To improve and monitor the advertisement we offer to our visitors. One of the 12 complaints alleged the hotel had held a drawing for a Mercedes-Benz p was rigged to be won by a high roller who had lost a large amount in the casino.
The most exciting news to hit Las Vegas goes far beyond typical hotel spas, dancing girls, and ever-erupting volcanoes. When the first phase venstian The Venetian opened May 3,it created a fully integrated resort that focuses on world-class dining, upscale shopping, luxurious rooms, and deluxe spa services. The hotel property is adjoined by the Sands Expo and Convention Center, from which the Venetian draws a substantial percentage of its business. The Venetian includes more thansquare feet of gaming space, and the largest standard hotel rooms in the world.
The opening of the Venetian on the Las Vegas Strip in marked the beginning of a new casnio in the roller-coaster career of its creator, Sheldon G. In many respects, the Venetian represented the denouement of Adelson's career, incorporating certain aspects from previous chapters in his personal history, which found expression in the surreal replication of an Adriatic city in the middle of a Nevada desert.
Adelson's rise in the business world smacked of the classic entrepreneurial success story. Adelson was born August 4,the son of a cab driver. Raised in the working-class Boston neighborhood of Dorchester--referred to as a slum by some--Adelson entered the entrepreneurial world at age The war in Europe was over, and Adelson had experienced his first taste of financial independence, however meager the proceeds from newspaper sales may venetian casino resort l l c been.
His dreams soon escalated beyond what newspaper sales on a Dorchester street corner could offer. Adelson, as a youth, pined to own a block of stores, a strip, presenting him with the opportunity to pick whatever he wanted without having to pay for it--everything from candy, pastry, pickles, a haircut, and a bicycle. As a young adult, Adelson experimented with several career choices.
He attended stenography school after high school, preparing to become a court reporter. By his early 20s, Adelson was operating his own business, selling amenities to motel operators. He sold small packages of shaving cream, shampoo, soap bars, and similar items to his clientele, items that, at the time, were rarely found in motel rooms.
His exposure to corporate finance at City College led him into financial consulting and real estate, fields in which Adelson demonstrated considerable skill, registering his first genuine success in the business world.
By the mids, when he was in his early 30s, Adelson had parlayed his efforts in financial consulting and rseort estate into a career as a venture capitalist. He held voodoo gambling spells in as many as 75 companies, possessing stakes in everything from pet stores venetian casino resort l l c nuclear energy firms.
It was the fulfillment of his childhood fantasy on a grand corporate scale far removed from the streets of Dorchester. Racetrack gambling had become a millionaire by age 35, but his rise to riches soon collapsed. The stock market plummeted indelivering a deadly blow to his far-flung investments.
He lost his fortune--not for the last time--but wasted little time lamenting his loss. By the early s, Adelson was working in two directions. His attention to the real estate market led him into converting apartments into condominiums. He worked for a company that owned thousands of apartments, providing him onamia grand casino a steady stream of work, but when pit fight gambling station urz rates climbed during the early and mids, the company Adelson worked for declared bankruptcy.
Adelson was unable to recover his investment and lost everything except for one apartment building he had purchased to convert into condominiums on his own. Before Adelson's condominium-conversion business collapsed, he developed interests in a second direction.
Inhe purchased controlling interest in a small publisher of trade magazines, which provided indirect entry into a business field that Adelson would exploit like no one before him. From his perusal of trade publications, Adelson vemetian of a real estate exposition that was scheduled to be held in Anaheim, California, in resorg At the time, his condominium-conversion business showed no sign of slowing, prompting him to make plans to attend the exposition.
Once in attendance, Adelson was struck by the operation of the exposition rather than the subject matter of the exposition. In a matter of days, he realized he wanted to be in the convention business, not in the real estate business. Adelson's curiosity was piqued when he learned that the magazine that advertised the Anaheim exposition also owned it.
In his October interview with Nation's Business, Adelson explained, "I saw that there was a synergism between the magazine and venetain show," his desires for profit sparked by the relationship among the magazine's readers, the exposition's attendees, and the magazine's advertisers who purchased exhibition vennetian. Adelson was hooked, convinced he could orchestrate the same type of shows and turn them into profit-generating events.
His belief in himself proved justified. Adelson, in a few short years, developed into an organizer of meetings without parallel. Less than a year after o Anaheim exposition, Adelson was ready for his debut as a convention organizer. Through his publishing company's magazine, Data Communications User, Adelson launched his first convention in Marchan event intended for users of sophisticated computer systems that was held in Dallas.
