The casino sector, bolstered by traditional gambling hubs like Las Vegas and Macau, is fully expected to maintain its upward trajectory in 2024. This massive industry continues to be one of the most profitable globally. Consisting of land-based physical casinos, virtual gambling platforms, popular leading online slots sites, and new crypto casinos, the betting world is diverse and multi-faceted, with numerous revenue opportunities for smart entrepreneurs.
In fact, predictions indicate that the gambling industry’s revenue will rise at a robust 7.4% compound annual growth rate (CAGR) from $540.27 billion to an incredible $580.36 billion in 2024. That’s a recipe for substantial wealth accumulation, no doubt. Amidst this financial surge, casino owners are reaping the benefits. Let’s delve deeper into the profiles of some of the wealthiest casino owners of 2024.
1. Lui Che Woo (Galaxy Entertainment Group)
Lui Che Woo has amassed billions through his conglomerate, which encompasses real estate, gambling, and hospitality. His name adorns university buildings, and he’s received accolades from Queen Elizabeth. At one point, his net worth even elevated him to the position of Asia’s second richest person. He has a net worth of $11.5 billion and his financial success is a testament to his business intelligence and strategic investments.
2. Johann Graf (Novomatic Group)
The founder and owner of Novomatic, Johann Graf, is an Austrian billionaire with a $10.3 billion net worth. Graf’s rise to prominence in the gambling sector is quite amazing; he began his working life as a butcher before pursuing a career in gaming. Novomatic is a significant participant in the global gaming market today which operates in 31 countries and generates an estimated $4.3 billion in revenues yearly. The company operates more than 500 different slot games, a selection of which can be found at more or less every leading online casino, like those on this list.
3. Lorenzo and Frank Fertitta (Station Casinos)
The brothers Lorenzo and Frank Fertitta have achieved great success leading Station Casinos, significantly influencing the United States gambling sector. Frank is believed to hold an estimated net worth of approximately $2.5 billion, while Lorenzo has a fortune slightly exceeding that figure at an estimated $2.8 billion. Carrying on their father’s legacy, the siblings have capably steered Station Casinos to prosperity through their collaborative leadership of the company. Their accomplishments at the helm of this major gambling enterprise demonstrate astute business acumen and dedication to advancing the industry.
The brothers also became very wealthy from owning the Ultimate Fighting Championship (UFC), which they sold for an astonishing $4 billion in 2016. In addition, they are known for philanthropic efforts such as donating to the University of Southern California to help construct the USC Marshall School of Business.
4. Kazuo Okada (Universal Entertainment Corporation)
Kazuo Okada is a Japanese billionaire businessman with a net worth of $1.5 billion. He founded Universal Entertainment Corporation, which initially focused on manufacturing coin-operated arcade games and later expanded into pachinko machines. Okada’s innovations in slot machine design helped popularize his machines in Japan and Las Vegas. He invested $380 million in Wynn Resorts and played a significant role in the company’s expansion, although he later faced legal battles with Steve Wynn and was ousted from the board due to allegations of financial mismanagement. Okada’s biggest investment is the Okada Manila, a $2.4 billion integrated hotel, resort, and casino in the Philippines. Despite facing legal issues, including accusations of misappropriating funds and conflicts with Philippine regulators, Okada remains a significant figure in the gaming and entertainment industry.
5. Tilman Fertitta (Landry’s, Inc. and Golden Nugget Casinos)
Tilman Fertitta, an American business mogul and television personality, boasts a staggering net worth of $9 billion. As the CEO, chairman, and sole proprietor of Landry’s, Inc., Fertitta’s empire extends beyond the realm of hospitality and into the high-stakes world of professional sports, with his ownership of the NBA’s Houston Rockets. His ventures into the gaming industry have solidified his position among the wealthiest casino owners of 2024, with the Golden Nugget Casinos and Hotels standing as a testament to his success. Fertitta’s journey and entrepreneurial acumen have been showcased on the CNBC reality series “Billion Dollar Buyer,” further highlighting his influence and achievements in the business world.