Bloomberg via YouTubeBefore Macao was a glamorous gambling centre, it was the “Wild Wild West” according to Jason Ader, the CEO of hedge fund Ader Investments.
He started off on Wall Street as a gaming analyst, so checking out Macao before it was opened up to gaming companies in the early 2000s was part of the job. He also currently serves as Director of Las Vegas Sands Corp.
In short — Ader made it Macao in the 90s to prepare the way for the insane boom we’ve seen over the past decade. Today, at Bloomberg’s Hedge Funds Summit, he told the story of his first time.
Once Ader got to the island from Hong Kong, he asked his cab driver to show him around the city. What he saw was pretty amazing — people crowding around casino tables 15 rows deep as the person willing to put the most money on the table fought to the front for their seat. He saw enormous potential, and he saw growth.
Unfortunately, his cab driver saw that Ader had money and eventually pulled a knife on him, leaving him with his passport and a ferry ticket to Hong Kong.
So yeah, “Wild, Wild West.”
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