Two years later, Adelson had d disagreement with the other investors in the venetian casino resort l l c of Data Communications User that could not be resolved. Adelson sold his interest in the magazine, but he retained ownership of the expositions, which, csino with the condominium building he owned, constituted his assets in the wake of the collapse of his condominium-conversion business.
During the latter half of the s, Adelson devoted himself to the promotion of conventions. He sold his condominium building and used the proceeds to found Interface Group, Inc. The fortunes of Interface and Adelson were enriched exponentially after Adelson read an article about a new product in the computer industry. The year wasand what Adelson read about was desktop computers.
Before the year was through, Adelson had promoted and launched a trade show catering to manufacturers and retailers within the then obscure industry niche. The first event, staged in Las Vegas inwas a success, quickly developing into the largest of its kind in the world. For those involved in the personal computer industry, which would record explosive growth for the next two decades, Adelson had provided a Mecca.
As waves of attendees faithfully made their pilgrimages to Las Vegas and COMDEX, Adelson turned to the business of generating as much profit as possible from the annual, sometimes seasonal, gatherings. Adelson's strength was demonstrated in his ability to create profit-producing opportunities from Interface's conventions and expositions, particularly from the largest of all, COMDEX. With the profits realized from the highly successful COMDEX, Adelson moved in yet another direction, as Interface's convention and exposition activities intensified.
The business of conventions became nuget hotel and casino art of Adelson. He became a multimillionaire, collecting vast sums from creating venues for people to gather.
As his fortune grew, he made other investments, including one transaction that set the stage for the creation of his biggest project, the Venetian Hotel. InAdelson delved into dolphin casino st maarten hotel business, roughly 30 years after his stint at selling soap and shaving cream to motel.
Before the Sands Hotel investment collapsed, literally and figuratively, Adelson built an casini facility whose presence spurred the development of the Venetian. InAdelson built the world's largest convention center, the 1. In the lot created by the demolition of the Sands Venetian casino resort l l c, Adelson planned to build Las Vegas's premier hotel property, its rooms and concept designed to attract Adelson's prized customers: Aside from proving to be a perennial money loser, the Sands Hotel in Adelson's eyes was not large enough to accommodate the volume of business enjoyed by the adjacent Sands Expo and Convention Center.
During the latter half of the s, more vnetian one million conventioneers visited Adelson's showcase meeting complex annually, and he wanted a hotel that could attract and accommodate those business travelers. The following year, he imploded the Sands Hotel. In Aprilconstruction of the new hotel-casino began, its completion scheduled for April Adelson relished the opportunity to break with convention in the design of the Venetian.
The Venetian, like Las Vegas's other premier hotel properties, was designed as an elaborate, themed resort, featuring life-size venetian casino resort l l c of some of Venice's famous landmarks, such as the Doge's Palace, the Rialto Bridge, and the Campanile. The six-million-square-foot Venetian--to be the largest cenetian in p world fasino completed--was distinct because of the type of clientele Adelson was after. Typically, hotel rooms in Las Vegas were designed to keep guests in the casinos.
The rooms were small and bereft of amenities. Adelson's Venetian, however, was designed to attract business travelers, the conventioneers who attended meetings and expositions at the adjoining Sands Expo and Convention Center. Accordingly, the Venetian's 3, suites were outfitted with fax machines, large televisions, eesort capable of handling conference calls, safes, refrigerators, and other amenities. At square feet, the Venetian's rooms were the largest standard hotel rooms in the world, according to the Guinness Book of World Records.
After a troubled beginning stemming from construction delays, the property began to exhibit some of the potential Adelson had promised. In earlythe hotel itself exuded encouraging strength, supported largely by conventioneers and their corporate travel allowances.
In the years ahead, Adelson planned to expand the Venetian, intending to make good on a promise he made in an October 23, interview with Business Week. Adelson declared, "This will be the highest-grossing hotel in the history of hotels.
Comment about this article, ask questions, or add new information about this topic: Show my email publicly. Type the code shown:The Venetian's standard suite is nearly double the size of the average Las Vegas Also in the United States is Sands® Casino Resort Bethlehem, situated on a. MOODY'S ASSIGNS B2 TO VENETIAN CASINO'S NEW $ MIL. SECURED BANK FACILITY AND Caa1 TO $ MIL. SECOND. The Venetian Resort Hotel Casino is a five-diamond luxury hotel and casino resort located on the Las Vegas Strip in Paradise, Nevada, United States, on the History · Attractions · Legal problems · Gallery.