Sheldon Adelson, CEO of Las Vegas Sands has expressed his desire to establish a casino in Brazil. Last week he visited the South American country, where he discussed plans for a resort complex.
Adelson was in the most populated Brazilian city - São Paulo. Local journalists inquired about the plans of the Las Vegas Sands management. Adelson, who is personally willing to invest $ 40 million, said that Brazil is planning to create one or more resort complexes. Prior to that, Adelson came to Rio de Janeiro last May. Then Brazilian President Michel Temer met with the gambling tycoon and discussed the possibility of building a resort complex worth $ 8 billion in the country.
At the same time, foreign investment in the entertainment industry is facing growing domestic resentment. Gambling has been banned in Brazil since 1941. However, recently, attempts have been made to legalize casinos in the country. Legalization advocates argue that gambling houses will provide income to the country, which will help contain the growing government debt. Recently, two laws have already been changed by legislators. However, the adoption of gambling laws in Brazil has not been easy.
According to Forbes magazine, 84-year-old Adelson is ranked 21st among the richest people in the world. He continues to expand his empire and is not going to stop.
LVS owns five casinos in Macau, gambling houses in Las Vegas and Singapore. The majority of the company's income comes from assets located outside the United States.
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