Vegas Billionaire List has grown to 8

I think the list was only 3 last year. A lot of returning names

Forbes 400
Rank Name Net Worth Age Residence Source
13 Sheldon Adelson $14.7B 77 Las Vegas, NV casinos, hotels
136 Nancy Walton Laurie $2.6B 59 Henderson, NV Walmart
182 Phillip Ruffin $2.0B 75 Las Vegas, NV casinos, real estate
205 Steve Wynn $1.9B 68 Las Vegas, NV casinos, hotels
332 Alfred Mann $1.2B 84 Las Vegas, NV medical devices
365 Frank Fertitta $1.1B 48 Las Vegas, NV casinos, Ultimate Fighting Championship
382 Elaine Wynn $1.05B 67 Las Vegas, NV hotels
385 Lorenzo Fertitta $1.0B 41 Las Vegas, NV casinos, Ultimate Fighting Championship

Quote: pacomartin

I think the list was only 3 last year. A lot of returning names

Forbes 400
Rank Name Net Worth Age Residence Source
13 Sheldon Adelson $14.7B 77 Las Vegas, NV casinos, hotels
136 Nancy Walton Laurie $2.6B 59 Henderson, NV Walmart
182 Phillip Ruffin $2.0B 75 Las Vegas, NV casinos, real estate
205 Steve Wynn $1.9B 68 Las Vegas, NV casinos, hotels
332 Alfred Mann $1.2B 84 Las Vegas, NV medical devices
365 Frank Fertitta $1.1B 48 Las Vegas, NV casinos, Ultimate Fighting Championship
382 Elaine Wynn $1.05B 67 Las Vegas, NV hotels
385 Lorenzo Fertitta $1.0B 41 Las Vegas, NV casinos, Ultimate Fighting Championship

Yeah, but I'm sure they all lead miserable, unsatisfying lives. Plus, a billion dollars doesn't go as far as it used to.

Quote: pacomartin

365 Frank Fertitta $1.1B 48 Las Vegas, NV casinos, Ultimate Fighting Championship
385 Lorenzo Fertitta $1.0B 41 Las Vegas, NV casinos, Ultimate Fighting Championship

I had no idea there was so much money in that.

Quote: Wizard

I had no idea there was so much money in that.

They don't pay their fighters well. I believe the top notch fighters only clear low to mid six figures per year if that at all. You can look at the payouts to the fighters on sherdog.com after the events. They get like $40K bonus for fight of the night, knockout of the night, submission of the night etc. Their base pay for the fight itself is sometimes less than the bonuses.

Quote: Wizard

I had no idea there was so much money in that.

The guys who ran gladiatorial schools in ancient Rome also made out like bandits.

What happen to Kirk Kerkorian (MGM Mirage)?? He couldn't have fallen off this list. He was worth 16B two years ago.

Quote: Ericayne

What happen to Kirk Kerkorian (MGM Mirage)?? He couldn't have fallen off this list. He was worth 16B two years ago.

Kirk Kerkorian (age 93) is a resident of Bevery Hills, CA even though he made a lot of money in Las Vegas.
His worth (along with MGM Resorts stock) is now a mere $2.9Billion ( Calculated August 2010 ). Forbes 400 rank is #119.

If the Wynns had remained married for the second time around, Steve Wynn would probably have just edged past Kirk.

SHORT STORIES
Nancy Walton Laurie has really never worked (even for Walmart). She still has the record price paid for a home in Nevada ($17 million). People have constructed homes for more money, but not paid out to someone else for a home.
Phillip Ruffin used to be a resident of Kansas
Alfred Mann used to be a resident of Los Angeles
Elaine Wynn never appeared on the list until her second divorce from Steve Wynn
Frank and Lorenzo Fertitta were on the list a few years ago and fell off when Station Casinos declared bankruptcy

William Boyd made the list (in about 2005) but has since fallen off.

I believe that only Sheldon, Nancy Laurie, and Steve Wynn were on the Fortune 400 last year.

Quote: I808

They don't pay their fighters well. I believe the top notch fighters only clear low to mid six figures per year if that at all. You can look at the payouts to the fighters on sherdog.com after the events. They get like $40K bonus for fight of the night, knockout of the night, submission of the night etc. Their base pay for the fight itself is sometimes less than the bonuses.

There's a word for people like that. Pimp.

Quote: pacomartin

Forbes 400
Rank Name Net Worth Age Residence Source
365 Frank Fertitta $1.1B 48 Las Vegas, NV casinos, Ultimate Fighting Championship
385 Lorenzo Fertitta $1.0B 41 Las Vegas, NV casinos, Ultimate Fighting Championship

What's up with Lorenzo? He's slacking off....

