Las Vegas Resort Magnate Sheldon Adelson Passes Away at 87
January 12, 2021
Las Vegas Sands Chairman and Chief Executive Officer Sheldon G. Adelson passed away Monday evening after a two-year battle with non-Hodgkin’s lymphoma. He was 87.
Known as one of the most successful luxury resort developers and transformational figures in Las Vegas history, Adelson founded Las Vegas Sands Corp in 1988. Under his leadership, the company innovated the successful integrated resort and convention center development model that has since become a staple in the Las Vegas resort industry, and one that has been replicated in other leading destinations.
Said his wife, Dr. Miriam Adelson, in a statement: “Much has been written and said about how Sheldon, the son of poor immigrants, rose to the pinnacle of business success on the strength of grit and genius, inspiration and integrity. His was an all-American story of entrepreneurship. When Sheldon launched a new venture, the world looked on with anticipation.”
The young Adelson’s innovative and hard-working entrepreneurial spirit led him to launching the first technology and computing trade show, Comdex, in Las Vegas in 1979, which soon became the largest Las Vegas convention that drew in more than 200,000 attendees annually.
After selling the show in 1995 for nearly $862 million, he took those profits to help set the stage for luxury casino and conference-centric enterprises that included purchasing the aging Sands Hotel and Casino, building the 1.8 million-square-foot Sands Expo & Convention Center behind it, and imploding the Sands to make way for trend-setting opulence of The Venetian Hotel & Casino, which opened in 1999.
Besides The Venetian and Palazzo in Las Vegas, his successful properties included lucrative Sands resort-casinos in Asia, specifically in the popular Chinese gambling destination of Macao and Singapore.
Many from the hospitality and convention community remember Adelson fondly as a generous philanthropist and loyal employer who cared about his workers. After COVID-19 caused Nevada resorts to close in March 2020, the casino magnate continued providing full pay and benefits to all 10,000 Las Vegas Sands Corp. employees as well as the 1,200 employees working in the resorts’ independently owned restaurants.
“Sheldon Adelson was a recognized leader in the exhibition industry for decades,” said David Audrain, executive director of SISO and CEO of ExpoDevCo. “Not only did he create and build Comdex as one of the largest and most recognized events and brands in the world at the time, but he also helped many people working for him become successful leaders themselves. SISO awarded Adelson our most prestigious Krakoff Award in 2014.”
He continued, “Sheldon Adelson will most certainly be remembered as a major force in our industry who understood and supported the needs and opportunities for growth and success. SISO sends our deepest condolences to his personal and business families.”
Douglas Emslie, chair of SISO and Tarsus Group managing director, added, “Sheldon Adelson was a true legend in the exhibition industry. He built one of the major exhibition brands in technology and the Sands Convention Center that not only revolutionized the resort, casino and exhibition markets in Las Vegas, but also in Macau and Singapore. He was a major personality, a showman, but most of all one-of-a-kind entrepreneur."
Maureen Robinson, director of sales at South Point Hotel Casino & Spa, remembered Adelson as the man who brought conventions to Las Vegas.
“I worked with him on his first Comdex show in 1979 and went back and forth on how much in commissions he should get,” Robinson mused. “I again ended up working for him when I went to work at the Sands Hotel in 1992. I watched him blow that up and begin on the Venetian, which I was lucky enough to open up. He was one of the greatest business man I knew! I only respected three men in Las Vegas: Kirk Kerkorian, Sheldon Adelson and Michael Gaughan – business men that cared about their employees.”
According to multiple news reports, Adelson was considering selling his Las Vegas Sands resort properties last fall.
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
Comments
Sheldon was loyal to his…
Sheldon was loyal to his staff, certainly a visionary but one who would put his money where his mouth is. He never accepted failure and was an icon for the Trade Show industry because he was never afraid to be different. Of course he never wanted to be first, as Sheldon used to say, "Pioneers wind up with arrows in their back". He was a mentor to me and taught me more about marketing in a week than I could ever have gotten with a year of experience.
Sheldon will be dearly missed.
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