is Las Vegas Sands Corp. Chairman and CEO Sheldon Adelson, worth $21.5 billion.
Also on the list from Nevada are Steve Wynn at $2.8 billion, Treasure Island owner Phil Ruffin at $2.4 billion, Elaine Wynn at $1.7 billion and Station Casinos/Ultimate Fighting Championship investors Frank Fertitta III ($1.25 billion) and Lorenzo Fertitta ($1.2 billion).
Like Adelson, the Wynns have seen their company profit from strong results in Macau while the Fertittas maintained their fortunes despite the two-year bankruptcy of Station Casinos that ended this summer.
The only other Nevada resident on the list is Nancy Walton Laurie of Henderson, part of the family that founded Wal-Mart. She’s worth some $2.7 billion.
Adelson, the eighth-richest American according to Forbes, has seen his wealth improve thanks to strong performances by Las Vegas Sands’ casinos in Macau and Singapore. Last year he was ranked No. 13 at $14.7 billion.
"Casino king Sheldon Adelson continues to enjoy a hot hand. His strong position in the casino-crazy Asian markets has pushed stock of Las Vegas Sands up roughly 50 percent to a recent $48. (Shares once traded as low as $1.50 in 2009.)," Forbes wrote in a report on the new Forbes 400 list.
Elsewhere on the list, MGM Resorts International shareholder Kirk Kerkorian is said to be worth $3 billion while Carl Icahn, who controls Tropicana Entertainment and the idled Fontainebleau Resort, is worth some $13 billion, Forbes said.
Microsoft founder Bill Gates tops the new list at $59 billion.