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Business tycoons that have made money from gambling

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Forbes has identified these people as the world’s wealthiest people. In this list, many people have amassed their fortune through casinos and gambling houses like kalamanthana. Some of them have inherited their wealth, but some of them have risen by their sheer hard work and knack for business. There is

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Lui Che Woo- Galaxy

Lui Che Woo is a gambling business tycoon from Hong Kong. He replaced Li Ka Shing as the richest man in Asia in 2017, as reported by Bloomberg. Lui’s family left China and came to Hong Kong in 1934 as living conditions there deteriorated due to war. It is said that Lui was forced to make money by selling food on the streets. He started earning at a young age, was 13.

His hard work and persistence changed his fortune after the second World War. He started a business to import machinery from Okinawa to Hong Kong. The construction machinery belonged to America, who left it after the war.

It appears like he never retired. He started Galaxy in 2002 and entered the Macau Gambling market. He emerged to become the next gambling mogul after Stanley Ho, who enjoyed the title for four long decades.

Denise Coates- Bet365

Denise Coates attended Sheffield University with a degree in econometrics. She took training to become an accountant and started managing his father’s chain of betting shops. Staffordshire University has revealed that she became the managing director of the betting business at the young age of 22. She gradually expanded the chain and launched the online business. Now, her gambling site earns her decent revenue. Coates family is the owner of Stoke City Football Club.

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Last year, she paid herself £422 million as salary and £48 million in dividends. It was more than 50% of what she was paid in 2019 as per the online filings of an online bookmaker.

With this kind of salary, she has become one of the world’s highest-paid officials. She was included in Forbe’s list of richest women of the UK and 500 richest personalities in the world, becoming a part of Bloomberg’s Billionaires Index.

Denise Coates

Steve Wynn- Wynn Resorts

Who would have imagined that a 15-year-old boy who sells ice-creams on bicycles would become a casino magnate of Las Vegas?  Steve Wynn used to live with his family on East Coast. His father ran a bingo parlour. Wynn took over the business, which was on the verge of bankruptcy and flew it to Las Vegas in 1967. Gradually, he rose in the casino business and founded Las Vegas’s most classic casinos with his wife Elaine Wynn like The Mirage, The Treasure Island, Bellagio, Wynn Las Vegas. MGM took The Mirage from him in 2002 in a hostile takeover, and wynn then founded the Wynn Resorts. However, he had to resign as its CEO owing to allegations of misconduct against him. His company still manages Wynn Las Vegas and Wynn Macau.

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Manuel Lao Hernandez- Cirsa, Largest Casino of Spain

Lao Hernandez was born in Almeria, Andalusia, Spain in 1944. He founded Circa in 1978. The company owns many casinos around the world and is primarily involved in manufacturing and selling casino machines. Lao expanded his international operations in 1990 with Dominican Republican. After a year, he expanded to Venezuela. Now, his company operates in nine countries, according to Forbes. In April 2018, it was reported that he sold Circa to Blackstone for $2.6 billion. He also owns an investment firm, Nortia Corporation, through which he owns a lot of rural land in Spain and two hotels in Barcelona.

Tilman Fertitta- The World’s Richest Restauranteur

Fertitta’s love for serving people runs in his generation. His grandfather Vic Fertitta was the owner of a gambling house known as Balinese Room. His guest was high profile people like Frank Sinatra and Marx Brothers. Fertitta’s father ran a seafood hotel in Galveston Hotel, where he used to peel shrimps after he finished school. From here, Fertitta saw learned the art of materializing hospitality. He owns the chain of Golden Nugget Casinos, Kemah’s Broadwalk in Houston, Landry’s Restaurant, and Tower of America in San Antonio. Forbes has included him in the list of billionaires with a net worth of $3 billion.

Mark Scheinberg- PokerStars

Forbes has pegged the Canadian’s net worth at $4.1 billion. He and his father, Isai Scheinberg, launched the world’s biggest online poker company, PokerStars. PokerStars and Full Tilt Poker are owned by Rational Group, which is a subsidiary of Oldford Group Limited. The company was sold to Amaya Gaming Group Inc. for a whopping all-cash transaction worth $4.9 billion. This would make the Montreal based company one of the world’s largest online gambling gaming companies. The deal was supported by Blackstone Group, which also acquired Circa.

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