Las Vegas Sands raises fees at its Vegas casinos
Despite already topping the list as the wealthiest casino owner in the world, Sheldon Adelson apparently thinks it's not enough. The multibillionaire recently raised the daily resort fees at its two Las Vegas-area properties, The Palazzo and The Venetian. The fees equal an 80% increase over the past three years.
As of March 6, the daily fees are now $45. The price now puts the casino giant's properties on top of the list against competitors along the Las Vegas Strip. However, virtually all resort fees for Strip casinos have gone up this year. The only exception, unsurprisingly, has been with Wynn Resorts, which still maintains its fees at $39. Across the board, daily resort fees will now range from $14.95 to $45.
It's not all bad news, though. Sands won't be charging for parking, unlike some of its competitors in the area. MGM Resorts did away with free parking in 2016, which led to the majority of the casinos in the area eliminating free parking, as well.
Adelson, an 84-year-old casino tycoon, is ranked 21st on Forbes' list of the 2018 World's Billionaires. He's the richest casino operator in the world, with an estimated net worth of around $38.5 billion. His closest competitor for the wealthiest casino operator is Lui Che Woo of Galaxy Entertainment Group. He's ranked 50th on the list and is said to be worth $20.1 billion.