Sheldon Adelson Sets his Sights on Brazil

Word on the street is that Las Vegas Sands president, and online gambling opponent, Sheldon Adelson, recently met with Rio Mayor, Marcelo Crivella. The mayor says “tourism” was the purpose of the visit, and while this may be true, something much more specific was discussed. Adelson has his eye on the casino market in Rio, and envisions an $8 billion property going up on South American soil.

Watch out Adelson, MGM Resorts’ head honcho, James Murem, also reportedly paid a visit to the Brazilian mayor. Surely, there’s enough room for more than one mogul. Head of Caesars Entertainment, Jan Laverty Jones, has also been spotted in the city along with leaders from Austrian and other European gambling enterprises are looking to Brazil for their next venture.

According to news publication, O Globo, (translated from Portuguese original) “…Adelson has said he intends to raise a $ 8 billion project in Brazil. The idea of the American billionaire is to create a complex along the lines of that of Macao, China, which now generates more than ten thousand direct jobs and brings together convention center and even shopping center. According to a source, the tycoon has said in his meetings that to receive this venture, the city needs to have a 4 to 5 star hotel infrastructure to absorb customers.”

"He's one of the big investors in real estate. Let's talk about tourism. It is surely one of the biggest American fortunes and has a lot of interest for Rio. Maybe you can not help us in Porto Maravilha? I'm going to show him the infrastructure that was made, and who knows, we can install hotels, food courts, cinemas. He is one of the great entrepreneurs in Las Vegas”, said Crivella

Source:

‘Grupos apostam na liberação dos cassinos’, [Groups bet on the release of casinos] oglobo.globo.com, May 10, 2017