Stock Under $10 with 50-100% upside potential - 14 Days FREE!

Casino Owner's $2 Million Gift Surprises Las Vegas

Stock quotes in this article: CZR 

CRISTINA SILVA

LAS VEGAS (AP) ⿿ To LeRoy Stapleton, $500 could mean the difference between prolonged homelessness and finding a job that could get him back on his feet.

"It would be a big help," said Stapleton, who lined up with 30 other people outside a Las Vegas unemployment office Monday morning waiting for it to open. "You need money to make money. If I had some gas, I could find a job."

A Las Vegas casino owner's anonymous gift of $500 each to 4,000 southern Nevada families in recent months has had tongues wagging in a state with the highest unemployment rate in the nation. The $2 million gift to the United Way of Southern Nevada was the charitable organization's largest donation to date, and for months, guessing the identity of the donor became a popular pastime in Las Vegas.

The first round of families received $500 bank gift cards just before Christmas 2011. Another 2,000 families received the donations Saturday in Las Vegas. The families were not told how much they would receive. Casino titan Steve Wynn confessed earlier this month to a newspaper columnist that he was the not-so-secret donor, but the families were never told Wynn was behind the funds.

In some ways, the charitable gifts represent the dichotomy of Las Vegas' intertwined, but disparate economic classes. Wynn has made his money from wealthy travelers who think nothing of dropping thousands of dollars on a weekend of excess and vice. He has put a small portion of that money back into this community of struggling blue-collar workers who clean hotel rooms, pour $22 cocktails and build the shimmering casino towers along the Las Vegas Strip. Many of the families who received the $500 gift earned roughly $16,000 or less last year.

Las Vegas business leaders said the donation wasn't unusual. They pointed to this desert city's many charitable and wealthy residents. Casino owner Sheldon Adelson has opened clinics throughout Las Vegas. Crooner Wayne Newton is known for taking in pets others no longer want. Tennis great Andre Agassi opened a charter school for at-risk Las Vegas children.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
TRY IT FREE

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
Dividend Stock Advisor
TRY IT FREE
New! $49.95/yr

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREE

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Real Money
TRY IT FREE

24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.

Product Features:
  • Jim Cramer + 20 Wall Street pros
  • Intraday commentary & news
  • Real-time trading forum
  • Actionable trade ideas
Real Money Pro
TRY IT FREE

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass + 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
TRY IT FREE

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 15,354.40 121.18 0.80%
NASDAQ 3,498.97 33.73 0.97%
S&P 500 1,667.47 17.00 1.03%
US 10 Yr 1.949% +0.084

Brokerage Partners

Advertising Partners
Special Features

Free Newsletters from TheStreet

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

We respect your privacy. Manage Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs