Adelson and Wynn Rated One of the Best Business Minds by Forbes

Sheldon Adelson and Steve WynnOn September 19, 2017, Forbes celebrated its 100th anniversary and released a special edition featuring “World’s 100 Greatest Living Business Minds”. The special edition also included stories, insights, strategies, and tips that can be useful for the next 100 years.

Forbes released a list of top 100 business minds, and some iconic people were included in that list.

Some of the critical people included on the list were US President Donald Trump, Mark Zuckerberg, Paul McCartney, Warren Buffet, Bill Gates, Oprah Winfrey and Sir Richard Branson.

The list also included two crucial casino tycoon named Steve Wynn and Sheldon Adelson. Adelson who is 84 years old at the moment is the Chairperson of Las Vegas Sands Corp which is regarded as the most prominent casino company regarding overall revenue. Steve Wynn is 75 years old and Chairman of Wynn Resorts that is known for its iconic casinos in Macau and Las Vegas. These gaming tycoons also featured on the 2017 Forbes list of billionaires that was published in the first half of 2017.

Las Vegas Sands Corp is the owner of some of the best casinos in the world like Sands Macau, Parisian Macau, Marina Bay Sands in Singapore, Venetian Las Vegas, and Palazzo Las Vegas. Wynn Resorts owns its properties covering Encore at Wynn Las Vegas and Wynn Las Vegas, Wynn Palace at Cotai and the recently opened Wynn National Harbor casino in Everett, Massachusetts.

Wynn and Adelson shared their experience about building their gaming empire and the strategies implemented by them in day to day operation that helped in establishing their respective companies to the best of their abilities.

Adelson made the following statement while talking to the media:

When I was 16, I bought a bunch of vending machines. At the time, they were set up inside factories, which meant people only bought snacks during the 40-hour workweek. So I moved the machines into gas stations, where cab drivers were lining up 24 hours a day, seven days a week. The money came rolling in.

He further said that he took the same business model and implemented it for building casinos in Las Vegas which turned out to be highly successful. Since China is the most populated country in the world with billions of people, he realised it would be great business sense to build something which is similar to Las Vegas Strip, and this is how Sands Corp ended up doing business in Macau.

Wynn said that one of the most important reasons as to why his casinos are successful is because he has been focused on building self-esteem amongst the employees who have paid off nicely regarding overall customer service.

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