
Episode 94 - The Casino Kings: Sheldon Adelson and Steve Wynn
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The casino industry creates billionaires who wield a unique and potent form of political power. This episode focuses on the two titans who transformed Las Vegas and Macau and used their fortunes to become kingmakers in American politics: Sheldon Adelson and Steve Wynn. We explore how Adelson, the founder of Las Vegas Sands, revolutionized the industry with his focus on conventions and his massive expansion into Asia, becoming one of the largest donors to the Republican party, single-handedly financing political campaigns with his immense wealth.
We then turn to Steve Wynn, the visionary who created the modern Las Vegas mega-resort with properties like The Mirage and the Bellagio. He was seen as the elegant, artistic face of the industry until a devastating 2018 report detailed a decades-long pattern of sexual misconduct and abuse against his female employees. The scandal exposed a dark side to the glamour of his empire and led to his complete downfall and resignation from the company that bore his name.
The stories of Adelson and Wynn reveal the immense power that flows from the casino floor into the halls of government. They show how fortunes built on gambling can be used to shape public policy and how the industry's glittering facade can hide a much darker reality. They were the kings of a world of high stakes and deep secrets.