The casino billionaires - Forbes

The city of Las Vegas covers 113 square miles - but that apparently isn't big enough for Sheldon Adelson and Steve Wynn. The pair of casino billionaires has been feuding for nearly two decades, and time shows no sign of healing the rift.

Adelson, the world's 12th-richest person, has complained that eruptions from the fake volcano at the Mirage hotel and casino built by Wynn are too loud. Wynn, the world's 277th-richest person, countered by claiming Adelson isn't building enough parking at his Las Vegas projects and the overflow snatches spaces from his own customers. Adelson called Wynn an "egomaniac". Wynn shot back that Adelson has an "inferiority complex".

The testy relationship is rooted in the casino properties that made them neighbours. The first casino Adelson built, the $US1.5 billion Venetian, is a short walk from the Mirage. They won't be getting away from each other anytime soon. Earlier this year, Adelson opened the $US1.9 billion Palazzo right next to Wynn's Wynn Las Vegas.

The world of casino billionaires is a small one. With gambling illegal in much of the world, the gaming properties of the world's richest are often directly competing with each other.

In addition to Wynn and Adelson, three other billionaires owe at least part of their fortune to Las Vegas. Kirk Kerkorian and brothers Frank and Lorenzo Fertitta all own casinos in Sin City.

The 90-year-old Kerkorian and his company MGM Mirag own more than half of the hotel rooms on the Las Vegas strip. His properties include the Mirage, which he bought from Wynn, and the Mandalay Bay Resorts, which he shelled out $US7.9 billion for in 2004.

The Fertittas opted to cater to area locals instead of building colossal casinos aimed at out-of-towners. It worked. They now own 17 casinos in the Las Vegas suburbs and are each worth $US1.3 billion, riches they parlayed into creating the Ultimate Fighting Championship, a billion-dollar sports empire.

The latest hot spot for gaming billionaires is Macau, a former Portuguese colony on the coast of China. The location makes the area an easy trip for much of China's huge and increasingly affluent population. Macau has already passed Las Vegas as the world's top gambling destination.

The king of Macau for decades has been Stanley Ho. Ho was the territory's only casino operator for 40 years thanks to government licenses that effectively gave him a monopoly. It's an advantage he put to good use. Forbes puts the net worth of this father of 17 at $US8.0 billion.

While Ho is still king of the area, his rule is no longer absolute. In 2002, Macau started issuing new gaming licenses. Wynn and Adelson were the first in line. Ho still owns 18 of the region's 27 casinos, but the new players are eager to grab more market share.

Adelson has been particularly energetic in pursuing the opportunity. Through his company Las Vegas Sands, he's already spent billions constructing two casinos in Macau. His company and partners have plans to build 13 hotels in the area.

The next big battleground for gaming billionaires could be Singapore. Adelson's has a good head start, though. Last year, he won the country's first gaming license. He's now building the Marina Bay Sands there on a 51-acre site. When his casino opens on the wealthy island nation in 2009, it's a good bet that Adelson, already worth $US26 billion, will be adding to his chip pile even more.

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