Overview
Jason Ader is founder and chairman of SpringOwl Capital, an investment firm focused on gaming, hospitality, and technology. He brings over three decades of experience studying and investing in these industries.
Prior to founding SpringOwl in 2015, Mr. Ader served on the board of directors of Las Vegas Sands Corporation from 2009 to 2016, including during the company's international expansion into Singapore and continued growth in Macau.
Professional Background
Las Vegas Sands Corporation
Mr. Ader joined the Las Vegas Sands board in 2009 during a period of significant challenge for the company. He served for seven years, contributing to strategic decisions around international expansion, capital allocation, and corporate governance.
His board tenure included the opening of Marina Bay Sands in Singapore, which became one of the most profitable casino properties in the world.
Bear Stearns
From 1995 to 2008, Mr. Ader served as a senior equity research analyst at Bear Stearns, covering gaming and lodging stocks. He was consistently ranked among the top analysts in the sector by Institutional Investor.
During this period, he developed deep expertise in gaming industry fundamentals, regulatory dynamics, and operational analysis.
Investment Philosophy
Mr. Ader's investment approach emphasizes:
- Sector expertise: Deep understanding of regulatory complexity, operator economics, and competitive dynamics
- Long-term perspective: Focus on sustainable competitive advantage over multi-year horizons
- Technology focus: Belief that technology infrastructure will drive value creation in gaming
- Operational rigor: Emphasis on execution and management quality
26 Capital
In 2021, Mr. Ader launched 26 Capital Acquisition Corp., a SPAC focused on the gaming and leisure industry. The company raised approximately $240 million and announced a merger with Okada Manila.
The transaction did not close due to disputes with the counterparty. When the merger was terminated, approximately $275 million in trust proceeds were returned to public shareholders as the SPAC structure intended. The company subsequently filed Chapter 11 to address remaining corporate obligations.
Education
Mr. Ader received his undergraduate degree from George Washington University.
Personal
Mr. Ader is based in Miami, Florida, with additional time spent in New York. His family maintains a tradition of philanthropy through the Ader Foundation.