Only Sheldon Adelson could manage to work his crusade against online gaming into a speech about leadership. And this is exactly what the 80-year-old did while speaking to students at the University of Nevada, Las Vegas.
Adelson was part of a series of speeches called the “Conversations on Being Successful.” In terms of financial success, there are few better to talk on the subject than the CEO of Las Vegas Sands, who’s worth almost $40 billion. But as you’ll see, he also spliced in some ridiculously hypocritical comments on internet gaming.
Adelson says “Be willing to take Risks”
Before the billionaire got on the subject of online gaming, he did offer some good advice. “Every time I succeeded, it was when I did something different,” he said. “Be willing to dream, and above all, be willing to take risks.”
When Adelson speaks of risks, there were none greater than when Sands became the first U.S. casino corporation to enter the Macau market. A partially submerged swampland up until the early 2000s, Macau seemed like the craziest of places to stake a new casino empire. But the decision to build establishments like Venetian Macao, Sands Cotai and Sands Macao is the sole reason why Adelson’s fortune has skyrocketed today.
Adelson’s Speech Takes Terrible Turn
During the UNLV speech, Forbes’ ninth richest man spoke about how he came from a very poor background. And he said that his dad would go to the race track after work sometimes and gamble all of his paycheck away. After this story, Adelson took another shot at online gaming, saying:
I see what exploitation of the poor and vulnerable people does to a family. I don’t want a casino to be put on every kitchen table or iPad. I know I’m a Republican and I’m not supposed to be socially sensitive, but I am socially sensitive.
Was Adelson even aware of the hypocrisy behind this statement? Here’s a guy who has made billions off of “vulnerable people” in his casinos. And now all of the sudden he’s the moral compass behind being “socially sensitive” to problem gamblers?
The rise from poverty to a wealthy casino magnate that Adelson described is no doubt impressive. But for as much smarts and ambition as he showed during this ascension, Adelson is proving to be equally as stupid and hypocritical with some of his attacks against internet gaming.