Quote: Ayecarumba

Quote: pacomartin

Forbes 400
Rank Name Net Worth Age Residence Source
365 Frank Fertitta $1.1B 48 Las Vegas, NV casinos, Ultimate Fighting Championship
385 Lorenzo Fertitta $1.0B 41 Las Vegas, NV casinos, Ultimate Fighting Championship

What's up with Lorenzo? He's slacking off....

On 05 March 2008 Forbes reported the two brothers as identically $1.3 billion apiece. As I understand it they changed responsibilities a little bit.

#897 Frank Fertitta III
#897 Lorenzo Fertitta

The descrption of the fortunes is identical.

Lorenzo
Father, Frank Fertitta Jr., got start as a dealer for Stardust Casino in Las Vegas. Saw need for casinos aimed at Sin City locals; opened 5,000-square-foot, 100-slot facility away from Strip simply dubbed The Casino 1976. Expanded to include sports book, restaurant, buffet, bingo hall, more gaming; renamed Bingo Palace. Public 1993.

With brother Frank Fertitta III and Colony Capital's Tom Barrack, took company private for $9 billion in cash and assumed debt last year. Purchased professional mixed martial arts league Ultimate Fighting Championship 2001; spent $40 million to improve operations, image. Mass appeal came in 2004 with reality TV show The Ultimate Fighter. Stages monthly pay-per-view events; each averages $30 million in revenue.

Frank
Father, Frank Fertitta Jr., got start as a dealer for Stardust Casino in Las Vegas. Saw need for casinos aimed at Sin City locals; opened 5,000-square-foot, 100-slot facility away from Strip simply dubbed The Casino 1976. Expanded to include sports book, restaurant, buffet, bingo hall, more gaming; renamed Bingo Palace. Public 1993; Frank III soon became chairman, chief executive.

With brother Lorenzo and Colony Capital's Tom Barrack, took company private for $9 billion in cash and assumed debt last year. Purchased professional mixed martial arts league Ultimate Fighting Championship 2001; spent $40 million to improve operations, image. Mass appeal came in 2004 with reality TV show The Ultimate Fighter. Stages monthly pay-per-view events; each averages $30 million in revenue.


The history of the family from when they came over from Palermo Sicily at the turn of the century is partly recounted in the Wikipedia article Sam Maceo . Tilman Fertita is from the same extended family (owns Golden Nugget and Rainforest Cafe among many other restaurant brands).

Interesting that both La Famiglia Fertitta and the Boyds claim to have "invented" the locals' market. For what it's worth, I prefer the Boyd properties, just because they seem to offer a better gamble and I like their "down home" atmosphere. The Stations are generally nicer, however, and have some things to recommend them, e.g., the buffets. I've never played at the Golden Nugget -- been there, don't care for it.

Quote: teddys

Interesting that both La Famiglia Fertitta and the Boyds claim to have "invented" the locals' market.

The Boyd claim is slightly superior since they had small places that go back to the 1960's (Eldorado Casino and Joker's Wild in Henderson, NV).

Fertitta's base their claim on the fact that what is now Palace Station opened three year's earlier than Sam's Town. But Sam's Town was more ambitious casino at the first year of it's birth.

Boyd Corporation seems to have withstood the recession better because they have more diversification in the midwest and Atlantic City while Station Casinos is almost entirely a Las Vegas operation. However, the personal fortune of the Fertitta's still is higher mostly because of the UFC.

Although the Hilton (i.e. the 1980's Golden Nugget) in Atlantic City is plumetting in revenue in the last two years, it still makes more in gaming than the two Golden Nuggets in Nevada (Downtown and Laughlin). Tilman Fertitta seems undaunted by his financial losses in Nevada if he is going to reacquire the Atlantic City property.

I checked the World's billionaire list in March of 2010. No Fertitta's and no Elaine Wynn. The other five people were on the list but with slightly different net worth. Steve Wynn and Sheldon Adelson went up by a lot with their Asian casinos.

73 Sheldon Adelson United States 76 $9.3 United States
363 Nancy Walton Laurie United States 58 $2.7 United States
488 Phillip Ruffin United States 75 $2.0 United States
616 Stephen Wynn United States 68 $1.6 United States
721 Alfred Mann United States 84 $1.4 United States

Sheldon Adelson $9.3 to $14.7B
Steve Wynn $1.6 to $1.9B (despite the divorce)
Elaine Wynn something to $1.05B