Sheldon G. Adelson: We'll Always Have Vegas.(International Edition; THE LAST WORD)(interview with Sheldon G. Adelson)(Interview)

Byline: Rana Foroohar and Daniel Gross

Before the global downturn, 75-year-old Sheldon G. Adelson, Chairman of The Las Vegas Sands Corp., was the ultimate high roller. For a time America's third-richest man, he helped rebrand Las Vegas as a family spot and turn Macau into a top gambling destination with his investments. But his bet on Asia has, during the credit crunch, forced him to shore up projects with $1 billion of his own money. He talked about whales (big spenders) and sharks (like Madoff) with NEWSWEEK's Rana Foroohar and Daniel Gross in New York. Excerpts:

NEWSWEEK: HOW would you describe this moment in economic history?

ADELSON: Certainly remarkable. There are cycles in everything. But gambling will come back--it always does. The Chinese in particular are and will be prolific gamers. Not because they are addictive people, but because the concept of luck is such an integral part of their culture.

I've read there are more people coming through the doors in Macau than ever, but they are spending less money. Is that right?

Yes, we're running 15 to 20 percent ahead in terms of attendance year-on-year in Macau. But in the gaming industry, there are two components--those who gamble a lot, the whales, that could win or lose, on a night or a weekend, millions of dollars. Those people represent 60 to 70 percent of the gross income of a casino. You can still have one bet made in the high-end rooms that equals all the rest of the bets being made in the casino.

Is there a metric--GDP growth, stock-market swings, income growth--that can predict what people will spend in a casino?