Republican mogul Sheldon Adelson rakes in USD 3.8m in casino profits

The Las Vegas Sands corporation – in whose stake  Adelson, 81, and his wife Miriam control just over half, – made $2.5m from hotel rooms and food and drink sales in 2014. Adelson, who is the world’s 17th richest man according to Forbes with an estimated fortune of over $29 billion , collected a total in earnings of $14 million in 2013.

Adelson, who is both chairman and chief executive, will be paid even more in 2014 as the company, increased its fourth quarter dividend by 42.9%.

Adelson was pleased to have generated “the industry’s highest revenue and profit” from non-gaming sectors, like hotels and shops.

The company owns The Venetian and The Palazzo on the Las Vegas strip as well as casinos in Macao and Singapore.

“Notwithstanding a challenging environment in the VIP and premium mass gaming segments, we delivered $711.2m in adjusted property [earnings before interest, taxes, depreciation and amortization] across our property portfolio,” Adelson said. “Despite some obvious challenges in the Macau market, we delivered a strong set of market results.”

Adelson spent more than $93m trying to help a Republican into the White House in the 2012 election and has already started donations towards Republicans 2016 campaigns.