The Gambler | Sheldon Adelson built a billion-dollar fortune in Las Vegas. His next act: building Macau, China into something even bigger than Vegas

It is midafternoon on a holiday in the peninsular city of Macau, China, and throngs of low rollers, many in windbreakers and fanny packs, crowd the baccarat tables at billionaire Sheldon Adelson's new Sands casino. Packed three deep, they ignore the festive distractions just outside--the five puppeteers clad in gold-trimmed lion costumes, the crash of cymbals and gongs from a ceremonial quartet--and bet $40 a hand or more on whether players at...