Sheldon Adelson

Las Vegas, 1990s-2010s

Born: August 4, 1933, Dorchester, Boston
Died: January 2021 at home in Malibu, California, aged 87
Known for: Founding Las Vegas Sands Corp. in 1988 and building The Venetian
Comdex: Computer trade show he co-founded in 1979; sold in 1995 for $862 million
Old Sands imploded: November 26, 1996
The Venetian: Opened 1999 on the Sands site, built for $1.5 billion
The Palazzo: Opened next door in 2007
Review-Journal: His family bought the Las Vegas Review-Journal in December 2015
Allegiant Stadium: Struck the initial 2016 partnership with the Raiders; withdrew a $650 million pledge in 2017
Venetian sold: Las Vegas Sands sold The Venetian, Palazzo and the expo center for $6.25 billion in February 2022

About

Sheldon Adelson was born in Boston on August 4, 1933, and started out selling newspapers on street corners at 12. His Las Vegas story began with Comdex, a computer dealers' trade show he and partners launched in 1979 at the original MGM Grand, where Horseshoe Las Vegas stands today. The first show drew 167 exhibitors and 3,904 attendees; at its peak it brought more than 200,000 people to Las Vegas each year. In 1995 Adelson and his partners sold Comdex for $862 million.

He had already formed Las Vegas Sands in 1988 to buy the Sands, the Rat Pack-era hotel, and built the Sands Expo and Convention Center beside it. On November 26, 1996, he imploded the Sands and spent $1.5 billion on The Venetian, with its copy of St. Mark's Square and gondola canals, which opened in 1999. Its strategy of pairing a luxury resort with a huge convention center was mocked before opening, according to the company's later CEO, but it became the template for the Strip. The Palazzo followed next door in 2007, creating a complex of more than 7,000 suites.

Adelson said the success of The Venetian's convention model helped his company win licenses in Macao and Singapore, where it later built most of its business. In Las Vegas he became a major political donor and philanthropist. With his wife, Dr. Miriam Adelson, he opened an addiction treatment clinic in Las Vegas in 2000 and gave $50 million to the private Adelson Educational Campus in Summerlin. His family bought the Las Vegas Review-Journal in December 2015.

He also helped set the Raiders' move to Las Vegas in motion. Adelson struck the first partnership with owner Mark Davis in 2016, and his promised private money helped win legislative support for public stadium funding. He withdrew his $650 million pledge in 2017, but Raiders and stadium officials credited his early role. Adelson died in January 2021 at 87. A year later, in February 2022, Las Vegas Sands sold The Venetian, Palazzo and its expo center for $6.25 billion.

What to expect

The Venetian Resort still stands on the site of the old Sands, though Las Vegas Sands no longer owns it: VICI Properties bought the real estate and an Apollo affiliate the operations in February 2022, and the convention center was renamed Venetian Expo. Visitors can still walk the indoor canals and St. Mark's Square replica Adelson commissioned. Sphere, which opened on September 29, 2023, is connected to the Venetian resort complex.

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Good to know

The original Sands hotel was built in 1952; Adelson imploded it on November 26, 1996.
Comdex's first show in 1979 was held at the original MGM Grand, where Bally's (now Horseshoe Las Vegas) later stood.
During the 2020 shutdown, the Review-Journal reports, Adelson kept paying all 10,000 Las Vegas Sands employees plus 1,200 workers in the resort's independently run restaurants.
The Review-Journal is owned by the Adelson family, so its coverage of him carries that disclosure.
After the 2022 sale, the names stayed the same and the Sands Expo became Venetian Expo, per the Associated Press.

Questions about Sheldon Adelson

What did Sheldon Adelson build in Las Vegas?

Adelson bought the Sands hotel through Las Vegas Sands Corp., which he founded in 1988, and built the Sands Expo and Convention Center beside it. He imploded the Sands in 1996 and opened The Venetian on the site in 1999, then added The Palazzo next door in 2007. The combined complex had more than 7,000 suites.

Does Las Vegas Sands still own The Venetian?

No. Las Vegas Sands completed the sale of The Venetian, The Palazzo and its convention center in February 2022 for $6.25 billion. VICI Properties bought the real estate for $4 billion and an affiliate of Apollo Global Management bought the operations for $2.25 billion. The resort kept its name, and the expo center became Venetian Expo.

What was Comdex?

Comdex, short for Computer Dealers Exhibition, was a technology trade show Adelson and partners launched in Las Vegas in 1979 with 167 exhibitors and 3,904 attendees. At its height it drew more than 200,000 people a year. Adelson and his partners sold it in 1995 for $862 million, money he used toward The Venetian.

Why is The Venetian important to Las Vegas history?

It paired a luxury hotel and casino with a large convention center, a model the Review-Journal says was ridiculed before it opened in 1999. The approach proved so successful that convention space now dominates new Strip construction, and Adelson said it helped his company win casino licenses in Macao and Singapore.

What was Adelson's role in bringing the Raiders to Las Vegas?

Adelson struck the initial partnership with Raiders owner Mark Davis in 2016, and his promised private financing helped secure the Nevada Legislature's support for public stadium funding. He withdrew his $650 million commitment in 2017, and the team replaced it with bank financing, but officials credited his early involvement.

When did Sheldon Adelson die?

Sheldon Adelson died in January 2021 at his home in Malibu, California, at age 87, from complications related to treatment for non-Hodgkin lymphoma, according to Las Vegas Sands. He had been the company's chairman and CEO since its founding in 1988.